Coursework 2 – Individual Marketing Plan
A marketing plan is a business document written for the purpose of explaining the current market position of a business and its marketing strategy for the period covered by the marketing plan. Marketing plans usually cover a period of one to five years. The assessment will require all students to write an individual marketing plan covering a period of one year. The purpose of a coursework 2 is to clearly exhibit the steps or actions that have been taken to achieve the planned goals.
Marketing Plan for an existing company in your subject area.
As the final assignment for this module, you are required to write a Marketing Plan assessing the CURRENT marketing strategies of an existing company in your subject area from the list below. You should evaluate ONE company from the list below and assess this company in the UK.
You will be evaluating:
S- Situational analysis (assessing the current macro and micro environment)
O- Objectives (TWO SMART objectives). These objectives will derive from your situational analysis
S – Strategy (assessing the current strategies which relate to the 2 SMART objectives)
T – Tactics (assessing the current tactics which relate to the 2 SMART objectives)
A – Action (Please use a Gantt chart to help explain the actions as part of the strategy and tactics)
C- Control (You can either investigate what the company is currently doing or make suggestions via further reading.)
Evaluate ONE company from the list below. Your marketing plan should be UKfocused. This plan should identify the current ways the company is generating valuefor stakeholders in the UK.
The marketing plan should follow the SOSTAC model. It is vital that all students read and understand the marking rubric.
Please select a company in your subject area and one market offering (product/service) from the company’s product portfolio.
|Global Business||Google, Netflix, P&G (select one|
|company from their portfolio), Cadbury|
|Marketing||M&S, Nike, Unilever (select one company|
|from their portfolio)|
|HR||Hilton, Starbucks, Coca Cola (e.g. Coca|
|cola, Fanta, Smart water – select one|
|company from their portfolio)|
|Finance||JP Morgan, HSBC, Mastercard, Paypal|
This assignment should be presented in a standard marketing plan format of between 2,000 – 2,500 words and submitted by Moodle.
Please submit your work via Moodle. Please see Moodle for submission date.
Module learning outcomes assessed in Assignment 2:
|Assessment||Individual||1.||To be able to debate module concepts and|
|Plan||2.||To use the theory to conduct competently the|
|analysis of contemporary marketing issues|
|cognitive and critical learning outcomes|
|3.||To be able to compare and contrast different|
|theoretical frameworks in order to address practical|
|4.||To be able to develop independent lines of|
|argument supported by evidence|
|5.||To apply critical thinking in using theoretical|
|knowledge and student’s own ideas Transferable|
|7.||Utilising modern technologies and electronic|
|resources to obtain and analyse relevant data|
M003LON – Coursework 2 Structure
Executive summary – limit to one page providing complete converge of eachsection of your plan. The reader should be able to have a basic understanding of all aspects of your plan. The summary assists the reader in understanding your plan.
Contents page –it includes all sections and sub-sections, it should also include thelist of figures and tables
Introduction – intro in to the marketing plan
Main body – it should contain the following stages
Situational analysis – The situation analysis should provide an overview of yourorganisation/market offering (product or service) by addressing internal and external factors impacting the business.
The situation analysis can be organised into three sections:
- Porter’s 5 Forces
Tables can be used, but a critical discussion of the most important elements which directly influence the objectives, strategy and implementation must be critically discussed.
STP– Helps brings to life who your existing customers are and who competitors are.
USP can be used to help explain “positioning”.
Objectives– Your marketing planning framework should focus on the Objective/s ofyour strategy. Stage 1 looked at the situation analysis which provided an overview for your organisation, specifically: addressing internal and external factors impacting your business.
Typical objectives include sales, profits, market share, advertising awareness, etc. Objectives are outcomes and cannot be directly controlled. For example, to spend four million pounds on advertising is a planned action. Advertising spending can have several measurable outcomes or objectives; aided and unaided recall, change in product positioning, or sales. Be careful not to state planned actions as objectives.
To help create your objectives, I recommend using measurable and realistic goals to achieve the marketing strategy, focusing on ensuring you make each objective
You are required to devise TWO smart objectives, these will derive from either:
- existing objectives that may be found on a company’s website
- objectives can also derive from the SWOT analysis
Strategy – Strategy means how you plan to get there in terms of fulfilling theobjectives set.
A marketing strategy is a broad directional statement that describes how marketing objectives will be accomplished. Within our marketing plan, the marketing strategies represent a first overview of various marketing tools and how they will be used to achieve the marketing objectives. While marketing objectives are specific, quantifiable, and measurable, marketing strategies are descriptive
In other words you are expected to apply marketing strategic frameworks here, such as Ansoff matrix, brand extension, or line extension.
Remember strategies must tackle both objectives.
Implementation or Tactics – Tactics cover the specific tools of the marketing mix(7p’s) that you plan to use to realise the objectives of your marketing plan. This section of a marketing plan relates to putting the strategy into action (step by step) you would be going into a lot more detail for each tactic.
To help achieve the objectives above, use the 7p’s of the Marketing Mix to focus on the key attributes to be considered by Company X in order to meet your objectives.
Action – focused on how to bring your plan to life, to make actionable measures. Theaction section covers what needs to be achieved for each of the tactics listed in the previous section of the SOSTAC plan to realise the objectives of your marketing plan. Please use a Gantt chart to help explain the actions as part of the strategy and tactics
Control – The final stage is to layout how you plan to monitor and measure yourperformance based on the objectives set at stage 2. The tactics have been considered and your control section is providing you with a series of dashboards tailored for each tactic.
Look to set the KPI’s per tactic that tie back into the objectives set and set up a weekly/monthly set of monitoring dashboards to ensure you are on track to meet the objectives set.
Conclusion – it should be the summary of your key findings and recommendations.
References – Make sure you follow the CU Harvard Style.
Your work should be word processed in accordance with the following:
- Font style, Arial or Times New Roman, font size 12
- 1.5 line spacing.
- The page orientation should be ‘portrait’
- Margins on both sides of the page should be no less than 2.5 cm
- Pages should be numbered
- Your student number should be included on every page.