MMK101 Assignment 2 Guide & Template

T1 2019

Marketing Strategy

(25% of Final Grade)

Assessment Assignment 2: Marketing Strategy Recommendations Completed Group ONLY

(group of 3 members that have the same A1 topic)Weighing 25% of the final grade (marked out of 100) Word limit 1500 words (+/- 10%); This excludes the background

summary (Section 1), title page, table of contents, reference list, tables and appendices.

Due date Week 9, Sunday, 12 May 2019 @5.00pm Where to submit Via Turnitin link on Moodle – Softcopy submission Late submission penalty Refer to the Unit Outline – Penalties for Late Submissions

Section; Also see belowWord Limit penalty A penalty will be applied if the work submitted has an

excessive word count.Return Date Week 12

Please note the following: Late Submission Penalty: If the assessment is submitted late without an approved

extension from the Unit Coordinator, a marking penalty of 5% of the available marks will be deducted each day for up to FIVE working/business days. If the assessment is submitted more than five days after the due date it will not be marked and be awarded zero (0%) for the task.

Assignment must be submitted as a WORD document only. Assignments submitted using other files types WILL NOT BE MARKED.

You MUST use the company that you have been allocated to. Assessment that does not use the given company will NOT BE MARKED and be awarded zero (0%).

You MUST use the assignment template provided on Page 6 of this guide. You MUST submit in a group. Individual submission will be awarded zero (0%)

MMK101 ASSIGNMENT 2 BRIEF T1 2019 1 OF 10

Instructions:

You would need to continue using the company that you have been allocated to in A1: A) Skechers Australia https://www.skechers.com.au  B) Rayban Australia https://www.ray-ban.com/australia C) Koala https://au.koala.com/  

The unit coordinator has provided you with a company in Week 2 and you have used the company for your Assignment 1. Please make sure you use the same company for this assignment and find group members that have the same topic.

You can only form groups with students that are enrolled in the same class as you, not across classes.

Your task in the second assignment (A2) is to:Assignment 2 is a continuation of Assignment 1. Based on the new target market, differentiation and positioning strategy that you have proposed in Assignment 1 for the company, you must now briefly analyse the company’s current marketing mix strategy for their current market and provide some recommendations of a detailed marketing mix strategy that will help the company to successfully achieve their objectives to be successful in the new market.

Remember, you are acting as if you are a marketing consultant for the company. You have now chosen the new target market in A1. All you need to do in A2 (your main task) is to choose three elements out of four (4) marketing mix elements (you must choose Product and Promotion element and one more element is whichever else you want to choose out of the 4Ps), provide a brief analysis on how the company has been using such elements for their current market and finally, provide recommendations of a new and appealing marketing strategy that are relevant to the new target market, differentiation and positioning strategy that have been discussed in Assignment 1. This assignment contains information on the relevant marketing mix for the target markets identified in the previous assignment (Assignment 1). As mentioned, your report MUST include Product and Promotion elements, plus ONLY one other marketing mix elements of your choice in your report.

You would need to develop a new marketing strategy that is targeted to the new market that you have identified in A1. For example:

1) For your Product strategy, you can recommend to the company to develop a new product or modifying their current product mix to better serve the new target market that you have identified in Assignment 1. You can also even come up with a new sub-brand if need be. The key is what product that would better serve the new target market from Assignment 1.

2) For your Promotion strategy, you need to recommend which three out of the five tools of the IMC that would best suit to communicate the new product or market offering to the new target market. You would need to choose at least three out of the five promotional mix tools.

MMK101 ASSIGNMENT 2 BRIEF T1 2019 2 OF 10

3) For your Pricing strategy (if you choose this element), if you proposed a new product or sub-brand, then you would need to develop new pricing strategy based on the new product pricing theory. However, if you recommended they stay with their existing products but selling to the new market, then you would need to discuss the three major pricing strategy.

You must provide:1) Cover page 2) Table of Content 3) Reference list

Section and Marks Breakdown:

Section Marks

Details (suggested breakdown of word limit and references are in brackets)

WORKSHOP 5WORKSHOP 6WORKSHOP 7WORKSHOP 8(done in-class)

16 The workshops mentioned on the left are really important to help you to do your A2. Hence it is imperative for you to do them in-class, guided by your lecturer. These workbooks will show you the most important highlights of the topics. Your lecturer will mark these workshops once you hand them in, and the marks will be out of 16 marks in total (4 marks each workbook), which will be part of your A2 marks.

1 5 Background Summary of Assignment 1:In the provided template for Assignment 2, briefly identify your proposed:

target market profile value proposition positioning statement

that you have developed in Assignment 12(550 words)

27 Marketing Mix Strategy 1: PRODUCTHint: refer to Part 4 Workbook 5 (Product)Using Product marketing mix elements, please provide:

brief analysis of the company’s current product strategy for their current market by analysing their:

o product mix o 3 levels of product

recommendations for the company of what new product strategy that would best serve the new target market and be in harmony with the new positioning strategy developed in A1. What should they change in their product elements, so they can attract the new target market? Should they introduce a new product? New sub-brands? Modify their current products? How and why? Your recommendations should be detailed and actionable.

At least 2 references are needed here 3(550 words)

27 Marketing Mix Strategy 2: PROMOTIONHint: refer to Part 4 Workbook 7 (Promotion)Using Promotion marketing mix tools, please provide:

brief analysis of the company’s current promotional strategy

MMK101 ASSIGNMENT 2 BRIEF T1 2019 3 OF 10

for their current market by showing an analysis of their:o promotional mix tools

recommendations for the company of what new promotional strategy that would best serve the new target market and be in harmony with the new positioning strategy developed in A1. What should they change in their promotional efforts, so they can attract the new target market? Shall they introduce a new promotional strategy? How and why? Your recommendation should be detailed and actionable.

For your recommendation, you must show:o three (3) promotional mix tools (at least) o an IMC pie chart

At least 2 references are needed here 4(300 words)

15 Marketing Mix Strategy: your chosen marketing mix element Hint: refer to Part 4 Workbook 6 (Pricing), refer to Part 4 Workbook 8 (Placement). Using one (1) of the remaining four elements, three (3) marketing mix elements, please provide:

brief analysis of the company’s current strategy for their current market

o their current pricing strategy (if you choose pricing) o their current distribution strategy (if you choose

placement) recommendations for the company of what new marketing

mix strategy that would best serve the new target market and be in harmony with the new positioning strategy developed in A1. What should they change in their efforts, so they can attract the new target market? Shall they introduce a new strategy? How and why? Your recommendation should be detailed and actionable.

At least 2 references are needed here 5(100 words)

5 Conclusions for the Company: Make sure your conclusion summarises the important

elements of both assignments (A1&A2) Reference List

(and General Communications)

5 Reference List and General Communications Use credible and relevant references (minimum of 7 different references (at least 4 being academic references i.e. textbooks and journal articles)

You MAY NOT use:o Wikipediao Investopediao Businessdictionary.como Blogso Marketingteacher.como and the like

For websites, you may consider websites that ends with:o .orgo .gov.auo .net o .com (only for company websites)

MMK101 ASSIGNMENT 2 BRIEF T1 2019 4 OF 10

You can also cite news articles Correct and consistent use of Deakin Harvard Referencing

format (please check out this link http://www.deakin.edu.au/students/studying/study-support/referencing/harvard )

Professional business report (avoid 1st person expression i.e. I, we, us

Free of grammar and spelling mistakes

The breakdown of words are suggestions only. You may vary the words per section. The maximum word count (1500 words +- 10%) is based on the total words of the submitted document, which excludes the title page, table of contents, reference list, tables and

appendices.

Please find a sample template for the assignment on the next page.

Koala Sleep Pty LtdMMK101 ASSIGNMENT 2 BRIEF T1 2019 5 OF 10

Assessment 2MMK101 Trimester 1 2019

Marketing Mix Strategy

Group Name:

Group members: Student IDsGrace Chapman CHAG1D1901

MMK101 ASSIGNMENT 2 BRIEF T1 2019 6 OF 10

Assignment 2 Checklist(To be submitted with the assignment)

If you have NOT completed the checklist below, your assignment is NOT yet ready to submit.Section Details Checklist

Workshop 5 Must submit in class in Week 5

Workshop 6 Must submit in class in Week 6

Workshop 7 Must submit in class in Week 7

Workshop 8 Must submit in class in Week 8

Section 1Grace

Background Summary of Assignment 1:

a brief summary of your target market profile (A1)

a brief summary of your value proposition (A1)

a brief summary of your positioning statement (A1)

write the above information in the table provided

Section 2Grace

Marketing Mix Strategy 1: PRODUCT

Provide an analysis of the company’s current product mix analysis and three levels of product

Provide recommendations of what new product strategy that would best serve the new target market selected in Assignment 1

Citing at least 2 references to strengthen your analysis and recommendations above

Section 3Zain

Marketing Mix Strategy 2: PROMOTION

Provide an analysis of the company’s current promotional mix strategy (hint: the five promotional mix tools)

Provide recommendations of what new promotion strategy that would best serve the new target market selected in Assignment 1:

o At least 3 promotional mix tools o IMC pie chart

Citing at least 2 references to strengthen your analysis and recommendations above

Section 4

Ahsan

Marketing Mix Strategy: your chosen marketing mix element

Provide an analysis of the company’s current pricing/placement strategy (hint: Week 6 and Week 8 materials)

Using any pricing/placement theories discussed in Week 6 and Week 8 such as the three major pricing strategy, two new product pricing strategy, marketing channel design, types of distribution intensity

Provide recommendations of what new pricing/placement strategy that would best serve the new target market selected in Assignment 1

Citing at least 2 references to strengthen your analysis and recommendations above

Section 5 Ahsan

Conclusions for the Company

Your conclusions must summarise the important elements discussed in A1

Your conclusions must summarise the important elements discussed in A2

Section 6 grace

Reference List:

Provide 7 references

At least 4 are academic references (i.e. textbooks and journal articles)

Correct and consistent use of Deakin Harvard Referencing Guide for both in-text citation and reference list

General Professional report writing (did not use 1st person expression i.e. I, we, us)

Using the assignment template provided by the unit chair

Using the company that has been allocated to you

MMK101 ASSIGNMENT 2 BRIEF T1 2019 7 OF 10

Table of ContentsAssignment 2 Checklist.............................................................................................................7

1. Background Summary of Assignment 1............................................................................9

2. Marketing Mix Strategy 1: Product...................................................................................9

2.1 Analysis of the Company’s Current Product Strategy.....................................................9

Product Mix Analysis.......................................................................................................9

Three Levels of Product...................................................................................................9

2.2 Recommendations............................................................................................................9

3. Marketing Mix Strategy 2: Promotion...............................................................................9

3.1 Analysis of the Company’s Current Promotional Mix Tools..........................................9

3.2 Recommendations............................................................................................................9

Three (3) promotional mix tools.......................................................................................9

4. Marketing Mix Element 3 Strategy: Price/Placement......................................................9

4.1 Analysis of the Company’s current pricing/placement strategy......................................9

4.2 Recommendations............................................................................................................9

5. A1 and A2 Conclusion.......................................................................................................10

Reference List.........................................................................................................................10

MMK101 ASSIGNMENT 2 BRIEF T1 2019 8 OF 10

1. Background Summary of Assignment 1.Target Market profile:

DemographicAge range: 25-38Occupation: Self employedPsychographicThey value running their own business from home and has to spend lots of time on their computer. Motivated by supportive chairs that can support their back whilst knowing the chair they has bought is sustainable and environmentally friendly. The packaging of the chair is also important and biodegradable.They also use forums for other self-employed individuals who work from home, as well as social media channels including Facebook and Pinterest.

Value Proposition:

Koala’s ergonomic chairs valueproposition position involves ‘more benefits’ for ‘more price’shown in the diagram. As the diagramshows, Koala is able to charge a higherprice for their ergonomic chair whilstproviding more benefits to the consumer as consumers in this targetmarket are more concerned the benefits and the quality of the chair that they are willing to pay a higher price point for a product that meets their needs for comfort and quality.

Positioning Statement:

To the health and environmentally conscious computer workers and their need for a comfortable chair when sitting over long periods of time whilst being kind to the environment, Koala’s ergonomic chair is a comfort solution that has been tried and tested by chiropractors for years. They are comfortable, strong and designed to provide support people sitting over long periods of time, as well as easy to assemble and made of eco-friendly sustainable materials. This statement summaries Koala as a brand and their new ergonomic chair they will sell (Gary Armstrong, 2017).

MMK101 ASSIGNMENT 2 BRIEF T1 2019 9 OF 10

[Delete this box before submission]Your Assessment must be formatted as follows:

Word document format only, A4 size (NO PDF)

12 point, Times New Roman font

Fully justified paragraphs, 1.5 or double spaced

Normal margins (2.54 cm left, right, top and bottom)

MMK101 ASSIGNMENT 2 BRIEF T1 2019 10 OF 10

2 . Marketing Mix Strategy 1: Product2.1 Analysis of the Company’s Current Product Strategy

Product Mix Analysis

Mattress Bed base Pillows Sheets Sofas !!KOALA’S NEW

ERGONOMIC CHAIR!!

The Original

Timber bed base

The Koala pillow

Starter set The Koala sofa

Komfy Chair

Single Duvet set King Single Flat sheet

DoubleQueen

King

The above table shows Koala’s current Product Mix Analysis, with the column in the red showing Koalas’ new product, their ergonomic chair. They have a wide width of product meaning they have a wide range of products available to customers. The length or their product line is small, meaning they stock very different versions of the product line. The variations to Koala’s products sold (depth) as shown is also very minimal meaning they do not sell variations to their product range.

Three Levels of Product

Core customer value (level 1): This value asks what the customer is really buying and why they core reason they are buying it (Gary Armstrong, 2017). Someone who purchases a Koala mattress core benefit they are seeking is most likely seeking comfort. Actual product (level 2): A products physical attributes that help deliver the core benefit of a product. These can include the design, quality, brand name and packaging (Gary Armstrong, 2017). The physical attributes that a Koala mattress offers is the quality of their mattresses, the easy

MMK101 ASSIGNMENT 2 BRIEF T1 2019 11 OF 10

Comfort and ergonoimc benefits

Quality

Returns policy including Koala's120 night trial

to assemble package it comes in and as well as their brand name as they have become very popular over social media.Augmented product (level 3): Level 3 involves additional benefits and services, built around the core value of the product that the consumer will expect after they have bought the product (Gary Armstrong, 2017). For Koala, this would include the 4 hour delivery and their 120 night trial with free returns if you are not happy with your product (Sleep, n.d.).

2.2 Recommendations

Product description Definition ExplanationProduct attributes Quality, Features, Design

and Style. (Gary Armstrong, 2017)

The quality, features, design and style of the product (Gary Armstrong, 2017). The ergonomic chair product attributes will involve its ergonomic benefits (quality), features such as height adjustment, design and style such as colour and fabrics.

Branding Name, slogan, phrase, design, symbol or all of the above on a product or service that differentiates its from competitors and helps consumers identify it. (Gary Armstrong, 2017)

A way of identifying the brand and differentiating it from other competitors (Gary Armstrong, 2017). Koala could put their logo on the back of their chair to allow people to identify the chair with their brand.

Packaging The wrapping and container of a product and how it is produced and designed. (Gary Armstrong, 2017)

How the final product is delivered to the consumer (Gary Armstrong, 2017). For their new ergonomic chair Koala could use environmentally friendly, biodegradable packaging, without plastic. How it is package will be important to many consumers. This proposed packaging will reflect the target market’s values.

Labeling Identifies, describes and promotes the product. (Gary Armstrong, 2017)

A way of easily identifying the brand (Gary Armstrong, 2017). This could involve Koala labelling their chairs as

MMK101 ASSIGNMENT 2 BRIEF T1 2019 12 OF 10

well as their packaging. Product support services The augmented product.

(Gary Armstrong, 2017)Additional services and benefits around the physical product (Gary Armstrong, 2017). This would include Koala continuing providing their after sale services such as their 120 night trials, 10 year warranty and free returns (Sleep, n.d.).

Koala should continue using a similar product strategy as it will be harmonious with the new product the ‘Komfy Chair’. To attract their new target market for the ‘Komfy Chair’, Koala should continue and focus heavily on the packaging of their product. They should use sustainable and eco-friendly material to ship their products and avoid harmful plastics to continue satisfying their eco-friendly and sustainably aware target market.

Koala could introduce their new chair into a new range called the ‘Komfy Kollection’. This collection could focus on partnering with a charity, organization or a cause, similar to the general product line they already have (Sleep, n.d.). Partnering with environmental organisations such as Zero Waste Victoria (Victoria, n.d.). Partnering with a new organization for their new ‘Komfy’ product line will attract consumers who have value the environment and reach a broader audience through exposure at charity events and on their website.

3. Marketing Mix Strategy 2: Promotion3.1 Analysis of the Company’s Current Promotional Mix Tools 3.2 Recommendations Three (3) promotional mix tools IMC Pie Chart

4. Marketing Mix Element 3 Strategy: Price/Placement4.1 Analysis of the Company’s current pricing/placement strategy 4.2 Recommendations

5. A1 and A2 Conclusion

MMK101 ASSIGNMENT 2 BRIEF T1 2019 13 OF 10

Reference List

MMK101 ASSIGNMENT 2 BRIEF T1 2019 14 OF 10