MARK101/213 Principles of Marketing - Major Marketing Report

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Assessment Brief

1. Introduction

Marketing is a combination of science and art! YOU need to display both in this major assignment. The scientific part relates to the analysis of the market, followed by identifying the appropriate segment to target. After this has been established (from your thorough research and analysis) you are then able to be artistic, by creating a product that fits the market position you want to achieve. This would include the design of a product, its attributes and branding, plus factors like the pricing, promotion and the distribution of the product. The creativity shown in the development of your 4Ps (Product, Price, Place, Promotion), will need to reinforce the intended position you are trying to achieve for your product in the mind of the target market.

The subject does not have an exam, this major report will therefore determine if you have achieved the learning objectives for this subject, or not! If you fail this major assignment you will get a fail grade (or technical fail grade) for the subject. Please, please, please work hard on this assignment, as this is a major piece of work that hopefully you can be proud of and add to your portfolio when you apply for jobs in the future.

2. Assignment Details

Assignment Type  A major marketing report.
Weighting 40% - You must pass this assignment to pass the subject.
 Length Anywhere between 1,500 to 3,500 words for MARK101 students (and 2,000 to 3,500 words for MARK213 students). A professional report which should be well presented and edited.
  

 

 

 

Assignment format

There is no strict structure for this major assignment. However, you need to submit a professional report that is easily understood, clear to read and professional to look at. You can use any package to create as long as you convert into PDF before submitting. You are encouraged to use tables, figures and pictures to help communicate your findings with the audience that would be reading the report. Please look at the student examples of possible ways to structure your report Please reference all sources referred to in your report, this is particularly important in the first part of your report where you are identifying the dynamics of the market that you are examining. Make sure that there is a reference list at the back of your assignment and in-text citations . If you do not understand how to reference correctly please access the numerous University resources that can help you; for example: https://uow.libguides.com/refcite/uowharvard
 Due date Your draft is due week 12 in your scheduled tutorial. This will be worth 10% of your mark. Your final assignment is due on: 07 Jun 2023 (Wednesday in Study Recess Week 1).
Return date As this is the final and major assignment for this subject, students will not receive marks or feedback untilafter the grades have been released for the subject.

3. Context – The Australian Cereal Market

The market that you will be examining in this major assignment is the Australian Cereal Market. You will need to undertake research to understand the dynamics, the key players, and the broad consumer behaviour trends of this market.

By the end of your analysis you should clearly know who the market leaders are, and what the major products are in the Australian Cereal market. What segments are there within the Australian Cereal market? It is also critically important to understand the consumer behaviour of customers in the Australian Cereal market. Who buys which Cereal? And why do they buy those cereal? This is all part of understanding the consumer behaviour of the customers within this market.

Searching the Internet, and the databases at the UOW library would be a very good starting point for your research. It is important that you gather information from a range of sources for the Australian Cereal market and analyse all of these sources to develop a fuller understanding of the dynamics of that market, and how the customers act within that market.

4. Sections of the Report

There are three key sections in this marketing report. The external analysis section is worth 25% of your marks. The segmentation, targeting and positioning section is worth 25% of your marks; and, the product development section is worth 40% of your marks. The final 10% is the draft you show your tutor in week 12. Deductions may be given for a lack or low level of: style, professionalism, editing and referencing.

  1. External analysis - 25%: In this section you will need to collect, by undertaking secondary research, as much information as you can find about the Australian cereal Questions that you are trying to answer include:
    1. The size of the market (for both dollar and item sold).
    2. The market share of the key products (both the market share for companies, and for individual products).
    3. The reasons why consumers purchase the products; their underlying
    4. Key emerging trends in the
    5. Macro environmental forces that could lead to opportunities or threats in the
  1. Market segmentation, targeting and positioning - 25%: From your external analysis of the market, you will need to identify the different segments that exist. In other words, segment the market in a way that is practical and insightful (remember to include marketing theory) (also note here that there is no correct answer to how to segment a market; just more appropriate and relevant answers). Please profile the segments and clearly identify which segment you are targeting and why. Now that you have identified and justified the segment that you are targeting, write a clear positioning statement that highlights the position you hope to achieve in this segment, the position you hope to achieve for your product in the minds of the Creating a position map will help you determine GAPS in the market.

Before starting this section make sure you understand each of the elements of the diagram below:

There are three important areas in this section of the assignment:

  1. Market segmentation: How is the Australian cereal market segmented? In other words, what groupings of customers are there? Is there a health conscious segment? On-The-Go segment? (just examples)? You will need to ask yourself who are the key customers for each of the
  2. Targeting: for this assignment you will need to target ONE of the segments. Therefore ONE of the groupings (or segments) that you identified above will be the one in which you will launch your new Please clearly explain why you selected this particular market segment to target your new product. This should be informed by your market research.
  3. Positioning: Please read the theory on product differentiation and positioning as this is the part of marketing which is so important and where students struggle to understand the meaning. Positioning relates to establishing your new product in the mind of the customer; where it will be pitched against other similar products within that segment. In other words, how do you want your target market to think about your product? Please consider using a positioning map; and make sure you present a clear positioning statement for your new
  1. New product development - 40%: NOW, the creative, artistic part of the assignment! Create your new product (a packet/bag/box of your cereal) that will achieve the intended position in the target markets Have separate sections for Product, Price, Place, and Promotion (the 4Ps). Please be aware that how you design your product, price, place, and promotion will need to reinforce (in the mind of the target customers) the intended position you are trying to achieve. You will lose marks if your creative strategies in this section do not align to the positioning statement you identified in the previous section.
  2. Product: You need to actually draw (or design) your packaging for your new cereal
  3. product. Please include images of this in your assignment. Please consider the brand name of your product as well. This part of the assignment will only have limited writing and explanation attached; with more graphical creative design of your packaging, the cereal itself and the brand name. GET CREATIVE; GET DESIGNING! (Please note: You will not be marked down if your artistic abilities are not that high, we are looking for the effort and creativity that you show). II. Promotion: How are you going to communicate your value proposition to the target market? In this section you need to design creative communication strategies for your new product that establishes your intended product positioning in the mind of the target market. Are you going to have TV commercials, billboards, Internet ads, and/or a website? You should show examples of graphical mockups/story boards of these promotional activities. Try to keep a common theme through all your promotions; in the industry this is called ‘on message’.
  4. Place (or distribution): Where is your product going to be sold? It is not just as easy as saying that you are going to sell it through Coles or Woolworths. Why would they want to stock your product? What advantage would it be to them to stock the product? Is there a better, or more appropriate distribution strategy you could use to sell your cereal? Think LOCAL! Think online distribution. Make sure this part is in line with your promotional strategies as
  5. Price: What will be your recommended retail price for a bag/box of your cereal? As pricing theory tells you, you will need to consider competitors’ prices, your costs, and what your target market is willing to pay. Please explain these when identifying the Please remember that if you are selling through a retail outlet, you will be selling the product at a lesser price to the retail outlet than the recommended retail price. Please include both of these prices. A key part of this section is to create an Excel spreadsheet forecasting sales over five years (by years). From that you can determine the revenue that will be generated by the sale of your product. You will need to include an estimate/guestimate of fixed and variable costs to give you an estimation of the profitability of the venture and the breakeven point.

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