Task A- Group Assignment
: 40%
This assignment is designed to encourage students to explore the impact of buyer behaviour on marketing strategy through the examination of an actual product category. Working in groups, you are required to demonstrate the application of buyer behaviour concepts at various stages of an organisation’s marketing planning process. The discussion of concepts will help you to achieve a deeper level of learning. The application of the concepts will prepare you for discussion and use of these concepts in other marketing subjects and in the world of work.
The final report is due in Week 12.
What do we need to do?
·
Select a
specific product
(good or service) that has been introduced to the market in the last two
three
years; is of interest to the group and the group considers successful. It is recommended you
choose a specific product
within a product category, i.e. imported beers – e.g. Heineken or Boutique beers – e.g. Mountain Goat beer. Ensure there is availability of secondary information before you start. You are not to access primary data.
– based on Singapore market
·
Select
another brand (close competitor)
which is competing with your brand which could serve as a substitute in the same market.
You can choose any brand as the main competitor. The rule of three years does not apply to the main competitor.
Suggested Format
The assignment will be structured within a marketing mix framework, exploring
internal
Chapter 8 - 11
, external
Chapter 12 - 16
and decision-making influences
Chapter 3 - 7
and involves a detailed and in depth analysis of the primary target market.
Students will be given a detailed scoring sheet as a feedback mechanism.
The report will culminate in an evaluation of the marketing strategies employed.
Acquire following background information in terms of-
Start with Table of Contents; do not need to include an executive summary and an introduction
1.
Market
– Section 1 200 words
- 200 words in a table format
- start with a short paragraph to introduce the brand; followed by a table; for the main brand; do not need to cover any information about the competitors
1.1. Size of market, market share, market position, depth and breadth of product range, company’s principal product (or products) in terms of features and benefits, positioning of the product, product life cycle stage.
- You do not need to cover all these points above; only some relevant points
2. Competitors
– Section 2 200 words
2.1
Number of direct
= main competitor that you will compare with the main brand in the following part of the report
/ indirect
(another competitor; can be any brand that consumers might consider buying)
competitors, size of competitors, positioning as low cost, niche players
Start with a small paragraph to introduce these two competitors; followed by a table (point form) (to compare the 4Ps (a brief description only)
Somersby
Somersby
Product
e.g. brand image, product attrib.
Task A- Group Assignment 40This assignment is designed to enco.docx
1. Task A- Group Assignment
: 40%
This assignment is designed to encourage students to explore
the impact of buyer behaviour on marketing strategy through the
examination of an actual product category. Working in groups,
you are required to demonstrate the application of buyer
behaviour concepts at various stages of an organisation’s
marketing planning process. The discussion of concepts will
help you to achieve a deeper level of learning. The application
of the concepts will prepare you for discussion and use of these
concepts in other marketing subjects and in the world of work.
The final report is due in Week 12.
What do we need to do?
·
Select a
specific product
(good or service) that has been introduced to the market in the
last two
three
years; is of interest to the group and the group considers
successful. It is recommended you
choose a specific product
within a product category, i.e. imported beers – e.g. Heineken
or Boutique beers – e.g. Mountain Goat beer. Ensure there is
availability of secondary information before you start. You are
not to access primary data.
– based on Singapore market
·
Select
another brand (close competitor)
2. which is competing with your brand which could serve as a
substitute in the same market.
You can choose any brand as the main competitor. The rule of
three years does not apply to the main competitor.
Suggested Format
The assignment will be structured within a marketing mix
framework, exploring
internal
Chapter 8 - 11
, external
Chapter 12 - 16
and decision-making influences
Chapter 3 - 7
and involves a detailed and in depth analysis of the primary
target market.
Students will be given a detailed scoring sheet as a feedback
mechanism.
The report will culminate in an evaluation of the marketing
strategies employed.
Acquire following background information in terms of-
Start with Table of Contents; do not need to include an
executive summary and an introduction
1.
Market
– Section 1 200 words
- 200 words in a table format
- start with a short paragraph to introduce the brand; followed
by a table; for the main brand; do not need to cover any
information about the competitors
1.1. Size of market, market share, market position, depth and
breadth of product range, company’s principal product (or
3. products) in terms of features and benefits, positioning of the
product, product life cycle stage.
- You do not need to cover all these points above; only some
relevant points
2. Competitors
– Section 2 200 words
2.1
Number of direct
= main competitor that you will compare with the main brand in
the following part of the report
/ indirect
(another competitor; can be any brand that consumers might
consider buying)
competitors, size of competitors, positioning as low cost, niche
players
Start with a small paragraph to introduce these two competitors;
followed by a table (point form) (to compare the 4Ps (a brief
description only)
Somersby
Somersby
Product
e.g. brand image, product attributes in general
e.g. brand image, product attributes in general
Price
e.g. pricing strategy
e.g. pricing strategy
Promotion
e.g. advertising, sales promotion and online marketing etc.
e.g. advertising, sales promotion and online marketing etc.
Place
e.g. online and store retailing
e.g. online and store retailing
4. 3. Identification of Target Market(s):
Section 3 200 Words
For each of the two products (chosen
e.g. Toshiba
and competitor
LG)
identify-
3.1
Will be written for the chosen brand –
Toshiba
and
LG
Who is (are) the
primary (i.e. current)
target market(s) for this product? Describe these segments in
terms of:
-d
emographics
: e.g., subculture, social class, family life cycle stage,
age, gender, occupation, education etc.
-psychographic
: personality,
AIOs, (activities, interest, opinions – Ch. 12) = lifestyle
and/or lifestyle such as VALS2 or geodemographics, etc,
-behavioural
: benefits sought, deal proneness, heavy usage, etc.
Start with a small paragraph; followed by a table (point form);
you need to identify TWO current target segments that the
chosen brand and the main competitor is targeting
5. Toshiba
LG
Current segment 1
Current segment 2
Current segment 1
Current segment 2
Demographics
Age; gender; income
E.g. women, housewives, 25 – 40 years, middle class
E.g. women, working, 25 – 40 years, middle class
Could be very similar to Toshiba
Psychographics
How they live – lifestyle (AIO)
= e.g. convenient lifestyle
Behavioural
Benefits they are looking for - e.g. Latest technology, energy
saving
e.g. favourable attitude toward Korean brand, cheaper
(Benefits)
3.2 Are there any
potential
market segments you would recommend for this product?
Describe these segments as above.
This section may be depicted in a table
6. You need to identify
ONE
potential market segment for e.g. chosen brand Toshiba and
main competitor LG; follow the same format used in 3.1
Toshiba
LG
Potential segment
Potential segment
Potential
Single household
Single household
Demographics
Age; gender; income
Could be very similar to Toshiba
Psychographics
How they live – lifestyle
Behavioural
Benefits they are looking for
Select
one
target segment
profiled in question 3
Section 3.1
from your chosen product that is considered a
primary segment
.
Investigate and discuss
how the following influences impact upon this identified
segment and product/brand.
7. YOU NEED TO CHOOSE ONLY ONE PRIMARY TARGET
SEGMENT (e.g. Toshiba – you have chosen Current Primary
Segment 1 - housewives)
AND STATE CLEARWLY AT THE END OF SECTION 3 THE
CHOICE OF TARGET SEGMENT FOR SECTION 4 TO 8.
THEN YOU MUST WRITE THE FOLLOWING PARTS
BASED ON “Current Primary Segment 1 - housewives”
PRIMARY SEGMENT THAT YOU HAVE CHOSEN
SIMILARLY, YOU WILL ALSO CHOOSE “Current Primary
Segment 1 - housewives” FOR LG as the competitor brand
4. External Influences
Section 4 - you will write this part for the chosen brand (e.g.
Toshiba) – refer to Chapter 12 – 16 600 words +/-
4.1 Culture and Subculture: Are the values upheld in the society
consistent with the consumption of the product? Does the
product appeal to a specific adopter category?
- Culture and Subculture: It must write this part based on
specific types of values – choose at least one of the following:
self-oriented; environment-oriented; other-oriented
(Chapter 16) - you need not cover all the components within
the chosen orientation, you may choose one or two components
only.
- Product appeal to a specific adopter category: Choose one of
the following categories:
innovators, early adopters, early majority
(Chapter 14)
4.2 Demographics: Is there an influence of age, gender,
socioeconomic influences upon consumption?
- Refer to Section 3.1; do not repeat info you have already
covered in 3.1 in this part but answer the question directly
Chapter 12
(DO NOT REPEAT FROM 3.1)
8. 4.3 Group influence: Is there a reference group influence
element on this product category?
- Choose one of the following types:
informational; normative; identification influence
; Chapter 14
5. Internal Influences
Section 5 Chapter 8 – 11; 800 words+/-
5.1 Needs and Motives: How readily is the product positioned to
satisfy different needs or motives? What needs are being met?
(E.g. Maslow’s Hierarchy of Needs)
Chapter 10; Choose at least
ONE type of needs from Maslow’s Hierarchy of Needs
; explain what it is and apply
5.2 Perception: What are the strategic implications of the
process of perception for marketers?
Chapter 8; you need to cover these three stages –
exposure, attention, interpretation
; use an advertisement from online/ traditional source – e.g. can
be TV; YouTube or newspaper; must be shown in Singapore
before; analyse the ad
5.3 Learning: Given the profile of each segment, which
application of learning theories would be most relevant to use in
promotion? E.g.; reasoning versus operant conditioning?
Chapter 9; choose
one
of the following theories –
classical conditioning; operant conditioning; modelling;
reasoning
; explain the theory and apply to the case (how do consumers
learn about e.g. Toshiba)
9. 5.4 Lifestyle- Does the product appeal to a particular lifestyle?
Is the product appropriate for one or more lifestyles?
Chapter 12; explain
AIO – activities, interest, opinions
(choose a few relevant points from AIO table in Chapter 12)
- Refer to Section 3.1 –
do not need to repeat the info here
; explain how lifestyle affects decision making
6. Consumer decision making processes:
Section 6
- Chapter 3 – 7; 600 words +/-
6.1 What
type and amount of information
(
sources of information Chapter 3)
about this product do its consumers use? How
involved
are they
(
low or high involvement
Chapter 3)
? Which
level of decision making
are they in
(
habitual; limited; extended
decision – choose one Chapter 3)
? Would the brand be considered to be part of this segment’s
evoked set
?
(Use a flow chart to indicate how customers choose a brand;
Toshiba is the chosen brand in the
evoked set
; start with a chart and then follow by explanation Chapter 4)
10. 6.2
How do consumers
evaluate
different brands in this product category? Which
evaluative criteria
are possibly used in making a purchase decision?
Identify a few criteria (e.g. price; country of origin) and explain
how consumers go through the choice Chapter 5
Identify a few criteria. E.g. Price, Quality.
Can be very specific. E.g. battery life
DECISION RULE
Choose 1 Rule
Compare with the competitors with the current product we
doing
6.3
How do consumers go about
shopping
for this product?
Chapter 6 identify how people make a purchase choice – choose
one “
brand first; outlet second”; “outlet first; brand second”; or both
6.4
How likely is
post purchase
behaviour likely to occur? If so, how can it be
reduced? Chapter 7; you need to start with the explanation of
satisfaction vs. dissatisfaction; you must explain what you can
do to reduce dissonance when customers are dissatisfied
Satisfaction: repeat purchase, likely to have some as loyal
customer
More customers growing dissatisfied with banks.
11. 6.5 How do consumers
dispose
of this product after its usage?
Chapter 7: suggest how customers can dispose the product (e.g.
recycling) Slide 10.
6.6 Loyalty- Do
potential segments differ in their loyalty
to the existing product? Are brand-loyal purchases encouraged?
How?
REFER TO 3.2: you need to explain how likely this potential
segment (e.g. elderly) would use the product and become a loyal
customer slide 23 chapter 7, at least 2 relationships.
10 general articles at google scholars (MUST BE REAL article,
find from year 2000 onwards)
7. Marketing Strategy
Section 7 600 words; you need to compare the chosen brand
(Toshiba) and the main competitor (LG)
7.1 Compare the marketing approach of
your chosen and a competitor’s product.
On the basis of your research, explain:
- How the firm’s
(Toshiba)
current marketing strategy can account for the product’s
success, and
- How the marketing mix supports a particular positioning
statement
This can be done in terms of comparing:
Marketing mix approach
Product – What characteristics of the physical product and or
12. service appeal to how the product is positioned for each
segment? Is the product considered an innovation? What
characteristics could possibly impede rapid diffusion?
Price – Is price considered an important evaluative criterion?
How readily would this segment respond to price reductions? Is
price relevant as an indicator of status?
Promotion –What values are important for each segment that
can be used in a communication strategy? What media is
currently used? How effective do you believe is this strategy?
Place- Do the different segments have differing requirements of
the distribution system? What type of distribution system is
consistent with the lifestyle(s) of each segment?
Start with a table to compare the 4Ps of the two brands (stated
above – answer as many questions as possible); then use the
information from the table to answer the first two questions
Toshiba
LG
Product
Product – What characteristics of the physical product and or
service appeal to how the product is positioned for each
segment? Is the product considered an innovation? What
characteristics could possibly impede rapid diffusion?
Product – What characteristics of the physical product and or
service appeal to how the product is positioned for each
segment? Is the product considered an innovation? What
characteristics could possibly impede rapid diffusion?
Price
Price – Is price considered an important evaluative criterion?
How readily would this segment respond to price reductions? Is
price relevant as an indicator of status?
13. Price – Is price considered an important evaluative criterion?
How readily would this segment respond to price reductions? Is
price relevant as an indicator of status?
Promotion
Promotion –What values are important for each segment that
can be used in a communication strategy? What media is
currently used? How effective do you believe is this strategy?
Promotion –What values are important for each segment that
can be used in a communication strategy? What media is
currently used? How effective do you believe is this strategy?
Place
Place- Do the different segments have differing requirements of
the distribution system? What type of distribution system is
consistent with the lifestyle(s) of each segment?
Place- Do the different segments have differing requirements of
the distribution system? What type of distribution system is
consistent with the lifestyle(s) of each segment?
Then you may answer / present the two questions
1
st
paragraph: whether the campaign is a success
- How the firm’s
(Toshiba)
current marketing strategy can account for the product’s
success, and
2
nd
paragraph: positioning statement - if the brand does not have a
positioning statement, you need to write one on behalf of them
How the marketing mix supports a particular positioning
statement
8. Evaluation and Recommendations
14. Section 8 700 words +/-
This section of your report should clearly assess each marketer's
application of knowledge of
consumer behaviour theory and principles
investigated in sections 4-6.
Choose
TWO
advertisements. One for the main brand Toshiba (can be the
same that you use under “perception”) and one for the main
competitor LG
Or
Compare
TWO marketing approaches
, but it would be more challenging.
You need to scan the image for submission within the report;
not in the appendices
Choose
TWO theories
(e.g. classical conditioning; reference group) and then compare
these two ads to decide
which ONE
is more effective (at the end of the comparison, you may
suggest the competitor’s ad is more effective)
On the basis of this evaluation, explain which of the two
marketing/advertising campaigns- that of your chosen product
and competitor’s product-the group considers is more effective
in contributing to the overall success of the product. Clearly
discuss and justify your reasons.
The evaluation should also include
future recommendations
for the company
- for the chosen brand only (Toshiba); follow strictly the
following headings;
do not change and add new points
15. product positioning
Marketing mix:
on product (goods and services) enhancements
improved marketing communications
improved purchase experience
identifying potential new customers
enhancing customer satisfaction
9. Conclusion -
100 words
A succinct overview of the report.