BSB126 Marketing:Positioning Statement That Brings Together

BSB126 Marketing:Positioning Statement That Brings Together

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BSB126 Marketing

Questions:

Marketing Goal

From the Ansoff Matrix in Chapter 9, state your chosen method of growing your product/brand [penetration, market development or product development]. Then describe your realistic marketing goal. Marketing goals should have two things – a focus (either monetary or non monetary) and benchmarks (by how much and by when). Monetary goals can be net income, margins, return on investment, retail sales (and others) while non‐monetary goals can be sales volume, market share 

Marketing Strategy

At a basic level, marketing strategy is identifying the target market, and defining the value proposition. You can find additional resources and frameworks in Chapter 6 of the text  Segmenting, Targeting and Positioning. 

Target Customers

Describe two or three market segments, and then identify one segment you will target. Develop a profile of your target segment.

The value proposition is addressing the question “why will your target customers want to buy this product?

You should also construct a positioning statement that brings together the target customers and value proposition into one statement. You may want to include a positioning map in your analysis. These are the marketing mix elements that you should tailor to suit your target customers, your company resources and your competition. Product You can suggest product development or branding changes. Describe the current brand identity. You should consult Chapters 8, 9 and 10 of your text.

Price Briefly discuss the 5Cs; decide on whether you will use cost, competitor or value based pricing and justify your decision. Are there any other pricing models that might be suitable? Will you offer any incentives? Chapter 11 of the text and your tutorial should help.

Distribution  Distribution captures the channel through which the product is delivered to customers. Briefly describe the current marketing channels (supply chain) for your chosen product, describe its distribution intensity and offer an alternate/complementary method of distribution. Justify your recommendation. Chapter 12 of the text will be helpful.

Promotion Using the “Objective‐and‐Task” method, describe how you would spend AUD $100,000 for promotions to help reach your previously stated marketing goal. Describe the IMC tool(s) you will use, how the money will be spent, and what you expect to achieve. Promotion decisions should be realistic and suggestions can be found in Chapter 13 of the text.

As a rough guideline, you should reference between 15 and 20 reputable sources in your assignment. You must cite and reference all your sources of information in APA format. Help can be found at http://www.citewrite.qut.edu.au/

In your two pages of appendices you can include any supporting documentation you think is necessary to help the reader understand your marketing plan. It could be a section of an industry report; some graphs or charts; a mock‐up for a print/online ad you have generated for your chosen product (or a storyboard for a TV/video ad); a media alert for the product’s introduction or anything else.

One major function of a marketing manager is to grow the product, brand or both. The Ansoff Matrix (See Chapter 9) is useful as a starting point for your assignment.  Penetration is re‐invigorating the brand and selling more of the existing product to existing customers.

 Product development is modifying the product (or perhaps a brand extension) to sell to existing customers.  Market development is selling the existing product to new customers. Choose one of the three quadrants (do not choose diversification, as it is not well suited to this type of assignment) as your method for growing the product or brand.

BSB126 Marketing

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