critically analyse all relevant factors affecting the exchange process

O??????????????????????bjectives:•To enhance a clear understanding of the importance of marketing in modern businesspractices;•To develop a succinct understanding about marketing theories and their application indevising marketing strategies;•To critically analyse all relevant factors affecting the exchange process;•To enable developing insightful marketing strategies for a business.How the assessment fits into the subject/course:Marketing in the 21st century has evolved profoundly where developing winning marketingstrategies has been integral to businesses of all types to achieve its strategic objectives. Thisassessment provides students with the opportunity to apply the knowledge and insights developedin the marketing subject to develop effective marketing strategies for a business, a product, or abrand. Students are required to develop a complete marketing plan for the Business Case given onthe Blackboard. The emphasis within this assessment should be placed on expanding various stepsas recommended in the marketing plan template while the current marketing situation and threatsand opportunities analysis to be briefly discussed by summarising the discussion from theassessment 1.Linkages between Assessments 1 and 2:This assessment builds on the assessment 1 therefore you will be working on the sameBusiness Case given on the Blackboard for Assessment 1. In assessment 1 you have addressedtwo (i.e., current marketing situation and threats and opportunity analysis) out of the eightsteps of a marketing plan. In this assessment you are required to develop a completemarketing plan for the Business case given on Blackboard.Instructions:This assessment task builds on the Situation Analysis that you undertook in Assessment 1. Thisassessment task requires you to expand the remaining steps of the marketing plan to:• Articulate your learning about marketing theories, concepts and principles covered inthe course to demonstrate your level of understanding of them to develop a marketingplan;• Articulate the link between marketing theories and practices;• Demonstrate an acceptable level of research skills to reveal the insights;• Apply appropriate business report writing skills;• Demonstrate a logical flow and cohesiveness in the analysis and discussion.• Use the appropriate in text citation and a reference list in the end of your written work. Youshould provide at least 15 high quality marketing references to show quality of research.STRICTLY adhere to the APA style in referencing. Please see more information on referencinghere: https://library.torrens.edu.au/academicskills/apa/toolScenario:This assessment requires you to act like a consultant to help an organisation develop a winningmarketing strategy that intends to introduce a new product or expand its business/markets.Tasks:This assessment builds on the previous assessment, Situation Analysis of your chosenorganisation that you undertook in the assessment one. Therefore, you need to revisit yourassessment 1 and the feedback from your facilitator. Address the concerns, if there is any,indicated for your attention while summarising the discussion from the a??????????????????????ssessment 1 for thecurrent market situation and the opportunities and threats sections for your marketing plan (i.e.,assessment 2). Then, develop a complete marketing plan for this assessment:1. Develop a marketing plan – The aspects that you should include are:a. Identify objectives and issues as well as marketing logic to create customer value;b. Segmentation, targeting and positioning as well as marketing mix strategies (i.e.,4ps/7ps);c. Action programmes – how marketing strategies will be turned into specific actions thatanswer What will be done? When will be done? Who will do it? and How much will itcost (budget)? and controls.To start with this assessment –2. Outline the following steps:a. Clearly define the value proposition of your chosen organisation, product, or the brand;b. Critically evaluate the overall situation of the organisation (should be summarised fromthe assessment 1) and suggest appropriate marketing mix strategies:c. Product – define the product attributes/features to reflect your value propositionsYou are advised to review the threes levels that are accompanied with a product and discussproduct line and mix strategies;d. Pricing – describe the pricing strategy (cost-based, value-based and competition) that youwould recommend to the senior management of the organisation and justify your choice;e. Distribution – outline the distribution strategies, you should discuss a specific distributionstrategy (s) – intensive, selective, and exclusive. You also need to discuss channel strategies(i.e., direct and/or indirect, channel levels – single vs. multiple);f. Promotion – critically evaluate the promotion strategies you would recommend (i.e., pull vs.push). You also need to discuss promotional mix strategies (i.e., advertising, salesmanship,sale promotion, publicity, and public relations) as well as media strategies.Please beware that your marketing strategies should be aligned with the key issues andobjectives and/or value proposition, the organisation’s mission, and vision.g. Action programmes – explain how marketing strategies will be turned into specific actionprogrammes.h. Budget – provide a supporting marketing budget which is essentially a projected profitand loss statement.i. Control – outline the controls that will be used to monitor the progress.Submission Instructions:Submit your assignment via the Assessment two link in the main navigation menu in the Blackboard inMKT600/MKTG6002. Your Learning Facilitator will announce the specific due day, date, and time for thesubmission. Please review the TUA overdue policy described in page 5, that applies a 10% deduction/dayup to five days and then 0, through the link copied below:https://laureateaus.sharepoint.com/sites/MyTorrens/Shared%20Documents/Forms/Policies_Filter.aspx?id=%2Fsites%2FMyTorrens%2FShared%20Documents%2FPolicies%2Fassessment%20policy%20for%20he%20coursework%20and%20elicos%5Fpl%5Ftua%5Fac%2Epdf&parent=%2Fsites%2FMyTorrens%2FShared%20Documents%2FPolicies&p=true&originalPath=aHR0cHM6Ly9sYXVyZWF0ZWF1cy5zaGFyZXBvaW50LmNvbS86Yjovcy9NeVRvcnJlbnMvRWFLY2xTM28tUHBOa25uX2ZQV2Z6c2NCRzJFSVI0OXJ0amxjYlF??????????????????????5bGZDYjl0dz9ydGltZT1pWEF5NDdrLTJVZw