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Marketing Plan

Assessment Details
Your group’s task is to design, develop and write a marketing plan relating to the new product outlined in the company overview below.
As the product and company being used for this assessment is fictitious, make any necessary, realistic assumptions you require to develop a solid marketing plan and illustrate your understanding of relevant marketing principles.

Company Overview: Your assessment is based on hypothetical scenarios relative to fictitious company.
PROTECTA are an Australian owned company which sell smartphone accessories. The company import their goods from China and package them in Australia.
PROTECTA was founded in Melbourne in August 2002 by current Managing Director, Allen Chen.
PROTECTA’s consumer marketing channels are indirect as they use wholesalers and retailers to get their product to the consumer.
Since 2013, PROTECTA’s revenue has been gradually declining, mainly due to competitive forces. Since this time the company have been working to develop their own unique range of products.
The first product range centers on a unique attribute that has not existed before in the consumer electronics market. “QUAD” is the brand of these new products, which are headphones with four earpieces which allows two people to listen to music at the same time. There are 4 different QUAD products: wireless in-ear headphones, wired in-ear headphones, wireless over-ear headphones, wired over-ear headphones. Each product comes in 3 different colors: white, black, red.
Allen has engaged your marketing agency to develop the marketing plan for QUAD.

Ensure that you include the following as minimal requirements within your marketing plan:
Current Marketing Situation:
– Describe the market including the identification of the major target segment, customer needs and corresponding benefit for the segments.
– List the key features of the organization’s product
– List 3 main competitors that you will complete against when marketing the product/service and list their market position and key strategies. (Remember: Competitors don’t need the same basic product to be a competitor.)
Strengths, Weakness, Opportunities, Threats (SWOT) or equivalent analysis:
– Identify and describe 3 strengths, 3 weakness, 3 opportunities and 3 threats associated with your product/service.

Objectives:
– List 3 key objectives and identify one major issue that may affect the outcome for each of the objectives. Ensure that you use the SMART principles for your objectives (Specific, Measurable, Achievable, Realistic and Timely).

Marketing Strategy:
– Positioning
– Product Strategy
– Pricing Strategy
– Promotion Strategy
– Distribution Strategy
– Marketing Communication Strategy

Action Plan:
– State 4 key actions that must happen – now, in six months and in one year
– Include a timeframe for each action

Controls:
– List 2 tests that you will use to establish your product’s success, profit margins and sustainability

Budget and P&L:
– Estimates for one year and five years

Contingency planning:
– Include how and why your marketing plan will be successful
– How to identify whether your expectations are being met
– What action will be taken if plans are not met

Conclusion:

Submission details:
A word limit of 4,500 words applies. Any content beyond this will not be read.

Category: Essays

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