Fundamentals of Marketing

This assignment will help you to achieve these Unit Learning Outcomes (ULOs);

  1. Demonstrate a broad understanding of the major conceptual and theoretical principles upon which the practice of marketing is based.
  2. Demonstrate a general understanding of marketing management tasks and of how marketing fits into the organisational environment and interacts with diverse environments.
  3. Identify and evaluate secondary research from a variety of sources. As a reflective and critical thinker, use this research information to apply marketing concepts and principles to propose ethical, creative solutions to a range of marketing related problems that arise in business contexts. 
  4. Work effectively as an individual or a team member to communicate effectively whether orally or in writing.

Assessment overview

Write your report as the same group of independent consultants who worked on Assignment 2. Here, in Assignment 3 you are presenting an Environment Analysis, Consumer Segmentation and Marketing Research recommendations to your clients; the Marketing Managers of your Brand + Sub-Brand.

Assignment 3
This is a hypothetical situation.  You do not need to buy your product. 
You will use marketing theories and concepts appropriately.
You will find sources of information to justify the points you make.
Therefore, you will cite your References* and include a List of References as the last pages of your report. * in-text referencing

Overview of Structure

  1. Executive Summary (approx. 200 words) NOT INCLUDED IN WORD COUNT
  1. the report’s major purpose,
    1. the analytical processes used,
    1. the findings, and
    1. Your recommendations.
  2. Table of Contents
  • Introduction (approx. 150 words) Three parts are required here: –
  1. The authorization and purpose of the report tells the reader who it was who commissioned the work and why it is being produced.
    1. Limitations you encountered in relation to data collection, availability or access to information and information that might be confidential in nature.
    1. The scope of the report summarizes what the report covers, how information will be presented, where the information comes from and how it was gathered.

Section 1: The marketplace and influencing factors (approx. 1,000 words)

In this section you will be considering the marketing environment in which the company operates, and you will analyse the factors which might influence the Brand + Sub-Brand.

The Micro-environment; (SIP-CCC; these players are often called “stakeholders”.)

  • What industry are we in? (approx. 400 words) (Refer to Tutorials 4 & 7 (finding data) and Lecture 3.)

At the beginning of any business report, state the scope of the report, before presenting the analysis. 

  • Identify the industry within which the company and the Brand + Sub-Brand compete.
  • Include an illustration of how the company and Brand + Sub-Brand fits within the industry; for example, include a tree diagram.
  • Competitors Analysis (“C” for Competitors in SIP-CCC) (approx. 200 words) (Refer to Lecture 3.)

Identify at least two key competitors from the Strategic Group and include a Product Comparison Table of the type shown below:-

        #
P Our Brand + Sub-Brand Strategic Group Competitor 1 Strategic Group Competitor 2
Brand + Sub-Brand      
Brand Positioning      
Product Specifications      
Place      
Price      
Promotion      
Advantages & Disadv c/w our Brand and Sub-Brand      
Other factors important to prospective buyers      
Data was current as of (insert date/s). Sources; (insert sources).

(Hint; you should expect to see that the Marketing Mix 4Ps for the competitors are very similar to those for your Brand + Sub-Brand. This will demonstrate that these competitors are indeed in your Strategic Group, because they will have the same or similar strategies to our Brand + Sub-Brand. Therefore, also try to identify those things that differentiate the competitors.)

  • Analysis of other Micro-Environment players (approx. 150 words) (Refer to Lecture 3 slides.) (“S, I, P and C for Company” in SIP-CCC).

Identify one key player of importance to your product. This will be from amongst Suppliers, Intermediaries, the Publics or internal Company factors. You will;

  • Describe them and outline the role they play in relation to your company/ Brand + Sub-brand.
  • Describe how they work with your company/ Brand + Sub-brand.
  • Identify the key risks if the relationship between your company/ Brand + Sub-brand and this player broke down.
  • Identify a way this player could be leveraged to provide your company/ Brand + Sub-brand with an additional opportunity.
  • The Macro-environment; Other environmental factors influencing the company (approx. 250 words*) (Refer to Lecture 3.)

DENT-PC; provide an analysis of the three* macro-environment factors which you consider to be the most important ones impacting upon your Brand + Sub-Brand. You need to cover the following:

  • Describe any recent trends in these three areas that might impact your company/Brand and Sub-Brand.
  • Identify risks and opportunities these trends present for your Brand + Sub-brand.
  • Recommend changes in strategy that counter the risks and take advantage of the opportunities presented by these trends.
  • Include a Table of the type presented in Lecture 3 slide 15.
  • *” three” means three out of D, E, N, T, P, and C. WITHIN each of these three you might mention several trends; for example, within “E” for Economic there might be several relevant factors; such as growing employment = more potential customers and rising discretionary income = ability to spend more on your product category and/or spend more on more expensive alternatives within your category

Section 2 Consumer segmentation (approx. 400 words)

Refer to Lecture 4 and Tutorials 4 and 7.

In this section, you will present your consumer segmentation analysis – how the consumers could be split into smaller segments for the purposes of marketing. This will NOT be what the company is doing now – it will be YOUR consumer segmentation analysis.

In your report, you will provide the following information:

  • You will select ONE-only segmentation base and at least three profile elements that you believe will be important things to know about the current and potential consumers in this product category.
ONE Table, ONE Segmentation base, At least THREE Segments and THREE Profiling elements

Explain why you have chosen these bases and profile elements. Why are they useful for this particular product category? Justify using the Criteria (Lecture 4                                                 slides.)

  • Include a Segmentation table containing at least three segments

and at least three profiling elements. For example, at least;

Segments Profiling element 1 Profiling element 2 Profiling element 3
Segment 1      
Segment 2      
Segment 3      

Section 3 Assess the attractiveness of each consumer segment (approx. 300 words)

You will assess the attractiveness of each consumer segment for your Brand + Sub-Brand.  “Attractiveness” refers to the likelihood that a consumer segment will provide profitable sales for your Brand + Sub-Brand. You will be measuring “How attractive is the segment as a market for the Brand-and-Sub-brand?” – This is where you apply the Three Criteria – see below and Lecture 4 slides.

  • NOT “How attractive (as a product to buy) is the Brand-and-Sub-brand from the point-of-view of the consumers in this segment?”  

Attractiveness is based upon the three factors;

  1. Size and growth – a large, fast-growing, low-margin segment might be a good match to a strong brand with abundant resources that can afford to target a low margin segment. On the other hand, a small brand with limited resources and the need to make profits in the short term would be better-matched with a smaller, high-margin segment.
  2. Structural attractiveness – Can we communicate with the consumers in this segment and deliver the product to them?  Does this segment already have strong, entrenched competitors?
  3. The degree to which the segment matches the Brand + Sub-Brand’s resources and objectives – Does the brand have substantial resources and very high sales and share objectives? If so then big, fast-growing segments would be a good match. Or is it vice-versa?

Section 4 Recommendations for additional research (approx. 500 words)

Refer to Lecture 5 and Tutorial 8.

After reviewing the information you collected in section 2, you will decide on what additional information you would like to know to fill gaps in your knowledge about consumers.

What key questions do want answered:

  • What information do you want to find out? What are the 3 – 4 key questions you most want to answer.
  • How would this information help you to make decisions regarding marketing strategy. Be specific in describing these decisions and explaining how this information would help with the decision-making.

How would go about gathering information for ONE of your key questions using marketing research techniques.

  • Propose one research methodology that you could use to gather this information. MUST be Primary Research (that is, research to gather new data to answer your question).
  • Explain why this research methodology will get you the information you need. You can choose any Primary research method you like but you must justify your choice with relevant references.
  • Explain the main advantages and disadvantages of your proposed methodology.
  • Research design; Describe research method specifics such as questionnaire design, focus group assemblage and conduct, sample size, sampling method and/or other specifics.

Conclusion (approx. 150 words)

Concisely summarize all four sections of the report. Then write a section which answers these questions: –

  1. What do the findings mean?
  2. Was the purpose of the report fulfilled?
  3. Have the specified sources of information been used?
  4. Have the areas stated been adequately tackled?

Recommendations (100 words) You will include here a brief summary of your recommended actions. In this Report your recommendations will be about your suggested strategies from your analysis of the Marketing Environment, Consumer Segment Attractiveness and Marketing Research.

Referencing – You will be penalized (marks reduced) if you do not provide references. You need to provide both citations (in-text references) and List of References.

For your Group as a whole, you should aim to reference a MINIMUM* of at least 2 Academic References and at least 15 Business References for Credit grade – see Rubric > more than 30 to get top marks for Referencing. References will be aboutyour industry, product category, your brand and sub brand and the competitors, the marketing environment and marketing research including recent trends and consumer behavior.

  • “Where to get information” – refer to Tutorials 4 and 7.
  • “How to reference” – refer to Tutorial 4.
Handy Hint worth 15 easy marks; arrange for one member of your Group to review the final draft of the Assignment against the Rubric and check off that all sections have been completed. In particular; Conclusion (5 marks) for including the four components. Likewise, Presentation, Format and Attention to detail (5 marks) and Referencing (5 marks) for extensive in-text citation plus List of References.

How to Demonstrate the Application of Theory – Refer to Tutorial 5.

D and HD assignments will also include substantial amounts of Data – How to present data. 

  • Charts and tables and other data visualisation methods make it much easier to effectively communicate numerical data.
  • Data is much more meaningful when a trend over an extended time period is presented. Preferably three or up to five years of data is preferred.
  • You need to include the source reference, and the terms and units and time period of the data. For example, terms could be 000’s or millions, units could be Australian dollars or square metres or tonnes, and time period could be a particular calendar-year or financial-year or some other time period.
  • Data needs to be consistently presented throughout your report. For example, if in one part of the report you state that ABC holds 6.5% market share then it is absolutely essential that anywhere else in the report where you mention ABC’s share you must use the same number; 6.5%.
  • Pricing data from retail outlets; Always state the name and location of the store, and the date of purchase or data collection.
  • Comparison data; If comparing prices, make sure that the prices are presented for the same package size, or in standard units (e.g. cents per millilitre), in the same terms (litres, tonnes etc.) or as an Index where your brand = 100.

How to get higher grades; See what you have to do better, and what extra things you have to do to get higher grades.        White-on-Blue = extra to get a Credit over a Pass, Grey BOLD = extra to get a D compared with a C,                                            Yellow BOLD Italic underlined = extra to get an HD compared with a D

  Criteria   Fail Pass 50-59% Credit 60-69% Distinction 70-79%   High Distinction 80-100%
Executive Summary (5%) Not all elements included. Passable summary of the report’s major purpose, the analytical processes, the findings and the recommendations. Adequate summary of the report’s major purpose, the analytical processes, the findings and the recommendations. Reasonably comprehensive and concise summary of the report’s major purpose, the analytical processes, the findings and the recommendations. Comprehensive and concise summary of the report’s major purpose, the analytical processes, the findings and the recommendations.
Introduction (5%) Purpose missing or unclear. Scope unclear or absent. Purpose stated but lacks clarity, Scope indicated; elements missing or lack clarity. Purpose clearly stated. Scope clearly stated.  Purpose and scope clearly stated with professional level of detail Authorization included. Purpose clearly stated. Scope clearly stated with specific detail appropriate to this report. Limitations included.


Environmental analysis (25%)
Did not provide description of most environ-mental aspects. Aspects missing or inaccurate/inadequate description Basic description of most environmental trends that impact the company (Must include all four areas; the industry, key competitors, other players in the marketplace and other factors that impact the company). Clear and relevant description of environmental trends that impact the company. (Must include all four areas; the industry, key competitors (at least two), trends in micro- and macro-environment that impact the company).   Clear and relevant description of macro-environmental trends that impact the company. Recommends strategy changes in response to trends. Predicts competitors’ future strategies, assessment of threat, recommends strategies in response.      Micro-environment player; key risks if relationship with player breaks down, identifies way this player could be leveraged Substantial amounts of Data – see pg. 6         Clear, relevant and insightful description of environmental trends. At least three competitors; Sophisticated analysis of predicted competitor strategies and threats, recommends strategies in response showing insightful understanding of marketing strategy, supported by data. Micro-environment player; key risks if relationship with player breaks down, identifies way this player could be leveraged Substantial amounts of Data, presented in correct form, demonstrates sophisticated insightful selection of, and analysis of the most important environmental trends. Strategic recommendations flow logically from the foregoing analysis; we judge them very likely to succeed.          
  Consumer segmentation (25%)   Did not meet criteria. Basic description of characteristics of consumer base, characteristics are useful for the product category and how the consumer base could be divided into segments. At least two segments listed. Profiles demonstrate attempt to define purchase behaviours and preferences of each segment. Some analysis of Segment Attractiveness. Demonstrates application of consumer segmentation theory to identify characteristics of consumer base, usefulness of characteristics to product category and how the consumer base could be divided into segments. At least three segments listed. At least three Profile elements demonstrate attempt to define purchase behaviours and preferences of each segment. Segment Attractiveness assessed according to the Three Segment Attractiveness Criteria. Demonstrates application of relevant consumer segmentation theory to identify characteristics of a consumer base, why the characteristics are useful for the selected product category and how the consumer base could be divided into segments. Justification of choice of segmentation base uses criteria.  Three to five segments listed. Three or four Profile elements show that the purchase behaviours and preferences of each segment are clearly defined. Segment Attractiveness assessed by rigourous application of the Three Segment Attractiveness Criteria, presenting the results of extensive secondary research in a Table. Demonstrates insightful application of relevant consumer segmentation theory to identify characteristics of a consumer base, why the characteristics are useful for the selected product category and how the consumer base could be divided into segments. Justification of choice of segmentation base uses the Criteria in a manner that shows a sophisticated understanding of segmentation supported by cited data. Four or five segments listed. Four or five Profile elements professionally define the purchase behaviours and preferences of each segment in a believable way making clear what strategies will be successful in appealing to each, supported by data. Segment Attractiveness assessed by rigorous application of the Three Segment Attractiveness Criteria, presenting the results of extensive secondary research in a Table. Additional attractiveness concerns are also discussed showing a sophisticated synthesis of factors leading to a comprehensive assessment of Attractiveness.
  Market research (25%)   Did not meet criteria.   Proposes additional research that could help inform marketing strategy.   Provides clear recommendations for additional research that could help inform marketing strategy. Recommendations broadly justified. Research methodology to gather information is recommended.   Provides clear and relevant recommendations for additional research. Makes clear how this information would help marketing managers make specifically-described decisions regarding marketing strategy. Recommendations are justified. Research methodology to gather information is recommended. Main advantages and disadvantages of the proposed methodology are explained. Research design; some description of research method specifics such as questionnaire design, focus group assemblage and conduct, sample size, sampling method and/or other specifics.   Clearly defined, relevant, professionally formulated recommendations for additional research. Makes clear how this information would help marketing managers to make specifically-described decisions regarding marketing strategy. Recommendations are justified, making a clear link between the research proposed and the decisions to be made. Research methodology to gather information is recommended. Analysis of possible advantages and disadvantages of proposed methodology explained. Justification for preferred option included. Research design; Integrated and comprehensive description of research method specifics such as questionnaire design, focus group assemblage and conduct, sample size, sampling method and/or other specifics.  
  Conclusion and Recommendations (5%)   Did not meet criterion.   Adequate summary of most aspects of all four sections of the report. Aspects of all four of the following questions are answered to some extent; What do the findings mean? Was the purpose of the report fulfilled? Were the specified sources of information used? Have the areas stated been adequately tackled? Recommendations included.      Effective summary of all four sections of the report. All four of the following questions are answered reasonably comprehensively; What do the findings mean? Was the purpose of the report fulfilled? Were the specified sources of information used? Have the areas stated been adequately tackled? Recommendations included are drawn from suggested strategies from analysis of the Marketing Environment and Marketing Research.   Comprehensive summary of all four sections of the report. All aspects of all four of the following questions are answered; What do the findings mean? Was the purpose of the report fulfilled? Were the specified sources of information used? Have the areas stated been adequately tackled? All Key recommendations are included. They are your suggested strategies from your analysis of the Marketing Environment and Marketing Research.   Concisely and comprehensively summarises all four sections of the report. The following questions are answered; What do the findings mean? Was the purpose of the report fulfilled? Were the specified sources of information used? Have the areas stated been adequately tackled? All Key recommendations are included. They are your suggested strategies from your analysis of the Marketing Environment, Consumer Segmentation and Marketing Research. The recommendations flow logically from the foregoing, are persuasively presented and are judged very likely to succeed.  
Presentation, format & attention to detail (5%) Did not meet criterion. Report is reasonably well organised. Acceptable standard of attention to detail (grammar, spelling, expression). Report is well organised and clearly communicates ideas. Good standard of attention to detail (grammar, spelling, expression). Organisation controls and enhances message.  Communicates ideas effectively. High standard of attention to detail (grammar, spelling, expression). Professional aesthetic and organization act to control and enhance the reader’s understanding of the content.  Communicates ideas effectively. Excellent attention to detail (grammar, spelling, expression).
Referencing (5%) Did not meet criterion. Harvard style referencing evident in the report, minor errors and inconsistencies evident. At least 10 References cited. Harvard style referencing applied consistently throughout the report, with minor slips evident. At least 2 Academic References and at least 15 Business References.   Correct referencing for Harvard style applied throughout the report. At least 2 Academic References and More than 20 Business References cited Perfect Harvard style applied throughout the whole report At least 3 Academic References and More than 30 Business References cited

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