Business project
JasonB
BP_lect13.ppt
Faculty of Business
Marketing Discipline Group
24790 Business Project:
Marketing (Capstone)
Course Notes
Spring 2019
INTRODUCTION
David Waller
Lynne Freeman
Today’s Workshop
- Course Overview
- Class Mingling
- Discuss Project Ideas in Group
- Objective: Familiarise yourself with the course and project requirements!
“a capstone is a crown, a shining and fully functional architectural feature that encloses and, for all time, seals into place the culmination of knowledge and experience.”
Capstone:
Subject description
- This subject is a simulated business consultancy project that allows students to investigate a specific business activity related to marketing, using a company of the student's choice.
- It covers many aspects of marketing, marketing strategy and specialist marketing subjects.
- Students are required to apply a range of marketing and non-marketing theories already covered in their degree.
24790 Business Project: Marketing (Capstone)
Requisites:
- 48 Credit Points in Master of Marketing Program
- Completion of 24734 Marketing Management
- Completion of 24710 Buyer Behaviour
Staff
- David Waller
- Lynne Freeman
- email is the preferred method of communication. If making an appointment at least 48hours notice please
- Use your UTS email address; state your subject/tutorial number
Subject learning objectives (SLOs)
Upon successful completion of this subject students should be able to:
1. apply a broad range of marketing tools, frameworks and decision-making to real world issues and contexts.
2. access and critically analyse relevant information for comprehensive marketing solutions.
3. integrate multifunctional perspectives and frameworks to deliver comprehensive business solutions and progress
organisational initiatives
4. apply innovative problem solving and develop self-directed project planning and solution processes
5. present effectively in an informal and formal manner the project plans and findings.
Course intended learning outcomes (CILOs)
- Research and critically analyse complex information and concepts for business decisions and apply them in the broader environmental context (1.1)
- Apply innovative problem-solving processes to address business issues and integrate the solutions in decision making (2.1)
- Use oral communication appropriately in a professional context to convey information clearly and fluently (3.2)
- Evidence understanding of ethical and social responsibility in professional practice and accountability for related personal outputs (4.1)
- Critically evaluate and apply sustainability principles to decisions in business contexts (4.2)
- Demonstrate knowledge of diverse cultural and Indigenous perspectives and their implications for professional business practice (4.3)
- Apply high-level technical skills within specialised marketing management, marketing research and strategic marketing practice (5.1)
- Execute a substantial research-based or professionally focused marketing management, marketing research or strategic marketing project (5.2)
Assurance of Learning
- Use high-quality written and oral communication skills to interact effectively with others in order to work towards a common outcome (3.1)
- Interact effectively with others in order to work towards a common outcome (3.3)
Main Objective:
- Investigate…
- a marketing-related…..
- business problem and……
- suggest a robust solution!
- Simulated consultancy project
- Investigate an organisation/issue of your choice
- Apply the range of marketing and non marketing theories that you have covered in your degree to date
How to Achieve the Objective:
Project Outline (10%)
Length: Two pages long plus a schedule and references
Due: 12.00am 14 August 2019 – week 4
Project Report (70%)
Length: 20-30 pages, plus 3-minute summary video
Due: 12.00am 9 October 2019 – week 11
Project Reflection (20%)
Length: 4-5 pages
Due: 12.00am 16 October 2019 – week 12
Ungraded but required: assessments during class
SEE UTS Online for rubrics and additional information
Assessments
Choose an issue/problem that interests you
Choose from the firm you are currently working for, your family or friend’s firm, or a firm you want to create (must get permission from instructor)
Remember, project problem is solved based on your own recommendations!
Selecting a Business Problem
Subject Format
Six Workshops:
Week 1: Introduction & Overview
Week 2: Advice on Choosing a Project
Week 3: Proposal Development and Project Planning
Week 8: Analysing Data
Week 9: Preparing Recommendations
Week 11: Recap and Discussion about the Project
Within Workshop Sessions:
Q&A sessions
Frameworks
Proposal development
Sampling
Qualitative analysis
Reflective journals
Feedback
Mentoring work (important)
Self Directed Learning : (You)
Course Outline and Assessment Guidelines are available on UTS Online
- This project constitutes a major research and exploration effort
- The subject is 12 weeks in duration and you will need to dedicate approximately 10 hours per week to the project
- Approximately 20 days full time effort
Work Load and Expectations
- Research is the key to informed decision-making related to problem solving
- It can be instrumental in gathering data related to
understanding problems
finding solutions
implementing change
evaluating success
The Potential of Research
- To research real-world problems requires:
an ability to think strategically
setting realistic and appropriate objectives
clear and well-informed planning
understanding the context or environment
defining what the actual business problem is….
The Research Process
Identifying Research Problems
- Identifying problems suitable for research involves looking for problems that can be addressed through the research process
- Insights can come from
- your own knowledge and experience
- the exploration of broader issues
- learning to identify the needs of others
- Well-designed, planned, implemented and analysed research must be performed
- Must include both primary and/or secondary research activity
- Must use qualitative or quantitative research.
- All questionnaires (quantitative) must be cleared by the instructor before being distributed. Anybody failing to do this will be penalised.
Expectations of Research
Product Examples
Listerine 120 years old
1990’s Pfizer Consumer Healthcare realised that the brand was dying
Irrelevant to consumers, movement away from mouthwash.
Listerine
*
- Found that consumers were
- Concerned about bad breath
- Using products to MASK the problem e.g. mints, gum, lollies
- People searching for a portable product
- Liked the clean fresh feeling of just having brushed teeth
- R&D over 5 year period with aim to reverse declining sales and extend into other product categories
Market research…..
*
Portable
Help kills the germs that cause bad breath
Clean feeling
Handy pocket pack
*
- ACNelisen – oral care is one of fastest growing grocery category surging 29.7% in value
- Used pocketpacks turned back to mouthwash too
- Competitor copy products in 3 months
Carry on effects…..
*
Business Problem
Research Question
What’s the difference??
Despite great products, people and prices,
sales were down in a key market segment
Business Problem:
Declining sales in a specific market sector
Research Question:
To measure the relative service performance of Company A in Market Segment B
Research Question:
To measure the relative service performance of Company A in Market Segment B
Research Objectives:
To describe customer-supplier interaction
To identify key customer service attributes
To measure Company A’s performance in these
To compare Company A performance vs. others
- Developing a well-articulated research question is an important part of the process because:
it defines the investigation
sets boundaries
provides direction
acts as a frame of reference for assessing your work
…you need a:
Clear Research Question
- Important to have a specific research question, not too broad and not too narrow
- Important to have access to the information that you will need to complete your report
Company information
Environment, market, competitors info
Theory and Frameworks
The Importance of a Clear Research Question
- Redefining your question is a normal part of the research process
- Forming the right ‘questions’ should be seen as an iterative process that is informed by reading and doing at all stages
The Importance of a Clear Research Question (and Re-Defining this)
Assessing your Question
- In order to assess your question you will need to explore whether your question:
- is right for you
- will be of broad significance
- can lead to tangible situation improvement
- is well articulated
- is researchable
- will have support
- What can we do to increase company X revenue?
- What is an appropriate marketing strategy to increase market share of brand X?
- What decision-making process is being used by consumers in choices about our brand?
- What will be the effect of changing our marketing communication from option A to option B?
- What is the impact of service quality on the satisfaction of our customers?
- Will increasing service quality improve our bottom line?
Some examples of research questions
How
can we
launch our
fast food outlets
in Saudi Arabia?
Can we
use western advertisements
when launching
fast food outlets
in Saudi Arabia?
How
can we
launch our
fast food outlets
in Saudi Arabia?
- You are the consultant conducting this marketing research report!
- Thus, SPECIFY exactly what firm should do if you were the manager.
- Get advice and initial insights from your research, but the PROJECT IS ALL ABOUT YOU!
Specifics Matter!
Planning your Project
Can be a project of your own interest
Eg setting up an eco-tourism mountain bike resort
Can be about your own company
Eg Telstra BigPond’s Customer Support Services
Can be about an external company you have access to
Eg Glebe restaurant with a declining revenue
Can be about an aspect of an external company you have no access to, but is very much in the public domain
Eg Marketing Toyota Prius to inner city dwellers
Selecting a Business Problem
Weeks 1 - 3
You must:
Work out what you want to do, i.e. the business problem
Specify a suitable research question for this problem
Outline specific objectives of your research
Prepare and submit your ‘Project Proposal’ for approval,
Fine-tune with feedback
You must:
Plan your research!
Start research activity
Build your data and background information
Draft your ‘Final Project Report’
Weeks 4-7
Week 8-10
You must:
Prepare and submit your ‘Final Project Report’
Week 11
You must:
Prepare and submit the ‘Project Review Report’
Scheduling Your Project
- Plagiarism is the practice of appropriating someone else's ideas or work and presenting them as your own without acknowledgment. Plagiarism is literary or intellectual theft and includes:
- copying the work of another student, whether that student is in the same class, from an earlier year of the same course, or from another tertiary institution altogether
- copying any section, no matter how brief, from a book, journal, article or other written source, without duly acknowledging it as a quotation
- copying any map, diagram or table of figures without duly acknowledging the source
- paraphrasing or otherwise using the ideas of another author without duly acknowledging the source.
- By plagiarising you are both stealing the work of another person and cheating by representing it as your own.
Ethical Behaviour & Plagiarism
Key Findings from Last Semester’s Projects
- Student’s were too ambitious. Be realistic
- Insufficient theoretical underpinnings
- Theories were not integrated into the report, nor did they guide the research
- Insufficient academic depth
- To little secondary research
- Little or no synthesis of secondary sources
- Too many poor surveys when other methods would have been more appropriate. You may not do a survey without clearance for the questionnaire
- Remember it goes beyond MR into recommendations for marketing action and implementation
- Lack of specific recommendations!
HELPS programs and services for all UTS students including:
- Assignment writing assistance
- Drop-in advice and Individual consultations
- Daily workshops on writing, presentation and study skills
- WriteNow! Writing Support Sessions
- Conversations@UTS and HELPSMates buddy program that provide opportunities to practise English speaking skills.
- HELPS volunteer program
- Online self-help resources on essential academic skills
- For detailed information on HELPS programs, go to www.helps.uts.edu.au
Remember HELPS
Check the BP
subject documents
and UTS Online
Email your Mentors
The question is about BP
(e.g., my project, general
administration)
The question is about me
(i.e. it is private/personal or
otherwise confidential)
Send an email to David
YES!
NO
Got your answer?
Email is our primary form of communication with you.
Then email David or Lynne
Ask during a lecture or workshops: others
will benefit
Workshops:
Email & ask to discuss – but please come prepared!
Consultations:
Book 15 min appointments
with 48 hrs notice
Come prepared!
Please don’t wait until the end of a lecture or workshop
Project extensions
Are not given
Use your UTS email only, not Gmail, etc.
Subject Outline
And
Assessment Guidelines
Peer mentoring
- In this subject you are expected to develop your skills as a peer mentor/advisor. To be both a skilled mentor and mentee are valued in the current business environment.
- During workshops you will be expected to work with at least one other student in a mutually constructive way to provide support, encouragement, feedback and advice as to the progress of their project.
- You too will receive input from them.
- You should trust you mentor/mentee and feel comfortable with them
- You should have the same goal re grade
- “Peer mentorship should have a foundation of trust, respect and similar objectives” Sarah Callaghan Marketing Insights
- You should be able to ask for advice and equally be open and receptive to giving it.
- Bearing in mind that another perspective than your own can be invaluable in giving fresh insight to an issue.
Class Speed Mingling
- Speed-Mingling:
- Mission is to meet class mates
- Find mentors and form a group of 2 or 3
- Talk to someone you don’t know
- Discuss potential capstone project
Reasons for Research
- Define your objectives
- Understand your customers
- Understand your competition
- Test your products/campaigns
- Optimise your strategy
- Keep pace with the industry
- Solve problems and make decisions
- Identify and plan for business growth
NEXT WEEK (i.e., Week 2)
- Lecture Topic – Advice on Choosing a Project
- Objective: Decide on the project
- MUST DO:
Come to class with an idea for your project.
