Your example should be chosen because it demonstrates ‘success’ in implementing marketing. Select and research a company, brand or non-profit organisation of your choice. Briefly introduce your chosen organisation, explaining why you consider it to be a ‘marketing success story’ (10 marks). Detail and discuss the key factors which led to the marketing success of your chosen organisation. Your answer should show an appreciation of the core theories in this module (e.g. an understanding of the changing marketing environment, segmentation, market positioning and the marketing mix) (60 marks). Building on your success story, evaluate the future challenges facing your chosen organisation, and make two or three recommendations on areas the organisation should address for continuing success (30 marks). The assignment Question 1 This element of the assignment involves setting the context. Select and research a company, brand or non-profit organisation of your choice. Briefly introduce your chosen organisation, explaining why you consider it to be a marketing success story. (10 marks) It is important that you start thinking about which companies (or non-profit organisations) are suitable examples as early as possible. In some respects, this is like the new product development process. You should seek out several options, and then choose which one offers the best opportunity for you to show your knowledge and understanding of the subject area. To choose your brand or organisation, you should start by scanning the business press and other media sources for examples which demonstrate marketing success. Naturally you should also draw on your own knowledge, experience and expertise. After some initial evaluation, you should then narrow down the possible options for your assignment to a shortlist. When evaluating the shortlist, you may wish to consider whether the examples are ‘success stories’ – you will first need to identify why you consider your choice to be a success. Look at the marketing metrics (see Unit 4). Which of the criteria discussed allow you to show the success of your choice? You will need to do research to gather this data. You should seek out relevant materials from the online library. You should also consider some aspects of the marketing environment, e.g. PEST, SWOT, competitor analysis. How have these contributed to the success of the chosen brand? Did the company see a strategic window, for example? How does your organisation’s strategy and/or implementation contribute to its success? Use marketing models and frameworks (segmentation, 4/7 Ps) to structure your analysis, and evaluate whether there is clear evidence of the organisation managing these area/activities. Before selecting your choice of success story, think about whether you can obtain sufficient information and data on your chosen examples. Consider how well the aspects contributing to success can be identified individually (e.g. whether you can gain insights into areas such as the target market and the marketing mix adopted by your shortlisted organisations). After reviewing your shortlist you should be in a position to make a choice of organisation/brand for your assignment. Once you have made your choice you need to build a case for the organisation selected. What makes it a success? Is it sales, profit, distinctiveness, being a market leader? The organisation that forms the basis of your marketing success story is likely to have a marketing orientation, i.e. a deep understanding of and commitment to customers. However, please note sometimes companies are successful without this focus, but this would not then be an example of a marketing success story. An organisation is likely to be deemed a marketing success because it meets/satisfies customer needs, and delivers profit (or meets other goals) for the chosen brand or organisation. You should also consider whether your success story is contemporary. If you chose an organisation which has demonstrated success in the last three years your analysis will have more resonance with the current marketing environment. This first question is worth 10 marks. So, it needs to be clear, compact, but convincing. This is the foundation for your assignment. A strong foundation will enable you to build a stronger case for your success story. Question 2 Detail and discuss the key factors which have led to the marketing success of your chosen organisation. Your answer should show an appreciation of the core theories in this module (e.g. an understanding of the changing marketing environment, segmentation, market positioning and the marketing mix). The following section outlines the various issues you may wish to consider when answering this part of the assignment. Environmental analysis: as previously indicated there is a clear relationship between changes to the external environment in which an organisation operates and the needs of the market. Marketing success can in part be attributed to identifying and responding to changes in the external environment and the subsequent market needs. When tackling this question, you should evaluate the changes in the environment in which your chosen organisation operates (PESTEL analysis may come in useful) and how your brand or organisation has taken the environment into account when developing its marketing strategy. You should use market data, literature and research sources to support your discussion on the nature of the environment the organisation operates in and the needs of the market. To help answer this part of the question you may wish to consult a number of the library databases (e.g. Euromonitor Passport, Key Note, MarketLine Advantage, Thomson Research). Buying behaviour: your assignment should consider how customers make buying decisions. This could include: a) the type of buying decision (e.g. low or high involvement, new task or repeat purchase, etc.,); b) the steps in the buying process; c) the cues customers respond to; d) the criteria used when evaluating options; and e) the social aspects of buying (e.g. who else contributes to the purchase decision partners – friends or other departments within an organisation). A good starting point is with some desk-based research (e.g. consulting relevant newspaper articles, trade publications, internet sources, academic papers, databases). You can undertake a mini-research activity, with a survey, a focus group or even through observing people buying/engaging with your selected product. Please note, original data collection is not a requirement of the assignment, but it may add depth to your work. Competitor analysis: marketing does not take place in a vacuum and so you may wish to consider: a) what is the nature of the competitive environment the organisation faces; b) what competitive changes/trends have helped or hindered your chosen brand or organisation; and c) how well has the organisation/brand recognised and dealt with any changes to the competitive environment in which it operates? Have changes in the competitive environment the brand or organisation opened an entirely new opportunity – sometimes called a white space or a blue ocean. Alternatively, has the organisation implemented more modest (incremental) changes to enable the organisation to do something different/better than its competitors (or even both)? (60 marks) You also need to consider the strengths the organisation possesses and the opportunities the organisation has been able to exploit. Remember that these come from the SWOT analysis. Strengths and weaknesses are controllable factors; opportunities and threats come from the changing environment, so SWOT and 5 forces give substance to your assessment. How well did the organisation read this situation? Did it see the potential well? What threats did the organisation/brand face and how were these threats managed? Remember that it is your responsibility to explain.