Assessment 2: Marketing Plan | My Assignment Tutor

Assessment 2: Marketing PlanPROJECT BRIEFWoodfordia Inc. – Producers of the Woodford folk Festival is our client forthis trimester.Your team can start by generally familiarising yourselves with the organisation and festival:Woodfordia Inc. Website – https://woodfordia.org/https://woodfordia.org/festivals/woodford-folk-festival/Woodford Folk Festival website: https://woodfordfolkfestival.com/Woodford Folk Festival Facebook: https://www.facebook.com/woodfordfolkfestival/Woodford Folk Festival Instagram: https://www.instagram.com/woodfordfolkfestival/Woodford Folk Festival Twitter: https://twitter.com/search?q=woodfordfolkfestivalWoodford Folk Festival YouTube: https://www.youtube.com/user/woodfordfolkfestivalOur marketing problem to resolve in the marketing report will be to: –(1) Identify ways in which Woodford Folk Festival can increase interstate visitors to thefestival over the next 3 years (2020/21, 2021/22 & 2022/2023) to increase WFF andQueensland tourism economic benefits.(2) Identify, describe and quantify TWO potential target market segments. Select one of themarket segments for detailed planning(3) Create a marketing plan (supported by WFF information provided, marketing theory andother information gathered from secondary sources) to attract the selected target marketsegment.(4) The marketing budget for this campaign will be a maximum of $65,000 comprised of$25,000 for 2021/22, $20,000 for 2022/23 and $20,000 for 2023/24. The 3-yearmarketing plan MUST show an overall financial return on investment to Woodfordia Inc.over the 3-year period. It is expected that, by the end of 2023/24 the marketing costsincurred of $65,000 will be recouped through ticket sales and that at least an annualadditional $25,000 in Box Office or other revenue will be gained as a result of themarketing plan (overall increase in revenue of at least $75,000 over the three-yearperiod).(5) All marketing proposals can include draft examples of any proposed creative content asan appendix e.g. YouTube, storyboard, mock-up of any print media etc.FOR CLARIFICATION OF ADDITIONAL INFORMATION EMAIL YOUR LECTURER –DO NOT CONTACT Woodfordia Inc. DIRECTLY.Please note that this is only intended as a basicexample of a marketing plan layout and thecontents may vary depending on therequirements of the authors and the particularcontent they wish to includeAssessment 2: Marketing PlanEXEMPLAR TEMPLATECover PageReport Title: Marketing Plan to significantly increase Interstate Visitors toWoodford Folk Festival in a Post-Covid 19 EraStudent Name (s) and Numbers:Subject Assessment: Marketing Management (LB5202) – TASK 2 – SP23 – 2020Date Submitted:Submitted to: Gregory TrotmanWord Count:………………………………………………………………………………………………………………………………………………………Executive Summary………………………………………………………………………………………………………………………………………………………Contents Page………………………………………………………………………………………………………………………………………………………1. Introduction2. ELEMENT ONE – GOAL SETTING2.1 Mission Statements2.2 Interstate Visitor GoalsMake thecover pageattractive.In an Executive Summary you should state what the report is aboutand your major findings and recommendations.Write this last – nomore than ½ pageFormal Report Introduction contains (1.1) The subject of the report and whocommissioned the report (1.2) any limitations in research or gaps inknowledge that the reader should be aware of when relying on the report(1.3) the scope of the report summarising what the report covers and howthe information was gathered (e.g. secondary sources only)No more than 1/2page Includes mission statements available for Woodfordia Inc. andWoodford Folk FestivalIncludes specific corporate goals relating to the commissioning of thisreport (Interstate Visitor growth) Refer to the separate Sample Contents Page for the report structureAssessment 2: Marketing Plan3. ELEMENT TWO – Situation review of current WFF and Interstate Visitor market3.1 Current Interstate Visitor market segments and marketing strategies3.2 SWOT analysis3.4 Competitive positioning analysis4. ELEMENT THREE – Strategy formulation and target market segmentation4.1 Marketing Objectives and target market segment(s)4.1.1 Specific Objectives (SMART) for marketing to interstate market segments4.1.2 Potential Interstate Visitor Target Market segments4.1.2 Selected Interstate Visitor Target Market segment (description, justification)4.2 Three Year Marketing Plan Mix for attracting Interstate Visitors4.2.1 Product4.2.2 Price4.2.3 Promotion (attach copies of any proposed promotional material drafts as an appendix)4.2.4 Place4.2.5 People4.2.6 Process4.2.7 Physical Evidence4.3 Three Year Marketing Plan Activity Schedule (GANTT chart)5. ELEMENT FOUR – Resource allocation and monitoring5.1 Budget5.2 Non-financial Resource Implications5.3 Monitoring and Reviewing6 ConclusionsINCLUDE BRANDPOSITIONING MAPCritical section –the description in4.1.2 must be asspecific andcomprehensive aspossibleCritical section –you must providedetails and justifywhy this works forMarket Segment(4.1.2)Need to include estimated income,expenditure and net results (as abudget table) PLUS likely cash-flow overthe 3 years.Need to include mention of any otherresource implications (e.g. existing staffand facilities etc.)Need to include how you are going to make sure the plan ison track and put in place and a time when it should bereviewed and updated. Metrics to measure success?The conclusion allows you to summarise what you haveachieved in the marketing plan – it should be short andsuccinct (all information should be already mentioned in thebody of the report)Assessment 2: Marketing Plan7. RecommendationsReference ListAppendicesNOTE:REFERENCES:Should be in APA7 format. List should be in alphabetical order. Should use a combination of academicarticles, marketing theory, industry sources and media articles. Expectation that you will include aminimum of 7 references, at least 3 of which will be academic.Note: all work that is not yours must have an in-text citation (in the body of the report) and an associatedfull reference (in this concluding References section)APPENDICES: Each appendix should have a numbered title that aligns with what you included in the bodyof the report. Remember that core information MUST be in the body of the plan – appendices are foradditional supporting information only.SMART recommendation(s) based onthe previously stated findings of thereport.Use APA 7 referencing style (IncludingDOI’s)Note: you must also use in-text citationsRemember –Only put in the appendicesthose items that are too big for theReport Body. E.g. you might have aBudget Summary in the Report Bodythat then refers to the Full Budget inAppendix X

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