Part A Review Questions
1) In your own words, explain the following terms in relation to Marketing. Please remember to reference.
- Market trends
- Marketing plans
- Marketing budgets
- Marketing technologies
- Marketing activities
- Marketing networks
- Marketing direction
- Marketing medium
2) When developing a marketing plan, what do you need to set.
3) Which law is designed to promote competition in the marketplace and prevent unfair or anti-competitive work practices?
4) What is the principle that Work Health and Safety is based on?
5) Name 5 factors you should consider to determine your method of advertising?
6) Which of the following would be the best ways of communication if you required global customers?
a) Brochures and Flyers
b) Direct Mail
c) Newspapers
d) Magazines
e) Telemarketing
f) Internet
7) List the 7 Ps of marketing.
8) What must you consider when thinking about staffing requirements around a promotional activity?
9) List 4 examples of ways to promote environmental sustainability in marketing.
Part B Case Study
Read the case study and complete the following tasks.
Case Study:
You work in the sales and marketing department of Griffin's Toy Emporium. Griffin's is a unique organisation in that, as well as selling toys and games from a range of standard toy manufacturers, it creates, markets and sells its own range of toys and games.
Customer satisfaction is very important to Griffin's and you have been asked to coordinate a market research survey to gauge customer reaction to your latest release: Byron the bear.
Byron is a black bear who lives in the Yallanga forest with his friends Sacha the squirrel and Pogo the rabbit. All the characters can be purchased as variously sized soft toys. Griffin's is also planning to launch a range of supporting goods such as key rings, Frisbees, mugs and drink bottles if the primary range of goods achieves moderate acceptance in the market place.
However, the main purpose of these characters is to teach children about the environment they are living in. A range of story books and a board game focusing on environmental issues are also available. Children and parents can also log on to the Byron the bear website for tips about how they can make a difference to the environment.
1. Prepare a table and list four methods you could use to collect information about the impact of Byron and his friends on customers or potential customers. Include the type of information each method would be best suited to collecting. Explain how you will ensure the information you collect is reliable.
2. Draft a questionnaire to gather information from parents who have purchased a Byron product from Griffin's. You have been asked to gather clients' thoughts on price, safety, product range, value for money, where they heard about your products, whether they use the Griffin's website, whether the product has raised awareness of environmental issues in the clients' households and so on.
Describe how you would circulate the questionnaire to customers
3. What WHS (Worplace Health and Safety), ethical and other legislative considerations might apply when developing and administering the questionnaire. And when marketing the product.
4. Describe how you would collate the information collected using the above questionnaire. Include the type of business technology and/or software you would use to collate the information. Include sampling size, cost, degree of accuracy required for the response, the type of research response (qualitative or quantitative), did you include random sampling.
5. What difficulties might you encounter in the process and how would you overcome them? Include budgeting costing and resources (e.g. additional staff, distribution costs, equipment, production costs, promotional costs, research and development, staff training etc).
6. How will Griffin's Toy Emporium stay informed of the future toy needs of its current and future customers?
7. How could the Toy Emporium store information about customer needs?
Develop a policy position in relation to privacy and confidentiality to support your proposal.
8. Identify the key stakeholders in the marketing process and their role. (Table eg. Human resources managers, marketing managers, board of directors, finance staff, marketing personnel, owners, production staff and supervisors etc).
Part C Project
Background Information
You are employed in a small organisation as the Coordinator of Marketing.
Your manager has realised the need to further market the organisation's new product through a number of different methods to try and increase not only business but also product awareness.
Your job is to provide your Manager with appropriate methods of implementing this marketing initiative.
Question 1:
a) Business Overview
Make a clear statement as to what it is you will be marketing.
This includes the following:
- Name of the Company
- Detailed description of the company's core business (SBU's)- a strategic business unit (SBU) is a profit centre which focuses on product offering and market segment. SBUs typically have a discrete marketing ...
- Detailed description of the product you are wishing to market.
- Detailed description of expected target market and an explanation of why you think the segment/s will be interested in your product
b) Competitor Analysis
You know that you are not the only company in the market that is trying to launch a new product. Research three of your competitors who are marketing similar products and compare each of them.
Create a spreadsheet outlining:
- Who your competitors are;
- What their product is, including a detailed breakdown of their product;
- How your product will be competitive in the market;
- Discuss your products Brand and compare it against your competitors Brand power in the market.
c) Marketing Plan
Develop a marketing plan to indicate the actions that you will undertake to successfully launch your new product.
This should include a detailed description of:
- What you would need to complete
- When it should be completed
- Who would need to be involved at each stage
- From whom approval for formal arrangements must be gained.
d) Marketing and Promotion Methods Matrix
i) Make a list of three (3) methods that could be utilised to market your product.
This is to be submitted as a matrix with the following headings:
- Method,
- Description of method,
- Advantages,
- Disadvantages,
- Cost.
ii) Selecting one of the methods you described above, develop a timeline and plan to indicate the actions that you would need to undertake to successfully launch your new product.
This is to include:
- A detailed description of what you would need to complete the project,
- When it should be completed by,
- Who would need to be involved at each stage in the undertaking, including contact details for relevant industry specialists such as printers, advertising contacts, media contacts (printers, television and so on) and venue contacts.
- The budget allocated to the project, for each stage.
e) SWOT Analysis
Conduct a SWOT analysis of your business based upon current and past market growth or decline. Identify weaknesses or risks to your new product launch (including existing under-performing products of business). Analyse the legal, ethical, environmental constraints, which may impact on your marketing activities. Identify critical success factors for your product launch.
f) Press
You are required to make a statement to the Media in relation to your new product.
Make a detailed description or examples of what you would provide to the media representatives that would help you market your product. Explain why you have chosen to provide this information. This should be in the form of a ‘Press Release Pack' or ‘Show Bag' that could be handed to media representatives at your product launch.
The "Press Release Pack" should include the following:
- Press Release
- Sample of your product (as it will appear in the market place) / brochure