MKT10007 Fundamentals of Marketing

MKT10007 Fundamentals of Marketing

Instructions/Descriptions

[Order Now]

MKT10007 Fundamentals of Marketing

MKT10007 Fundamentals of Marketing

Assignment 1: “What is Marketing?”

Task Description + Template + Rubric.

Word limit: 800 (+/- 10% = between 720 and 880 words. Words above 1,000 will not be marked. (Cover Sheet, tables, diagrams and pictures are not included in the word count.)

Assessment overview

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

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. Not applicable to this Assignment.
4. Work effectively as an individual or a team member to communicate effectively whether orally or in writing.

In this Assignment you will write about how brands used elements of “the marketing mix” – the 4 P’s (product, place, price, promotion) to influence your purchase decision for a product. Assignment 1 is an introduction to marketing. In Assignment 4, your final assignment, you will demonstrate that over the semester you have developed a sophisticated understanding of marketing. The table below summarises key points for Assignment 1. Note that later Assignments will have different requirements (for example; the need to cite references).

Assessment details

• Identify a product, that you have recently purchased, which cost $20 or less.
• The item you buy must be a physical product (a “good”) and not a service.
• The individual item you buy is termed an SKU = Stock Keeping Unit = the individual item for made available for you to purchase.
• Choose a pre-packaged item from the supermarket or pharmacy. Do not choose a fast food or similar item (because it includes service elements that are outside the scope of this assignment). So, NOT McDonald’s, NOT Boost juice or other fast foods. NOT ALDI or House Brands.
• Use the Template provided on the following pages to write about your product purchase. Save the Template in Word format on your computer. Then retain the Headings and sib-headings, type your answers under the questions & instructions. Then delete the questions & instructions. Then clean-up your document. This method ensures that you cover all the required points for the Assignment.
• Use the example provided (Assignment 1 Sample) to help you understand what is required in this Assignment. Complete all sections of the template.
• Submitting your Assignment; Please follow the Instructions on Blackboard.

Template

• Introduction to the Report; (50 words)
• State the purpose of the report; to explain, based on my purchase experience, how effectively the marketing managers used elements of “the Marketing Mix” – the 4 P’s to influence my purchase decision.
• Clarify key terms; Marketing Mix (4Ps), Category & Sub-Categories, Brand Positioning.
• State the scope (the subject and the extent) of the report; my purchase of (SKU) on (Date) at (Place of Purchase).
• The Body of the Report (which consists of points 1 to 3 below).

1. The product category (50 words) Write a paragraph or two, which answers the questions below: –

• First, clearly state what product (a physical product (a “good”) not a service) you have chosen.
• Secondly, identify the product category. The product category is “a grouping of products, often at retail level, which may be substitutes for each other or in some way supplement each other.” (Kotler et al 2013 pg. 687) For example; Beverages.
• Identify some sub-categories within the category. For example, Beverages may have sub-categories including soft-drinks, bottled water, juices.

2. The 4Ps

Provide information about the Marketing Mix 4P’s for the product you purchased by answering the following questions.

2.1 Product (125 words) Write a paragraph or two that answers the questions below:-

• Describe the appearance of the product,
• Explain why you buy this product.
• Describe how you would use this product.
• Describe how it is packaged.
• Describe how the packaging influenced your purchase decision.

2.2 Place (125 words) Write a paragraph or two that answer the questions below: –

• Describe how widely available the product is. Would you say it is easy to find?
• Describe the place (the shop or website) where you bought the product. If in a shop, what kind (pharmacy, supermarket etc.)? If online, what type of website (supermarket or other multi-brand site, or a one-brand site)?
• Describe the product display. Where was the SKU located within the Category display – eye level on the left? In an aisle-end display? Near the cash register?
• Describe whether or how you think the product display influenced your purchase decision.

2.3 Price (125 words) Write a paragraph or two regarding the price for this product.

• Describe the price of the product. Note; Pricing data from retail outlets; always state the name and location of the store, and the date when you collect the information.
• Compare the price of this product with competitor products. Note; when comparing prices, make sure that the prices are presented for the same package size, or in standard units (e.g. cents per milliliter) or as an Index where your brand equals 100.
• Describe how you think the price influenced your purchase decision.

2.4 Promotion (125 words) Write a paragraph or two regarding the promotion for this product.

• Describe any discounts on the price, or special offers.
• Do you recall having seen this product advertised? If so, where? (TV, radio, magazines, Internet etc.)
• Describe how you think the promotional price, the product display, and/or the advertising influenced your purchase decision.

3. Brand (125 words) Write a paragraph or two which answers the questions below.

(a) What kind of people do you think this brand would appeal to? How did the 4Ps tell you this?

For example, Arnott’s Teddy Bear biscuits; the brand is likely to appeal to parents with young children. Firstly, the brand must appeal to children, as the users/end-consumers. We can deduce this from the packaging, which is clearly designed to appeal to young children. Refer to the picture below: –

http://www.sanza.co.uk/pics/arnotts_teddy_bear_chocolate.jpg , accessed 21/12/15

However, young children would not be the buyers, instead their parents would be the buyers on their behalf. Further inspection of the 4Ps shows that they are designed to appeal to the parents in their role as buyers because the Price is inexpensive, the Product is simple and reasonably healthy (as far as treats go anyway) for young children, the Place is supermarkets and convenience stores (where the parents would shop for groceries) and the Promotion is through the packaging, POS and children’s media.

(b) If this brand were a person, what sort of person do you think it would it be? Justify your answer by analyzing the 4Ps – why do you think this?

ONLY HUMANS >>>>>>>>>Here you need to consider the 4Ps and the packaging and imagine the brand as a person*. For example, if Arnott’s Teddy Bear biscuits were a person the brand could be a kindly, caring parent, grandparent, aunt or uncle perhaps.

(“Brand as a person” for adults requires that the brand be a human. However, it can be that in the imagination of a child the brand could be a non-human character such as a friendly Teddy Bear who the children would like to play with, or a kindly, caring Grandma Bear perhaps. From the marketer’s point-of-view, it is quite acceptable to have children see the brand as a non-human “person”.)

Note also that from the marketing managers’ point-of-view this brand must have a brand personality to whom the parents would entrust their children. (Looking at this another way; would you leave your children alone with Jack Daniels (Jack Daniels as a person, not the whiskey!)? Probably not, but with Grandma Bear? Probably yes.) For further inspiration see here >>> “if Google were a guy” https://www.youtube.com/watch?v=YuOBzWF0Aws .

*Do NOT describe the people you think would be likely to buy the product, those people are the target consumers – you discussed this in part 3a) above.

(c) What do you think is this brand’s Positioning? (“Positioning; Arranging for a product to occupy a clear, distinctive and desirable place relative to competing products in the minds of target consumers” (Kotler et.al. (2013) pg. 686).

For example; for Arnott’s Teddy Bear biscuits; the Positioning could be “an ideal treat biscuit (= what is the product) which young children love (= for whom/” target consumers”) because of the taste and the friendly teddy bear character (= why/”clear, distinctive and desirable”), and which parents like to buy (= for whom/”target consumers”) because it is reasonably healthy, inexpensive and convenient (=why/”clear, distinctive and desirable”) to buy as part of their regular shopping.”

* Bold italics are added here to emphasise key points. Do not use Bold in this way in your Report.

(d) Do you think that every “P” of the Marketing Mix for this product is consistent (a) with the other “Ps” for this brand? and (b) with the brand’s Positioning.

For example; for Arnott’s Teddy Bear biscuits;

(a) “I conclude that the Marketing Mix is internally consistent, because it is comprised of a good value price of $2:50 per packet (= price) for an ideal treat biscuit (= product) , available in all supermarkets, which makes it convenient for parents to buy as part of their regular shopping (= Place). Promotion is primarily by visual communication on the packet using the picture of friendly teddy bear character and the trusted Arnott’s brand.

(b) For these reasons I conclude that this Marketing Mix is consistent with the Brand Positioning which is that of a reasonably healthy, inexpensive, convenient, friendly and trusted product which children love and parents trust.”

However, if the Marketing Mix had been different for Arnott’s Teddy Bear biscuits you might answer this way;

(a) “I conclude that the Marketing Mix is not internally consistent, because the price of $10 per packet is excessively high for an ideal (but simple) treat biscuit (= product) , available in all supermarkets**, which makes it convenient for parents to buy as part of their regular shopping (= Place). Promotion is also inconsistent; Promotion is primarily by visual communication on the packet using the picture of Jack Daniels, who is a hard-partying, alcohol-drinking man. Jack Daniels’s image is not consistent with a desirable brand personality such as a friendly character who children love, and to whom parents would entrust their children.

(b) For these reasons I conclude that this Marketing Mix is not consistent with the Brand Positioning which is that of a reasonably healthy, inexpensive, convenient, friendly and trusted product which children love and parents trust.”

**You could also note that locating a $10 packet of biscuits in the general biscuit section of the supermarket is also inconsistent, because high-priced biscuits would logically be located in the gourmet section of the supermarket. But then, parents shopping for biscuits for their children would not be shopping in the gourmet section … in other words, once one “P” becomes inconsistent it is likely to cause other inconsistencies.

Conclusion to the Report (50 words)

• Summary of the main findings of the report
• The conclusion should clearly relate to the purpose of the report – see Introduction regarding the purpose.
• No new information here

NO References required for this Assignment. (Referencing will be essential for ALL other Assignments though.)

(These 4 Ps Question prompts adapted from Mind Tools, 2015, The Marketing Mix and the 4Ps of Marketing, viewed 1 May 2015, R_94.htm.>.

Submission details

Please submit your assignment through Turnitin. Detailed information is available under the Assignment 1 tab in Canvas.

Assessment criteria

We will assess your work using the following Rubric: For definitions of terms please see last pages.

Page 9 of 12

Assignment 1 Task Description Template and Rubric S1, 19 FINAL.docx

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.

insightful (adjective) “Having or showing an accurate and deep understanding; perceptive: “ thank you for all the insightful comments ” and “ I don’t have anything insightful to say about that.””. <http://www.oxforddictionaries.com/definition/english/insightful> viewed 8/8/15

rationale (noun) “A set of reasons or a logical basis for a course of action or belief: “he explained the rationale behind the change.” < http://www.oxforddictionaries.com/definition/english/rationale> 8/8/15.

DEFINITIONS

“Complex structures” refers to sentences using elements such as subordinate clauses e.g. ………., which……. Or ………, that…….. and conditionals such as if…….., then…… structures. Use of passive voice also demonstrates complexity.

cohesion (noun) “The action or fact of forming a united whole: “the work at present lacks cohesion.”” http://www.oxforddictionaries.com/definition/english/cohesion> viewed 8/8/15

cohesive (adjective) “Characterized by or causing cohesion: “each parish was formerly a cohesive unit” and “family life

can be a cohesive force in society”.”.< http://www.oxforddictionaries.com/definition/english/cohesive> viewed 8/8/15

cohesive devices refers to a range of language elements that structure the flow of ideas in a written text such as:

• Discourse markers e.g. Firstly, secondly, however, in contrast, for example, furthermore, etc.
• Substitution e.g. pronoun reference such as he, she, it.
• Use of synonyms.
  

  MKT10007 Fundamentals of Marketing

PLACE THE ORDER WITH US TODAY AND GET A PERFECT SCORE!!!