Reference no: EM132517123 , Length: word count:1600
Assessment: Individual Marketing Plan Report
Topic - 7D Cinema theatre opens in Oman - VOX Cinema.
Task - Using your research findings, PESTLE and SWOT analysis and matrices from assignment 1. complete Sections 5-8 of the Marketing PlanTemplate. On the basis of this work, you can generate recommendations to your selected company/brand.
Your Marketing Plan must include the following:
Executive Summary
Introduction and objectives - Your introduction should include a brief relevant background information of your chosen company/brand.
Current Market and Brand - previously prepared PESTLE and SWOT matrices (make sure each finding has a reference). You need not repeat the detailed material from Assignment 1 but you MUST include the relevant points from this to support Assignment 2.
Marketing Plan Objectives - must be specific and realistic. Apply the SMART Rule. (Section 5 of the marketing plan template).
Segmentation, Targeting and Positioning- this should emanate from your research. You must identify current and possibly new market segments for your brand. (Section 6 of the marketing plan template).
Marketing Mix Strategy and Budget Recommendations- Note that you will need to recommend your marketing mix strategy for your selected area of study. Your recommendations should stem from your market and company analysis. Your strategy recommendations must be relevant to the segments identified in your market situational analysis. You are also expected to use relevant strategic marketing planning tools to inform your recommendations. Refer to the strengths and weaknesses in your SWOT and the opportunities and threats derived from your PESTLE analysis to decide which elements of the 7 marketing mix Ps require alteration. Budget- provide a costing for each of your marketing mix elements. We do not expect you to come up with specific figures, but your costing should be based on research. (Section 7 of the marketing plan template).
Evaluation and Control - how would the plan be monitored? What tools would you employ? Consider the Key Performance Indicators (KPIs). (Section 8 of the marketing plan template).
Additional Guidance on the Marketing Plan Report
1. Objectives - objectives need to be SMART. You do not need to explain what SMART objectives are to the reader but you need to generate SMART objectives that relate specifically to your chosen area of study
2. The balance between market analyses and the actual planning/actions- ensure that your submissions are balanced with regards to analysis and planning. For example. do not use a lot of space summarising the analysis, at the expense of setting objectives and planning objective-specific marketing strategies and tactics.
3. Vagueness - planning needs to be very specific; stating that you will use 'social media' for promotion because it is the most efficient tool' is not enough. You need to explain the social media tool (s) - what they are, why you are using them and how you would use them.
4. Academic content - you are expected to apply models, and not just describe or define them. For example, your SWOT or PESTLE analyses should not read like textbooks in which you explain what SWOT or PESTLE are - this is essentially incorrect. You need to APPLY them, not describe them.
5. Executive summary - an executive summary should be written in a way that allows the executive who reads it to know what the problem is and how it is to be solved. Essentially, it is a summary of your problem statement, objectives and recommendations and how to achieve them (i.e. how to solve the problem). Remember: if a CEO or MD is about to go into a meeting, and has two minutes before the meeting starts, they will read the exec summary - and this should tell them all the key points that they might need to know.
6. Secondary data use - Analysis should be supported with secondary data (from the literature). You should demonstrate wider reading and acknowledge the sources of your information, both in the main body and in your bibliography. Avoid making very bold but not substantiated statements, such as 'the only motor car company' in Oman' or 'massive campaign' or 'massive customer segment'. Give numbers if you think the segment is large and compare it to other segments to give an idea of the size of it. Worth noting that your product offerings must relate to your chosen segments.
7. Presentation and structure - to achieve an excellent grade, your presentation needs to be immaculate - this includes numbering tables, referencing correctly etc. Do not present a lot of data and information in tables as appendices. Data or statistics that refer directly to your discussion in the main body, should be presented in the main body. Tables and figures - tables and figures need to be numbered and each should have a title that is self-explanatory. Your analytical content must be high, demonstrating critical thinking and the ability to apply relevant marketing concepts (refer to the marking criteria).
Word limit -1,600 words.