Principles and Practice of Marketing
TITLE: Principles and Practice of Marketing MODULE CODE: MG1062_____
Individual Coursework Assignment and Assessment Criteria
(30% of module marks)
Aim
• The main aim of this assignment is to develop your understanding of key concepts in marketing theory and practice.
• Another aim is to give you an opportunity to familiarise yourself with academic literature and writing and familiarise yourself with research methodologies and how marketers conduct their research through gathering and analysing a business case.
Learning outcomes assessed
• Understanding of key marketing concepts.
• Understanding of marketing in international contexts.
• Analytical skills with regards to key issues in marketing and consumer dynamics in given market contexts.
• Identification of marketing information needs in order to be able to plan, manage and develop marketing strategy.
• Appreciation of the interdisciplinary nature of marketing theory.
• Use of research skills and techniques to identify relevant marketing literature and materials and conduct a business case.
• Engagement with different marketing theories and practices.
• Written and analytical skills which are clear and relevant to the practice of marketing.
Theme: Marketing Plan Project
You are required to select and create a fictional product or service that you would like to bring to the market in one of the two industries (IT Industry or Retailing Industry). You will become then the class expert on this product or service, the company, and the industry in which it operates. Prepare a Marketing Plan for the new product/service, which begins to entre its introduction stage. You need to plan the marketing Mix strategies and action plan throughout the product life cycle stages.
Then you will need to submit this Marketing Plan to the top management, where the Marketing Plan will be graded based on the following criteria:
– Use of analytical marketing concepts to analyse the company and its products
– Degree to which information was sought and attained
– Quality of critique of company’s marketing programme
– Quality of suggestions for future marketing
– Quality of writing
Instructions:
Prepare a report of your Marketing Plan for the chosen product/service at the maximum of 1500 words. To write the report you need to conduct your own research. Your sources of information are from secondary research only(e.g. annual report, advertisements, news release, articles, market research reports, web sites, etc.). You are encourage to look up articles about the industry in Business Week, Forbes, Fortune, the Wall Street Journal, Marketing Communications, Media-Scope, Advertising Age, etc. Visit the web site of the related firms, and study the marketing mix of similar product/service category. Your report should include a list of references used, whether from print materials or through the Internet.
Tasks
• Prepare an individually report of 1500 words. This report includes the following:
o An Executive Summary
o Introduction
o Marketing Plan based on secondary research, in which you may consider:
1. Analysis of the market – “Where are you now?”
a) Description of the firm – current position in marketplace
b) Your product’s/firm’s strengths and weaknesses
c) Competition’s strengths and weaknesses
d) Sales trends and forecasts
2. Business proposition – “Where are you going?”
a) Measurable and attainable objectives – long/short term goals
b) Target market – Identify your customers
c) Strategy statement – What are you proposing?
d) Key planning assumptions (cite sources of information)
3. Action plan – “How and when do you get there?”
a- Product Proposition – product/service description, value added features, etc.
b- Price – pricing strategy, incentives (sales, discounts), etc.
c- Place – sales area, distribution, etc.
d- Promotion – advertising methods, public relation etc.
If Service then you need to elaborate on these too:
e- Physical evidence (Atmospheric aspects, etc.)
f- People (Customer services, service level etc.)
g- Process (Standardization of service, Quality of service, etc.)
4. Evaluation – “Did you do it?”
a) Achievements – evaluate relative to long/short term goals
b) Recommendation for future action
c) Contingency plan – what do we do if our project is not successful?
o Conclusion and reflection
o References
o Appendices (if any)
Please note: your critical analysis should be based on the key marketing theories and concepts you have learned throughout the module. You should not base your critical analysis on your personal views and opinions.
Formatting Guidelines
• The first page of your assignment should be the e-coversheet available on Blackboard Learn
• Font type: Times New Roman
• Font size: 12
• Line spacing: 1.5
• Page numbering: bottom right
• Please save your file as a Microsoft Word document. If you use a format which is not supported by the university we will not be able to open your file and your assignment will not be marked.
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