Marketing
Management BARB2013 January 2020
Air BnB
Experience Marketing Plan Project (30%)
Marketing
Plan Report Due Date: 7 March 2020
Marketing
Plan - 20%
This
assignment fulfills the following Learning Outcomes:
CO2: Develop
key marketing strategies for the market opportunities.;
CO3: Execute a simple integrated marketing
programme
MQA
Domains: Practical Skills, Communication, Leadership and Group Working Skills
and Management and Entrepreneurship
Instruction: Work in groups of 2-4
students on a marketing plan of a product or service based on the agreed theme.
Based on your understanding of value
offering, describe the marketing strategies that built-up the value offering
and achieved the objective set.
Group
name |
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Target
Market (4 marks) Examples of Target Market statement: The product will be targeted at three-person
households with annual income of more than RM 60,000 in which both adults are
likely to work outside the home Adventurous consumers wanting premium
quality products. Upscale households, with particular
emphasis on female buyers. (Yours) Our target market are ……… who are ……
to and loves ……. of its vicinity and look for ………. |
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Value proposition (4 marks) A value proposition
is a business or marketing statement that summarizes why a consumer should
buy a product or use a service. This statement should convince a potential
consumer that one particular product or service will add more value or better
solve a problem than other similar offerings. The value
proposition must be tied-up to opportunities available. It is a clear statement that: •explains how your products and booth
solves customers’ problems or improves their situation (relevancy) and in
your case how they fascinate you. •delivers specific benefits (quantified
value) |
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Objectives (2 marks) Objectives describe where you intend the
product to go in the future. Objectives are usually quantified. Setting objectives involves setting
measurable marketing objectives to be achieved for a specific market, a specific
product or brand, or an entire marketing program. Marketing Manager must
decide on the plan’s objectives that are the financial objectives and
marketing objectives. eg. Financial Objectives Produce Sales of RM200. eg. Marketing Objectives Sell an AirBnB experience before report due
date on 7 February 2020. |
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Marketing strategies (25 marks) Market positioning
strategy: Positioning statements are used in marketing communications programmes
and activities. The positioning statement includes the target audience,
product name, category, benefit, and competitive differentiation. Most
importantly, positioning statements represent a plea for single-mindedness
when it comes to communicating specific marketing messages aimed at very
specific audiences. While the value proposition reflects the wider range of
primary benefits offered, market positioning points specifically to the most
relevant benefit and points of competitive differentiation that are
meaningful to a target market. Market positioning relate to benefits and
pain reliever & reasons (Value proposition) Once a
value proposition, objectives, and market positioning strategy have been
decided, you will need to prepare the marketing mix strategies. The strategy
section provides a statement showing how the business achieved its
objectives. Marketing
Mix Strategies Among elements to
include Product Product
features/menu/games/show; brand name and reasons, packaging of goods (5
marks) Price Pricing
strategies and basis (5 marks) Promotion Promotion strategy is to create awareness. Promotion
materials (Refer to Promotion Action Plan table below)– An A4 poster must
be included as part of the promo material for the group which will be used
for promotion in the social media (10 marks). Place Suitability of location People Uniformity Physical aspect Signage and decor Process Service process from order taking to
delivery of services |
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Action
Plan (10 Marks) The next step is to
translate broad strategy statements into specific actions and tactics for a
year. Each marketing strategy element must now be elaborated to answer what
will be done, when, who will do it, where and how it will be done and how much
will it cost. Draw a table with time line to show the starting and completion
date of all activities and assign responsible individuals to ensure project
is completed on time. Please design action programs on a weekly basis for the
project. e.g.
Action Programs February:
Advertise in The Sun on 13/4/2020 on introduction of the product. Suraya,
promotion manager will handle the project at a budget of RM 10,000. March:
Road shows at 40 primary schools around Kuching to promote products by giving
free samples and demonstration of product usage. Lee, senior sales manager
will organize the whole operation, which is expected to cost RM 2,000. Promotion Action
Plan Sample:
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Budget
& Financial Statement (5 marks) Basic statements that present costs, expenses,
revenue and profit expected |
Presentation
10%
Presentation is
compulsory for all team members. In total you are expected to present 5 minutes
of the marketing plan.
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