BSBMKG514_Ed1

.docx

School

TAFE NSW - Sydney Institute *

*We aren’t endorsed by this school

Course

514

Subject

Marketing

Date

Jan 9, 2024

Type

docx

Pages

Uploaded by DeanMeerkatMaster1028 on coursehero.com

BSBMKG514: Assessment Student number 807839594 Student name Philippa Gregory Assessment Declaration  This assessment is my original work and no part of it has been copied from any other source except where due acknowledgement is made.  No part of this assessment has been written for me by any other person except where such collaboration has been authorised by the assessor concerned.  I understand that plagiarism is the presentation of the work, idea or creation of another person as though it is your own. Plagiarism occurs when the origin of the material used is not appropriately cited. No part of this assessment is plagiarised. Student signature and Date Philippa Gregory 28/06/2021 LA019776 Assessment 2 BSBMKG514 Ed 1 1 © New South Wales Technical and Further Education Commission, 2015 (TAFE NSW – WSI), Archive version 1, August 2015

BSBMKG514: Assessment 2 Tasks Task 1 a) Describe how you would effectively implement marketing activities for a product of The Aussie Toy Company Ltd. Product – Powerville Toy Pricing – penetration Placement – Intensive distribution Promotion – advertising and merchandising The marketing plan has now been outlined and requires implementing. It has been signed off by the CEO and is now ready for roll out. For it to be successful, you need to ensure you have adequate resources and expertise to implement it. The first step is to communicate who will be on the marketing implementation team, for this case it will be a mix of internal and external staff. As not all the expertise is in-house, it will be sourced from marketing partners. There will be a requirement for IT specialists to set up the platform for the new online game, set up QR codes for the trading cards. The R&D team will be required to design the new toy to marketing design brief. The finance team will need to cost the product and set out a costing promotion plan against the budget. Partners will need to be sourced for the YouTube and advertising material, and this be required from external companies such as advertising agencies. The sales and merchandising team will need to set up the new product in store and communicate to the stores for product placement on shelf. Budget will be required for the production trials and ideation of the trading cards. Training will be required for the instore demonstrators. When the team is assembled, and each member has the correct skill fit, the team is established. The next step is to communicate the plan, and to ensure the team and organisation know what the marketing goals are. The goal is to introduce a new interactive model for the Powerville game, with trading cards that have QR codes, that give special powers to the characters. It will be in direct competition with Skylanders, but for an older market. The intent is to price penetrate at pocket money level and distribute widely. It is important to give the whole organisation an overview of the efforts to create excitement and make the whole business feel part of what is happening. Meetings should be held once a week, and the project managed with a Gantt chart. All team members will be allocated tasks, and these will be scheduled on a Gantt chart. Team members will be measured against accomplishing tasks and meeting timelines. It makes sense to take the over all project and break it down into tasks, it will feel more manageable. 2 LA019776 Assessment 2 BSBMKG514 Ed 1 © New South Wales Technical and Further Education Commission, 2015 (TAFE NSW – WSI), Archive version 1, August 2015

The project will need tracking with key metrics. The metrics should meet the overall objective of launching this new toy into the marketplace. Key performance indicators (KPIs) will be measured and reported upon to senior management. The strategy will need monitoring and checking in on a regular basis. Weekly checks in with the team will be a forum to discuss what is working and what isn’t. Reviewing the progress, helps everyone to know how things are going and that the goal is being achieved. The project is being monitored, the questions that will need asking is:  Are we on track?  Have the tasks been too ambitious?  Is the budget on track?  Are there any strategies that are not working? It is important to make adaptations or adjustments, for example if the distribution is not going to plan, maybe it will need to be reviewed to reduce the number of stores delivered to. Once the toy is launched, results should be communicated. A three month and a six month review should be performed to ensure the product is sticking in the market place, with a review against sales. b) Outline the specific actions required to be implemented (what, how, by who, by when) related to the marketing mix activities. You can use a table format for your responses. WHAT Strategy? Marketing mix strategies for each P How Actions required Who Who is responsible How much will it cost or number of hours By When Launch a new range of Powerville action toys for 10- to 16-year-old boys. These toys will be part of the new online game of the same name Powerville. They will consist of superheroes in plastic packaging with collecting cards for superpowers, to be used as trading cards. The cards will be different from competitors as they will have a QR code with unique properties that can be scanned in and used as part of the online gaming. Develop new toy product packaging and take advertising photographs Create trading card design and superpowers matrix for cards Create multiple QR codes for trading cards and ensure compatibility with the on-line game Powerville Update online game and download software for user upgrades Update the website to include images of the new toys Create taglines and stories for the online gaming Brand Manager and Design House Marketing Design executive IT specialist IT specialist IT assistant and web designer Marketing Manager 28 hours x $60 per hour (Both wages) 50 hours x $50 per hour 30 hours x $50 per hour 10 hours x $50 per hour 7 hours x $40 per hour and 3 hours x$60 per hour 30 June 2021 25 Jul 2021 30 Jul 2021 30 Aug 2021 1 Sept 2021 30 Jun LA019776 Assessment 2 BSBMKG514 Ed 1 3 © New South Wales Technical and Further Education Commission, 2015 (TAFE NSW – WSI), Archive version 1, August 2015

superpowers from the trading cards. 10 hours x $60 per hour 2021 The pricing strategy will be penetration on product launch, this will be a low upfront price to attract customers. It is intended to attract a larger base of customers away from competing brands such as Skylanders. Skylanders is for the younger market, so these products will need to be priced so they are accessible at pocket money levels. Retailers will initially be offered a short- term discount to stock the product. It is aimed that this product will be 10% less than the equivalent competitor. Consumers will be offered a discount of 20% off when two models purchased. Marketing manager to benchmark competitors pricing Cost price of product to produce with overheads, packaging costs, production costs Finalise price of the Powerville model with QR cards at $15 Negotiate with retailer the purchase price and the primer of a 15% reduction for the first two weeks of shelf placement in store Finalise marketing campaign of a launch price promotion of buy two models for 20% discount, to be implemented at point of sale Budget for funds for pricing promotional activity for consumer and retailer discounts Marketing manager Finance Assistant Sales Director sign off Sales Manager Marketing Manager Finance Manager 2 hours x $60 per hour 2 hours x $35 per hour 1 hour x $ 100 per hour 3 hours x $60 5 hours x $60 5 hours x $60 25 June 2021 30 June 2021 25 Jul 2021 25 Jul 2021 30 Jul 2021 1 Aug 2021 Placement strategy for the Powerville models will be intensive distribution where the product will be sold in newsagents, IGA, Coles, Woolworths, and gaming stores. Additional sales staff will need to organise distribution to newsagents. The toys will also be available on Amazon and part of amazon prime for next day delivery for customers. Set up distribution network into Coles and Woolworths through current distribution process Secure product placement in Coles and Woolworths on the toy aisle at eye level for shelf space, with banners and end of aisle merchandising for impulse purchases Train staff in toy features for demonstrations in store as part of merchandising Set up selling platform on Amazon prime and organise delivery of toys to Logistics manager Sales Director Training Exec IT Software developer and 3 hours x $60 3 hours x $60 5 hours x $50 10 hours x $50 20 Jul 2021 10 June 2021 01 Aug 2021 25 Jul 2021 4 LA019776 Assessment 2 BSBMKG514 Ed 1 © New South Wales Technical and Further Education Commission, 2015 (TAFE NSW – WSI), Archive version 1, August 2015

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version