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MKTG7501
Assessment 2 Guidelines –STP evaluation report
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Weight: 40% Submission: Word document (.docx is preferable) Word limit: 2,000 words maximum. Any content submitted beyond the limit is ineligible for marking. Referencing: APA (6th or 7th)
Scenario: Your team will conduct an analysis of a brand in Assessment 2 to understand and evaluate the segmenting, targeting, and positioning strategy of a firm. You will use this knowledge as a basis for your individual task in A3.
Your team should approach the task as though you’ve been hired to provide marketing consultancy services to an external company. You are to work through the identified topics, addressing all areas in the written report. You should provide relevant evidence and theory, evaluating company’s current strategies. The basic overview includes an introduction, followed by a detailed evaluation of the current segmentation, targeting and positioning of the offering, including the development of a customer persona and positioning statement that illustrates the firm’s current target and position.
The aim of this assessment is to increase learner knowledge of segmenting, targeting and positioning and the importance of having this strategic direction when executing a marketing mix. To perform well, learners will need to actively participate in all class activities, as well as complete the assigned readings each week. Learners will also need to conduct research into relevant theory, as well as researching the marketing and industry evidence. Evaluation is a crucial component of this task, using theory to support conclusions.
The case for this semester is Bose SoundLink Micro Bluetooth® speaker
You are expected to extend your research by identifying, analysing and evaluating further evidence of the company’s marketing and exploring industry reports of influence. Further, the application of evidence against theoretical foundations and frameworks are imperative for completing this assessment.
Teams Teams will consist of 4-6 team members (who will work together throughout the semester in tutorials). Teams will be randomly assigned by the teaching team at the start of the semester. Students who do not attend tutorials or contribute to the team may be reassigned at the discretion of the teaching team or may be required to complete the task individually. A team contract will be submitted in Week 5 and peer evaluation will be performed. Individual contributions of all team members should be monitored weekly and proactive issues management should be implemented. If there are any issues in the team, a group issues management form must be completed and submitted to address concerns. If no forms are submitted, grades will remain consistent for all team members. It is up to all team members to proactively contribute and also to proactively manage issues (with support of the teaching team).
Report requirements The report should begin with a theoretical discussion of STP before exploring a full STP evaluation, working through the content from each topic, evaluating the current evidence to determine the effectiveness of the strategy, with support from theory. Please note this is a team assessment, so this report will be developed with contribution from all team members. Please ensure you consult the marking criteria for full details of expectations. Notably, teams will not just list evidence but will consider and evaluate.
The report should follow the template provided (additional subheadings can be added) and be a maximum of 2,000 words, excluding reference list (everything else including tables, figures, heading, captions, etc are included in the word count). There are no appendices for this task, so all content must fit into the word limit. You do not need to add a cover sheet.
APA 6th or 7th Referencing is required (use the Library style guide). The report should include a mix of quality peer reviewed scholarly sources to discuss theory, industry reports to establish the context, and websites which host firm details and competitor insights. There is no specific number of sources required. Reports which do not include evidence and theory will lack rigour and will not perform well.
Where should I start? This report requires in-depth analysis and evaluation which takes time. Please start this early so you have time to thoroughly work through all areas. There are many places to start but some ideas for you include… Ensure you’ve watched the approach to assessment video in the Assessment folder Watch the A2 overview video – in A2 folder Start to conduct some of your own research to find evidence of the brand (check their website and other online evidence) Watch the library video on how to conduct research – accessed via Library Guide Look at industry reports and some possible statistics, accessed via Library (the Library Guide details how to locate these and they are essential) Look up scholarly articles about the topics. You can start in your textbook and can conduct further key word research in the library, and follow leads from the textbook. Activities developed in tutorials give you important information on how to apply theory to practice. Active participation on these activities facilitates the replication of knowledge in your assessment.
Other important guidelines • This evaluation is in relation to the Australian market only. • The full report must be submitted electronically through the Blackboard. All teams MUST follow the specific submission instructions and the template provided. • References should be included for ALL works used – don’t forget information relating to the company, any theory, industry, trade, competitors and news materials. • Under no circumstances should students contact the business involved. Penalties will apply. We are not interested in the firm’s perspective, we are looking for your analysis and learning so there are no advantages to contacting the firm, rather it will be detrimental.
Format: • Line spacing 1.5, font Arial, font size 11pt, standard margins (use the template) • The word count includes ALL content (except reference list). Any tables/figure/captions are all included. Therefore, it is your task to prioritise which information is critical and which is not. Any content over the maximum word limit provided will not be assessed and penalties will apply. • Make sure your reference list follows APA 6 (or 7), specifically in alphabetical order.
A template document has been provided for you to complete. Working with the template, the following identifies the specific analysis expected within the template.
Where you are asked to ‘identify’ this involves reviewing the evidence from market, then considering and analysing the evidence and theory to determining the most logically aligned conclusions. You need to explain how you come to the conclusion, not just list it.
Template Explained Remember, for all elements of this report – this is not a new proposal but your informed view of their current approach.
Introduction • Brief introduction to the report, company and examination of the market (background) • Examination of STP theory of relevance (identifying the role of STP in developing marketing mix strategy)
Segmentation • Use all bases of segmentation (demographic, psychographic, geographic, behavioural) to detail the segmentation of the current market • Identify which variables your team believes are the most meaningful for this offering, with justification aligned to theory
Targeting • Identify which target market strategy (mass, segmented, niche, local, individual) your team perceives the firm to be executing, with justification aligned to theory • Develop a customer persona, explaining why the characteristics (and this particular individual) is of attractiveness to the firm
Positioning • Identify the current position your team believes is being used (noting any competitive advantage [points of difference]), with justification aligned to theory • Include a perceptual map, identifying close competitors and using relevant attributes
Conclusion • Develop a positioning statement that illustrates the firms target and position, with justification • Brief final note.
Reference list • Follow the APA guide from the library (APA 6th or 7th)
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Criteria Exceptional Advanced Proficient Functional Unsatisfactory Background 5 marks Highly concise discussions, expertly identifying all essential company and industry information/evidence of relevance to marketing strategy. Well detailed discussions, accurately identifying most essential company and industry information/evidence of relevance to marketing strategy but with potential for more precision. Relevant discussions, mostly accurately identifying company and industry information/evidence of relevance to marketing strategy but with potential for more specific evidence and precision. A broadly relevant discussion, identifying company and some industry information/evidence but not comprehensive and with less precise detail and/or minor inaccuracies. A vague discussion, limited ability to identify company and industry information/evidence of relevance to marketing strategy with major inaccuracies and/or lacking essential specific detail. STP theory 10 marks Highly detailed justification of the importance of STP to marketing mix strategy, expertly examining highly relevant and specific theory and precise frameworks to convincingly articulate the role of STP. Well detailed justification of the importance of STP to marketing mix strategy, accurately examining specific theory and precise frameworks to convincingly articulate the role of STP. A relevant examination of the importance of STP to marketing mix strategy, accurately examining theory and frameworks to articulate the role of STP, but with less precision at times.