6023MKT 2425JanMay CW2 Suggestions and Recommendations Document
From the CW2 brief:
Module Code: 6023MKT
Assignment Title: Individual Report
Assignment Due: 31/03/2025 by 18:00 UK time
Assignment Credit: 10 credits
Word Count (or equivalent): 2,000 words +/- 10%
Assignment Task
Scenario:
You had been working for three years in the marketing team for a company which creates mobile phones for both the European and Asian markets, which was taken over by a global private equity firm. You wrote a report on the past performance and the current situation (in CW1)*. Based on that (CW1)*, the new owner now wants to understand your marketing plans for the company’s future.
The Task:
You need to write another marketing report of 2,000 words explaining your marketing plans for the company, based on your past performance and current situation (in CW1)*. Using a range of marketing planning and strategic marketing concepts (learned during the module) you are expected to design a viable strategic marketing plan for a period of up to 6 years.
In this task, the data from the marketing simulation game (CESIM) will be of high importance.
STRUCTURE OF THE REPORT:
· Current situation of the business with a summary of your team’s performance.
· Marketing Plan for the future:
o A set of appropriate objectives (SMART objectives).
o A set of marketing strategies that you plan to adopt to meet those objectives.
o A range of marketing mix tactics that you will use to implement those strategies.
o A quantifiable set of planning and implementation controls (e.g., key performance indicators).
o A quantitative forecast (including unit sales, revenues, costs and profits).
· Supporting evidence for the marketing plan.
· Acknowledgement of use of AI (if any)
· List of References (not included in the word count)
* In CW1 You had been working for three years in the marketing team for a company which creates mobile phones for both the European and Asian markets. Your company was taken over by a global private equity firm. The new owner wanted to understand your performance during the last three years. You needed to write a marketing report, reviewing your past performance and current situation. You needed to use a range of marketing planning methods (learned during the module) to analyse your team’s marketing and financial performance and assess the team’s current market situation.
This assessment is categorised as AMBER for the use of AI, which means use of certain AI tools and approaches can, but not must, be used to assist the development of an assessment.
You may use AI for the following only:
· Inspiration: using AI tools to generate research questions or topic.
· Planning and management: using AI tools to suggest a title, structure, subheadings, or themes, to generate templates, to suggest processes for task management, or to generate prompts to assist thinking through assessment structure or task management.
· Sources and data collection: using AI tools to suggest sources.
· Summarising and consolidating notes: using AI tools to summarise notes or to consolidate notes.
· Translation: using AI tools to translate small sections of your written or recorded work into the language(s) used in an assignment
· Presentation: using AI tools to present data in an accessible format such as by generating, graphs, charts, tables, slides, images, word-clouds, animations, or captions.
· Checking: using AI tools to proofread work.
Where permitted, any assistance/content generated by AI is not your own work and must be acknowledged within your work (see submission instructions below). Failure to do so is academic misconduct.
Submission Instructions:
· The assessment must be submitted by 06:00 PM (UK time) on 31/03/2025. No paper copies are required. You can access the submission link through Aula.
· Include a cover page with module code and student ID.
· Please ensure that you have submitted your work using the correct file format, unreadable files will receive a mark of zero. The Faculty accepts Microsoft Word document only. PDF files will not be accepted.
· Your coursework will be given a zero mark if you do not submit a copy through Turnitin/handin. Please take care to ensure that you have fully submitted your work.
· All work submitted after the submission deadline without a valid and approved reason (see below) will be given a mark of zero.
· You need to acknowledge how you have used any AI tool by inserting a table as per the example below before your list of references:
|
Tool |
How used in this assignment |
|
e.g. ChatGPT-3.5 |
Suggestions of topics |
|
e.g. Microsoft Copilot |
Consolidating notes |
|
Etc. |
|
DETAILED OVERVIEW OF THE CW2 TASKS:
A) General Tips for writing the CW2 document:
è You had been working for three years in the marketing team for a company which creates mobile phones for both the European and Asian markets, which was taken over by a global private equity firm…….
o Consider yourself to be at the end of the 3rd year mark, about to start on the 4th year
o Use the 4th, 5th and 6th CESIM round data as forecasting data, since you are at the end of the 3rd year mark
è ……….. you are expected to design a viable strategic marketing plan for a period of up to 6 years.
è Use the simulation game platform contents and results as a guide and forecasting tool, and add to these components using theories and practical insights, to explain what the business will actually do in year 4, 5 and 6 while writing CW2. So in some sections focus on current results, in other sections of the CW think of what more to add to these results – remember, this CW is about planning. For example,
1) Using already existing information from CESIM and making it better: You may focus on the existing CESIM segmented groups of households, companies, high end households, high end companies, but also try to bring in other segmentation bases to further refine this. For example you may incorporate gender and age groups within these already existing 4 groups on CESIM to make the segmentation more detailed (link the ideas back to the objectives, mission vision etc, - they all need to be linked). You may incorporate other segmentation bases like psychographic into the mix, but please don’t make the market too segmented. Regarding targeting, think of which of these segments will be targeted when (any targeting plan), and with what features/benefits, etc. Positioning – remember to include a positioning map where you place your company with other competitors + think of competitive advantage strategies.
2) Using already existing results from CESIM, and suggesting what more will be done to push the company beyond the forecasted sales/share price/profits as seen for years 4-6 results – REMEMBER, YOU WILL LIKELY SET UP OBJECTIVES AND STRATEGIES THAT WILL REFLECT GROWTH AND ACHIEVEMENT BEYOND THE CESIM RESULTS, SO YOUR METHODS/SUGGESTIONS TO PUSH THE COMPANY BEYOND THE FORECASTED RESULTS WILL NEED TO BE IN LINE WITH THESE OBJECTIVES/STRATEGIES, ETC.:
a. …………..The product sales for year 6 for the European and Asian markets have been presented in Fig 4 and Fig 5 below. Overall, the approach we undertake will foster an effective balance between risks and rewards while leveraging the key strengths of our company to achieve long-term sustainable growth. To further enhance this approach we aim to………..
b. ………….. In periods 5 and 6, our company will focus on identifying the key errors in forecasting and performance in its cash cow products to further promote their growth, which will likely lead to substantial long-term growth in sales and profitability of our smartphone company (Harris & Aldermann, 2022). à Applying BCG Matrix to the products and providing citations as well…………
c. BCG matrix applications: Based on this analysis, we have identified our sports model as a "star" product with a very high growth potential and market share rate (provide the data). To improve this further, and to maintain its growth and market share, we plan to allocate more resources to this product, for instance, we will….............It seems that our budget model can be considered a "cash cow" product, since it has a high market share but low market growth potential. Our plan is to maintain its market share and minimise the costs to be incurred, and to do this we plan to incorporate the following strategies…………………
è IN GENERAL - Examine the forecasted results from CESIM both the good, and the bad/mistakes made. Your discussion needs to reflect your focus on these good aspects and steps to resolve the mistakes.
B) Tips for each section of CW2:
è Current situation of business and summary of past performance –
You need to reflect on the CW1 content, draw ideas from there, and provide evidence from CESIM. Cite and justify appropriately. REMEMBER – DO NOT COPY/PASTE FROM CW1
è Marketing plan for the future:
A set of appropriate objectives (SMART objectives):
Please use the SMART goals/objectives framework to set up the required objectives. The framework could be used to give structure and guidance to the development of your objectives – see below
Provide the mission and vision (statements)
Medium-term corporate, marketing and financial objectives – the difference between them should be clear
Search for these objectives keywords in each of the core textbooks recommended to you.
Search for related keywords on scholar/locate
Corporate objectives could be – to increase dominance and improve position in the market, increase operational effectiveness etc. find out more………
Marketing objectives could be – product innovations to be undertaken, STP segmentation expansions, 4P’s strategies enhancement/modification/adaptations. Find out others…..
Financial objectives – could be revenue growth (%), profitability improvements (%), sales growth, etc. find out others….
The above objectives need to be tailored to your company’s context and will depend on your company’s current situation and past performance. So the example objectives mentioned above may or may not apply, so you need to find out other objectives, do more research on these……..
A set of marketing strategies that you plan to adopt to meet these objectives
Strategies for growth and STP strategies:
Growth – please ensure you apply the following models/tools for determining strategy: Ansoffs Matrix, BCG matrix, think of others……
STP – please discuss the segmentation strategies, targeting approaches and positioning strategies (along with positioning/perceptual map) clearly – should go beyond what CESIM suggests.
For growth and STP - Tools may include, but are not limited to: Ansoff Matrix, BCG Matrix, Segmentation models and Positioning Maps.
A range of marketing mix tactics that you will use to implement the above strategies:
Marketing mix tactics:
To achieve the identified corporate, marketing and financial objectives for attaining…….. mission/vision……… in the next three years, company Red will implement the following marketing mix tactics for the next three years ………………. :
Product – what changes or new introductions? Link with STP and positioning? Mention the right PRODUCT STRATEGIES to be adopted (check marketing management textbooks for these strategies)
Same goes for pricing, promotion and place – what specific pricing, promotional, place strategies to be adopted (again check marketing management textbooks for these strategies)
Finally discuss how the above 4P’s tactics will help with optimal positioning compared to competitors.
A quantifiable set of planning and implementation controls – key performance indicators, service quality control, CSR pledges
KPI:
For identifying KPI’s – search on scholar with keywords like: "marketing" "Key performance indicators" "technology" OR "marketing" "Key performance indicators" "smartphone" OR "marketing" "Key performance indicators" OR "marketing metrics" "Key performance indicators" + CHECK CHAPTER 23 implementing strategies, internal marketing relationships and measuring performance from the book “MARKETING CONCEPTS AND STRATEGIES” by Dibb et. al.. + Check other books
Some of the KPI examples are below:
Market Share Growth: Achieve a 10% increase in market share in the high-end household………and
high-end………in European and Asian markets over the next three years………… (explain more)
Enhancement of Operational Efficiency: Reduce fixed expenses by % and …... (expand)
Product Innovation: Introduce three new or improved products……. to the following markets (expand)
Expansion of Market Segmentation: Identify and target updated consumer segments………. (expand)
Revenue Growth: Achieve a % CAGR over the next three years……..
Increase profits: Increase net profit by % by undertaking………
FIND OUT MORE/OTHER KPI’s
Service Quality controls:
Search for “service quality” inside the recommended textbooks – there are many chapters from different books covering this. + search on scholar: "service" "quality" OR "service" "quality" "control" OR "service" "quality" "smartphone"
Some service quality controls examples:
Product quality – what types of quality control procedures to be applied for products and repairs?
After sales services quality – warranty details, other customer care approaches
Customer satisfaction – how to measure? Discuss
Think of other factors
CSR Pledges:
Factors could be ethical supply chain, employee welfare, sustainable practices, helping disadvantaged/vulnerable groups……..FIND OUT OTHERS
Search for Sustainable Development Goals, and use related search terms on scholar.
A quantitative forecast (including unit sales, revenues, costs, and profits):
Forecast:
Discuss what the company can achieve in terms of % for sales, repair sales, reduction of costs, revenues, profits, etc. JUSTIFY. If you are introducing new products, or making significant changes to them etc, there will be more costs involved, overall costs will increase, advertising costs, channel investments, costs for warranty, repair, R&D, income tax etc will increase. Indicate to what extent (%) they may increase and why? JUSTIFY. Then explain how will you manage such rise in costs. JUSTIFY
THINK OF OTHER FORECASTING FACTORS
These should link clearly to the plans, objectives and KPIs set up earlier
Provide supporting evidence for the marketing plan – CESIM data/results + journal articles, books, chapters, industry reports from STATISTA, MINTEL, EUROMONITOR PASSPORT etc., company reports, and newspaper articles.
Overall:
There must be a clear link between the objective you set, your mission and vision, the strategies you propose (growth and STP strategies), and the marketing mix tactics you propose. The marketing mix (4P’s) tactics should be set in a way that enables you to achieve your objectives, fulfil your mission and vision, help you achieve the desired growth, and also cater to the segment needs (STP that you applied)
DO NOT COPY PASTE INFORMATION FROM CW1. You cant paste the same SWOT, PESTEL analysis information here. REMEMBER, CW1 was linked to planning period 1 to 3, this CW2 should focus on periods 4 to 6.