BUSM4739 Marketing For Managers Assignment 2 – RMIT University Australia.

Subject Code & Title: BUSM4739 Marketing For Managers
Assessment type: Report (individual)
Word Count: Word limit: 2500
Weighting: 40%
Overview:
This Value Proposition report is a continuation of your Marketing Intelligence report (Assessment 1).The aim of this assessment is for you to recommend a new value proposition by incorporating a new brand strategy and product/service innovation strategy for the Industry Partner by drawing from your Assessment 1 research findings, and proposed growth strategies.
BUSM4739 Marketing For Managers Assignment 2-RMIT University Australia.

To be successful in this assessment you must draw insights from your Assessment 1 as this is critical to inform your discussions. You are required to demonstrate your understanding of customers higher-order values and motives, superior application of the Value Proposition creation processes, demonstrate a reimagining of a brand purpose and strategy as well as relevant product/service strategy. These skills are highly imperative in Marketing to add value to a
company’s brand narrative.

You will need to apply several marketing activities taught in the course to complete this report. A successful report will be able to demonstrate appropriate understanding and application of the theories of Value Proposition creation (such as Brand Purpose, Brand Champion, Value Proposition Canvas as well as Kotler and Lee’s Five Product Levels model) to propose a meaningful Value Proposition that is consistent with the Industry Partner’s brand, and which will be appealing to its target market. You will receive written (on Canvas) and verbal feedback (discussed in class) as to help
you to prepare for Assessment 3.

This report will form as a basis when developing further Communications strategy (Assessment 3) to add value to the Industry Partner’s brand narrative.

Assessment criteria:
This assessment will measure your ability to:

• Formulate a comprehensive brand strategy consistent to an organisation’s brand purpose and their target market values
• Formulate relevant product/service strategy that is consistent to an organisation’s brand strategy and compelling for their target market
• Formulate a compelling value proposition to generate a persuasive narrative for an organisation
• Present a marketing report in a clear, concise, informative and professional format

Course learning outcomes:
This assessment is relevant to the following course learning outcomes:

CLO1: Apply the key concepts and tools of marketing theory and practice to enable application of marketing functions in a professional context.
CLO2: Implement the strategic marketing planning process to develop and manage a marketing plan.
CLO3 : Use the marketing information and research tools to perform a marketing situational analysis.
CLO4 : Analyse quantitative and qualitative information to assess risk implications in business decisions.

BUSM4739 Marketing For Managers Assignment 2-RMIT University Australia.

Assessment details:
Introduction:
In this assessment, you are required to make several recommendations regarding the Industry Partner’s value proposition, which relates to their brand and product/service strategy. You will need to draw insights from the analysis that you conducted in Assessment 1.

Value propositions incorporate intangible value, inherent in the brand strategy, and tangible value contained in your product/service innovation strategy including both core and augmented product/service attributes.

The aim of a value proposition is to create a market offering that appeals to your consumers higher-order values and motives and functional desires and/or needs. Value proposition serves two basic functions:

• it is a promise to deliver value to the target market and
• it differentiates a company from its competitors.

Supporting activities:
The following table outlines what is taught in the course and which sections link to the assessment.

Report Structure Requirements:
The below sections are a guideline to follow for Assessment 2:

Executive summary:

• The summary provides a summation of the report’s aim and findings. An executive summary is beneficial for Executives who might not have time to read an entire report but want to understand the main findings/highlights of the report. The executive summary is not an introduction that informs what is to come.
• The reader needs to know exactly what you did and why, and importantly what you found and recommend. The conclusion of your proposed argument (recommendation, or key findings) appears in your executive summary.

Section 1: Brand Purpose:

In Assessment 1, you completed an analysis of the Industry Partner’s current brand purpose. In Section 1 of this assessment, you will need to firstly evaluate their current brand strategy and, secondly, propose a new brand purpose by following the processes taught in the course and by thinking about the below, which will assist with justifying:

1) Your findings from Assessment 1

2) Issues/concerns mentioned in the Industry Partner’s project brief (Canvas Module), and

3) All findings and information discussed in this section need to be properly referenced.

Section 2: Product/Service Strategy

In this section, you need to:

• Analyse and critique the Industry Partner’s current product/service by using Kotler and Lee’s Five product levels model and,
• Propose a new product/service strategy by improving or modifying one or more elements of the five levels model. You need to take into consideration the below:

1) The brand purpose that you recommend in Section 1 above

2) Your Assessment 1 findings

3) Issues/concerns mentioned in the Industry Partner’s project brief (Canvas Module)

The aim is to synthesise a new product/service strategy that is in alignment with the Industry Partner’s brand purpose and the brand champion’s values.

All findings and information discussed in this section need to be properly referenced.

BUSM4739 Marketing For Managers Assignment 2-RMIT University Australia.

Section 3: Value proposition

• This section is the culmination of the entire report. Now that you have proposed a new brand purpose (Section 2) as well as new product/service strategy (Section 2) for the Industry Partner, you then need to synthesis a new value proposition for the company.
• You will need to demonstrate use of a value proposition canvas for this task.
• All findings and information discussed in this section need to be properly referenced.

Section 4: Conclusions
• Provide a comprehensive conclusion of your report, drawing from the content of Section 1-3.