Describe and quantify potential target market segments

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Reference no: EM132330629

Marketing Management Assignment Task - Marketing Plan - Woodford Folk Festival

Learning outcomes -

  • Understand marketing from a holistic perspective within the organisation.
  • Analyse and evaluate credible sources of marketing information to prepare a well-reasoned marketing plan.
  • Understand and apply the strategic planning and marketing decision process.
  • Critically evaluate and apply marketing principles and theories to selected "real life" organisations and case studies.

DESCRIPTION -

Your lecturer will provide you with a scenario for a business that requires a marketing plan. The focus of marketing plan will change according to the scenario you have been given to address. The marketing plan will be prepared on a level suitable to be presented to senior management. The Step-by-Step Marketing Planning System in Chapter 14 of the text, and frameworks provided to you by the Lecturer, will help you identify the relevant information to include in your marketing plan. In each week of the subject, we will discuss key issues that you should be considering for your marketing plan. You are strongly recommended to start forming groups from Week 1 and work on the plan from Session Week 2 and after each Session add relevant information to the plan.

Do:

  • Present the marketing plan in report format with subheadings and paragraphs following the structure outlined in Chapter 14 of the text and provided frameworks.
  • Use tables, diagrams and further analysis of data to clarify, illustrate and supplement analysis and support your recommendations.
  • Use page numbers and double line spacing for ease of reading and feedback.
  • Use citations from original sources when they are used, using an accepted format such as APA. If sources have not been acknowledge, they will be considered as plagiarised.
  • Proof read your report thoroughly, for grammatical and spelling errors.

Do not:

  • Use bullet points unless you are simply presenting a list which is self-explanatory. Bullet points do not lend themselves to discussion and explanations (Note that you are now reading a bullet point which is totally self-contained and requires no further explanation!).

SPECIAL CASE STUDY NOTES - Woodfordia Inc. (and their major event the Woodford folk Festival) are our client for this trimester.

Your team can start by generally familiarising yourselves with the organisation and festival.

Our marketing problem to resolve in the marketing report will be to: -

(1) Identify ways in which Woodford Folk Festival can increase international visitors to the festival over the next 3 years (2019/20, 2020/21 & 2021/2022)

(2) Identify, describe and quantify potential target market segments. Selecting one market segment for detailed planning

(3) Create a marketing plan (supported by WFF information provided, marketing theory and other information gathered from secondary sources) to attract the selected target market segment.

(4) The marketing budget for this campaign will be a maximum of $60,000 comprised of $30,000 for 2019/20, $15,000 for 2020/21 and $15,000 for 2021/22. The 3-year marketing plan MUST show an overall financial return on investment to Woodfordia Inc. over the 3-year period. It is expected that, by the end of 2021/21the marketing costs incurred of $60,000 will be recouped through ticket sales and that at least an additional $60,000 in Box Office or other revenue will be gained as a result of the marketing plan (overall increase in revenue of at least $60,000).

(5) All marketing proposals should include draft examples of any proposed creative content as an appendix e.g. YouTube, storyboard, mock-up of any print media etc.

Attachment:- Marketing Management Assignment.rar

Verified Expert

The study is focused about the marketing strategy and marketing mix of the Woodford Folk Festival.The target market, market assessment and market plan also been introduced followed by resources and financial budgeting structure of the festival has been discussed in the study.

Reference no: EM132330629

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Reviews

len2330629

6/30/2019 11:03:53 PM

Group or individual - Groups of up to four students may be approved by lecturer according to enrolment numbers. Weighting - Contributes up to 30%of final grade. Word length maximum 2500 words excluding Appendices. IF YOUR TEAM WOULD LIKE ADDITIONAL INFORMATION YOU ARE TO EMAIL YOUR LECTURER. DO NOT CONTACT Woodfordia Inc. DIRECTLY. Do not Copy material from other sources without acknowledging the source.

len2330629

6/30/2019 11:03:45 PM

REFERENCES: Should be in APA6 format (including doi’s where available). List should be in alphabetical order. Should use a combination of academic articles, marketing theory, industry sources and media articles. Expectation that you will include a minimum of 10 references, at least 5 of which will be academic. Note: all work that is not yours must have an in-text citation (in the body of the report) and an associated full reference (in this concluding References section) Use APA 6 referencing style (Including DOI’s) Note: you must also use in-text citations.

len2330629

6/30/2019 11:03:39 PM

Remember –Only put in the appendices those items that are too big for the Report Body. E.g. you might have a Budget Summary in the Report Body that then refers to the Full Budget in Appendix X. APPENDICES: Each appendix should have a numbered title that aligns with what you included in the body of the report, remember that core information MUST be in the body of the plan – appendices are for additional supporting information only.

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