MKTG2008 Business Marketing Management

This assessment guide contains important information for the two major assessments. Please readthis document carefully. Please also watch the video on ilearn for more guidance on this assessment. This assessment is marked based on Five criteria:

In this section, you need to make sure you cover the answers to the following key questions:

1. What is the brand/business?
2. What is their marketing (product) offering?
3. Who is the customer (target market must be defined)?
4. What are customers’ wants?
5. How is the competition in the category?
6. What is the problem(s) at hand?
7. Critical Analysis (40%)

In this section, you need to discuss how the Business’ practices/Activities are in line with or contrary to marketing theories/concepts. To simply put: what it is (business practices) versus what it should be (marketing concepts/theories). In other words, through this critical analysis, you will discuss ALL the KEY business practices and why these business practices have led to positive (success) or negative (problems) results. When discussing the relevant reasons, you need to discuss whether these business practices are applied based on and/or consistent with any marketing concepts/theories or not. By conducting this critical analysis, you are actually explaining the problems/issues and success factors. In other words, you are also explaining why and how the problem (s) has occurred and why and how the firm has been successful.

In sum, the following must be discussed in this section:

• What are the business practices (including business model)?
• Why and how these business practices have led to these problem(s) or success? Are they or are they not based on any marketing concept/theory? Discuss.

Please refer to the following examples:

Example 1:

Company A has used a celebrity called ‘John Smith’ to promote and endorse its brand. This has led to increased brand awareness and sales for the firm. The marketing concept which is applied here is called “celebrity endorsement” which is one of additional promotional method of marketing mix.

According to this theory, there must be a consistency between the endorser’s image and personality and the brand image. This business practice was successful and benefited the company as this marketing concept was applied correctly as they have chosen the right celebrity to ensure consistency between the endorser’s image and personality and the brand image.

Example 2:

Company B has experienced decreased market share and sales due to some inappropriate business practices. This company used to target old-fashioned conservative customers who care about sales promotion and receiving low prices. As one the business practices, company B has changed its pricing strategy and eliminated the sales promotion. This has led to huge complaints from their customer and decreased their level of sales. The negative result has occurred since this company has not conducted any market research. Market research is a core marketing concept and strategies must be conducted after identifying and knowing customers and their features, wants, preference, values, etc.

Note 1: These examples are just provided to clarify the general approach. You would need to provide more elaboration on each key business practice

Note 2: As part of the business practices, you need to discuss the business model of the company as well. In most of the case studies, there is a discussion on the business model of the company (in most cases at an implicit level). If available and discussed, the business model should also be discussed. If the business model is missing and there is no clue about it in the case, then most of the focus must be on other business practices and their relevant issues/benefits. Also, if you should include the business model in your analysis, then be mindful of that in your proposed remedies.

Note 3: Marketing concepts/theories refer to ANY marketing concept including those we have learned in lecture/seminar. For example, segmentation approaches are considered as marketing theories/concepts. Please also note that ‘theory’ refers to ‘a supposition or a system of ideas intended to explain something’. So, ‘segmentation’ is counted as a theory although it does not have ‘theory’ in its name.

Solutions/Remedies (30%)

In this section, building on your prior critical analysis about the match and mismatch between marketing theories and a firm’s strategies/practices (i.e., the critical analysis), you should offer appropriate and specific solutions (called remedies in MKTG2008). These remedies must bemeaningful and not generic and broad. For example, if one says, “they have to improve their product, distribution and communication,” the grade would be a failure. Instead, one can, for instance, say “to reach segment A, they should … and to reach segment B they have to ….” You should use the remedies/solutions discussed in the uploaded videos on ilearn and add your unique remedies/solutions.

There is no limit for maximum number of remedies that should offered. However, if you intend to receive HD, you are expected to have multiple appropriate remedies (more than 2) and provide clear theoretical explanation/justification on each of them (please refer to the rubric on ilearn). Anything that is relevant and in line with the business model of the company and/or the problems at hand needs can be included.

Formatting and Expression (10%)

Structures information with a highly advanced degree of logic, precision, and clarity. Please use minimum 12-point font, 1.5 line-spaced, 2.54cm margin. Three main headings must be used (summary, analysis, remedies). Appropriate sub-headings can be used. Numbering of pages is essential.

The submission must demonstrate a reasonable level of originality. This would mean that you need to synthesise and summarise the required key point in your own words and use proper references and referencing style to prevent plagiarism. In case of high similarity index, submission may be referred to the School Discipline Committee for a decision.

The language and style must be accurate, appropriate, and vivid. Grammar, punctuation, and spelling must be noticed and correctly used. The choice of words and sentence structures should be used in a way to make the work readable and convincing.