MARKETING Foundations - Marketing REPORT (20%) - Applying the Core Marketing Concepts and Evaluating the Marketing Mix.
This assignment has several purposes. It requires you to:
? apply marketing theory to the activities of a specific organization;
? prepare a formal written report.
Instructions
"Using one of the companies/ products/ brands we have used in Tutorial Learning Activities, identify and explain the five core marketing concepts. Describe and discuss the marketing strategy employed for one customer segment. This includes profiling one segment and each of the marketing mix elements employed to meet the needs of that segment."
The companies/ brands are: Singapore Airlines
? Introduction: overviews each of the areas included in the report.
? Customer Profile : Construct a profile of one customer segment targeted by the company
? The Core Marketing Concepts:
o Define and describe what a market is and what a segment is.
o Using your company as an example, explain and describe, needs, wants and demands and apply to the selected segment.
o Using your company as an example, explain and describe the marketing offering (demonstrating the difference between a product, service and experience).
o Define and describe the concepts of value and satisfaction. Describe the role of quality. Using the selected company demonstrate how the product offering currently does, or could, create value and satisfaction for its customers.
o Explain and describe the exchanges, transactions and relationships processes experienced by the customer and the company.
Suggest how might the company build more profitable relationships.
? The Marketing Mix:
o Describe and define the role and importance of the marketing mix.
o Product: Describe the company's product offering including features, quality, packaging etc. Explain the underlying market need or want the product fulfills . Is the offering a good, service, experience, idea or combination and what impact does this have?
o Price: Outline the price a customer pays for the product. Identify and justify which pricing strategy the company uses. What internal or external considerations impact price?
o Place: List the physical places and store locations where the product can be bought. Describe the channel of distribution used by the company. Highlight any logistics management that is of importance.
o Promotion: Identify the types of promotion employed by the company to reach its target audience. Explain the message (value and benefits) the company is trying to communicate to the target market.
o People: Identify the type of interactions and level of engagement between staff and customers. Describe how the service characteristics of intangibility, inseparability, perishability and variability impact the company and customers?
o Process: List the main points in the process of creating, delivering and consumption that serve as ‘moments of truth' for customers to determine their satisfaction level.
o Physical Evidence: Identify the tangible reference points that assist customers to determine the level of quality service and value they are receiving.
? Conclusion - this is a short paragraph reiterating the main issues outlined
? REFERENCE LIST (APA): Use the textbook and company's website to integrate theory and application as a minimum. Ensure to use in-text APA referencing.
? 1500 words (+ - 10%), Report Format.
? Submit to TNTN - labelling the file according to Tutorial session eg. MON1-2
We are looking for your ability to explain things both in theoretical terms and through practical application of the theory to the particular case.
This is not a data gathering exercise. We are not evaluating your capacity to gather data about the company/ business. Where access to available data about the organisation is limited, you may make assumptions where practicable. Please state any assumptions you make.