MMK101 Marketing Fundamentals - Assignment Help

Assignment Background: Purpose and Objectives

This assignment follows on from assignment 1. Based on the target market and positioning strategy you have identified and recommended in Assignment 1, your task is to propose a detailed sustainable marketing mix program (4Ps ‐ product, price, placement and promotion) that will assist Foundry Chocolate’s Management in making a better‐informed decision as to whether to enter the Australian marketplace (based on your chocolate block/bar recommendation from assignment 1. Please note. You are able to change the direction of the assignment based on the feedback from assignment 1 e.g., change target market, differentiation strategy(s).

Assignment 2 Objectives

Use the Foundry Chocolate’s block/bar as identified in assignment 1, which you believe is the most attractive to introduce to the Australian market (and aligns with your chosen target market and differentiation strategy(s)) and develop the following marketing mix strategies, with justification (primary and secondary research):

1. Develop the Foundry chocolate product to better meet the needs and expectations of your target market with the ultimate aim being to develop a more sustainable* product/brand.
2. Develop a pricing strategy to drive initial trial of the Foundry Chocolate’s block/bar
3. Develop a multichannel distribution network which is sustainable* and also addresses the growth of direct and online
4. Develop strategies that will increase your chosen target market’s interaction with the brand in order to create greater brand awareness and brand recognition for the Foundry brand and its sustainability* agenda/platform in the Australian

*at least two of the marketing mix strategies must contain specific UN sustainable development goals. You must justify why the specific SDGs were chosen.

The textbook (8^th edition) provides an overview of the role of a marketing plan and provides a sample (see appendix 2) case study. This is for insights only as this assessment task addresses specific Deakin graduate and unit learning outcomes and unit content.

Armstrong G, Denize S, Volkov M, Adam S, Kotler P, Ang S H, Love A, Doherty S and van Esch P (2021)

Principles of Marketing, 8th Edition, Pearson Australia, Melbourne, pp. 502‐511. Library e‐book: pp. 1409‐1437; Pearson E‐book: pp. 503‐511.

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The focus of the marketing plan MUST be on the Foundry’s award‐winning chocolate blocks/bars (individual or gift pack).

Assignment 2 Specifics – Marketing Mix Plan

Word Limit: Up to 1500 words (penalties apply if you exceed the word limit) Weighting: 40%

Within the Faculty of Business and Law Student Toolkit there is a comprehensive overview of Sustainable Development Goals:

Homepage ‐ Faculty of Business and Law ‐ Student Toolkits (deakin.edu.au)

If you complete the SDG quiz you will receive the Deakin SDG Awareness certificate which you can add to your skill portfolio.

Using the template provided, prepare a report for the management board of Foundry Chocolates. In your report, include the sections below. Note the word count included in the brackets are a suggestion only.

Definitions and direct quotations are not required in assignment 2. Images and relevant tables and graphs are mandatory throughout the discussion.

Background (Assignment 1) Summary (not included in word count)

In the boxes provided in the assignment 2 template, summarise (key points only) your target market/consumer profile, differentiation strategy(s) and positioning statement developed in Assessment 1. If you do not include this information in the boxes, as required, the content will form part of your assessment word count. You are able to change the target market, differentiation strategy(s) and positioning statement based on the Assignment 1 feedback.

5.  Marketing Mix Strategies

Guidelines for developing marketing mix strategies:

• state the strategy and provide supporting evidence (justification) for its choice using e.g., primary research (based on a survey to be completed by students of MMK101); and secondary research including industry reports, statistics, and relevant marketing theories and concepts;
• clearly state how the strategy(s) will be implemented;
• recommend suitable marketing metrics that will measure the effectiveness of your marketing strategies for each of the 4Ps (product, price, placement and promotion); and
• at least two of the marketing mix strategies must contain a UN sustainable development goal. You must justify why the specific SDGs were chosen.

Ensure you meet the marketing plan objectives outlined on page 4.

• Product Strategy (10 marks, approximately 225 words)

Using the chosen product from Foundry Chocolate’s product range (as identified in assignment 1) develop a product strategy that meets the needs and expectations of your proposed target market and aligns with your differentiation strategy (developed in assignment 1). You must provide supporting evidence throughout the discussion and ensure your strategy(s) result in a more sustainable product/brand.

• Pricing Strategy (10 marks, approximately 200 words)

Recommend a pricing strategy that drives initial trial of the Foundry Chocolate’s block/bar. You must provide justification for your choice of pricing strategy.

• Distribution and Logistics (placement) Strategy (15 marks, approximately 225 words)

Recommend a multi‐channel distribution and logistics strategy that aligns with your target market’s need(s) and reflects sustainability and growth of direct and online marketing. You must provide a diagram to reflect the multi‐channel distribution network you have developed. Note. do not copy and paste the textbook diagram.

• Integrated Marketing Communications (IMC) Strategy (25 marks, 550 words)

Recommend at least three (3) promotion tools from the marketing communication mix that aligns with your target market’s media habits and meets the company’s objectives of creating brand awareness, promoting brand engagement/interaction and advocating sustainability.

• Marketing Metrics (10 marks, approximately 100 words)

Recommend marketing metric(s) (marketing analytics) that measures the effectiveness of all your marketing mix strategies.

6. Conclusion and Implications (10 marks, approximately 200 words)

Summarise the key findings from both assignment 1 and 2. What is your recommendation to Foundry Chocolates ‐ Should they enter the Australian market? Why?

** 10 marks (2 x 5 marks) are awarded for the integration of the UN sustainable development goal strategy with justification**

Standard of communication in plan (10 marks ‐ 2 marks for presentation and language; and 8 marks for research and supporting evidence from secondary data sources (4 marks) and primary research findings (4 marks).

• Business report format using concise, clear and professional business language
• Appropriate use of digital resources – skills that you will have developed from completion of the compulsory Essential Digital Literacy task and during the studying of MMK101
• Use of credible and relevant secondary sources (e.g., journal articles, industry reports)
• Inclusion of primary research findings
• You must justify your choice of strategies using primary research findings and secondary sources g., books, magazines, journal articles, webpages etc. Websites allowing individual contributions should not be used e.g., Wikipedia, marketing.com
• Images and relevant tables and graphs are mandatory throughout the
• All sources/references taken from a secondary source should be acknowledged using the APA7 style of referencing https://www.deakin.edu.au/ data/assets/pdf_file/0009/2236752/Deakin‐ guide‐to‐APA7.pdf

Important Information – Essential Reading

1. Assignment template: Please follow the word template for assignment 2 which is provided for you on Cloud Deakin in the assessment tile or content page. The template structure provides you with experience in presenting professional business reports.
2. Report presentation: With regard to the text used in your assignment, please use a standard font (such as Times New Roman or Arial Narrow), at 12‐point, with 1.5 minimum spacing between lines, to enhance the legibility for All images and tables should be included in the body of the report.
3. Word documents only: The assignment must be in a Microsoft Word Document for marking purposes. PDFs will not be accepted. Microsoft Word is available to students free of charge; please see: http://software.deakin.edu.au/
4. Word Count Penalty and an overview of aspects not included in the word count: The following penalties apply to assignment in excess of the 1500‐word limit:

• If your report exceeds the word limit by 10% or less, 5% of the available marks will be
• If your report exceeds the word limit by 11‐20%, 10% of the available marks will be
• If your report exceeds the word limit by 21‐30%, 15% of the available marks will be deducted,
• This process will continue for each additional 10% that the word count is
• Work that is submitted more than five days after the due date will not be marked. You will receive 0% for the task.
• The Unit Chair may refuse to accept a late submission where it is unreasonable or impracticable to assess the task after the due

N.B. For this business report in MMK101, the following are not included in your word count:

• Title page
• Executive summary (NB. Not required in this report)
• Table of contents
• Figures, tables (including the segmentation able), charts (and related captions) unless used as part of the discussion
• Reference list

·         All in‐text citations and headings are included in the word count.

1. Extension Requests and Late submission penalty

• Students can apply for an extension request due to extenuating circumstances using the extension tool in Cloud Deakin. Please ensure you provide evidence supporting your extenuating

1. Electronic submission only: All assignments must be submitted electronically via Cloud Deakin. Make sure that you check the assignment document is the correct version before submission. The assignment uploaded to your dropbox folder is the one that will be graded. You can submit as many times as you like until the due date. The latest submission will be the version marked. Please use the following file name format for the assignment:
2. Post submission e‐mail confirmation: When you submit your assignment, you will receive an email to your Deakin email address confirming that your assignment has been submitted. If you do not receive an e‐ mail confirmation, this suggests the assignment has been submitted incorrectly or you have not pushed the submit button. You should check that you can see your assignment in the Submissions view of the Assignment dropbox folder after upload, and check for, and keep, the email receipt for the
3. Turnitin software and Turnitin Student Tool: Written assignments can be assessed for similarity issues with the references you have used prior to submission using the check your work Turnitin link. Turnitin checks that you have not unwittingly used the work of others’ (i.e., academic and trade authors, etc.) without due recognition. There are penalties for plagiarism at this university that are described in the following Student Rights and Responsibilities This link also provides more information about academic misconduct, special consideration, extensions, and assessment feedback. To check your draft prior to submission for similarity, please go to the Unit’s Cloud Deakin site under the student help widget:
4. Backup‐copy: You must keep a backup copy of every assignment you submit, until the marked assignment has been returned to you. In the unlikely event that one of your assignments is misplaced, you will need to submit your backup copy. Any work you submit may be checked by electronic or other means for the purposes of detecting collusion and/or

When writing your assignment please ensure you keep a back‐up copy of your assignment external to your computer/laptop to avoid inability to submit your assignment due to technical issues.

1. Resubmission of past assessment: Work or parts of work that you have submitted in the past for any assessment task, irrespective of the unit, cannot be re‐submitted for assessment in this unit, MMK101 Marketing Fundamentals without permission from the Unit
2. Building evidence of your experiences, skills and knowledge (Portfolio) ‐ Building a portfolio that evidences your skills, knowledge and experience will provide you with a valuable tool to help you prepare for interviews and to showcase to potential employers. There are a number of tools that you can use to build a portfolio. You are provided with cloud space through OneDrive, or through the Portfolio tool in the Cloud Unit Site, but you can use any storage repository system that you like. Remember that a Portfolio is YOUR tool. You should be able to store your assessment work, reflections, achievements and artefacts in YOUR Portfolio. Once you have completed this assessment piece, add it to your personal Portfolio to use and showcase your learning later, when applying for jobs, or further studies. Curate your work by adding meaningful tags to your artefacts.