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BHO1171 Macro Environmental Analysis of Marketing Plan of Dr Muscle Assessment 1 Answer

INTRODUCTION TO MARKETING

BHO1171

Assignment Brief: 

Assignment 1: Diagnostic Assignment

Marketing Plan Part 1: Environmental Analysis

TITLE
Diagnostic Assessment – Macro Environmental Analysis.
LEARNING OUTCOMES BEING ASSESSED
  1. Analyse how the key elements of the marketing mix contribute to an organisation's marketing strategy
  2. Formulate basic marketing strategies that can be implemented to address marketing problems
SUBMISSION INSTRUCTIONS:
You must electronically submit your paper into the Turnitin assignment submission box within the BHO1171 VU Collaborate shell. Submissions must be in MS Word format.
Please note that paper copies will not be accepted. In case of the Turnitin or VU Collaborate system being down, please email the assignment to your lecturer or local unit co-ordinator as a record of on time submission. Assignments will be marked using Grademark, within VU Collaborate. You will need to log into VU Collaborate to read feedback and obtain your mark once marking is complete.
In the eventuality that you fail this assessment you might be given the opportunity to re-submit. Resubmissions will only be considered if you have visited the Learning Hub for support on your resubmission.
Failure to meet assessment deadline(s)
Where special consideration is not applicable, a 10% (ten percentage point) deduction for each 24 hour period after the due date is to be deducted, unless agreed upon with the unit coordinator prior to the due date.

DETAILED DESCRIPTION OF ASSESSMENT

This assessment links directly with assessments 3A and 3B. Figure 13.1 from Sharp (2017) is presented below, which outlines the marketing planning process. Your task will be to complete:

  1. Step 1: The Market Environment (but not Organisation Situation Analysis) as Assessment 1
  2. Step 2: The Target Market Analysis and Market Segmentation as Assessment 3a
  3. Step 3: The Marketing Objectives and Strategy Formulation as Assessment 3b

Stages for successful marketing plan

In other words, you will be writing an overall marketing plan for a product or service, in stages that are interconnected. The product you will need to write a marketing plan for will be outlined in the VU Collaborate space. Generally the product will be a new product that is seeking funding through a crowdfunding website such as  www.indiegogo.com  .

Your task in this particular assessment is to write a simple macro environmental analysis as part of an overall marketing plan. It should be approximately 500 words in length around 2 A4 pages. You may use tables to present the different elements of a macro environmental analysis.

You may wish to refer to Chapter 13 of Sharp (2017) for more detailed information on marketing planning, in particular Table 13.1 suggests a structure for a marketing plan.

In addition, specifically relating to the Macro Environmental Analysis for this assessment, you may wish to refer to page 214 onwards of Sharp (2017).

The point of a diagnostic assessment is to give students an early assessment with feedback to identify students who are at risk of not achieving a pass in the unit. This assessment will allow your lecturer to work with you and provide early feedback that you can take on board for later assignments. If necessary you may be referred to the Learning Hub centre on your campus for further help.

While the assessment asks you for your opinion, your arguments need to be supported with reliable sources of information. It is expected that you will cite at least 4 references using the Harvard Referencing System (if you are not familiar with this system, simply put “Harvard Referencing System” into a search engine). Sources that can be used, for example, include the textbook and refereed journal articles. Please refrain from using internet sources like essay.com. marketing.com, seminar slides, dictionaries, about.com. In addition, at VU copying from a source without proper acknowledgement is severely penalised as leaving paragraphs and sentences without a citation.

As a key aim of this task is for lecturers to see the strengths and possible areas of improvement with your academic writing, you should strive to write in as clear a manner as possible, using well-constructed paragraphs, and avoiding bullet points, incomplete sentences, or overly formal or informal language.

Please see the assignment dropbox for the associated rubric for this assessment.

Answer

MACRO ENVIRONMENTAL ANALYSIS OF MARKETING PLAN OF Dr. MUSCLE

Macro Environmental analysis of Australia 

PESTLE

Political The constitutional effect can be seen in the political structure of this country (Newshub, 2017)
The world trade organization is situated in this county. 
This country is a Commonwealth member country


Economic The rate of GDP growth in Australia in 2017 is 2.4% (OECD, 2018)
This country a higher level of the business tax rate which is 27.5% (PWC, 2018)
This country has imported near about 3,10,73,49,00,000.00 dollars product from different countries of the world (OECD, 2018)
Social The population of this country is nominal which is 22.9 million (Workman, 2018)
Australia is a multiracial nation

Technological Australia is a technologically advanced nation 
Projection states that in 2019 this country will increase the rate of technologically purchase near about 4%.  (OECD, 2018)

Environmental Australia is a driest colonized country in the world
This country has an exclusive geographical nature
Legal The Australian government has enacted The Fair Work Act 2009 for increasing transparency of business (Newshub, 2017)
 The Commonwealth government also governs the authenticity of database maintenance with privacy legislation.  

Table 1: PESTLE analysis of Australia

(Source: Becherer and Helms, 2016) 

Effects of macro environmental factors on Dr. Muscle marketing plan

Dr. Muscle can be considered as an innovative marketing plan, which will provide its customers’ benefits related to physical workout by segregating the time schedule, and including a proper diet chart by considering the intervention of the AI (Artificial Intelligence) based virtual assistance. This virtual assistance will provide the customer's health benefits by analyzing the data related to the workout progress of users. 

Australia is a commonwealthcountry Australia is politically attached to other members of Commonwealth nations. This can help to promote this marketing plan associated with Dr. Muscle in other nations (Becherer and Helms, 2016). On the other hand, since the world trade organization is situated in Australia this will help to merchandise Dr. Muscle application throughout the world. 

Continuity in the GDP growth rate of Australia can be considered as beneficial for the marketing plan of Dr. Muscle since this will provide a financial advantage in the promotion of this mobile application and its payable services. High business tax rate of Australia will make a negative impact on promotional activities of payable features of Dr. Muscle. 

Australia is a multiracial country and due to this reason, people having different cultural background live in this nation, which can help to increase the effectiveness of market survey for determining the features of Dr. Muscle by which the customer satisfaction can be enhanced (Feimi et al. 2016). On the contrary, since the population of this country is limited this will make a negative impact on the market popularity of this product in Australia. 

Fast technological growth of Australia can help to increase the features in future in these software products, which in turn can help to elevate the level of marketing operation, associated with the Dr. Muscle (Dvorský et al. 2017). 

Geographical diversity of this country attracts many tourists in this nation, which can be used as the promotional advantage for merchandising Dr. Muscle in other countries. 

Data privacy regulation of Australian government and The Fair Work Act 2009 will help to elevate the transparency of this marketing plan associated with the promotion of Dr. Muscle in the market (Becherer and Helms, 2016). This, in turn, will increase the satisfaction level of customers.

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