Business and Marketing
Details of the Assessment:
(1) Group Coursework – Poster.
In order to complete this component of the Assessment Portfolio, students will form a group (min. 4 – max. 5 group members). All groups must be formed by week 3 (Term 2) in order to start working on the poster in advance which will give students better chances to successfully complete this assessment component. This assessment component requires students to demonstrate knowledge and understanding of the two main marketing concepts which are STP (Segmentation, Targeting and Positioning) and the marketing mix (4Ps).
Submission of this component takes place in two stages:
1) Week 10: Submission of the 2000-word written group coursework. Details are provided below.
2) Week 12: Poster presentation (15 mins. max). This poster must be based on the information provided in the students’ written report. During this exercise, students practice both creative skills and communication skills. Students must decide on the organisation structure of the poster. However, it must address the given task and relevant theoretical applications must be used.
The task for the poster/group coursework: Choose one of the following scenarios:
• Development and marketing of a new product where you have to assume that you own your own business or,
• Development and marketing of a new product for an existing organisation (e.g. a new product for Apple, Coca-Cola, Virgin Media, etc.)
Once, you as a group, have chosen one of these scenarios, you must include the following information in your group coursework:
Note: you have to complete this assessment component by using professional sources such as industry reports, books, journal articles and other reliable sources.
A. Background information (general information about the organisation, its mission, vision, values, main competitors and industry/market in which it operates). (approx.400 words)
B. Evaluation of the tactical decisions which need to be made across the marketing mix: (approx. 1200)
1. Product:
• Discuss proposition forms: key values, benefits and characteristics of the product. How can this new product be classified? What are the customer needs and wants which this product will satisfy?
• Apply STP. By using relevant theoretical concepts, explain how the market is divided and subdivided into different segments. Explain how to determine which of the segments will be targeted. Justify your choice and comment on the targeting approach. Clearly explain which consumer segment/s this product is targeting.
• Carefully consider branding decisions. Propose the brand name and key brand associations. Identify words which help you to define perceptions of the brand. Based on this information, draw a perceptual map for your brand and its main competitors. Evaluate core brand elements: promise, positioning and performance. How will this brand stand out from its competitors?
2. Price:
• Keeping in mind the concept of the product life-cycle, explain your pricing strategy. Use relevant theoretical concepts to justify your answer.
3. Promotion:
• Clarify all the marketing communications tools, media and messages that the company will use to communicate with its audience. Use relevant theoretical concepts to justify your answer.
4. Place:
• Discuss the most effective distribution channels for your product. Keep in mind that ‘the goal is to make sure products arrive in usable condition at designated place when needed’ (Lamb et al, 2015, p.27). Discuss relevant retailing strategies in order to justify your answer.
C. Summary (approx. 600)
• Explain briefly the main ideas around the new product. Comment on who the main customers of the product are. How is the proposed product/brand different from those of its competitors? What are the key communication and distribution channels?
Your report should have the following structure:
1) Front-page
2) Background information
3) Evaluation of Marketing Mix elements (including STP)
4) Summary
5) Reference list
6) Signed records of the group meetings and contributions (please use form in Appendix A)
Please use relevant subheading to guide the reader.
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