Develop a marketing strategy and plan for new product

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Reference no: EM132039516

ASSESSMENT 1 -

Relating to a hospitality or tourism business of your choice (as approved by your assessor), you are to develop a marketing strategy and plan for one of the following

  • a new product or service
  • an existing product or service
  • a small or medium sized business organisation (promoting the business)
  • a destination
  • a specific project (such as an event)

PART A - Research

This will require you to research and consider:

  • the internal capabilities of your organisation
  • external business environment (what is happening in the market)
  • the target market, and their needs / expectations

PART B - Market Strategies

Now that you have completed your research, you are to consider your marketing strategy. Be sure to:

  • consider the research undertaken in Part A
  • be innovative in the marketing approach including factoring appropriate distribution networks
  • evaluate risks against returns
  • ensure the strategy is legal, ethical and sustainable
  • ensure the strategy reflects the image and strategic direction of your business
  • communicate with the relevant people; talk to your assessor, staff within the organisation, managers, and anyone else who can contribute to this task
  • provide solid justification to your proposed marketing strategy

You are to submit a detailed marketing strategy to your assessor for review before commencing Part C. The marketing strategy must also outline your findings from Part A

PART C - Marketing Implementation Plan

You have now completed the research, and identified your marketing strategy. Now it is time to develop the marketing plan. Be sure to -

Detail tactics to implement each marketing strategy in terms of:

  • scheduling,
  • costing,
  • accountabilities and
  • persons responsible

Identify coordination and monitoring mechanisms for scheduled activities.

Ensure all tactics are achievable within organisation's projected capabilities and budget.

Ensure all tactics meet legal and ethical requirements.

Ensure all tactics provide for ongoing review of performance against objectives and budgets, and allow marketing targets to be adjusted if necessary.

ASSESSMENT 2 -

Following Assessment 1, you are to prepare for and implement your marketing process in part.

Your implementation will encompass running a meeting for your team in which you:

  • Explain and discuss the marketing strategic plan in detail.
  • Provide overview strategies for least 2 different goal, objectives and strategies outlined within the plan.
  • Instruct / mentor each person to whom you have allocated a responsibility to, to ensure they understand and are empowered to perform their allocated task.
  • Outline the performance indicators that are incorporated within your strategic plan, including how they will be implemented and monitored.

It is important that you are prepared for this session, ensuring you

  • prepare for the session to ensure everything is covered.
  • develop and provide relevant documentation / supporting materials to your team.

Your assessor will observe you running the meeting.

Meeting Context -

Each meeting will consist of yourself (running the meeting), and at least 2 other people, who will role-play the employees. Other people may include trainers or students from your course.

Things to consider whilst performing this task:

  • Be organised - prepare and plan for the session thoroughly.
  • Know your position
  • Know your company
  • Arrange access to all required documentation for this process
  • Be prepared to ask questions
  • Be prepared to be asked questions

Things to consider whilst role-playing an employee:

  • Be prepared
  • Act professionally throughout the process
  • Be prepared to ask questions when you require more information
  • Answer all questions to the best of your ability
  • Make sure that by the end of the session, you are fully aware of the strategy you have been allocated, along with the actions you would need to perform to achieve this.

Remember you will be required to both run the meeting, and role-play an employee (during another students assessment), so be sure to perform at your best at all times.

Assessment Summary - You are to submit the following

  • Your meeting plan.
  • Copies of documentation provided to employees.
  • Your assessor will observe you running the meeting.

ASSESSMENT 3 -

For this assessment, you are to interview your assessor and gather the required data to review the implementation of your marketing plan. To perform this task satisfactorily, you must be prepared, as your assessor will only provide you with answers to questions asked.

In performing this task, you should:

  • Consider your marketing plan developed in Assessment 1.
  • Identify the type of information required to determine the effectiveness of each strategy.
  • Assess the profitability and productivity outcomes of each strategy.
  • Identify areas of underperformance.
  • Identify improvements that are appropriate to ensure the viability of the marketing strategic plan.

As a minimum you should identify:

  • the success or lack of the marketing campaign
  • possible reasons for the campaign result
  • comments received by consumers in relation to campaign
  • appropriateness of coverage
  • possible environmental factors that may have impacted the campaign, etc.

Finally, using the data and information received - you are to provide a written response outlining:

  • the success or lack of the marketing campaign.
  • factors that have attributed to the campaign outcome.
  • modifications that can be implemented to improve the future results.
  • how the modifications will be reviewed.

Verified Expert

In the current assignment, a marketing plan has been developed for FlipKey. For the same an internal analysis has been done using SWOT analysis framework. The external analysis has been conducted using the PEST analysis framework. An implementation plan has also been developed for the marketing plan.

Reference no: EM132039516

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Reviews

inf2039516

7/30/2018 1:12:09 AM

Hey there, The assignment You guys did for me last week is fantastic and up to the mark .Thanks for helping me out regarding this. As i told you the business should be Melbourne based and you guys really did the same. Thanks

len2039516

7/4/2018 2:49:09 AM

You are to present your strategy and plan to your assessor and gain feedback. You should consider any feedback received and adjust your plan appropriately prior to final submission. Your marketing plan must be specific, actionable and provide enough detail for another person to implement without guidance from you. Remember you will be required to both run the meeting, and role-play an employee (during another students assessment), so be sure to perform at your best at all times. You are to submit the following - Your meeting plan, Copies of documentation provided to employees and Your assessor will observe you running the meeting.

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