ASSIGNMENT

Unit 3 – Investigating Marketing - Section A

Introduction

This section focuses on your chosen product. You will carry out and produce evidence of market research (both primary and secondary) evidenced by a range of sources for your chosen product. You should submit this section in the form of a report.

Task 1

Write an introduction.

Guidance

The introduction should include:

• The reasons for the investigation (see scenario)

·          The company name and background information

·          Brief overview of the market in which the company operates

·          Overview of the Cadbury’s product range

                                                                                                                

                                                                                      Deadline __________________________

Task 2

Describe and explain the product you have chosen.

MB1

Guidance

Include the following:

·         a description of the product

·         the ingredients

·         details of the packaging

·         an illustration

                                                                                        Deadline __________________________

Task 3

Explain the reasons and justification for your choice of product.

MB2/3

Guidance

Explain your reasons and justification for your choice of product by:-

• Including statistics (e.g. on obesity levels to justify need for low fat bar)
• Including a positioning map to show gap in the market.
• Information about Cadbury and the gap in their product portfolio
• Including information on trends
• Including information on consumer changing tastes/habits
• Including competitor action information

                                                                                       Deadline __________________________

Task 4

(a) Explain what market research is and its main purposes. (b) Explain what primary research and secondary research is. (c) What is the difference between quantitative and qualitative research?

Guidance

(a) Include the following:

·         to identify target markets

·         to identify size and structure of market

·         to identify competition

                                                                                       Deadline __________________________

Task 5

Explain why market research is important before you produce your product and explain what research you are going to do.

Guidance

·         You will conduct a questionnaire(s) and hold a focus group for your primary research and use the internet, newspapers and government statistics

                                                                                        Deadline __________________________

Task 6

Design and distribute a questionnaire.

MB1

Guidance

·          Design a questionnaire and distribute to at least 30 people.

·          You may need to consider the types of people you want to complete your questionnaire, e.g. age, sex.

                                                                                       Deadline __________________________

Task 7

Collate your results and present your findings using graphs and written analysis.

MB1-3

Guidance

• You must analyse ALL the questions
• You need to produce either a graph or pie chart and it must depict percentages and not numbers e.g. 40% male, 60% female
• You must state why you have asked a particular question and what the response was, e.g. ‘I asked 60% of females because I intend to produce a chocolate product aimed at females’.

For MB2/3 your research should be in depth and obtained from a wide range of relevant sources. 

Your analysis should include:

·         sample sizes,

·         usefulness of the data

·         validity and limitations

                                                                                         Deadline __________________________

Task 8

Carry out a focus group and analyse your results.

MB2-3

Guidance

You must include the following:

• a table showing the results of the focus group typed up by yourself
• a detailed analysis of the findings making reference to your own choice of product

                                                                              Deadline __________________________

Task 9

Carry out and produce evidence of basic secondary research.

MB1 – 3

Guidance

• The research could include:trends in eating, sales of chocolate products or any other information relevant to your choice of product

• You must use at least 4 sources (e.g. internet, newspaper, government trends – www.statistics.gov.uk, Mintel etc.)
• Analyse your findings including usefulness of the data, validity and limitations

                                                                             Deadline __________________________

Task 10

Summarise your main findings from your primary and secondary research.

MB1-3

Guidance

·          Explain how your findings have justified your choice of product and/or your intended target market.

OR

·          Has your research made you reconsider your choice of product and/or intended target market?

                                                                                 Deadline __________________________

FINAL DEADLINE FOR FULL WRITTEN REPORT

___________________________

Unit 3 – Investigating Marketing

Section B

Introduction

This section requires you to show your understanding of segmentation and target market by explaining how segmentation applies to your chosen product and describing your target market. You should submit this section in the form of a report.

Task 1

Explain the possible marketing aims and objectives a business may have.

MB1

Guidance

A business will use different marketing activities depending on the objectives it is aiming to achieve. You must list these and explain how they will be achieved.

• To improve market share
• To diversify
• To relaunch a product
• To improve sales
• To understand customer needs
• To increase brand awareness
•  Improve profitability
• Developing new products

Task 2

Explain and justify the marketing aims and objectives of your business.

MB2

Guidance

·         Explain what the term ‘SMART’ means.

·         The aims and objectives for your business must be very clearly justified taking account of the term ‘SMART’.

·         Give 3 or 4 marketing aims and objectives for your product and explain why you have chosen them.

                                                                         Deadline __________________________

Task 4

Explain what is meant by target market.

MB1

Guidance

• Give a definition and use examples to support your explanation.

Task 5

Explain how the target market is identified using segmentation and include examples.

MB1

Guidance

You will need to consider the following ways in which markets can be segmented:

• by age
• by social class
• by gender
• by lifestyle
• geodemographic segmentation
• niche/mass markets

Explain each of the above and give examples of different target markets and the segementation criteria of them.

Task 6

Explain and illustrate how segmentation applies to your product and how this will identify your target market.

MB2

Guidance

Go through the segmentation criteria and identify your target market.  Give reasons for your segmentation and show why it relates to your product.  It may be due to image, quality, status etc.

Task 7

Consider the ‘aims and objectives’ and ‘segmentation’ and suggest how this information has allowed you to select a target group for your product.

MB3

Guidance

You will need to explain how your aims and objectives, your product and your segmentation links together to determine and justify your choice of target market.

DEADLINE FOR WRITTEN REPORT

________________________

                                 

                                     

Unit 3 – Investigating Marketing

Section C

Introduction

In this section you are required to create a marketing mix for your chosen product. You should submit this section in the form of a report.

Task 1

Write an introduction to this section explaining what a marketing mix is and why they are used by businesses.

Guidance

• You will need to explain about product, price, place and promotion.

Task 2

PRODUCT: Explain the importance of this element of the marketing mix.

MB1

Guidance

You must include:

• the product ‘features’.
• the ‘product life cycle’ explaining the cycle that your product will take.
• the ‘3 levels’ of a product.

Task 3

Explain your final product showing how your market research has helped you make this decision.

MB2

Guidance

• Make reference to your market research (primary and secondary) to justify your final choice of product.

Task 4

How has segmentation contributed to your final choice of product?

MB3

Guidance

You must include a range of factors and these must be justified in detail.

Task 5

PRICE: Explain the importance of this element of the marketing mix and state which strategy(s) are appropriate for your product.

MB1

Guidance

You must describe the different pricing strategies:

• Price skimming
• Price penetration
• Promotional pricing
• Mixed pricing
• Contribution pricing
• Discriminatory pricing
• Psychological pricing

Task 6

Give reasons from your market research why the pricing strategy(s) you have chosen are most suited to your product and Cadbury.

MB2

Guidance

Make reference to your market research (primary and secondary) to justify your final choice of price.

Task 7

Consider your target market/segmentation and suggest how this information affects your choice of price.

MB3

Guidance

You must include a range of factors and these must be justified in detail.

Task 8

PROMOTION: Explain the importance of this element of the marketing mix and state which form(s) of promotion you have decided to use for your product.

MB1

Guidance

Include the different types of promotion businesses can use:

• Branding
• Advertising
• Sponsorship

Task 9

Give reasons for your chosen methods of promotion making reference to your market research findings.

MB2

Guidance

Make reference to your market research (primary and secondary) to justify your final choice of price.

Task 10

Explain why these methods are most suitable/effective for your target market.

MB3

Guidance

You must include a range of factors and these must be justified in detail.

Task 11

PLACE Explain the importance of this element of the marketing mix and state which distribution channel you will be using.

MB1

Guidance

• Describe the different channels available to businesses.
• Describe the different types of outlets where your product could be sold and state which one(s) suit your product.

Task 12

Consider your choice of distribution channel(s)/outlet(s) and explain how your market research findings have helped you to arrive at your decision.

MB2

Guidance

Make reference to your market research (primary and secondary) to justify your final choice of price.

Task 13

How does your choice of place link to your segmentation?

MB3

Guidance

You must include a range of factors and these must be justified in detail.

Task 14

Summarise your main marketing mix decisions and provide an explanation of how they complement each other and allow you to achieve your marketing aims and objectives.

MB1,2&3

DEADLINE FOR WRITTEN REPORT: _____________

Unit 3 – Investigating Marketing

Section D

Introduction

This section requires you to consider the possible internal and external constraints on your marketing mix (4p’s). It is necessary to do this in order to evaluate the success of your proposed marketing mix. You should submit this section in the form of a report.

Task 1

Explain what internal constraints exist and the impact they are likely to have on your product.

MB1-3

Guidance

• You will need to explain about the costs, time, skills of staff available, and ethical standards and relate these to your product.
• Explain how cost has influenced your choice of marketing mix.

Task 2

Explain what a SWOT analysis is and how it is used by a business.

Guidance

• Use your class notes and text books.
• You will need to understand this clearly in order to move on to the next question.

Task 3

Produce a SWOT analysis for your product to identify the factors that influenced your marketing mix.

MB1-2

Guidance

You need to give reasons for each of the factors you have identified showing how the factors will affect the product.

Task 4

Produce a fully justified SWOT analysis for your product to identify the factors that influenced your marketing mix.

MB3

Guidance

You must include a good range of factors and these must be justified in detail.

Task 5

Explain what a PESTEL analysis is and how it is used by a business.

Guidance

• Use your class notes and text books.
• You will need to understand this clearly in order to move on to the next question.

Task 6

Produce a PESTEL analysis for your product to identify the factors that influenced your marketing mix.

MB1-2

Guidance

You need to give reasons for each of the factors you have identified to show how the factors will affect the product.

Task 7

Produce a fully justified PESTEL analysis for your product to identify the factors that influenced your marketing mix.

MB3

Guidance

You must include a good range of factors and these must be justified in detail.

Task 8

Go through each of your 4 P’s and use example from your PESTEL/SWOT to justify the decisions you have made.

MB3

Guidance

You must include a good range of factors and these must be justified in detail.

DEADLINE FOR WRITTEN REPORT - ___________________________________