Loading subjects
Developing a marketing plan · Part 1 of 4
6 exam-style questions with model answers, plus 6 quick multi-choice questions — every question on this part of the standard, grouped by the 2 pages of notes they come from.
Write a full answer before you reveal the model one. That comparison is where the learning happens.
Name the four stages of a marketing plan, state what each stage contains, and explain why the market situation must be completed before the marketing strategy is written.
A marketing plan for Waipuna Textiles (invented business) finds in its market situation that the product's main weakness is a distribution network reaching only 12 of the 90 stores in its target channel. The strategy that follows is a consumer social media campaign. The plan's aim is to double revenue from that channel within a year.
Fully explain why this plan is not sound, and how the fault affects Waipuna Textiles' ability to reach that aim.
Rimu River Skincare (invented business) has asked a student to develop a marketing plan and has offered a choice of product.
Option A — a new product: a mineral sunscreen the business has formulated but has never manufactured or sold.
Option B — an existing product: its best-selling cleanser, sold in New Zealand for six years and now to be taken into the Australian market.
Evaluate which product would produce the stronger marketing plan. Justify your recommendation, including any new information.
Explain the difference between a mission statement and a corporate objective, and explain why a marketing plan must name the corporate objective it serves.
Tāhuna Trail Foods (invented business) makes muesli bars. Its mission is "to make the food that gets New Zealanders outdoors, from ingredients grown by New Zealand farmers we know by name". Its corporate objective is to grow revenue from $4.0 million to $5.2 million within two years.
Fully explain how the mission constrains the marketing strategy this plan can choose, and how that constraint affects the business's ability to reach the revenue objective.
Te Awa Honey (invented business) is a whānau-owned mānuka honey company in the Bay of Plenty. Its pūtake — its reason for being — is to keep the hives, the extraction and the packing within the rohe and to employ locally, so that the value of the honey stays with the people whose land it comes from. Its corporate objective is to double export revenue within three years.
Two marketing aims have been proposed.
Aim A: supply a large overseas online marketplace under that marketplace's own label — high volume, a low price per jar, no Te Awa branding on the pack.
Aim B: build a branded presence in premium Australian pharmacies — lower volume, a high price per jar, Te Awa's own label and story on the pack.
Which aim should the marketing plan serve? Justify your recommendation, including any new information.