Business Marketing Assignment
L E C T U R E – W E E K 1
P R E S E N T A T I O N I N T R O D U C T I O N
A T T E N D A N C E 1 0 0 % F A C E - T O - F A C E
S T R U C T U R E O F T H E C L A S S E S
E A C H C L A S S ( 2 . 5 H O U R S ) W E E K L Y ( L E C T U R E + S E M I N A R )
Learning objectives
What is marketing?
Understand the contribution marketing makes as a business function
Understanding assessment
The student role - your role as a student is to:
1) Attend! Past experience proves emphatically that students with a good lecture and seminar/tutorial attendance record achieve better grades – by far! We can only support you if you are here!
2) Participate – bring your experiences, views, ideas, aspirations and so on – and let them add value to what we are doing here
3) Finally: enjoy! I believe that if you attend and participate in the module, and take advantage of the module team support available, you will thoroughly enjoy Marketing Fundamentals – and this in turn plays a significant part in your success with this module.
Module Delivery Overview Week Lecture Topic Seminar Activities 1 (25th Jan)
The Fundamentals of Marketing Assignment Launch
Further discussion on assessment (Q/As) Activity (Infographics)
Assignment research activity 2 (1st Feb)
Analysis of the Marketing Environment
Assessment (Q/As) Activity – Greggs on a roll
3 (8th Feb)
Situational Analysis Internal
Assessment (Q/As) How to make your infographic
KFC situational analysis and SWOT 4 (15th Feb)
The Marketing Mix Product, Price and Place
Assignment support How to create a Infographic
5 (22nd Feb)
The Marketing Mix Marketing Communications and Service
Marketing (Lauterborn's 4Cs)
Assessment Q/A’s Activity – Mcdonalds Marketing Mix – 4 P’s
analysis
6 (1st March)
Consumer Behaviour Marketing trends and factors that affect
consumer purchase decision
Assessment Q/A’s Activity - Customer journey mapping
7 (8th March)
Market Segmentation Targeting and Positioning
Assessment Q/A’s Activity - Market segmentation profiles
8 (15th March)
Business to Business Marketing Assignment 2 Q/A’s Assessment 1 Submission
9 (22nd March)
Brand and brand strategy Assignment 2 support (Q/As) Case study activity (Social media -
(individual) 10 (12th April)
Role of Strategic Marketing (Ansoff Matrix/BCG)
Assignment 2 support (BCG / Ansoff) Assignment Q/A’s
11 (19th April)
Assignment 2 (1-2-1 support Assignment 2 (1-2-1 support)
12 (26th April)
Assignment 2 (1-2-1) Support
13 (3rd May)
Assignment 2 (1-2-1) Support and CW2 submission
Module introduction
What is marketing?
Analysis of the Marketing Environment Role of Situational Analysis in Marketing
The Marketing Mix Product, Price & Place
The Marketing Mix Marketing Communications & Service Marketing
(Lauterborn's 4Cs) Consumer Behaviour Market Segmentation
Targeting Customers and Positioning Products Role of Strategic Marketing
(Ansoff Matrix/BCG) Service Marketing/Social Marketing
Assessment
PART 1 – INDIVIDUAL PRESENTATION 40%
PART 2 – INDIVIDUAL REPORT 60%
Part 1 – Individual presentation (40%)
You can choose from one of the two options: the individual creation of a PowerPoint Presentation or an Infographic and examine the organisation's current competitive environment as well as the current marketing mix.
Minimum 5 ppt slides maximum 7
The submission deadline for Part 1 is Wednesday 17th March 2021 at 5 PM
Key contents of part 1
Based upon the organisation selected, the infographic/PowerPoint slides
will include:
• An introduction to the organisation – background history, markets etc.
• An analysis and audit of the organisation’s current market and
competitive environment – via key tools such as SWOT analysis, PEST
analysis and Porters Five Forces.
Key contents of part 1
Based upon the organisation selected, the infographic/PowerPoint slides
will include:
• An analysis of the organisation’s current Marketing Mix via the 4/7 Ps.
• It is suggested that a minimum of 5 PowerPoint slides , maximum 7 will
be needed to meet the requirements of part 1 of the assignment.
Alternatively the equivalent amount of content can be submitted as an
infographic.
Examples
Part 2 Individual report 60%
2000 words (+/- 10%)
You are required to write a marketing plan based on
assignment 1. The marketing plan should explore the future
marketing strategies.
Wed. 12th May. 2021, 5:00 PM
The submission deadline
Key content for part 2
• An overview on assessment of the current marketing environment based on part 1 • An analysis of the organisation’s positioning and targeting strategy
using perception maps, segmentation techniques and the principles of the 4Cs of effective positioning. • Based on above two points, you will be required to offer two
recommendations for the future marketing plan of your chosen organisation • Justification of one of the two recommendation reinforced by the
application of key strategic marketing models, i.e. the BCG Matrix and the Ansoff Matrix.
W H A T I S M A R K E T I N G ?
Theoretical definition of marketing
“Marketing is a mediated activity occurring within the economic sphere that employs strategies
intentionally rendered and goal- directed towards the exchange of
goods and services” (Kurzbard and Soldow, 2007, p.42)
Marketing is about identifying and meeting human and social needs (Kotler and Keller, 2016).
Practitioners’ definition of marketing
Marketing is an organisational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders (The American Marketing Association, 2004)
Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably (The Chartered Institute of Marketing, 2015)
CustomerSupplier
Something of value Products / Services
Something of value Money
Costumer Costs & Benefits Organisations
Consumer
Cash
“Happiness” Drinks
Patient
Insurance
Medical treatment
Student
Fees
Education University
The operational functions of marketing
Advertising P.R.
Selling
Financing
Buying
Forecasting
Pricing
PublicityMerchandisingMarket ResearchTransporting
Risk Taking
Servicing
Stockholding
Display
CRM Sales Promotion
THINK OF MARKETING AS A HUGE UMBRELLA COVERING ALL THIS
• The role of marketing in any company is to make sure
that the operational activities of the organisation (not just
marketing) are clearly directed towards the principal
objective of meeting the needs of the customers effectively.
INTERNAL MARKETING
It involves analysing customers and anticipating their
needs, planning, resource allocations, control and investment in terms of money.
EXTERNAL MARKETING
Orientation Focus USA era W. Europe era
E. Europe era
Production Manufacture To 1940s To 1950s Late 1980s
Product Goods To 1940s To 1960s Largely omitted
Sales Seller needs 1940s- 1950s
1950s- 1960s
Early 1990s
Marketing Buyer needs 1960s+ 1970s+ Mid-1990s+
Ethics/ sustainable marketing
Buyer needs for society and environment
Mid- 1990s+
Mid-1990s+ Late-1990s+
The Evolution of the Business Orientation of Marketing:
The Development of Marketing in Business
(adapted Brassington and Pettitt 2006 p14)
NEEDS WANTS
AND DEMANDS
NEEDS: • The most basic concept underlying marketing is that of human
needs. • Human needs are states of felt deprivation* • Human have many complex needs:
• Physical needs for food, clothing, warmth, and safety • Social needs or belonging and affection • Individual needs for knowledge and self – expression
Awareness that you’re truly lacking something and the pain that comes with that awareness.
MARKETING FUNDAMENTALS
Maslow believed that people have an inborn desire to be self-actualized, that is, to be all they can be. In order to achieve these ultimate goals, however, a number of more basic needs must be met such as the need for food, safety, love, and self-esteem
WANTS: • Want are the form taken by human needs as they
are shaped by culture and individual personality. • People have almost unlimited wants but limited
resources. • They want to choose products that provide the
most value and satisfaction for their money.
MARKETING FUNDAMENTALS
DEMANDS: • When backed by buying power, wants become demands* • Consumers view products as bundles of benefits and choose
products that give them the best bundle for their money.
*To understand the difference between Wants and Demands just think of Amazon’s Wishlist. The list is for the things you Want that you just can’t buy yet (because you lack the money to do so).
MARKETING FUNDAMENTALS
MARKETING FUNDAMENTALS
Sellers’ markets
Buyers’ markets
70’s 00’s 20’s
MARKETING FUNDAMENTALS
OLD view of marketing:
Making a sale – Expand over competitors
NEW view of marketing:
Satisfying customer needs
and demands
D I S C U S S I O N W H A T I S T H E M A I N P U R P O S E O F T H E A D ?
H O W I S I T A M A R K E T I N G A C T I O N ?
W H A T I S T H E M A I N M A R K E T I N G O R I E N T A T I O N ? W H A T I S T H E M A I N A P P R O A C H T O W A R D S D E V E L O P I N G C O N T E N T ? ( R A T I O N A L , E M O T I O N A L , I N F O R M A T I V E )
W H A T B E N E F I T D O E S I T H A V E F O R T H E C O M P A N Y ?
A N Y O T H E R O B S E R V A T I O N S O R C O M M E N T S A R E W E L C O M E !
Landscape of marketing
Marketing orientation video BrewDog BrewDog is a multinational brewery and pub chain based in Ellon, Scotland.
Company’s co-founders James Watt and Martin Dickie reveal their revolutionary carbon negative and sustainability plans for BrewDog Tomorrow.
https://www.brewdog.com/tomorrow Tomorrow starts today
D I S C U S S I O N “ D R I N K P U N K ” , “ T O M O R R O W S T A R T S T O D A Y ” ; W H A T D O T H E S E M E S S A G E S I M P L Y ? W H A T D O T H E Y W A N T T O C O M M U N I C A T E ?
W H A T I S , I N Y O U R O P I N I O N , T H E M A I N O B J E C T I V E O F T H I S C A M P A I G N ?
W H Y I S I T I M P O R T A N T F O R T H E C O M P A N Y ?
W H Y I S I T I M P O R T A N T F O R T H E C U S T O M E R ?
A N Y O T H E R O B S E R V A T I O N S O R C O M M E N T S A R E W E L C O M E !
Role of marketing in other business functions
Some more resources WEBSITES - http://marketingprofs.com/ - https://contentmarketinginstitute.com/ - https://mashable.com/category/marketing/ - http://marketingeye.com.au
VIDEOS
References
• AMA (2004). ‘Marketing’? Commentary on the American Marketing Association’s New Definition of Marketing,” in Does Marketing Need Reform? Fresh Perspectives on the Future. • CIM (2015). A brief summary of marketing and how it works. [Online]
Available at: https://www.cim.co.uk/media/4772/7ps.pdf, Accessed on 21 September 2020. • Kotler, P., Keller, K. L. (2016). Marketing management: Global
edition. 15th Edition, NJ: Pearson (Intl). • Kurzbard, G., Soldow, G. (2007). Towards a Parametric Definition of
Marketing. European Journal of Marketing, 21(1).
C O U R S E W O R K 1 R E V I E W
Part 1 – Individual presentation (40%)
You can choose from one of the two options: the individual creation of a PowerPoint Presentation or an Infographic and examine the organisation's current competitive environment as well as the current marketing mix.
Minimum 5 ppt slides maximum 7
The submission deadline for Part 1 is Wednesday 17th March 2021 at 5 PM
Key contents of part 1
Based upon the organisation selected, the infographic/PowerPoint slides
will include:
• An introduction to the organisation – background history, markets etc.
• An analysis and audit of the organisation’s current market and
competitive environment – via key tools such as SWOT analysis, PEST
analysis and Porters Five Forces.
Key contents of part 1
Based upon the organisation selected, the infographic/PowerPoint slides
will include:
• An analysis of the organisation’s current Marketing Mix via the 4/7 Ps.
• It is suggested that a minimum of 5 PowerPoint slides , maximum 7 will
be needed to meet the requirements of part 1 of the assignment.
Alternatively the equivalent amount of content can be submitted as an
infographic.
Examples
S E M I N A R – W E E K 1
THE NEW MARKET REALITIES
• Technology • Globalization • Social responsibility
MARKETING FUNDAMENTALS
New consumer capabilities
– Can use the internet as a powerful information and purchasing aid
– Can search, communicate, and purchase on the move
– Can tap into social media to share opinions and express loyalty
MARKETING FUNDAMENTALS
New consumer capabilities
– Can actively interact with companies
– Can reject marketing they find inappropriate
MARKETING FUNDAMENTALS
New companies capabilities
– Can use the internet as a powerful information and sales channel, including for individually differentiated goods
– Can collect fuller and richer information about markets, customers, prospects, and competitors
MARKETING FUNDAMENTALS
New companies capabilities
– Can reach customers quickly and efficiently via social media and mobile marketing, sending targeted ads, coupons, and information
– Can improve purchasing, recruiting, training, and internal and external communications
– Can improve cost efficiency
MARKETING FUNDAMENTALS
HOLISTIC MARKETING
What is it?
Holistic marketing is a marketing strategy that is developed by thinking about the business as a whole, its place in the broader economy and society, and in the lives of its customers. It attempts to develop and maintain multiple perspectives on the company’s commercial activities
HOLISTIC MARKETING
What is it?
The Holistic Marketing main approach to Marketing is that all aspects of the business should work together as an interconnected entity with a common goal. With the holistic approach, marketing is a shared activity that involves everyone related to the business.
HOLISTIC MARKETING
HOLISTIC MARKETING
Internal Marketing
Most companies put a lot of resources on external marketing, but only few of them place any focus on internal marketing. External marketing is the standard form of marketing that is geared towards customers.
Internal marketing, on the other hand, is geared towards the company’s employees. The internal marketing approach requires that the organization’s employees be treated as internal customers who need to be convinced of the organization’s vision and mission.
HOLISTIC MARKETING
Internal Marketing
Internal marketing also involves ensuring that the internal employees are aware of the role they play in the marketing process, even if they are not in the marketing department. Internal marketing also requires the organization to ensure the satisfaction of its employees, since employee satisfaction has a very major influence on customer satisfaction.
Under the internal marketing approach, the organization should hire the right employees, train and motivate them, and inculcate business values in them so that they can provide the highest quality of service.
HOLISTIC MARKETING
HOLISTIC MARKETING
Integrated Marketing
Integrated marketing is about creating a unified and seamless customer experience across all the touch points where the customer interacts with the brand and ensuring that all marketing communication – sales promotions, advertisements, digital marketing, print advertising, direct marketing, public relations, etc. – deliver the same message.
HOLISTIC MARKETING
Integrated Marketing
Ensuring that all the marketing communication is in sync helps deliver an efficient and effective message to potential customers and projects a strong and focused brand image.
HOLISTIC MARKETING
HOLISTIC MARKETING
Relationship Marketing
This component of holistic marketing is focused on building strong and long lasting relationships with all stakeholders who can directly or indirectly influence the success of the business. These include the customers, employees, shareholders, suppliers, channel partners, regulatory bodies, and financial institutions.
HOLISTIC MARKETING
Relationship Marketing
The aim of relationship marketing is to focus on marketing activities that create a strong, emotional bond between the business and these stakeholders and cultivate loyalty from them, rather than simply interacting with them only during transactions.
To do this, the business needs to start by understanding and then meeting the needs, desires and goals of these stakeholders. The result of effective relationship marketing is a strong marketing network.
HOLISTIC MARKETING
HOLISTIC MARKETING
Performance Marketing
This is an often forgotten component of holistic marketing which is focused on the returns of marketing activities to the business. Marketers should be able to show a return on investment on any resources spent on marketing and to show the effect of these marketing activities on the business: sales revenue but also the social revenue: the marketing activities need to be adopt responsible behavior towards the society.
HOLISTIC MARKETING
D I S C U S S I O N W H A T I S T H E M A I N P U R P O S E O F T H E A D ?
H O W I S I T A M A R K E T I N G A C T I O N ?
W H A T I S T H E M A I N M A R K E T I N G O R I E N T A T I O N ? W H A T I S T H E M A I N A P P R O A C H T O W A R D S D E V E L O P I N G C O N T E N T ? ( R A T I O N A L , E M O T I O N A L , I N F O R M A T I V E )
W H A T B E N E F I T D O E S I T H A V E F O R T H E C O M P A N Y ?
A N Y O T H E R O B S E R V A T I O N S O R C O M M E N T S A R E W E L C O M E !
C O U R S E W O R K 1 E X A M P L E S
Assessment (Q/As) • Part 1 (40%) Individual Presentation • You can choose from one of the two options: the individual
creation of a PowerPoint Presentation or an Infographic and examine the organisation's current competitive environment as well as the current marketing mix.
• The submission deadline for Part 1 is Wednesday 2020 at 5 PM • Part 2 (60%) Individual report • You are required to write a 2000-word (+/- 10%) marketing plan
based on assignment 1. The marketing plan should explore the future marketing strategies.
• The submission deadline for Part 2 is Wednesday 2021 at 5 PM
C O U R S E W O R K 1 A C T I V I T Y F O R N E X T W E E K
Research Activity • Research and choose one organisation that you think you will choose to base
your assignment on.
• Make sure it is a SMEs (possibly one you are familiar with)
• Avoid choosing big brands or large corporations
• Create ONE (only) PowerPoint slide and prepare the following for presentation back to the class:
• Which organisation have you chosen and why?
• Who are your organisation’s customers?
• Who are their competitors?
• What problems do you think they have in the market?
• What do you think they do well?
• What do you think they could do better?