Reference no: EM132686447

Consider you joined as a team member at a takeaway restaurant (or other small business) in Sydney CBD which was bought recently by the new owner. This shop is in busy commercial area where there are few other similar shops operating for a long time. They are quite popular and therefore do good business. It is clear, that this business will face tough competition in market. You realize that the previous owner did not do much in terms of marketing and promotion so she could not generate sufficient revenue from the business.

You are studying marketing and keen to apply your knowledge to help current owner grow the business. The owner tells you that the business is considering an extensive refurbishment. As part of applying for the bank loan for refurbishment costs, the local bank manager has asked to submit a Marketing Plan and you're assigned with this task. Now, form a group of three students and answer the following questions (as your report) and make presentation using MS-PowerPoint.

A. Study marketing environment

i. Briefly describe the organization and its current situation.

ii. Evaluate marketing opportunity by studying current market environment.

iii. Key points for developing marketing strategy for your business.

iv. How does your marketing strategy relate to overall organizational strategy?

B. Plan marketing strategies

i. Prepare implementation plan (of your initial marketing strategy) showing allocation of resources and accountabilities.

ii. Develop a budget and list monitoring mechanisms.

iii. How would you ensure that your marketing tactics do not breach ethical and legal requirements?

iv. How would you conduct performance review?

C. Prepare the marketing plan

i. Ensure your marketing plan meets organizational objectives and proper marketing mix.

ii. Present marketing plan for approval within appropriate timeframe.

iii. How important is the stakeholders' feedback on your marketing plan?

iv. Adjust (make strategic changes to your original plan) marketing plan based on stakeholders' feedback.