Marketing Management group assignment

Assessment Task 2 & 3: Resources

Below is a range of resources that will assist you throughout your degree. As you are seeking to enhance your problem solving skills and demonstrate an “advanced and integrated understanding of a complex body of knowledge” (AQF Level 9 – Masters http://www.aqf.edu.au/aqf/in-detail/aqf-levels/)  it is critical that you can demonstrate a structured approach to your thinking.

Your assessment is graded based on you meeting the AQF Level 9 requirements. There is an expectation that you are using the resources below or the resources available to you in the assignment folder to assist in achieving this.

Assessment Task 2: Group Business Report – 20%

Assessment Task 3: Group Business Presentation – 10%

Report Overview

You will form a group (maximum of three group members) and choose ONE of the nominated products that group members wrote about in Assignment One. The second assignment requires the group to develop a NEW marketing mix strategy for a product that competes against the chosen nominated product. For example, your chosen nominated product may be the LG 55 inch full HD3D TV—the group then needs to develop a marketing strategy for a competing product, e.g. the Hisense 55 inch full HD3D TV.

The report will demonstrate how your proposed marketing mix strategy will create and deliver sufficient customer value for the targeted consumer segment to change its preference from the chosen nominated product. DO NOT simply describe the competing products current marketing mix strategy

Your value proposition and marketing mix strategy will be graded based on your ability to prove via evidence from your research and analysis that consumers will, or is highly likely to, change their intended purchasing behaviour away from the nominated product chosen from Assignment 1.

Integrate concepts of consumer behaviour to provide consumer insights in order to develop a value proposition a marketing mix strategy that changes consumer behaviour. Integrating theory does not mean cut and paste of theory. It means using the theory to structure the logic of your argument or to justify a specific insight or to provide credibility / validity to an assertion. The overall purpose of the assessment is for you to demonstrate an “advanced and integrated understanding of a complex body of knowledge (AQF Level 9 – Masters http://www.aqf.edu.au/aqf/in-detail/aqf-levels/ )

Step 1 – Consumer Analysis - (500/600 words)

Describe the consumer / segment using the theory and frameworks from marketing to structure the information you are presenting. It is suggested you research a wide range of general marketing textbooks (658.8 in any library anywhere in the world) to find the most appropriate visual representation / structure to present your information and analysis. The purpose of using these frameworks is to provide a clear structure to the information you are communicating to your reader.

At the end of this section there must be an overall insight regarding the buying behaviour (need triggers, information search patterns, criteria for evaluating product alternatives, etc) of the target segment. This insight will be one of the underpinning components for the justification of your proposed marketing mix strategy.Please aim to provide at least four academic (text or journals) for this section. Use APA (in-text) referencing: 

Step 2 – Competitor Marketing Mix Analysis - (500/600 words)

For the nominated product that the consumer is intending to purchase, undertake an analysis of the value proposition and marketing mix for that brand/product.  For example, your chosen nominated product may be the LG 55 inch full HD3D TV. You will analyse the current brand/product value proposition and marketing mix strategy with a focus on explaining why the value proposition and marketing mix of the brand might influence the decision making of the consumer / target segment to purchase this particular brand/product. Your analysis will need to be based on (evidenced by) examples of marketing communication, pricing, description of current channels of distribution, and product specifications. These can be included in the appendix of the report.  

DO NOT just describe the marketing mix of your nominated product

As you only have 2000-3000 words the information in the body of the report may be presented as a table followed by you analysis of the table. Refer to Report Writing document in the assignment folder – see section on visualisation.

The end of this section must provide an overall insight as to why the value proposition and marketing mix of the nominated product might influence the consumer target market’s decision making toward this product.You must be able justify your using theory and concepts from marketing

Step 3 – Proposed marketing mix strategy for competing product – (1,000 words)

For the product that is competing against the nominated product, e.g. the Hisense 55 inch full HD3D TV, you are to provide a clear value proposition statement and detailed marketing mix strategy whose goal is to change the consumer’s preferences away fromthe nominated product e.g. LG 55 inch full HD3D TV. As stated above, DO NOT explain the current marketing mix strategy but rather develop a marketing mix strategy the reflects your insight of the consumer in step one

Do not simply list proposed marketing mix activities. You will need to detail the goals and objectives of your marketing mix strategy, the value proposition your brand/product offers and along with a detailed description of your marketing mix strategy.

Step 4 – Justify proposed marketing mix strategy for competing product – (500 words)

The key focus of this section, is to explain and justify, using theory from marketing and the information analysed in steps 1, 2 & 3 above, why your proposed marketing mix strategy and value propositionwill, or is highly likely to, change the consumer target market’s intended purchasing behaviour away from the nominated product. You are to use at least six additional textbook or journal articles from those used in step 1 above. Use APA (in-text) referencing : 

As you only have 2000-3000 words the list of marketing mix activities may be presented in the body of the report as a table followed by your analysis of the table. Refer to Report Writing document in the assignment folder – see section on visualisation.

Structure Assessment Task Two — Group Business Report

·        Report format—business (not an essay) – See below and Report Writing.

·        DO NOT write in the first or second person (I, we, our)—write in third person only.

·        Proof read at least three times for spelling, grammatical and logic errors.

·        Font— Any San Serif font, e.g. Arial.

·        Size—11.

·        Paragraphs—fully justified.

·        Paragraph spacing—one space before and after.

·        Line spacing—1½ lines.

·        All tables and diagrams labelled—they do not form part of the word count—check APA 6th Ed. manual

·        APA reference style.

·        An Assessment Criteria Sheet MUST be fully completed and attached to the front of the assignment—after the Business School Assignment Cover sheet.

Structure Assessment Task Two — Group Business Report

Title page

o   BUMKT5902 Marketing Management

o   Student adds location, Semester 1, 2017

o   Group Assignment—Changing Consumer Preference Strategy

o   Names of each group member (Group Assignment). If you are an international student and also have an English name please write both names

o   Each group members IDs

o   The Due Date and Time—Wednesday

o   Submitted to—Student adds lecturer’s name

Executive Summary (not counted in word count) – See Report Writing notes on how write ES

            Introductory sentence/short paragraph

            Major findings

            Major recommendations

Table of Contents

Introduction

            Background to the task (include brief description of the product)

            Purpose of the report

            Format of the report

Target consumer – description and insight. Use the theory of marketing / consumer behaviour to structure.

Explain and analyse nominated value proposition and marketing mix strategy

Explain competing product value proposition and marketing mix strategy

Justify why the proposed value proposition and marketing mix strategy for competing product will change consumers’ preference.

Appendix — if required. See Report Writing notes for structure and purpose of appendix

Structure Assessment Task Three — Group Presentation

Suggested structure. You do not have stick strictly with this however the points detailed below must be covered in some form. You can use Prezi if you wish. If you use Prezi upload .pdf of presentation

BUMKT5902 Group Assignment: Report Marking Criteria

Must be attached at the front of the report

Mark:______________Comments:_________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________