Product Development and Marketing Strategy Presentation
Your business proposal to the bank has been going well so far. Based on your understanding of the market, the competition, your consumers, and your likely segment and targeting approach, and working with the feedback from the bank manager, you have been asked to present your overall marketing strategy, as well as outlining your new product idea to the manager and the board of directors of the bank. You know that this presentation will help them make their final decision about giving you the business loan.
However, you know that many people on the board do not have a marketing background, so you need to first explain the concepts of marketing strategy to them in order to justify your strategies and recommendations.
In addition, as part of your research, you noticed that there is now some volatility and changing trends in the macro- factors and other contemporary issues that are influencing the market right now and may impact on the success of your new product idea. Thus, you will also need to address these issues and trends in your presentation.
To complete this taskyou need address the following four components:
- Define and describe the theoretical concepts of the extended marketing mix by providing a very brief overview of theory of the Seven Ps (i.e. product, price etc- no more than one slide);
- List the 8 step process of new product development with a specific details that clearly explain and justify the process used for the new product development for your organisation
- Identify and briefly outline one key market trend or societal issue (such as macro factors i.e. law, technology etc, corporate social responsibility, environmental issues, ethics and diversity) that is likely to affect your marketing strategy and explain its potential impact; and
- Finally, (based on all the components above) make specific and well justified recommendations for a marketing strategy given your new product offering containing the appropriate marketing strategies mix linking this back to your consumer profile (i.e. your own creative suggestions for place/promotion/price/ positioning etc).
OPTIONAL INTERNAL MODE:
Instead of the face-to-face class presentation as originally planned, please upload your narrated slides and scripts (in notes section) to Turnitin and then after the due date post a copy of your recorded presentation onto our i2 site in discussion board. Then please come along to our final online virtual tutorial workshop to present your slide which contains the recommendations for your product. Participation in the final workshop will require you to have microphone capability in order for you to practice your virtual presentation skills and continue to learn from each other.
RATIONALE
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This assessment task will assess the following learning outcome/s:
- be able to analyse real-life situations in the corporate, and/or small medium and entrepreneurial business sector and/or not for-profit organisations using marketing frameworks and practice.
- be able to develop an overview of the business planning process for different types of organisations.
- be able to define and describe marketing concepts in complex and diverse markets.
- be able to examine key societal and business issues related to marketing activities.
- be able to create and communicate marketing strategy solutions and recommendations for organisation.
MARKING CRITERIA AND STANDARDS
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| Criteria: The various skills to be assessed | High Distinction(34-40) | Distinction (30-33.5) | Credit (26-29.5) | Pass (20-25.5) | Fail (0-19.5) |
| Theoretical foundations: Defined, described and analysed concepts of marketing mix Each theoretical element of the extended marketing mix is explicitly defined and described. A comprehensive and insightful theoretical discussion of the new product development process is presented and supported by outstanding research using academic and industry sources. 0-10 marks |
Defined, described and analysed concepts of marketing mix with a comprehensive and insightful theoretical discussion of new product development process as part of marketing strategy which has been evaluated and supported by outstanding research using by a range of relevant and valid academic and industry sources. | Defined, described and analysed concepts of marketing mix with a comprehensive theoretical discussion of new product development process as part of marketing strategy. Each element of the extended marketing mix explicitly evaluated and supported by a range of relevant and valid research from academic and industry sources. | Defined, described marketing mix and analysed by comparing and contrasting concepts of new product development process
Good research from a range of relevant academic and industry sources. |
Theoretical concepts of the marketing mix are defined and described and an a analysis through a basic comparison of concepts of the new product development process has been presented
Good research from a range of relevant academic and industry sources |
Unsatisfactory work, no definitions or descriptions of theoretical concepts provided and a lack of research |
| Develop an overview of the business planning process for different types of organisations through an analysis and application of market strategy:Thorough analysis of the current market strategy of your chosen organisation and clearly linked to theoretical marketing mix framework with new product development process. Application to organisation is justified, logical and insightful. Recommendations of an explicit, realistic sustainable and competitive marketing strategy (i.e. plan) that are supported by research using academic and industry sources to real-life business context
0-15 marks |
Thorough analysis of how and why current marketing strategy functions. Clearly linked to theoretical marketing mix framework with new product development process.
Application to organisation is justified, logical and insightful. Recommendations are linked to a real-life organisation and are an explicit, realistic sustainable and competitive marketing strategy and are supported by research using academic and industry sources. |
Thorough analysis of current marketing strategy. Clearly linked to theoretical marketing mix framework with new product development process.
Application to organisation is justified and logical. Recommendations linked to a real-life organisation and are an explicit, realistic and sustainable marketing strategy and are supported by research using academic and industry |
Analysis of current marketing strategy functions. Clearly linked to theoretical marketing mix framework with new product development process.
Application to organisation is justified. Recommendations are linked to a real-life organisation and are an explicit, realistic marketing strategy that are supported by research using academic and industry |
Analysis of the current market strategy. Clearly outlined the new product development process Clearly linked to theoretical marketing mix framework.
Application to organisation is justified. Recommendations are linked to a real-life organisation and are an explicit marketing strategy that are supported by research using academic and industry |
No analysis of current market strategy, no recommendations to a real-life organisation are provided |
| Describe the complexity and diversity of markets and marketing’s response to it as well as examine key societal and business issues
A key societal issue or market trend is identified and described with analysis of its likely impact on marketing strategy which is insightful, logical and embedded with market data |
A key societal issue or market trend is identified and described with analysis of its likely impact on marketing strategy which is insightful, logical and embedded with market data | A key societal issue or market trend is identified and described with analysis of its likely impact on marketing strategy is clear, explicit and embedded with market data | A key societal issue or market trend is identified and described, analysis of its likely impact on marketing strategy is clear and embedded with market data | A key societal issue or market trend is identified and described with an evaluation of its likely impact on marketing strategy | Limited consideration of market trends or issues affecting marketing strategy |
| Oral Communication and Presentation
Create and communicate with professional formatting a logical and persuasive sequence of ideas. With minimal spelling, grammar errors. Information is presented in easily understood tables, figures and images. Evidence of commitment to the role play task with appropriate and engaging intonation within the spoken scripted narrative |
Excellent presentation
Professional formatting, logical and persuasive sequence of ideas No spelling or grammar errors Information is presented in easily understood tables, figures and images and role play commitment with appropriate engaging intonation and scripted narrative |
Very good presentation professional formatting, logical and persuasive sequence of ideas No spelling or grammar errors.
Information is presented in easily understood tables, figures and images and role play commitment with appropriate engaging intonation and scripted narrative |
Good presentation professional formatting, logical sequence of ideas.
No spelling or grammar errors Information is presented in easily understood tables, figures and images and role play commitment with appropriate intonation and scripted narrative |
Presentation in a report format with headings for structure
Limited errors in spelling and grammar |
Numerous errors in presentation, spelling, grammar. No commitment to role play. No narration |
| Referencing Error free use of APA 6th style and application for in-text and reference list 0-5 marks |
APA style referencing used both for in in-text application and reference list- Error free referencing using APA in style and application | APA style referencing used both for in in-text application and reference list- errors in use of APA referencing in style and/or application in use of APA | APA style referencing used both for in in-text application and reference list-minor errors in style and/or application in use of APA | APA style referencing used both for in in-text application and reference list- major style and/or application errors in use of APA | No referencing and/ or use of APA referencing style and application |
PRESENTATION
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Develop a presentation with a voice-over narration to answer each section of the task. Your presentation should reflect the role play scenario and deliver the ideas to the bank manager.
Regardless of which software you utilise (i.e PowerPoint or other software) for your presentation, please check your audio and/or animation are all working before submission.
I recommend Screencast-o-matic (free online software) that captures a video of you and your computer screen (showing your slides) with good audio.
Ensure you include an introduction, conclusion and reference list. These are not included in your slide count.
See the resources folder in Interact 2 for examples of different types of presentations to help inspire you.
Suggestions for valid and reliable data sources can also be found in the i2 site
After the due date, please share a copy of your presentation online in the discussion forums of your i2 site and prepare to present your recommendations slide in your final virtual tutorial workshop so you can learn from your peers.
