MG412 Principles of Marketing
This assignment assesses your secondary research skills and your ability to follow the rules of academic writing. The topic is the 4Ps (product, price, place and promotion), which is also called the “marketing mix”. You need to compare and contrast how effective the application of the 4Ps is for one pair of brands (NOT ALL OF THEM) from the list below.
Analyse the effectiveness of the marketing mix for any given company or brand.
Demonstrate knowledge of STP marketing planning process.
You need to carry out in-depth research into the brand’s target market (who they are, their likes/dislikes, their levels of personal disposable income etc.) using market research databases – e.g. Mintel reports, WARC and TGI. You then need to look at the brands themselves, their brand values and competitive positioning in the market before going on to discuss their application of the 4Ps – product, price, place and promotion. The key to getting a good mark on this is to prepare a comparative analysis. Do not describe the brands in isolation – always look at the two together and explain why they do things differently.
This assignment should be based on secondary and observational research only. You are not required to carry out any form of primary research. You need to research the following:
1. Target Market
You need to develop a detailed target market profile for each brand using data sources such as Mintel, the companies’ own websites and other secondary sources. You need to think about age, gender, personal disposable income, social class, level of education, family life cycle, lifestyles, other brands they like, TV programmes they watch, hobbies etc.
2. Product /Brand
Using Levitt’s model of a brand, try to analyse your two selected brands (their shape, packaging, colour scheme etc.). How different are they at the functional and emotional level? What are the brand values that the companies are trying to portray? In addition, have a look at Aaker’s brand personality framework to see which personality type(s) each brand follows.
You need to carry out some on-line and in-store research to establish a market price for each of the brands and any competing products. Display all this competitive pricing research in a table and draw conclusions about which pricing strategy they are adopting.
4. Place (Distribution)
You need to look at channel management. Which stores stock this product? Is it a mass market product where the company has maximised distribution outlets, or is it a luxury brand where distribution is deliberately limited? Explain your answer. If possible, take photos of the product instore/on-line. What does this tell you about brand values?
You need to research their past methods of communication (e.g. cinema, TV, outdoor, print, social media, mobile, own website etc.). Which communication methods do they use to build their respective brands? – and how do they do this? How are they positioning themselves in the minds of target audiences? (E.g. affordable, luxury, healthy, socially conscious etc.) You only have 1500 words for your report so you need to decide what goes in the appendices. It is suggested that you follow this structure for your work.
THIS IS WRITTEN LAST (because it is a summary of your research) BUT IT APPEARS FIRST (before the contents page), in order to catch the attention of the reader and encourage them to read further. It should cover in one page or less:
· The aim of the report,
· The methods of research,
· The results (top-line summary only)
This should be quite brief – it’s NOT a detailed coverage of a 100 years of corporate history. It should include the aim of the report and some background information on each of the chosen brands – I.E a brief description of the brands with useful data such as market share, market size and trends in sales, which you can find from the most recent Mintel reports as well as in the trade press.
Use sub-headings to make your report easier to follow. We suggest you adopt the following headings:
1. Comparison of Target Markets
2. Product - Evaluation of the Products and their Brand Values
3. Price - Evaluation of the Pricing Strategies Used
4. Place - Distribution of the Brands
5. Promotion – Communication of the Brands
Have you read and understood the assessment criteria?
Have you met the learning outcomes? You will lose marks and your work may evenbe failed if you have not.
Have you demonstrated you can think and write critically in the completed work?This means you have supported your arguments/explanations appropriately e.g. using relevant academic sources and you have offered discussion points which extends your own or others’ viewpoints to make reasoned conclusions/judgements.
Have you maintained an academic tone throughout your work? Is your work formal, focused, developed and clear?
Have you checked that the referencing in your assignment is in line with your programme requirements?
Have you proof-read your work and used spellcheck software to check your spelling and grammar?
Have you checked the presentation of your work is as specified by your tutor, for example, are font size, colour,style, line spacing and margins as the tutor specified?
Have you kept to the word count (or equivalent)? If you are not sure, check with your tutor. Can you confirm that the work submitted is your own and not plagiarised?