Reference no: EM133001896
TASK 1
1. Discuss the concept of alliance marketing (50 - 100 words), and give two examples of businesses that may form marketing alliances (50 - 100 words each).
2. Describe each of the following terms in relation to marketing opportunities: market penetration, market development, product development and diversification (50 - 100 words each).
3. Discuss a marketing strategy commonly used in new businesses, franchises and take-overs (100 - 150 words). Then, give three examples of the tools a business might use with this strategy (50 - 80 words each).
4. Give an example of how a small business could combine a concentrated marketing strategy, an undifferentiated marketing strategy and a differentiated marketing strategy all at the same time (100 - 150 words).
5. Outline the concept of differentiation marketing strategy (100 - 150 words), and provide four examples of how an organisation can make use of this type of strategy to stand out (50 - 100 words each).
6. Other than the strategies already mentioned, identify and describe a minimum of six common business to consumer marketing strategies (50 - 100 words each). Give an example of a stand out brand/product or service that use each of the strategies well (50 - 100 words each).
TASK 2 - Role Play and Report
Research Project: - For this task you are required to develop a short briefing report to be discussed with the CEO (assessor) to inform the development of NatureCare Products marketing plan.
Research Project - including a Role-play
Read the below scenario and complete the following activities:
Scenario / Case study
NatureCare Products is based in Brisbane, Queensland Australia and commenced business in 1996 manufacturing and retailing eco-friendly, high quality beauty skin care products. The business was established to cater for a growing demand for skin products that contain eco-friendly and natural ingredients. There is also an emphasis on eco-friendly packaging.
NatureCare Products' most current Strategic Plan identifies that its vision is to be a market leader for providing high quality, sustainable and skin care products. It has identified its major competitors as being Jurilique and Botani and is currently working on positioning itself against this strong competition.
Currently the organisation consists of the CEO, Operations Manager, Sales Manager, Marketing Assistant, Customer Sales Officers (5) and Administration staff (3). All the positions are based in the office in Brisbane. The business is owned by Mr and Mrs Smith who have been in the industry for many years and won many industry awards. NatureCare Products were the first skin-care company to sell their products on-line in Australia.
The company has a range of products currently that include:
• Cleansing creams to soothe skin during make-up removal. Primary ingredients include Shea butter to nourish the skin and plant extracts that are also rich in essential oils with regenerating and anti-inflammatory properties. This product will be for delicate and mature skin and could also be used as a baby cream.
• Multi Protection Day Moisturising Creams for dry to normal skin types that help protect the skin during the day and includes Shea butter and extracts from fragile green algae that provides hydrating and protective properties.
• Regenerating facial scrub to clean off dead skin cells to promote regeneration of healthy new cells. This product will be used for most skin types.
The company has become well established in the Australia market and sells its products in health stores across the country. It also sells its products online through its own website. The company targets customers that want high quality, ethical and eco-friendly products. Market research has identified that around 70% of customers are professional women aged 25 - 55. The current strategy of the company as identified in its latest Marketing Plan is niche marketing to the target group based on positioning the products as high quality and eco-friendly. The price of products are slightly higher than major competitors. With regard to the marketing of NatureCare Products, the company is reasonably happy with sales through the website but would like to do more in the future, for example, through reviewing search engine optimisation and to use social media to generate sales. The company is in a strong financial position as shown in its Business Plan with sales of $1.65 million and a profit of $1.2 million in the last financial year and has a budget of around $150,000 for marketing for the next financial year.
The company would like to add more products over time and is focussed on a range of products to meet particular skin needs rather than a one-size fits all. The company is also interested in expanding overseas. Research, for example, has identified that Japan may represent a good opportunity for the company as it has been identified there are good opportunities for products made from natural ingredients. The company has also decided to target essentially the same group of consumers as for the Australian market as it has identified that a key group of consumers in Japan for cosmetic products are ‘middle-aged/older women who seek functionality and higher- value-add items'.
Regarding the company's current promotional activities, successful promotional activities have been advertisements on the Australian body + soul web site and in the Natural Health magazine. There have also been in-store promotions with the focus on high quality products for women.
The management team of NatureCare Products has advised that its primary marketing objectives are as follows:
• Increase the number of people who make a purchase while visiting the online store by 20%
• Increase the number of retail outlets selling NatureCare Products by 150
• To increase product awareness amongst the target market by 20%
• To increase market share to 15%
• To expand into at least one international market
• To identify new products and new markets
• To attain annual growth of at least 10% over the next three years.
Regarding market trends; health warnings, environmental concerns, ethical concerns, therapy awareness and organic attitudes have all contributed to the growth in popularity of natural-based personal care products. It is predicated that natural/organic skincare, hair care and cosmetics sales will continue to grow strongly in the retail sector. Cosmetics in general are also still growing strongly.
1. Review the case study information.
2. Research trends and development in the cosmetics industry, potential new and emerging markets, competitors and any other relevant factors.
3. Develop a SWOT analysis that outlines all of the internal and external factors that will impact on the plan based on the case study information and the research above.
4. Based on your review of the case study information and research, develop a briefing report to discuss with the CEO at a meeting. The purpose of the report will be to inform the development of the Marketing Plan.
5. The report should address the following:
a) Introduction to the marketing plan - outlining its purpose.
b) Report on the SWOT analysis conducted.
c) Identification of at least two marketing opportunities for the company based on the review of the case study and research, as well as the SWOT analysis. Include an evaluation of each of the two options, including a review of any possible risks for the marketing opportunity identified and likely returns in regard to revenue and/or profit.
d) Identify and report on marketing strategies that could be used. The marketing strategies you develop must:
• Address the four P's of the marketing mix in accordance with the organisation's
marketing objectives, including desired positioning
• Align with organisational strengths as per the case study information
• Be relevant to the marketing opportunities you have identified
• Be consistent with NatureCare's ability to implement such marketing strategies
given the information provided in the case study.
• Consistent with existing staff resources and budget.
• Identify and take into account gaps in achieving the objectives with current capability and expertise (this may have been identified in your SWOT analysis so your strategy will need to identify how you will close the gap).
e) Identify and report on marketing tactics for each of the identified strategies including:
• An explanation of marketing tactics and rationale for such.
• Timing of the marketing strategies, staff roles and responsibilities and costs involved.
• Recommended coordination and monitoring mechanisms that will be used to ensure that the marketing tactics are implemented as required and according to timelines.
• How the proposed marketing tactics are achievable within the available budget and staff.
• Legal and ethical issues that need to be considered in using the marketing tactics proposed and how you have ensured these issues are addressed.
f) Identify and report on how marketing performance will be measured against marketing objectives, including a description of the marketing metrics that can be used and rationale for this specific approach to reviewing marketing performance.
6. Send your completed report to the CEO via email (your assessor) inviting the CEO to participate in a meeting with you to discuss the information and to confirm approval to develop the marketing plan based on the information contained in the report.
7. Participate in the meeting (Role-play (use template below)). At the meeting you will be required to:
• Explain the two marketing opportunities that you have identified
• Explain recommended marketing strategies and tactics
• Explain recommended approach to measuring marketing performance
• Seek feedback on your ideas as documented in the report.
8. During the meeting you will need to demonstrate effective communication skills including:
• Presenting your ideas clearly and concisely
• Asking questions to find out your team's views
• Responding to these questions
• Active listening skills to confirm and clarify information.
TASK 3 - Project and Role-play
Task summary
Development Project - For this task, you are required to develop the marketing plan based on the information identified in the briefing report they developed for Assessment Task 2. You will also need to present the marketing plan to the CEO and management team (your assessor and two students).
Development Project - including a Role-play
Complete the following activities:
1. Use the information from your report to develop a marketing plan using the template provided by your assessor. Ensure you clearly demonstrate how your marketing plan meets legal and ethical requirements. You may also presume any information that has not been provided in the case study.
2. When you have completed your marketing plan send it to the CEO (your assessor). In the email invite the CEO and management team to a meeting where you will present the marketing plan.
3. Present your Marketing Plan at the meeting with the CEO and management team. Your assessor will organise at least two other students to play the role of the management team and to listen to your presentation and ask questions and provide input (Role-play (use template below).
4. At the meeting, you will need to explain each part of the marketing plan and seek input and feedback. The purpose is to obtain approval of the plan.
5. During the meeting you will need to demonstrate effective communication skills including:
• Presenting your ideas clearly and concisely
• Asking questions to find out your team's views
• Responding to these questions
• Active listening skills to confirm and clarify information.
6. Following the meeting, update the marketing plan with any feedback provided and email the final version to the CEO (your assessor).
Attachment:- PLAN_TEMPLATE.rar