Theoretical Understanding And Practical Application Of Marketing
From discussions and material presented during lectures, write an essay to demonstrate your theoretical understanding and practical application of Marketing. Each student is to select one of the essay topics below and write an essay of 1500 words, to be submitted in Week 5. The essay must be referenced with relevant up-to-date sources.
Choose one of the topics below:
1. Discuss the concept of perceived value and its importance to consumer behaviour and marketing. Discuss the theory and then give practical examples of how customers perceive various brands and how this impacts on their behaviour.
2. To evaluate an organization’s Strategic Business Units (SBU), the Boston Consulting Group developed a portfolio performance framework.
3. Segmentation, targeting and positioning are interrelated activities which are important to achieving a successful Marketing Mix. Discuss these concepts in theory and give practical examples of how they can be applied to one industry of your choice. Examples of an industry you might choose: fashion for men, or personal care products (shampoo, shavers etc.), or pet products, or toys, or vehicles, or furniture, or fashion for women, or financial services, or beverages, or baby products, or snack foods or another industry.
4. Marketing decision makers in a firm must constantly monitor competitors’ activities – their products, prices, distribution, and promotional effort.
5. Good market research and environmental scanning forms the basis of success for other related marketing activities. Discuss the theory and then give practical examples of what types of market research and environmental scanning a company like Domino’s Pizza should do and explain why.
6. Why is it important to do market research and adjust the marketing mix when entering into a foreign market? Explain the theory and then give practical examples of how some companies have already adjusted their marketing mix in foreign markets. Also, explain what advice you would give the marketing team of “Vegemite” – if they wanted to launch this product in a foreign market such as South Africa (or a market of your choice), where people do not know the product/brand.
Marking Criteria for Individual Essay
|Discussion of relevant issues, theories and concepts for the chosen topic for essay||8|
|Demonstrated understanding, logic and reasoning evidenced in essay||6|
|Application of theories/concepts to industry/real products/services. And other relevant examples and ideas provided by the student to demonstrate an understanding of the theory||3|
|Style, structure, spelling, grammar, punctuation, referencing||3|
2. Assessment 2: Group Assignment
Weighting: Written Report 20% and Oral Presentation 10% = 30%
Length: 3000 words for Report. 10 minutes for Presentation.
Due Date: Week 9 &10
Note: Students are required to discuss the topic with their lecturer before they start the assignment.
This assignment must be done as part of group. Students are to form groups of 4 to 5 (may vary depending on class size) and will be allocated one organization from the following list:
Topic 1: Australian Dairy Farmers
Topic 2: Hybrid Car
Topic 3: Australian Wool Industry
Topic 4: Business Schools in Australia
Topic 5: HSBC
Topic 6: Bank of China
Topic 7: Any small to medium enterprise in Australia
Other organisations are possible to be negotiated with your lecture (at least 2 weeks prior to the due date)
Each group is to prepare a written report (in report format of approximately 3500 words) and an oral presentation (in PowerPoint format) of approximately 10 minutes duration, outlining the following:
1. Executive Summary with key findings and recommendations
2. Clear and concise description of the market in which the organization operates
3. Summary of the marketing environment (both micro and macro-environmental forces and trends)
4. Detailed description of how the market is (or may be) segmented and a statement of the segment(s) that the organization is targeting.
5. Brief discussion of the behaviour of customers in the segment(s) identified above
6. A description of the marketing mix being used by the organization to target these segments
7. A recommendation for improvements to the organization’s marketing effort.
Marking Criteria for Group Assignment
Students Please Note: Each group member must participate equally in the preparation, presentation, and group report writing and ensuing seminar discussion.
Marking Criteria for Group Assignment – Written Report