Market Solutions Plan Rubric [35%]
Market Solutions Plan Rubric [35%]
Below Expectations Exceeds Expectations
Introduction and background: Presents an executive summary. Provides a concise introduction to the companys background, brand and products and mission.
Demonstrates understanding of the companys business using either the BCG, PLC, Ansoff or Porter strategies. (2.5) 0.1 to 0.4
points 0.5 to 0.9
points 1.0 to 1.4
points 1.5 to 1.9
points 2.0 to 2.5
points
Retail environment: Exhibits knowledge of the retail industry and consumer market as well as major issues (existing and potential) encountered by the company. Uses a range of analytical tools to assess the companys environment, including competitive perceptual mapping and SWOT analysis. (5) 0.1 to 2.49 points 2.5 to 2.99 points 3.0 to 3.49 points 3.5 to 3.99 points 4.0 to 5.0
points
Integration of marketing concept/theory and practice: Identifies the marketing objectives and targeted segments.
Recommends and outlines the marketing mix strategies to address the targeted segments. Justifies why these recommended strategies are effective. (15) 0.1 to 2.99 points 3.0 to 5.99 points 6.0 to 8.99 points 9.0 to 11.99 points 12.0 to 15.0 points
Implementation and evaluation: Details how each recommended marketing mix strategy is implemented in a Gaant chart and then, monitored in an evaluation chart.
Provides an overall summary of key activation points and evaluation indicators for the company. (5) 0.1 to 2.49 points 2.5 to 2.99 points 3.0 to 3.49 points 3.5 to 3.99 points 4.0 to 5.0
points
Information sources: Cites a range of articles on and around the topic (academic and business literature) to form insightful viewpoints. Integrates these sources into relevant sections of the report. Uses appropriate referencing format. (2.5) 0.1 to 0.4
points 0.5 to 0.9
points 1.0 to 1.4
points 1.5 to 1.9
points 2.0 to 2.5
points
Collaboration: Professional and well- structured report demonstrates collaborative problem-solving skills. Report is clearly written, free of spelling and grammatical errors. (5) 0.1 to 2.49 points 2.5 to 2.99 points 3.0 to 3.49 points 3.5 to 3.99 points 4.0 to 5.0
points
Market Solutions Report Instructions
Working in groups, participants are expected to develop a practical marketing plan for a Milk Lab product of Noumi Brands, which will be introduced to the Australian domestic market. This demonstrates that participants understand and can implement marketing theory in problem-solving solutions for industry practice. Note: Do not divert the topic as the market solution report is totally focussed on Milk Lab product Noumi Brands.
In a market solutions report, you are required to review and analyse the Australian marketplace and recommend marketing solutions for the Noumi Brands. As this assessment is essentially a proposal of market solutions to the client, it needs to be market-oriented and pragmatic. For instance, when identifying a 4Ps strategy, keep the explanation of the strategy brief (no more than a concise sentence). Instead, provide practical detail on how the identified strategy applies to the client.
The market solutions report should be (25 pages, typed in 12-point font and 1.5 line spacing, excluding references and appendices) and must utilise the wide range of sources available from the library and general public domain to address the project's brief. You are required to use journal articles, research papers that have research support and peer reviewed. Make at least 20 to 25 references. The references should be in Chicago 17B format.
You are also required to prepare a 15-minute group presentation seeking feedback from the instructor that takes place on the campus which provides a progress report and seeks feedback from the instructor.
Checklist for the Assignment
Sections Executive Summary Company Market Brand/Products/SBUs Mission Statement Competitive Perceptual Map SWOT Analysis Marketing Objectives Market Segmentation Product Strategies Price Strategies Distribution Strategy Promotion Strategies Implementation Plan Evaluation Plan References Editing Format/Presentation Editing Graphics Detail Outline of the Assignment
Brand/Products SBU
This exercise considers your clients strategic business unit, popularly known as SBU. This is a fully-functional unit of your clients business that has its own vision and direction. Typically, a strategic business unit operates as a separate unit, but it is also an important part of the company. Identify and map out where your clients products will take their business over the medium term, using one or two of the analyses matrices (i.e. PLC, BCG, Ansoff and Porter).
PLC
BCG
Ansoff
Porter
Situational Analysis of
Mission Statement
This exercise considers how your clients mission statement is used to explain, in simple and concise terms, its purpose for being. A mission statement is usually a long sentence or a short paragraph, which highlights a company's culture, values and ethics.
Mission statements has several characteristics, including reinforcing company strengths, motivating employees, satisfying customers and reassuring investors of the company's future.
Mission Statement Characteristics
Competitive Perceptual Map
This exercise considers how your clients brand is positioned in the marketplace against competing brands. Identify the critical attributes in your clients products and in a map, visually present how consumers perceive your clients products in the competitive environment.
SWOT Analysis
This exercise considers the SWOT factors, which exert internal (i.e. strengths and weaknesses) and external (i.e. opportunities and threats) influences on your clients business practices. Identify three to five issues from each SWOT factor (i.e. strengths, weaknesses, opportunities and threats) that have potential to impact on your client in the marketplace. Discuss the implications of each issue for their impact on your clients marketing strategies.
Strengths issue #1: _________________________________________________________________
Implications #1: ____________________________________________________________________
Strengths issue #2: _________________________________________________________________
Implications #2: ____________________________________________________________________
Strengths issue #3: _________________________________________________________________
Implications #3: ____________________________________________________________________
Strengths issue #4: _________________________________________________________________
Implications #4: ____________________________________________________________________
Strengths issue #5: _________________________________________________________________
Implications #5: ____________________________________________________________________
Weaknesses issue #1: _______________________________________________________________
Implications #1: ____________________________________________________________________
Weaknesses issue #2: _______________________________________________________________
Implications #2: ____________________________________________________________________
Weaknesses issue #3: _______________________________________________________________
Implications #3: ____________________________________________________________________
Weaknesses issue #4: _______________________________________________________________
Implications #4: ____________________________________________________________________
Weaknesses issue #5: _______________________________________________________________
Implications #5: ____________________________________________________________________
SWOT Analysis
Opportunities issue #1: ______________________________________________________________
Implications #1: ____________________________________________________________________
Opportunities issue #2: ______________________________________________________________
Implications #2: ____________________________________________________________________
Opportunities issue #3: ______________________________________________________________
Implications #3: ____________________________________________________________________
Opportunities issue #4: ______________________________________________________________
Implications #4: ____________________________________________________________________
Opportunities issue #5: ______________________________________________________________
Implications #5: ____________________________________________________________________
Threats issue #1: ___________________________________________________________________
Implications #1: ____________________________________________________________________
Threats issue #2: ___________________________________________________________________
Implications #2: ____________________________________________________________________
Threats issue #3: ___________________________________________________________________
Implications #3: ____________________________________________________________________
Threats issue #4: ___________________________________________________________________
Implications #4: ____________________________________________________________________
Threats issue #5: ___________________________________________________________________
Implications #5: ____________________________________________________________________
Marketing Objectives
This exercise considers the marketing objectives that your client must set for the short term (i.e. 1 year). Identify six to eight Specific-Measurable-Actionable-Realistic-Timed (SMART) marketing objectives (i.e. new markets and market share, brand identity, brand image, sales, profit margins, distribution channel members, locations of channel, media and consumer relationships, brand awareness and preference) relevant to your clients business portfolio.
Marketing objective #1: ______________________________________________________________
Marketing objective #2: ______________________________________________________________
Marketing objective #3: ______________________________________________________________
Marketing objective #4: ______________________________________________________________
Marketing objective #5: ______________________________________________________________
Marketing objective #6: ______________________________________________________________
Marketing objective #7: ______________________________________________________________
Marketing objective #8: ______________________________________________________________
Synergising Marketing MKTG5003
Market Segmentation
This exercise considers the primary markets that your client should target. Identify three market segments that you recommend to be your clients key customers. Profile these market segments according to the segmentation bases (i.e. geographics, demographics, socioeconomics, psychographics, behaviour and benefits).
Segmentation Profile
Segment #1 (name) Segment #2 (name) Segment #3 (name)
Geographics Demographics Socioeconomics Psychographics Behaviour Benefits Note: Cite sources where applicable (e.g. Australian Bureau of Statistics, CIA World Factbook)
Marketing Mix Strategies
This exercise considers the marketing mix strategies that will help your client to position, engage and sell to consumers in the marketplace. From the four Ps (i.e. product, price, place and promotion), recommend three strategies for each P (i.e. product, price and place) and five strategies for the last P (i.e. promotion) that your client can utilise to effectively market to consumers.
Product strategy #1: ________________________________________________________________
Application #1: _____________________________________________________________________
Product strategy #2: ________________________________________________________________
Application #2: _____________________________________________________________________
Product strategy #3: ________________________________________________________________
Application #3: _____________________________________________________________________
Price strategy #1: ________________________________________________________________
Application #1: _____________________________________________________________________
Price strategy #2: ________________________________________________________________
Application #2: _____________________________________________________________________
Price strategy #3: ________________________________________________________________
Application #3: _____________________________________________________________________
Marketing Mix Strategies
Place strategy #1: __________________________________________________________________
Application #1: _____________________________________________________________________
Place strategy #2: __________________________________________________________________
Application #2: _____________________________________________________________________
Place strategy #3: __________________________________________________________________
Application #3: _____________________________________________________________________
Promotion strategy #1: ______________________________________________________________
Application #1: _____________________________________________________________________
Promotion strategy #2: ______________________________________________________________
Application #2: _____________________________________________________________________
Promotion strategy #3: ______________________________________________________________
Application #3: _____________________________________________________________________
Promotion strategy #4: ______________________________________________________________
Application #4: _____________________________________________________________________
Promotion strategy #5: ______________________________________________________________
Application #5: _____________________________________________________________________
Implementation and Evaluation
This exercise considers implementing and evaluating the marketing mix strategies that you have recommended to your client. Identify each of the 4Ps strategies, which you recommended in the previous section, in the two charts. Indicate with arrows or shading when each strategy will be executed (see implementation chart). Explain how each strategy will be assessed and who will assess it (see evaluation chart).
Implementation Chart
Year
Strategy Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Product #1 Product #2 Etc. Pricing #1 Pricing #2 Etc. Place #1 Place #2 Etc. Promotion #1 Promotion #2 Etc.
Implementation and Evaluation
This exercise considers implementing and evaluating the marketing mix strategies that you have recommended to your client. Identify each of the 4Ps strategies, which you recommended in the previous section, in the two charts. Indicate with arrows or shading when each strategy will be executed (see implementation chart). Explain how each strategy will be assessed and who will assess it (see evaluation chart).
Evaluation Chart
Year Strategy How 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Who
Product #1 Product #2 Etc. Pricing #1 Pricing #2 Etc. Place #1 Place #2 Etc. Promotion #1 Promotion #2 Etc.
