BMA351’Marketing’Management’ ‘

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Information’for’students:’Phase’2′;’Strategies’&’Implementation’ ‘ ‘ 1.’Marketing’Goal’and’Objective’
(NOTE:’You’should’match’the’firm’s’Strengths’with’its’Opportunities,’and’that’minimise’its’ Weaknesses’and’avoids’Threats).’ !
Marketing’Goal:’__________________________________________________” ‘ One”sentence”‘overview’”statement.” ‘ ‘
Marketing’Objective:’__________________________________________________” ” ” ” ” “” “”__________________________________________________” ”
More”detail”is”required”here.”Note”that”the”objective”must”conform”to”the”SMART” framework.’ ‘ ‘
BMW AUSTRALIA
2.’Specific’Marketing’Strategies’ ‘ a.’Target’Market’ Primary”target”market:”________________________________________________” ”
This”target’s”basic”needs:”Identifying”characteristics”(demographics,”geography,”values,”
psychographics):”Purchasing/shopping”habits”and”preferences:”Consumption/disposition” characteristics:” ”
The”Marketing”Mix:”How”will”you”arrange”the”Marketing”Mix”elements”to”achieve”the” marketing”goals”and”objectives”identified”above?” ” ” b.’The’Marketing’Mix’
(Note:’Please’be’VERY’specific’about’your’marketing’mix’discussion’–’remember’that’your’
marketing’mix’must’be’a’useful’guide’to’action.’It’is’better’to’be’specific’about’a’select’few’of’ marketing’mix’elements’than’to’cover’too’many’elements’briefly).’ ‘
Describe”the”specific’ways”that”the”firm”can”match”its”relative”strengths”to”its”opportunities” to”create”capabilities”in”serving”customers'”needs.” ”
Are”these”capabilities”and”competitive”advantages”grounded”in”the”basic”principles”of”
operational”excellence,”product”leadership,”and/or”customer”intimacy?”If”so,”how”are”these” capabilities”and”advantages”made”apparent”to”customers?” ”
Describe”specifically’how”the”firm”might”convert”its”relative”weaknesses”into”strengths”or”its”
threats”into”opportunities?”If”not,”how”can”the”firm”minimise”or”avoid”its”weaknesses”and” threats?” ”
Does”the”firm”possess”any”major”liabilities”(unconverted”weaknesses”that”match” unconverted”threats)”or”limitations”(unconverted”weaknesses”or”threats”that”match”
opportunities)?”If”so,”are”these”liabilities”and”limitations”apparent”to”customers?” ”
3. Marketing Implementation & Control ” A. Implementation – Tactical Marketing Activities (NOTE: Be very specific—this lays out the details of the marketing management
process – i.e. how you intend to achieve your stated goal)
You are required to present your discussion as a “specific set of instructions” that others could follow for the achievement of your goal (i.e. you are to provide a
specific account of what you would have others do).
These seven steps noted below are only a guide, and may not be relevant to your particular goal. “”Specific Steps to Achieve the Marketing Goal Person/Department
Responsible Rationale for the step Control Mechanism ” 1. Market Research 2. Analyse the Data 3. Reformulate the Marketing Mix Elements 4. Test Market the New
Marketing Mix 5. Evaluate the Results 6. Launch the Marketing Campaign 7. Market Research Name the specific position or agency you feel responsible for completing each
step. This is the most important information to include in your answer. Be very specific about what you intend to do in each step Use the list (in B. below) to
determine what “evaluation and control” mechanisms you would employ for each step to ensure it was effective
B. Evaluation and Control Describe the types and levels of ‘formal controls’ that will be used to ensure the implementation of your stated goal. (Note: You are not
required to discuss informal controls.) ” Input controls (actions needed before the marketing plan can be executed) Additional”financial”resources”needed”
Additional”capital”expenditures”needed” Additional”research”and”development”expenditures”needed” Revised”human”resource”activities:”
Employee”recruitment”and”selection” Employee”training”programs” Employee”manpower”allocations” Other”needed”input”controls” Process controls (actions needed during the
execution of the marketing plan) Management-focused controls: Altered lines of authority/structure (organizational chart) Management commitment to the marketing plan
Management commitment to employees Employee-focused controls: Altered employee evaluation and/or compensation systems Enhanced employee authority and empowerment
Organisational controls: Internal marketing and communication programs Ensuring organisation-wide customer orientation ” Output controls (performance standards to be
compared to marketing goals and objectives during and after the execution of the marketing plan) • Overall performance standards (Specific standards will vary based
on the goals and objectives of the marketing plan. Standards could be set in one or more of the following areas: sales in dollars, sales volume, market share, share of
customer, profitability, customer satisfaction, satisfaction metrics, or customer relationship maintenance). • List potential corrective actions that can be taken if
actual performance does not meet these standards. • Product performance standards (Standards could be set in one or more of the following areas: product
specifications, core product quality, supplemental product quality, experiential quality, new product innovation, branding, or positioning). • List potential
corrective actions that can be taken if actual product performance does not meet these standards. • Price performance standards (Standards could be set in one or more
of the following areas: revenue, supply/demand balance, price elasticity, yield management, or outcomes of pricing tactics and adjustments). • List potential
corrective actions that can be taken if actual pricing performance does not meet these standards.
• Distribution performance standards (Standards could be set in one or more of the following areas: effectiveness, efficiency, integration, value, collaboration,
conflict, outsourcing, direct distribution). • IMC (promotion) performance standards (Standards could be set in one or more of the following areas: communication
objectives, awareness, brand recognition, brand recall, customer interest, campaign reach, frequency, and impressions, public relations effectiveness, sales
effectiveness, sales promotion effectiveness). • List potential corrective actions that can be taken if actual IMC performance does not meet these standards. ”
Marketing audits • Explain how marketing activities will be monitored. • What are the specific profit- and time-based measures that will be used to monitor marketing
activities? • Describe the marketing audit to be performed, including the person(s) responsible for conducting the audit. ” ” ”

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