Marketing Plan Assignment

BSD126 Marketing Plan Assignment Instructions TP3, 2020

 YOUR TASK

You are to assume the role of marketing manager for the product/brand and your job is to construct a basic marketing plan to grow the brand in Australia.

 

The task is to research the industry and construct a basic marketing plan for how you would grow your chosen product/brand and reach your stated marketing goal.

 

This is an individual assignment, and therefore you should neither collaborate nor collude with anyone else including other students – past, present or future.

 

The following brand is the subject of your marketing plan

Home Ice Cream is a Queensland based ice cream company. They sell a range of high-quality ice cream and ice blocks to consumers throughout Australia. They differ from other companies because they deliver the products directly to consumer’s homes through their delivery vans. The company has been in business for 30 years, however recently the business has had problems. They have recently been forced to close their South Australia and Gold Coast divisions.

As the Marketing Manager, how would you advise  Home Ice Cream to re-establish and grow its brand?

Read: https://www.homeicecream.com/

 

BASICMARKETINGPLAN– OUTLINEAND EXPLANATION

 

You will complete this marketing plan in two parts. Part A is due on Friday the 22nd of November 2019. The details are below. Part B is due on Sunday the 6th of January 2020. The instructions for Part B are in a separate section on Blackboard under “Assessment”.

INSTRUCTIONS FOR MARKETING PLAN PART A

PART A

SITUATION ANALYSIS[app 350words]

This section provides general information about the marketing environment including the company,its goals, and its resources.

 A  CDSTEP (culture, demographics, social, technology, economic and political/legal) profile might be appropriate here. Giventhetightwordlimit, I suggest youonly highlight the twomacroenvironmentalforces (culture, demographics, social, economic, political/legal and technology) thatare mostsalient toyour chosen product.Your choices must be justified.

A SWOT (strengths, weaknesses, opportunities, and threats) analysisshouldalso be included.

Directioncanbefound inchapter 4 ofthetext, andyour tutorial.

  1. MARKETINGGOAL[a 15words]

Setyour ownrealistic goal.Marketinggoalsshouldhave twothings–afocus(either monetary or nonmonetary)and benchmarks(byhow much andby when). Monetary goalscanbenet income,margins,returnoninvestment, retail sales (andothers)whilenonmonetarygoalscanbesales volume,marketshare(andothers). The marketing goal will also need to be very clear on where the goals are focused (i.e. at your segment of the market).  The goal must be justified by what you write in your Marketing Strategy section

  1. TARGET CUSTOMERS (Approximately 400 words)

Segmentthemarketandidentifyonesegment youwill target.Developaprofileofyour targetsegment and justify your choice.

  1. VALUE PROPOSITION (Approximately 50 words) 

Thevalue propositionisaddressingthequestion “whywillyour targetcustomerswant tobuythis product?” Youshould constructapositioning statement,andincludeapositioningmapinyour analysis 

 REFERENCES[notincludedinwordcount]

You are expected to use at least 6 different academic/reliable sources, including the textbook. You should include a variety of sources. 

Youshould citeandreferenceall yoursources of informationinAPA format. Help canbe foundat http://www.citewrite.qut.edu.au/

 MARKETING PLAN CHECKLIST

**You are expected to submit an electronic copy in word format and using the template below to the Turnitintool on BlackBoard.  It must be submitted by the due date and time or the Late Policy will apply. Assignments received after the deadline (without an approved extension) will not be marked.

Before starting andsubsequentlysubmitting yourassignment,youshould check‐offeach item inthechecklistbelow:

  • Use the assignment templateprovidedon Blackboard, and keepto1.5 linespacing and a readablefont suchas Times New Roman or Calibri.
  • The 800wordlimit is for sections 1,2, 3 and 4only (including in-text citations). You can go over the word count by 10% (80 words) without penalty, but any more than that will incur a penalty.
  • Includeyour total word count on the frontpageofyour submission for each part. Use theAPA referencing system throughoutyourdocument.
  • No table ofcontents,introductionorconclusionrequire
  • As the report is for an actual product, it is acceptable to use the company website once, to introduce the product. All other sources must be academic so Wikipedia and other similar sources are NOT to be used or referenced for this assignment.
  • Usesources such as books, journal articlesor industryreports
  • You should submit to TURNITIN to obtain a text-matching report,andmake any changes youthinkarenecessaryand then resubmitbythe duedatE
  • Backupandkeepelectronic copies ofyourassignment.
  • Submit your assignment (electronically) to the TURNITIN link on Blackboard by the due date.

Late Assignment Policy 

Assessment submitted after the due date without an approved extension will not be marked and will receive a grade of 1 or 0%. If special circumstances prevent you from meeting the assessment due date, you can apply for an extension. If you don’t have an approved extension you should submit the work you have completed by the due date and it will be marked against the assessment criteria

Students should also refer to the university policy on Late assessment and extension (MOPP E/6.8).

To apply for an extension, go to

https://www.intranet.qut.edu.au/teaching/course-and-unit-design/assessment/late-assessment 

 Academic Integrity 

If your submission is identified as containing potentially plagiarised material, your tutor or the Unit Coordinator will arrange a meeting with you to discuss the issue. Please note the university policy on Arcade

mic Integrity (MOPP C/5.3 and Student Rule 29).

 Please follow the structure below

BSD 126 MARKETING PLAN PART A

 TEMPLATE

Part A

COVER PAGE

 NAME:                                                 

STUDENT NUMBER:

TOTAL WORD COUNT

Report

 

  1. SITUATION ANALYSIS

The political situation of Australia is favorable for Home Ice Cream to grow its business in Australia because the federal system is governed by a constitutional monarchy under a parliamentary democracy. The government has structured both national and local administration which offers great opportunities for the business firm in setting up their business. The government of Australia has reduced the corporate tax from 38% to 30% which makes the trade regulations easier for the business organisation to procure the resources and carry out their business operations(Ato, 2019). Moreover, it has also been noticed that the Australian government has also waived off an additional 5% of federal tax for the organisation who source resources from local suppliers. The country also enjoys good relations with neighboring countries and holds free trade agreements with countries like China. The stabilized political system of Australia grows the opportunities for the business organisation to establish their market and roll out its production process. Furthermore, the inflation rate of Australia has come down to 1.6% from 1.7%, that indicates that the purchasing capability of the consumer’s increases and growth for business organisation surge higher.

The growth in the social lifestyle of Australian people also holds the key success factor for Home Ice-Cream. Moreover, it has also been noticed that the population of millennials generation in Australia has been predicted to grow by 17% until 2020(Abs, 2019). The rising young age population paves the path for Home Ice-Cream to innovate products that meet the expectation of the customers and earn higher revenue opportunities. Furthermore, the rising average income of the Australian Household also indicates that the business organisation has great opportunities for expanding its roots and generate new customer traffics. The average household of Australia has grown by AUD 1,046 per week, thus it increases the purchasing capability of the consumers(Abs, 2019). Australia has multicultural diversity where people of all background resides coherently, the diversified background of the people in Australia is open to change that influences the Home ice-Cream to innovate product lines that enthrall the expectations of the customers.

Therefore, based on the favorable political and social factors of Australia it can be concluded that Home Ice-Cream has better growth opportunities in the Australian business environment.

Strength

·         The extensive product range of ice-cream flavors.

·         Good packaging and advertisement(Homeicecream, 2019).

·         Higher brand recognition.

Weakness

·         Limited international presence.

·         Expensive prices of the products.

 

Opportunities

·         Tie up with food chains and restaurants(courier mail, 2019).

·         Introduction to healthier options and more vegan options.

Threats

·         Growing competition from both local and international players.

·         Availability of substitute products such as frozen desserts.

Figure 1: SWOT analysis of Home Ice-Cream

Source: Author

 

  1. MARKETING GOAL

The increase in the sales margin of the business by 20% in the Australian food and beverage marketby the end of the year 2020.

 

  1. TARGET MARKET

The process of segmentation helps the business organisation in dividing their customers into smaller segments that help the business in targeting a specific group of customers to carry out their operations. The main target market for Home Ice-Cream is age between 6-60 years, the firm has large product categories to satisfy the needs of the customers. The marketing strategy of Home Ice-Cream comprises Glocalisation which is a combination of leveraging its brand value with that of products and services. The customers of Australia are very much culinary and sensitive about their taste and market trends, but with better brand development and varieties of flavors in their ice-cream, it has become easier for the organisation to meet the expectation of target markets and earn their loyalties(Franchisebusines, 2019). While determining the customers the Home Ice-cream targets mostly age and income based people. People who fall middle and upper-middle-class are their main target groups, those who have the capability of purchasing ice-creams.  The target market for Home Ice-cream enables them to understand the changing taste and preferences of the customers based upon which flavors and tastes are being added to the ice-cream.

Description
Geographic Home ice-cream mainly operates in rural and semi-rural areas of Australia.
Demographic

–       Male/Female

–       Children

–       Family Life cycle

–       Age

–       Income

Working-class people

6-60 years

Young, single and family size

Moderate income

Psychographic

–   Lifestyle

People with social and working lifestyle
Benefits Sought Sugar-free and fat-free Ice-cream
Any other information about your target audience Online shopping habits

4.0  VALUE PROPOSITION

Australian based Home Ice-Cream provides values of superior quality of ice-cream at affordable prices that satisfy the needs of the customers along with enthralling their expectations. The strong supply chain network of the organisation also provides a value proposition to the customers. The strong supply chain network helps in managing inventories and increase the shelf-life of the products that help in maintaining qualities in the ice-cream that adds values to the taste of the customers(Homeicecream, 2019). Product innovation also adds values to the business which enables the firm in introducing new varieties of ice-cream that aim towards attracting a new set of customers towards the business organisation

 

REFERENCES

Abs. (2019, November 21). Household-income. Retrieved from Household-income: https://www.abs.gov.au/household-income#:~:targetText=6523.0%20%2D%20Household%20Income%20and%20Wealth%2C%20Australia%2C%202017%2D18&targetText=In%202017%E2%80%9318%2C%20the%20average,week%20in%202007%E2%80%9308).

Abs. (2019, November 21). Population. Retrieved from Population: https://www.abs.gov.au/population

Ato. (2019, November 21). Company-tax. Retrieved from Company-tax: https://www.ato.gov.au/Rates/Company-tax/

courier mail. (2019, November 21). Depot-closed-as-toowoombas-familyowned-home-ice-cream-business-downsizes-operations. Retrieved from Depot-closed-as-toowoombas-familyowned-home-ice-cream-business-downsizes-operations: https://www.couriermail.com.au/subscribe/news/1/?sourceCode=CMWEB_WRE170_a_GGL&dest=https%3A%2F%2Fwww.couriermail.com.au%2Fbusiness%2Fdepot-closed-as-toowoombas-familyowned-home-ice-cream-business-downsizes-operations%2Fnews-story%2F097d72e5bdb0344d98f949

Franchisebusines. (2019, November 21). Home-ice-cream. Retrieved from Home-ice-cream: https://www.franchisebusiness.com.au/brands/home-ice-cream/

Homeicecream. (2019, November 21). Home. Retrieved from Home: https://www.homeicecream.com/

Homeicecream. (2019, November 21). Product. Retrieved from Product: https://www.homeicecream.com/products.cfm

 

 

 

 

 

 

 

 

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