You can work on any Australian or foreign multinational companies. Weighting for Research Proposal Assignment: 30 Marks Exemplary Strategic Marketing Plan Outline Strategic functions Students need to focus on: 1) Introduction (2 Marks) • State the objectives of the marketing plan • Include relevant background for the company you are using • State and justify your market selection 2) Value Analysis (4 Marks) • Evaluate your product portfolio in relation to the competition in the market you intend to enter (what is the value proposition, what are costs and benefits associated with the product) • Mention any foreseeable problems and resistances to product acceptance (this includes a comparison of your value proposition against that of major competitors) • Ansoff’s Growth Matrix: Ansoff, H. Igor. “Strategic issue management.” Strategic management journal 1, no. 2 (1980): 131-148. 3) Analyse uncontrollable forces (4 Marks) • Political • Economical • Social • Technological • Legal • Porters five forces: Porter, Michael E. “The five competitive forces that shape strategy.” (2008). 4) Segmentation, Positioning and Targeting (4 Marks) • How are you planning to segmentation, target and position the product or services in the selected market (i.e., who are the consumers, what approach you are taking to offer your products to them, what are the brand’s core values and brand image) • How does your positioning compare to your main competitors in the market • Justify the decisions that you have made 5) Marketing Mix Decisions (10 Marks) • Describe and justify any product adaptation or modification, in general for the market or segment-specific (core product, features, support services, packaging); How are you going to differentiate your product? Is it on the quality of your ingredients? Or is it about how they are going to be sold? Are you selling your products via retails stores? If so, what would these retail stores look like? • At what prices are you intending to sell your products? Consider pricing from the consumer perspective as well as pricing given the costs of your operation and the foreign market entry. Are prices constant across all customer segments or will be selling at different levels? Include a comparison to competitor pricing. Identify the potential risks that could impact your pricing strategy • Explain how your communications strategy is complementing your overall positioning and targeting in the market. Appraise the potential risks in your advertising strategy • How you will conduct the distribution strategies for your product or services? What are the levels or channels you are going to use? 6) Analysing competitors (3 Marks) • What will your strategic position in the market comparing to your competitors? How you will compete with these strategies to add more market share? 7) Report presentation and referencing (3 Marks) • Harvard referencing style • Minimum 8-10 academic references needed.
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