Assessment Task 2: Marketing Strategy Audit (Situational Analysis) Type: Individual Project Work Description: Report Writing Learning Outcome Measured: 1, 2, 3, 4, & 5 Total Marks: 30 Weighting: 30% Due Date: Week 11 Word Length (if applicable): The main body of the report, excluding title page, executive summary, table of contents, tables, figures, list of references, and appendices, must not exceed 2,500 words (+/-10%). Use only Times New Roman font; 12-points font-size; 1.5 points line-spacing; and 2.5 cm margin on all sides of the pages. Hand in to: Lecturer (Via TurnitIn, email, and also a hard copy) Turn-it-in Submission required by: Week 11
ASSIGNMENT BRIEF AND REQUIREMENTS Assume that you are the new Marketing Manager of a ‘real-world’ company that operates in UAE or MENA region and provides a key product or service that has been customized, adapted, or localized specifically to suit the MENA/UAE market; or is specifically produced locally in the UAE for the Arab market only. You have been asked to familiarise yourself with the corporate objectives of the organisation, and t o contribute towards the marketing strategies for achieving those corporate objectives for a specific product of the company. The focus of this assignment is on the steps preceding the formulation of the marketing strategies in a Marketing Plan – namely Situational Analysis and Marketing Audit. YOU MUST CHOOSE A COMPANY FROM THE LIST OF COMPANIES PROVIDED BY THE LECTURER. Email the lecturer before the first class with your chosen company in order to obtain official approval of your choice, and to avoid duplication of work within the class. FIRST TO SELECT A COMPANY, FIRST TO BE APPROVED. NOTE: The aim of the report is not to persuade the reader on how great the organisation you chose is. Rather, it is to show how you can very critically evaluate the organizatio market situation and market performance in the recent past years; and then recommend strategies for going forward in the next years.
Task 1: Analyse the context and environments in which your organisation operates. Quantify and explain the implications of the trends identified. The environment refers to the macroenvironmental forces impacting on the industry, namely, political, economic, social, technological, environmental, and legal factors/dimensions (PESTEL analysis). Contexts normally associated with macro-environment analysis include a company looking at industry trends; a business looking at product trends driven by consumer preference; evaluation of a brands market position relative to competition; a geographically defined business such as the subsidiary of an overseas company; a company needing to identify opportunities for entering a foreign market; and a business seeking to identify opportunities and threats in acquiring another company. To quantify the trends identified, use impact-weights for each PESTEL factor by rating s marketing operations. Use a positive-negative scale to rate your assessment of each factor in order to better explain its impact. Rate each factor with impact-weights of -4 to +4, with the maximum possible sum of the 6 factors being 24 (i.e., 4 x 6). Derive a final index for the overall impact of PESTEL on your company by dividing the sum of the 6 ratings with 24. The decision rule is that the overall macro-environment in which a company operates is favourable if its composite PESTEL index is greater than 0.45 (i.e., > 0.45).
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Task 2: Provide a brief overview of the organisation in terms of what it markets; analyze its mission statement; and how its history has shaped the organisation s development of core competencies. Review the organization s performance in the last few years from both financial and marketing perspectives. Then, identify and evaluate the organization s present marketing goals and objectives.
Task 3: Using the Pyramid of Corporate Social Responsibility, examine the social responsibility and marketing ethics issues that are relevant for the company and the chosen product. How effectively has the company addressed the issues? What could they be doing better?
Task 4: Define the core target profile the organization s key target market for the specific product you chose. What are their needs and benefits sought? Identify the major competitors and their characteristics in terms of size, growth, market share, profitability and marketing capabilities. What factors have contributed to their success or decline? What are their major strengths and weaknesses? What is the organisations competitive strategy within the market? Are they a market leader, follower, or niche? Discuss the implications of their position.
Task 5: Identify the critical success factors within the market. What things must be done exceptionally well in order to succeed in the industry? What factors could cause organizations in the industry to underperform? What is the organisations position with respect to the critical success factors? Conduct a SWOT analysis and explain the key points. Then, assess whether the organisation has the strengths to capitalize on the opportunities. Are there threats which the organisation needs to address? Does the organisation need to turn any weaknesses into strengths? How realistic are the organisations marketing objectives, given the anticipated environment, including the actions of competitors and the organisation s core competencies? Evaluate the organisations existing value proposition. What relevant marketing issues face the organisation?
Task 6: How does the company want the specific chosen product and its associated brand to be perceived by its target market when compared to its major competitors? How does the target market actually perceive the selected company’s product and its associated brand with respect to competition? How strong, favourable, and unique are the brand associations? Present and explain both a positioning map and a perceptual map to show the position where the company wants the product to be perceived, and also where the product actually stands in the market compared to competition. Include a positioning statement.
Expectations about the Research to Address the Assignment Questions: Complete this assignment using material from textbooks, journal articles, lecture notes, case studies, your knowledge/experience about the organization /market, and other sources such as newspapers, magazines, and websites. You may conduct informal observation or discussions with friends and relatives who know about the company and product you have chosen. However, no formal/official primary data collection research is necessary for this class work. You must acknowledge all sources of any information and ideas which are not your own as in-work citations and also in a list of references at the end of your report. Please place tables, charts, graphs, pictures, histograms, and matrices in the appendix section.
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Your report MUST include of the following:
1. A Well-designed Title/Cover Page (different from the UOWD assignment submission sheet). Immediately following the assignment submission sheet should be the well-designed title/cover page. The designed title/cover page must consist of a report title, company and brand logos, any other illustration you would like to include, and the date of submission.
2. Executive Summary (1 page, and on a separate page of the report before the Table of Contents page).
3. Table of Contents (on a separate page of the report). Include a table of contents with headings, sub-headings, and page numbers.
4. Introduction (1/2 page); the introduction should introduce all aspects of the report questions and preview the content of the report. Specifically, the introduction should include: (a) general lead-in information about the report topic including why you chose this company and product for your assignment, by way of providing rational (e.g., market share, profit, new product, most advertised product) and other reasons for your selection of the product; (b) a statement of the main aim(s) and objective(s); (c) method(s) of approach; (d) indications of the scope and limitations of the report; (e) a preview of material presented in the body of the report.
5. Analysis (main body of the report) containing subtitles and subsections of the main analyses of all the 6 tasks mentioned above on page 7, including detailed discussions of your findings and inferences.
6. Conclusions (1/2 page) – Conclusions are quite often read by managers before the main text of the report and hence should be your clear summary of the main points of your findings.
7. Recommendations should consist of your own suggestions as to what the company should improve going forward; the strategies you think they should adopt; the things you think they should stop doing; and other things you believe they should start doing to improve and strengthen their competitive advantage over competition in the market.
MARKING CRITERIA The marks you obtain will depend on the extent to which:
1. You are able to demonstrate your understanding of relevant concepts and your ability to apply the concepts in your recommended solutions to the problems posed. 2. You are able to constructively critique the companys marketing situation. 3. The opinions you express are clear and supported by concise, creative, and logical arguments grounded upon sound theory). 4. The report is easy to read and understand, with a layout that allows the reader to easily grasp the sense, direction, and objectives of the work. 5. The report is evidently based on research, broadly and skillfully made from varied sources (Journal articles, industry publications, magazines, websites, newspapers, informal interviews, etc.). 6. Harvard referencing style is used accurately and consistently in your in-work citations and in presenting your list of references at the end of the report. 7. The report is visually striking and appealing, as a well-designed package.