Marketing assignment - Marketing Essay Example
Task 1 - Marketing assignment introduction.br /> Describe the constraints and the limitations under which marketers operate making use of examples to explain your points.
a) Describe how marketing techniques such as:-
2. Relationship Marketing
3. Growth Strategies – Ansoff matrix
Are used to market products in two organisations. You need to choose one product or service from each organisation to undertake this task.
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In the report compare the differences and similarities between the marketing techniques used by both products/product ranges. Use the following headings to help you complete this task •Growth Strategies (Ansoff Matrix)
The task is to be presented as a written report for your manager.
Task 4 addresses D1
Present as a detailed table for your manager
Evaluate the effectiveness of the use of techniques in marketing products or services in one of your selected organisations. You need to judge the effectiveness by weighing up the advantages and disadvantages of the techniques used.
Coursework Internal Verifier
Setting the Scene : Scenario (If appropriate)
You have just been recruited as a junior journalist by the magazine Marketing Week. The magazine is planning to run a series of articles looking at the marketing activities of a number of a well-known business and a local business. As part of the project, you have been asked to carry out research and produce a written report that compares and evaluates the marketing activities. The report must also contain details about the limitations and constraints affecting the marketing activities of each organisation. You may use the products of organisations that operate within either the private, public or voluntary sectors. In selecting your two organisations consider whether you are covering business-to-business (B2B) marketing or business-to-consumer (B2C) marketing.
Coursework Task 1- 3
Assessment and Grading Opportunities
Guidance to help You complete Coursework Tasks
Task 1- Introduction
In your report explain how legislation, voluntary constraints and pressure groups impact upon how your two brands are marketed. It is important that you only include relevant legislation and use hypothetical examples to illustrate your understanding of the points that you have made.
i. Introduction – identify the two organisations and the product or product range within each that you intend to base your assignment on. Identify their main corporate objectives and explain how these influence the marketing objectives set by the respective organisations ii. In the Findings section of your report explain how both organisations Use the Ansoff Matrix to plan their growth strategies. Your answer should include a brief definition of what is meant by the Ansoff Matrix and a diagram (hint use Google Images), next identify which growth strategies your respective organisations have used for the products/product ranges that you have selected. Remember it is most unlikely that the organisations will have used all these growth strategies. Explain how the two products/product ranges use branding. You may like to consider what type of branding they use (corporate, family or individual branding). Finally, identify if they have used brand extension strategies (i.e. used the brand name of a successful product to launch a new product line). Discuss how the two brands use relationship or transactional marketing to build long term relationships with their customers and consumers.
Task 3- Conclusion
In the Conclusions Section of your report compare the differences and similarities between the marketing techniques used by both products/product ranges. Use the following headings to help you complete this task Growth Strategies (Ansoff Matrix)
Assessment and Grading Criteria
Student Guidance to help you complete Task 1-3
P1, M1 and P2
For P1, learners should describe how the marketing techniques listed in the unit content are used in marketing products or services in two different organisations. It is sufficient to select one product/service or product/service range in each organisation. For P2, learners need to describe the limitations and constraints under which marketers operate; this should include legal requirements and the use of voluntary codes and constraints. Learners should relate these constraints to examples. To achieve M1, learners need to demonstrate higher-level skills through comparing or finding the similarities and differences between the use of marketing techniques in marketing products or services in two organisations.
Moodle and Handouts. Textbook.
Coursework Task 4
Assessment and Grading Opportunities
Evaluate the effectiveness of the use of techniques in marketing products or services in one of your selected organisations. You need to judge the effectiveness by weighing up the advantages and disadvantages of the techniques used. Present as a detailed table for your manager. You need to be able to support your evaluation with relevant data. You may like to consider information such as Sales figures
Ideally this evaluation should be linked back to the corporate and marketing objectives you identified in the Introduction Section of your Report.
This task addresses D1
Assessment and Grading Criteria
Student Guidance to help you complete Task 3
For D1, this will be developed further into an evaluation of the effectiveness of the use of marketing techniques in one organisation. Evaluation requires more than stating an opinion and should demonstrate higher-level skills such as researching and interpreting data and using logical judgements about the validity and reliability of the data used to evaluate the effectiveness of the marketing techniques.
Power points. Moodle and Handouts. Textbook.
Introduction –Task 1
Introduction – identify the two organisations and the product or product range within each that you intend to base your assignment on. Identify their main corporate objectives and explain how these influence the marketing objectives set by the respective organisations (100 words).
Describe the constraints and the limitations under which marketers operate making use of examples to explain your points. This task addresses P2 Discuss four laws that have to be followed
Explain what is the “voluntary code of practice” that has to be followed
The voluntary code of practice is that everyone/ every business has to follow these laws. If they do not comply they can get fines and be sent to jail.
Findings – Task 2
Definition of branding-
A brand is a “name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of other sellers.
Supervalu’s branding includes their logo “real food, real people” and their name. Supervalu has their own brand of goods, the branding on these goods include the Supervalu logo and are available thought all stores. Supervalu’s logo is placed in front of all of its shops as well as trolleys and other things in the store.
Why is Supervalu successful-
Supervalu’s success over the years can be attributed to our innovative approach in all areas of the business to reflect the changing lifestyles and demands of our customers. “We are constantly reviewing our product range, putting new product ranges from Irish producers on our shelves and developing our stores to ensure our customers can expect the ‘WOW’ factor at all times. Indeed our knowledge and the closeness of our retail partners to their consumers and communities has fuelled many new initiatives including the development and expansion of our own brand product range that has become increasingly popular with consumers. We are continuing to build this range whilst maintaining our partnership with local suppliers, value for money and the quality standards our customers expect from our brand.” Loyalty to Trollans-
When Tesco’s opened in Portstewart, a lot of Supervalu’s customers started shopping at Tesco’s, this was because Tesco’s was bigger and was generally cheaper. The majority of the customers that come to Supervalu each day are loyal to Trollans shop. This is because they would have originally known Charlie Trollan who started the shop as he was very well known within Portstewart. Although Charlie sold the shop a few years ago, some of his customers have stayed loyal to supporting his shop.
Due to Tesco and Asda expanding their operations in N.I in recent years, Supervalu has recently had to create a new promotions line to win back their old customers. This line is the Tesco’s price match guarantee. This line offers 1000’s of goods at the same or less than the price they would cost in Tesco’s.
Apple is one of the biggest and most recognised companies in the world. 75% of people in the U.K aged 18-30 own at least one apple product. The apple logo is placed on all of their products (usually at the back). The reason apple is so successful is because.
Easy to use-
Jobs was a stickler on this point. While industrial design is a critical component of any product Apple makes, if it is not easy to use, it is considered worthless to the consumer. This is what drove the company’s user-interface designs from Day 1 and is still the mantra pushed to the software and hardware engineers every day they go to work. All of the products they create have to be intuitive and easy to understand and learn. As technology has become more intricate and users want more features, the task of keeping things simple is sometimes difficult. And Apple creates tools for power users and rookies, which can mean a broad range of ease-of-use issues.
Keeping things simple-
Apple is successful is because it minimizes the decision making process for the consumer by making things simple. In their stores, they have to have as so many different models of each product available, that makes it hard for his staff to be really knowledgeable about all of them all of the time, and their customers just have too many options to choose from. The product software is easy to use and has the same layout across all devices, this makes it easy to use all their products when you know how to use one of them. This software has been copied by so many competitors.
Great customer service:
Apple has great customer service in their stores. The staff in the stores are very appreciable and know everything you need to know about anything they have to offer. The help you decide which model is best for the consumer and helps you learn to use it. They also offer technicians that fix any problems with the customer’s product if they bought it within a year of buying it.
Two years ahead-
This is the one that scares Apple’s competitors the most. While those competing with Apple are just getting products to market that are competitive, Apple is already working on the products at least two years out. For example, the new iPhone that will most likely go to market in October was designed and signed off on two years ago. The same goes for the iPad. The new iPad was signed off on two years ago. The one that’s being worked on now we will probably see in 2016. This is a nightmare for Apple’s competitors and will continue to be for some time.
Definition of relationship marketing
Relationship marketing is marketing activities that are aimed at developing and managing trusting and long-term relationships with customers. In relationship marketing, customer profile, buying patterns, and history of contacts are maintained in a sales database e.g. Tesco’s club card.
Explain it in detail
Relationship marketing was first defined as a form of marketing developed from direct response marketing campaigns which emphasizes customer retention and satisfaction, rather than a dominant focus on sales transactions. As a practice, relationship marketing differs from other forms of marketing because it recognizes the long term value of customer relationships and extends communication beyond intrusive advertising and sales promotional messages. With the growth of the internet and mobile platforms, relationship marketing has continued to evolve and move forward as technology opens more collaborative and social communication.
Why is it important?
Customer relationships are the lifeblood of every good company. Two-thirds of customers switch from one company to another because of a perceived attitude of indifference from the former company, it makes sense to focus as much attention on customer retention as you do on customer acquisition. Develop a good relationship marketing program that takes into consideration both customer relationship marketing, and customer acquisition through relationship marketing.
How is relationship marketing used by your two organisations to market products?
Supervalu- Relationship marketing is used by Supervalu through having nice staff. Supervalu stores are often small and are used by locals in the area. The staff eventually get to know the regulars in the shop and bond with them. This makes the customer loyal to Supervalu because they feel welcomed at the shop and enjoy shopping their.
Apple- Relationship marketing is used by Apple through their customer service. This is one of the main factors why apple buyers come back to buy more from them. Apple uses this in their adverts to show that they are friendly to their customers.
Growth strategies- such as Ansoff’s Matrix
Definition of the Ansoff Matrix-
The Ansoff matrix helps to understand a marketing or business development strategy. A business can choose which strategy to employ, or which mix of strategic options to use to best achieve its objectives. The Ansoff Matrix is usually used after marketing has been carried out. The Ansoff Matrix identifies four distinct strategies that a business can employ to grow its business.
Draw the matrix
Explain the Ansoff Matrix and each of the four categories
Market Penetration: Market penetration is when a business sells more of its existing products to more of their existing type of customers. To achieve this, the business must improve their existing products, advertising of the products, distribution and their pricing.
Product Development: Product development is when a business sells new products to their existing type of customers. To achieve this, the business must make use of the marketing mix.
Market Development: Market development is when a business sells existing products to new types of customers. To achieve this, the business may have to change the product in slight ways to meet other countries requirements.
Diversification Strategy: A Diversification strategy is when a business sells completely new products to completely new customers. To achieve this successfully the business must research into the new market they are going into.
Why is it important?
The Ansoff Matrix is important because it helps business owners to analyse the potential for each of the growth strategies. A business that operates in an expanding market can grow through market penetration. However, a business in a mature, stable market may choose to grow either through market development or product development depending on its internal strengths. If neither of these offers sufficient potential, a business may consider diversification to achieve further growth.
How is the Ansoff Matrix used by your two organisations to market products?
Supervalu- The Ansoff matrix is used by Supervalu when they release a new range of products to their stores or building e.g. a bakery in one of their shops. This is to establish who they are selling the new/existing products to and how they are going to do it.
Apple- The Ansoff matrix is used by Apple to understand who they are selling to when they are releasing a new product and what type of market they are entering into.
Conclusion -Task 3
In this Section of your report compare the differences and similarities between the marketing techniques used by both products/product ranges.
Similarities- A similarity of how Supervalu and Apple use growth strategies is that they both would use several types of advertisements to try and boost their sales of goods. Such as TV advertisements, social media advertisement and use their own websites as a form of free advertisement.
Differences- A difference between how Supervalu and Apple use growth stratagies is that they each would be expanding their business into different markets. E.g. apple could expand into making TV’s although realistically Supervalu would never expand into that kind of market. They would most likely expand into making clothes.
Similarities- A similarity of how Supervalu and Apple use branding is that Apple and Supervalu both have their logo on all of their products. This makes their own products unique to them and often in Apples case why many of their customers buy their products.
Differences- A difference between how Supervalu and Apple use branding is that Supervalu uses their logo so that customers can tell that they are cheaper products than their competitors, the Supervalu logo usually represents a less quality product at a cheaper price. The Apple logo is used to represent the highest quality product that a consumer can buy and a very trusted company.
Similarities- A similarity of how Supervalu and Apple use relationship marketing is that they both offer great customer service this helps both companies to gain loyal customers.
Differences- A difference between how Supervalu and Apple use relationship marketing that apple offers a repairing service for there goods that makes their customers want to come back to them. Supervalu hasn’t got this, Supervalu uses another type of Relationship marketing and this is by being a local and friendly shop.