Will be doing a strategic marketing plan for (lotteria) total about 800 words as long as points are there. Lotteria is a chain of fast food restaurants in East Asia that grew out of its first shop i
6.4.2. Group Project - Strategic Marketing Plan (20%)The group project is designed to develop your knowledge and practical skills in creating a written Strategic Marketing Plan. It is expected that each group member will make an equal contribution to the project.
Group size is ideally 4 students.
Students are expected to carry out thorough research which will find a market niche for a product (good or service). Research will include an analysis of competitors, the target market and external macro environmental factors. Strategic objectives will be developed which link to a marketing position and value proposition. The task is as follows:
Situation: Your group is working as the Marketing Department for a company producing either goods or services.
The Task: Your responsibility is to produce a Strategic Marketing Plan for a nominated product and present this as a business report.
Timing: The Strategic Marketing Plan is to be undertaken within 12 months.
Budget: You are required to nominate realistic budgets for each item of the recommended marketing strategy. All budgeted expenditure needs to be cost effective, justified and relevant. The budget items will vary depending on the product and the recommended strategy.
The Product: Your group can select a product (either a good or service) and confirm the selection with your Lecturer. The product can be for a business which already exists or you can develop an entirely new product. If using a product which already exists, none of the existing marketing strategy is to be used in your project.
Limitations: The project should be kept within a realistic budget and be directed to a clearly defined target market (of your choice).
Creativity: The sky’s the limit. You are at liberty to develop brands, logos, packaging, product ranges, service strategies, sales launches, pricing strategy, distribution networks, mass media strategy and communication, social media strategy and communication and creative concepts.
Research: To do a good Strategic Marketing Plan, you need to carry out appropriate research. You are to allocate a research budget within the 12 month development period however, as a student group; you will need to conduct research to assess the validity of your proposed plan. You will need to carry out your own research for your product as well as using existing data where available in order to come up with reliable data and valid solutions for the strategic focus. Evidence of your research should be presented in the report.
Assumptions: You can make any reasonable assumptions regarding the size of the business, its operations, financial backing, production facilities and existing products.
Written presentation: Your Strategic Marketing Plan needs to be; clearly written, well structured, up to date, well researched, commercially viable and market focused. It should be presented as a professional business document.
Format: The Strategic Marketing Plan is to follow the sections as detailed on pages 25 - 27 of the text (Walker et. al. 2015). Marking will follow the sections as detailed in the marking guide. It is to be presented as a formal business report.
Length: Minimum 10 typed pages (excluding the report cover page) plus appendices and other references, 12 point type, single line spacing. Exceeding 10 typed pages will not be penalized however, the report should be concise and excessive information downloaded from the Internet is not recommended.
Important Note: The Strategic Marketing Plan should not include any material developed or written for any previous units or projects studied at Murdoch University or elsewhere. The project must be original work and backed with appropriate theory and concepts. Any assumptions made throughout the plan must be clearly justified with proper references.
Refer to the following for referencing:
http://our.murdoch.edu.au/Student-life/Study-successfully/Referencing-and-citing/
Group Activity Records (example on the unit website under Help) should be completed for each group meeting and signed copies attached to the final submission of the group project
Refer to the group project marking guide (below) for detailed marking criteria.
The report is to be submitted to Urkund as a means for the group to check the acceptable level of acknowledgement of other author’s work.
The submission should include the report with appendices and Group Activity Records. A copy of the report is to be submitted online before the beginning of workshop Session 5.
A penalty of 10% per day (to a total of 20% which is the total allocated for the assessment) will be applied for late submissions.
The assessment will be marked according to the following criteria:
| Objective/Criteria | Pass | Credit | Distinction | High Distinction | Total 20% |
| Executive Summary – summarises content including the report findings in a meaningfully and succinct manner | .25 | .3 | .35 | .4 | .5 |
| The product / business – identifies the mission and clearly emphasises appropriate points of SMART objectives, viable value proposition or positioning statement provided – should be clearly outlined, articulate and demonstrating thorough understanding | 1.5 | 1.8 | 2.1 | 2.4 | |
| Market analysis –well researched identification of the target market, identify the size and potential of the market, identify the unmet needs of the target market, macro trend categories, wants and needs the product serves – should be well defined, analysed and explained | 3.6 | 4.2 | 4.8 | ||
| Competitor assessment – well researched assessment of the competitive environment including the industry’s five competitive forces, critical success factors, direct and indirect competitors and possible impact of your marketing strategy | 1 | 1.2 | 1.4 | 1.6 | |
| Marketing strategy – statement of the overall marketing strategy, thorough discussion of the marketing mix elements and how these will be tailored to your marketing objectives and the service organization | 2.5 | 3.5 | |||
| Marketing expenditure budget – provide a spread sheet of the recommended marketing expenditure budget and activities for 1 year – should show good managerial judgement and accurate cost estimates not guesses | .5 | .6 | .7 | .8 | |
| Implementation and control plan – provide a 12 month timeline (Gantt chart) for marketing functions from the implementation of the plan – should be realistically planned and task orientated | .25 | .3 | .35 | .4 | .5 |
| Contingency plan – identify possible problems and action to be taken if problems arise | .25 | .3 | .35 | .4 | .5 |
| Overall report presentation – correct formatting, appropriate appendices for supplementary graphics and tables and correct referencing. Urkund report provided | .25 | .3 | .35 | .4 | .5 |
| Quality of writing - clarity in writing, concise, avoiding grammatical and spelling errors | .25 | .3 | .35 | .4 | .5 |
| Group activity records – copies of all group activity records attached which reflect group meetings and activities | .25 | .3 | .35 | .4 | .5 |
