Annotated Exemplars - Business Studies Level 3 AS91382

Develop a marketing plan for a new or existing product (3.4)

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This annotated exemplar is intended for teacher use only. The student work shown does not always represent a complete sample of what is required. Selected extracts are used, focused on the grade boundaries, in order to assist assessors to make judgements at the national standard.

Low Excellence

Commentary
Student work extract

Student 1 (PDF, 566KB)

For Excellence, the student needs to develop a comprehensive marketing plan for a new or existing product.

This typically involves evaluating the market situation, creating a thorough marketing strategy and writing a thorough marketing plan through:

  • integrating business knowledge relevant to the marketing plan
  • integrating Māori business concepts where relevant to the marketing plan.

This student has developed a comprehensive marketing plan for Bottle Buddy. Market research has been conducted (1) to establish the target market (active, fit people) and to create a customer profile (2). Primary research was designed to reveal the ‘best fit’ marketing plan (3).

SMART marketing aims support the corporate objectives (4). The student has completed a marketing audit, evaluating the marketing activities of competitors’ products (5). The student has integrated business knowledge by considering the Ansoff matrix in developing a marketing strategy (6).

Two distribution strategies have been explained, along with a contingency strategy (7) and a sales forecast (8). The student has provided a marketing budget for each distribution option (9), and an action plan for the implementation and future monitoring of the marketing strategy (10).

The student has cited the sources of all information (not shown here).

For a more secure Excellence, the student could include more detail in their action and contingency plans to address threats that were identified in the marketing audit. For example, since active, fit people were identified as the target demographic, sports clubs could be approached as well as gyms.

As part of monitoring progress towards achieving the marketing aims, the student could specify adjustments that might be made to price should the sales targets not be met.

High Merit

Commentary
Student work extract

Student 2 (PDF, 672KB)

For Merit, the student needs to develop an in-depth marketing plan for a new or existing product.

This typically involves fully explaining the market situation, creating a sound marketing strategy and writing a sound marketing plan through:

  • including business knowledge relevant to the marketing plan
  • including Māori business concepts where relevant to the marketing plan.

This student has set marketing aims that support the corporate objectives of Sweet Treats (1). Market research was carried out to determine the target market and an appropriate price for the product (2). A marketing audit was completed to find existing competitors in the market and to determine the USP of Sweet Treats (3).

A detailed marketing strategy that is likely to achieve the marketing aims has been prepared (4). The student has evaluated their various selling activities in terms of projected sales (5) and has created a marketing budget (6). An in-depth action plan has been prepared (7).

The student has carefully considered possible contingencies for product, price and for each of their marketing strategies (8), and has therefore indicated how the overall strategy will be monitored.

The student has cited the sources of all information (not shown here).

To reach Excellence, the student could include additional business knowledge within the marketing audit and market analysis. For example, the student could prepare a SWOT analysis or analyse the marketing mix for Sweet Treats. Similarly, a matrix tool or PEST analysis could have been used to analyse the market situation.

Low Merit

Commentary
Student work extract

Student 3 (PDF, 780KB)

For Merit, the student needs to develop an in-depth marketing plan for a new or existing product.

This typically involves fully explaining the market situation, creating a sound marketing strategy and writing a sound marketing plan through:

  • including business knowledge relevant to the marketing plan
  • including Māori business concepts where relevant to the marketing plan.

This student has set marketing aims to support the corporate objectives of Sanitarium (1). A marketing audit which evaluates existing marketing against new marketing aims has been completed (2). Market research has been conducted in order to develop a marketing plan (3).

The student has used a SWOT analysis (4) and completed an in-depth marketing mix to develop a marketing strategy (5). Sales forecasts have been provided with figures that appear to be realistic (6). The student has stated a contingency plan should marketing aims not be achieved (7). An action plan has been provided (8), along with an explanation of how progress will be monitored (9).

The student has cited the sources of all information (not shown here).

For a more secure Merit, the student could include more marketing-related business knowledge. For example, they could use the Boston or Ansoff matrices as tools for evaluating So Good’s market situation.

High Achieved

Commentary
Student work extract

Student 4 (PDF, 686KB)

For Achieved, the student needs to develop a marketing plan for a new or existing product.

This typically involves setting marketing aims, explaining the market situation, creating a marketing strategy and writing a marketing plan through:

  • stating business knowledge relevant to the marketing plan
  • stating Māori business concepts where relevant to the marketing plan.

This student has developed a marketing plan for a new product, ring binders for left-handed people. Primary and secondary market research has been conducted to decide on the target market and an appropriate price (1). A PEST analysis has been used to explain the current market situation for the new product (2).

Ansoff and Boston matrices and Porter’s 5 Forces, (all evidence of business knowledge), have been used to conduct a market audit (3). The student has stated SMART marketing goal which reference the company goals (4). A sales forecast (5) and marketing budget (6) have been created. A limited contingency plan has been provided (7).

The student has cited the sources of all information (not shown here).

To reach Merit, the student could fully explain the marketing strategy that will be used to achieve the SMART goals for the ring binders. For example, what will be done to ensure the product is economically sustainable, as required for the MBIE award?

The student’s financial detail could be strengthened to indicate the viability of their niche product, matching competitors’ pricing. Their contingency plan could address pricing adjustments that could be made should sales targets not be reached.

Low Achieved

Commentary
Student work extract

Student 5 (PDF, 548KB)

For Achieved, the student needs to develop a marketing plan for a new or existing product.

This typically involves setting marketing aims, explaining the market situation, creating a marketing strategy and writing a marketing plan through:

  • stating business knowledge relevant to the marketing plan
  • stating Māori business concepts where relevant to the marketing plan.

This student has developed a marketing plan for a new product, Twist Easy, a two-in-one toothbrush. There is evidence of the student having undertaken secondary research (1). A marketing audit has been completed to determine the current competition (2), and the student has stated business knowledge by identifying Twist Easy’s position within the Ansoff Matrix (3).

A sales forecast (4) and action plan (5) have been created. The student has considered actions that could be taken should sales not reach target (6).

The student has cited the sources of all information (not shown here).

For a more secure Achieved, the student could have conducted primary research within their college to substantiate the viewpoint that teenagers need to improve their oral hygiene.

The cost and selling price of the product could be explained, and the marketing budget further developed so that it is linked to the sales forecasts and marketing strategies. A contingency plan would state what the business would do if sales forecasts do not meet the marketing objectives.

High Not Achieved

Commentary
Student work extract

Student 6 (PDF, 587KB)

For Achieved, the student needs to develop a marketing plan for a new or existing product.

This typically involves setting marketing aims, explaining the market situation, creating a marketing strategy and writing a marketing plan through:

  • stating business knowledge relevant to the marketing plan
  • stating Māori business concepts where relevant to the marketing plan.

This student has set marketing aims (1) and has completed an audit of the existing market for Sanitarium Cluster Crisps (2). Market research data has been analysed to develop a focus for the marketing strategy (3). A promotion/marketing plan has been attempted.

The student has cited the sources of all information (not shown here).

To reach Achieved, the student could use their marketing objectives and audit to devise an action plan that incorporates a marketing budget and contingency plan.

 
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