Components of the marketing environment

Assignment Help Marketing Management

Reference no: EM133714756 , Length: word count:1000

Principles of Marketing

Learning outcome 1: Demonstrate knowledge of STP marketing planning process.

Learning outcome 2: Identify the key components of the marketing environment.

Learning outcome 3: Identify research requirements to begin to solve a business/marketing problem in a company.

Brand Extension Report

Assignment task: Working in small teams to develop a 10-minute group presentation for a new brand extension, you will then need to submit a group co-authored 1000-word report explaining the new brand extension and justifying why it will be successful.

As a team you need to select an existing brand (you may choose one of the brands from the CW1 assignment or a brand of your own preference) and develop an idea for a new brand extension e.g. Dove toothpaste. This is partly a creative exercise, but it must be based on thorough research into:

The current values of the brand being extended.
The potential target market for the brand extension.

This will involve academic research, secondary research and competitor research in store. It may also involve small scale primary research to establish whether your new brand extension finds acceptance with your chosen target market. However, for this assignment, marks will be awarded for the results of the primary research, not a full description of the process of carrying it out.

Academic Reading
You need to ensure that you have read, at the very least, chapters 6, 9 and 10 in Brassington and Pettitt's "Essentials of Marketing" and the BB source materials available on Kapferer's Brand Identity Prism in Keylinks.
Also use WARC to find articles on (or related to) the topic of brand extensions - for example
WARC June 2016: How to extend a brand
WARC News 23 January 2013 "Brand extensions favoured by shoppers"
WARC Case Study :John Lewis Insurance: The power of true brand extension marketing, IPA Effectiveness Awards, 2016
D. Aaker (1990) Brand Extensions: The Good, the Bad and the Ugly

Secondary Research
You will need to make reference to appropriate Mintel reports as well as the company's website and press articles about the existing brand. You should also try to find information about the brand's values and existing target market. Additionally you will need to research current issues in the marketing environment (PESTEL analysis) that potentially could impact on your new product introduction.
Competitor Research
You will need to look at the existing products in the new suggested market to ensure that your new brand could compete effectively (e.g. with Dove toothpaste you will need to consider Colgate and Aquafresh)

A 10-minute PowerPoint presentation with an additional 5 minute Q &A session. The presentation needs to cover the following points
Background on the chosen brand include useful data such as market share, market size and trends in sales.
Coverage of the existing brand values supported with use of visual examples, eg advertising campaigns, company's web site, sponsorship activities etc.
A brief explanation of the new brand extension product with reference to what growth strategy the brand is adopting. (Ansoff).
Clear identification of the proposed target market for the new brand extension (include any primary data results if undertaken).
Any key trends and PESTEL issues that have influenced your choice of brand extension idea.

A comparative analysis of your suggested brand extension with any key competition identified in the new market sector.
A Visual Image of the Brand Extension showing brand name, packaging design and logo. You also need to consider how your brand extension will be distinct from competing products.

Group Report

The report is a supporting document to the materials presented above and you need to include a sound academic framework to the discussion.
We suggest that you adhere to the following headings for your reports:

Executive Summary
THIS IS WRITTEN LAST (because it is a summary of your research) BUT IT APPEARS FIRST (even before the contents page), in order to catch the attention of the reader and encourage them to read further. It should cover in one page or less:
The aims of the report,
The methods of research,
The results (top-line summary only),
Conclusions.

Contents Page (Use the feature in Word to do this automatically).

Introduction
This should be quite brief. It should include the aims of the report and some background on the chosen brand. Include useful data such as market share, market size and trends in sales, which you can find from the most recent Mintel reports and in the trade press.

Methodology
A simple statement of how the research was carried out. This is particularly important in terms of competitor research, observational research, or primary research if you included it. Ideally you should critique whether your data is sufficient to justify your conclusions.

Findings
It is suggested that you use sub-headings to make your report easier to follow. You could adopt the following headings:
Existing brand and Brand Values -coverage to include key academic definitions explaining what is a brand, the concept of a brand extension and a detailed examination of one academic model on branding. (i.e. Kapferer's Brand Identity Prism).

Description of the Target Market - a detailed description of the TA for the new brand extension supported by reference to secondary sources e.g. Mintel and TGI supported by academic coverage of STP marketing planning process.

Analysis of the New Market, Including Trends - PESTLE analysis and Ansoff's Grid in the discussion of the growth strategy adopted.

An Explanation of the New Product (Tauber's Brand Extension Options, product packaging, the choice of a brand name and brand positioning).

Competition - a comparative analysis of your suggested brand extension with any competition identified in the new market sector (this should be tabulated).

You should try to put relevant raw data in the appendices and just include a summary in the body of the report. Every time you state a fact e.g. market size, price data, sales etc. you must provide a referenced source for that fact (both in the text and in the reference list). All tables and graphs should have the source written directly underneath.
Conclusions
This is where you provide some element of evaluation of your research findings. Do you think your brand extension will be successful? Why/Why not?

Reference List
This should be listed alphabetically by Surname and should follow the rules of Harvard Referencing perfectly.

Assignment structure

Working in small teams to develop a 10-minutes group presentation for a brand extension, student will then need to submit a group co-authored 1000-word report explaining the new brand extension and justifying why it will be successful.

The presentation needs to cover the following points:

Background on the chosen brand include useful data such as market share, market size and trends in sales.

Coverage of the existing brand values supported with use of visual examples.eg advertising campaigns, company's web site, sponsorship activities etc.

A brief explanation of the new product with reference to what growth strategy the brand is adopting. (Ansoff).
Clear identification of the proposed target market for the new brand extension ( include any primary data results if undertaken)

Any key trends and PESTEL issues that have influenced your choice of brand extension idea.

The report is a supporting document to the materials presented above and student need to include a sound academic framework to the discussion.
For the report writing students required to,
Select an existing brand (Student required to choose one of the brands from the CW1 assignment or a brand of your own preference and develop an idea for a new brand extension
e.g. Dove toothpaste. This is partly a creative exercise, but it must be based on thorough research into:

The current values of the brand being extended

The potential target market for the brand extension.

Reference no: EM133714756

Questions Cloud

Closs was often observed in units common spaces : Mr. Closs was often observed in the unit's common spaces. He devoted much of his time to walking back and forth in the hallways

What the cells of your mouth look like under the microscope : Here is a video on how to make a cheek cell wet mount and what the cells of your mouth look like under the microscope: Cheek Cells Video.

Supplies loaded on cart for sterilization : How are the instruments and other supplies loaded on the cart for sterilization? Where were the instruments stored 1n central supply?

Identify all the relevant roles assumed by the client : Identify all the relevant roles assumed by the client. Explain the role and social position of the social worker in working with the client in the case study.

Components of the marketing environment : MG412 Principles of Marketing, Buckinghamshire New University - Demonstrate knowledge of STP marketing planning process and Identify the key components

Under the recently revised pneumonia classification : Under the recently revised pneumonia classification, which of the following patient descriptions would need referral to a health facility

Frequently seen in common areas of the unit : Mr. Flores was frequently seen in the common areas of the unit. He spent a considerable amount of time napping in his dorm room

Do the advancements in medical science outweigh atrocities : Does the end justify the means? Do the advancements in medical science outweigh the atrocities that resulted in these discoveries?

Contact facility employee health services for assessment : Assess the injured staff member to determine if injury has occurred. Contact the facility's employee health services for an assessment.

User Account

All Pages