Reference no: EM133581006 , Length: word count:4000

Marketing and Markets in a Digital Age

Learning Outcome 1: demonstrate a critical understanding of key marketing concepts & theories and the related academic literature K2 demonstrate a critical understanding of markets and their different contexts

Learning Outcome 2: evaluate and provide an overview of the key drivers of change for markets & marketing in the digital age

Learning Outcome 3: demonstrate the ability to apply critical evaluation and strategic thinking skills

Learning Outcome 4: demonstrate the ability to identify, select, analyse, synthesize and interpret credible information whether from academic or the trade press sources

Context

The context for this assignment Walkers is a British snack food manufacturer mainly operating in the UK and Ireland. The company is best known for manufacturing potato crisps and other snack foods.

Background UK Snack Market
Walkers Snack Foods Ltd, is a major player in the UK snack market.

Several studies demonstrate a long-term increase in snacking, however the reasons for snacking have shifted. This is partly due to the recent COVID-19 health crisis which uncovered an emotional role in consumer snack choices.

Whilst the number of times consumers snack throughout the day has remained steady, the overall volume of consumption per consumer has grown.

A need for nourishment through food supports sustenance, wellness and health needs, snacking also serves as a distraction helping to cope with boredom and frustration, both identified as snacking triggers. Traditionally ‘snacking' has been viewed as something for kids or to be avoided from an unhealthy nutritional standpoint. Recently though, the concept of snacking has undergone a perceptual shift; that snacking can contribute to a healthy lifestyle.

As consumers emerge from the pandemic trends suggest they are choosing more healthy snacks, although this varies greatly depending on generation. Gen Z consumers (born 2000 onwards) are of interest to snack manufacturers. This generation comprise more than 40% of the world's population and the largest consumer group. They mainly snack for comfort in a stress-driven environment and view snacking as providing a release from anxiety. As a demographic many skip traditional meals, opting for continuous snacking throughout the day. For this time pressed generation, snacking is a cheaper, faster, and more viable option than eating full meals. Today snacking does not necessarily mean that people forgo nutrition, one positive outcome of the pandemic has been the raised importance of good health, wellbeing and nutrition. Many Gen Z consumers are purchasing fruits and vegetable-based snacks and looking for low-sugar or low-salt options, vegan and protein based snacks and meal replacement options.

Context
You are a marketing executive working for Walkers, the brand wishes to grow its UK market. You are to identify a market opportunity for the development of a new snack product/ brand for Gen Z consumers.

Assessment Overview
Part 1. Case Study - You are to write a case study focusing on how Walkers creates value for its customers through its marketing.

Part 2. Report - You are to write a report recommending relevant marketing strategy brand for new Walkers snack product/ brand for Gen Z consumers in the UK market

A key theme of both will be discussion on how marketing activity and the market is influenced by current technology.

Below is a range of relevant references to support this assessment. You are expected to undertake your own online research and include your own sources, such as but not limited to: IBIS World Market reports, Euro Monitor Market reports, market reports, news items, social media, company reports.

Dee H. (2021) ‘Potato Crisps & Snacks Production in the UK'

Part 1: Case Study - The Walkers (1,000 words)

Format -the case study must critically evaluate and incorporate the following aspects:
• Brief company overview and mission statement of the Walkers .
• Evaluate the core offering, of the Walkers customer ‘'needs and wants, ‘jobs to be done', and how are these currently satisfied through the provision of the marketing mix.
• Evaluate to what extent the Walkers demonstrates a ‘market orientation'
• With reference to the 4.0 and MarTech technologies studied on the module critically evaluate to what extent technology influences the delivery of value through Walkers' marketing approaches, how does this compare to use of technology in the sector. (You will be expected to research other similar FMCG companies and cite your applied examples)

To demonstrate application of marketing theory, organisational and contextual accuracy, the case study should be supported with referenced evidence from a range of industry and credible academic sources.

Part 2: Individual Business Report (3,000 words)

Your task is to compile a business report recommending how to market a new Walkers snack product / brand to the Gen Z audience.
Main report (all of these sections below should relate to your case study information)

1. Executive Summary - summarise the report in its entirety, including your recommendations. (100 words)

2. Introduction - Outline the context (100 words).

3. Market Trends Analysis - using the sources provided (not limited to) justify the market for the above opportunity; consideration to Gen Z customers, competition, key market trends. You should provide the name of your new product range at the end of this section. (400 words).

4. Recommendations on Segmentation, Targeting and Positioning (STP) - make recommendations on the STP strategy for the new product you must reference academic marketing theory to support your discussion. (300 words)

5. Customer Persona Based on the STP discussion and your understanding of the Gen Z customer develop one target customer persona. (Embedded jpg image including text, not included in word allocation - appropriate and relevant text) This should provide intricate detail about your customer. This detail is important as your recommendations (marketing mix approaches) must align with this customer's profile. This should be based on secondary research utilizing the sources above (not limited to).

6. Recommendations - critical application of the marketing mix tabulate as below. You will complete and include the table below. Critical discussion demonstrating marketing mix decisions for a value driven marketing strategy identifying how the organisation will engage with this customer
group.This should be underpinned with explanation and reference to marketing theory to justify your recommendations. The final column should not simply contain a refence, relevant theory should be located and a critical explanation should be provided in support of your marketing decisions. Gen Z are the most tech savvy generation the marketing mix must consider technological integration to support a great customer experience. (1,400 words)

7. Customer Journey Mapping -A short section linked to CJM theory demonstrating that you understand the benefits of CJ Mapping applied discussion CJM theory, benefits, an overview of how your map relates to the academic theory and what it sets out to achieve. (400 words)

8. Detailed Customer Journey Map - Depict the customer journey in accordance with your recommendations. It will consider marketing touchpoints and should aim to also consider the customer's ‘cognitive' journey (these are the questions customers may ask as they move through the purchasing journey). You could also aim to include the emotional journey - how the customer is feeling.
(Embedded jpg image including appropriate and relevant text) (300 words)

9. References List -To demonstrate application of marketing theory, organisational and contextual accuracy, the case study and report should be supported with referenced evidence from a range of credible academic and practitioner sources.

10. Appendices if appropriate

To demonstrate application of marketing theory, organisational and contextual accuracy, the case study and report should be supported with referenced evidence from a range of credible academic and practitioner sources. You must use the HARVARD referencing system