mgt104 assignment 3

7/26/2019 MGT104 Assignment 3

1/11

MGT104 ASSIGNMENT 3

Activity Title: Assignment 3

Paper Numberand Title:

MGT104 Introduction to Applied Marketing

Level 5, 15 credits, Version 1

AssessedLearningOutcome:

3

utline !o" situational anal#sis is used to determine

appropriate promotional o$%ectives and target market

"it! re&erence to relevant marketing t!eories and

modes'

Conditions:T!is is a compulsor# assignment' It must $e

su$mitted and makes up 20%o& #our (nal result &or

t!is paper'

T!e completed assignment is to $e su$mitted to #our

&acilitator via )lack$oard $# t!e due date'

An# "ork o& ot!ers suc! as articles, %ournals, t!e

internet or te*t$ooks must $e re&erenced &ollo"ing

t!e latest A+A re&erencing guidelines'

MGT104 Introduction to Applied Marketing, Level 5, Credits 15, ersion

1! "out#ern Institute o$ Tec#nolog 2015


2/11

ASSIGNMENT INSTRUCTIONS

ord count- 1000 . 1500 "ords e*cluding #our re&erencing

/or t!is assignment #ou "ill anal#se t!e Lovel# Linens ase tud# and

ans"er t!e related 2uestions' ou "ill need to su$stantiate #our (ndings

$# re&erring to source materials including #our te*t$ook and tud# Guide'

ou are re2uired to engage in some researc! into t!e t!eories

underpinning situational anal#sis and !o" it is used to determine

promotional o$%ectives and target markets in order to success&ull#

complete t!is assignment'

T!e completion o& a situational anal#sis is an essential part o& amarketing plan'

3'1 sing t!e ase tud# Lovel# Linens6 detail "!at a market anal#sis

involves and "!# "e need to carr# it out' 7iscuss t!e markets t!at Lovel#

Linens are interested in pursuing and !o" t!e# can anal#se t!ese

markets, including in #our ans"er t!e various t#pes o& researc! t!at can

$e conducted'

3'8 omplete an environmental anal#sis &or Lovel# Linens' 9elate t!is to

t!e environment t!e# are currentl# operating in, as "ell as t!e#

environment t!e# are looking to operate in' Make sure #our ans"er

includes 8 valid points &or eac! +:TL: element, "it! e*amples &rom

Lovel# Linens'

3'3 !at are 8 models "e can use to carr# out a competitor anal#sis;

omplete one o& t!ese &or Lovel# Linens'


3/11

Make sure ou read t#e Marking "c#edule (elo) care$ull (e$ore

e*(arking on t#e assign*ent' It )ill give ou clear idea o$ )#at

)e are looking $or in t#e su(*ission'




4/11

Case Study: Lovely Linens

:mma and /loss# !ave $een operating a !ome>$ased $usiness creating

linen &rom :mma6s !ome in Invercargill since t!e start o& t!e (nancial

#ear, 1st April 8004':mma "as $orn and raised in ellington' A&ter leaving sc!ool s!e

em$arked on a 10 #ear career in $anking' !e "orked in man# di?erent

roles t!roug!out t!e countr#' !en s!e returned to Invercargill s!e met

/loss# t!roug! some $ank colleagues'

At t!e age o& 8@ s!e decided it "as time to see t!e "orld' !e travelled to

man# di?erent countries over a period o& a #ear $e&ore returning $ack

!ome to Invercargill' !e decided to take up te*tile studies $ecause s!e

al"a#s !ad an interest in needle"ork'

/loss# "as $orn and raised in Invercargill' n completion o& a marketingdegree &rom Lincoln niversit# /loss# em$arked on a 15 #ear career in

marketing &or various $usinesses in t!e Invercargill region' 7uring t!is

time s!e married and !ad t"o c!ildren' T"o #ears passed and /loss#

$egan to &eel tired o& t!e corporate "orld o& marketing' !e looked &or

somet!ing di?erent to pursue and decided to take a 3 #ear diploma

course in te*tile design in Invercargill'

ver t!e t!ree #ears o& stud#ing &or t!eir diplomas :mma and /loss#

$ecame good &riends'

oon a&ter :mma $ecame &rustrated "it! not $eing a$le to $u# good

linen' !e also remem$ered "!ile travelling overseas t!e ver# poor

2ualit# o& linen' !e came up "it! t!e idea o& designing and making !er

o"n linen and t!ere&ore gave up contract "ork at t!e $ank to pursue t!is

e*citing opportunit#' :mma t!oug!t o& +aci(c Island designs &or pillo"

cases and s!o"ed t!em to &amil# and &riends "!o suggested s!e e*plore

t!e possi$ilit# o& turning t!is idea into a $usiness' :mma6s $anking

e*perience $ecame use&ul as s!e started planning "!at "ould $e

re2uired &or !er to set up s!op'


5/11

:mma and /loss# approac!ed a specialt# department store "it! t!eir

pillo" cases "it! t!e vie" to per!aps selling a &e" sets' T!e store "as

more t!an interested in t!eir linen' T!e# especiall# liked t!e uni2ue

+aci(c moti&s and 2ualit# st#les' T!is resulted in increases in demand'

T!e# "ere some"!at taken $ack "!en t!e# "ere asked to suppl# duvet

covers as t!eir range "as limited to pillo" cases' Bot "anting to miss anopportunit# t!e# agreed, t!en 2uickl# learnt !o" to design and make

duvets covers'

T!e accountant con(rmed t!e# "ere doing "ell at t!is earl# stage $ut

"arned t!em to $e care&ul as t!ere6s a !ig! percentage o& small

$usinesses t!at &ail in t!e (rst t"o #ears o& operation' T!e initial capital

investment o& C80,000 "as used to purc!ase industrial se"ing mac!ines,

&a$ric to make t!e linen and a computer s#stem'

In t!e earl# da#s t!e $usiness re2uired a large amount o& :mma and

/loss#6s time' )et"een t!em t!e# "ere carr#ing out all t!e tasks &romdesigning linen, to se"ing, to selling, to administration' T!is "as taking

its toll on t!eir respective &amil# lives' T!e# needed !elp "it! t!eir

$usiness planning so t!e# "ent to )iDin&o' )iDin&o directed t!em to

)usiness Mentors Be" Eealand "!o put t!em in touc! "it! a $usiness

mentor "!o guided t!em t!roug! structuring and planning t!eir

$usiness' T!e# took on a seamstress to do t!e se"ing and an

administrator to attend to t!e accounting &unctions' T!is le&t :mma and

/loss# time to &ocus on design and marketing t!e $usiness as "ell as time

to spend "it! t!eir &amilies' T!e# also secured a grant &rom Be" Eealand

Trade and :nterprise &or C3,000 to e*plore potential markets in :urope'/loss# !ad some marketing contacts in :urope t!at "ere keen to assist

t!em "it! $reaking into t!e :uropean market'

In Ful# 8005 t!e# took up t!is o?er o& !elp and "ent to :urope to learn all

t!e# needed to kno" a$out t!e market' /loss#6s contact, 7arrin, "as

$ased in Botting


6/11

orders "as an increase to an average o& 150 metres per mont!' !ilst

operating t!e $usiness &rom :mma6s !ome !as "orked "ell, t!ere !ave

$een a &e" tense moments among t!e sta? and partners "!en "orking to

ver# tig!t deadlines' It is inevita$le t!at more sta? "ill need to $e taken

on to meet t!e orders' T!e# !ig! BE dollar is also impacting on costs' T!e

option to manu&acture t!eir products in Asia is $ecoming more attractiveto t!e $ottom line' :mma6s !ome is struggling to accommodate t!e

increased $usiness' :mma !as researc!ed an option to move to a small

&ull# e2uipped "orks!opretail outlet on t!e &ringes on t!e )7' T!is

"ould give t!e $usiness a !ig!er pro(le and a central point to meet "it!

customers etc' !ilst t!e# !ave not e*perienced an# cas! o" di?iculties

to date t!is ma# not $e t!e case in t!e &uture "it! t!e anticipated gro"t!'

T!e# ma# need to consider investing additional cas! to &und t!e gro"t!'

:mma and /loss# !ad completed a $usiness plan "!en t!e# &ormalised

t!e $usiness set up' T!e# !ad also engaged t!e services o& pro&essionals

as and "!en t!e# re2uired' It "as apparent t!at revisiting t!e plan "as

re2uired to ena$le t!em to &ocus on t!e current production and t!e &uture

direction o& t!e $usiness' T!e# are at a stage "!ere t!e# "ould like to

pus! sales to a ma*imum to get t!em settled in t!e ne" $usiness

premises "it! t!e !ig! rental costs and take on &urt!er sta? so t!e# can

$ot! make more use o& t!eir specialist areas' T!at is, /loss# as Marketing

Manager and :mma taking over as +roduction Manager' it! t!e spare

time t!e# !ave t!e# need to t!oroug!l# revie" t!e market so t!e# can

align t!eir resources $est "!ere needed to continue $eing a success in

t!e &uture'




7/11

Marking scedule

Criteria + 0-./ 40-4/ C 50-4 3 5-/ A 0-100

Market

Analsis

6eig#ting

12%

lear

evidence o&

lack o&

understanding

, &ails to

identi

components

o& market

anal#sis

t!eor# or

researc!

procedures'

Lack o&

kno"ledge o&

markets and

poor

understanding

o& ase tud#

application'

nconvincing

evaluation'

+oor

understanding

o& market

anal#sis

t!eor#'

:valuation is

s!allo" and

&ails to

identi

complete

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&or market

researc!'

eak anal#sis

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9easona$le

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least 8

markets

relating to t!e

ase stud#,

s!o"ing

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$asic

understanding

'

omeresearc!

carried out

$e#ond course

materials'

T!oroug! and

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t!eor#,

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anal#se a

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ound anal#sis

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relating to t!e

ase stud#,

s!o"ing

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good

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9esearc!carried out

$e#ond course

materials'

:*ceptional,

insig!t&ul and

compre!ensive

evaluation o&

market anal#sis

t!eor#, including

details o& various

met!ods to anal#se

a market, and

detailing market

researc!

procedures'


8/11

e*amples' carried out

$e#ond course

materials'

9esearc!

carried out

$e#ond course

materials'

In>dept! researc!

carried out $e#ond

course materials'

Co*petito

r Analsis

6eig#ting

12%

lear

evidence o&

lack o&

understanding

, &ails to

identi

t!eoretical

models'

Lack o&

kno"ledge o&

t!eor# and

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o& ase tud#

application'

nconvincing

evaluation

and poor

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understanding

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o& detail or

link to ase

tud#'

eak

evaluation

and lack o&

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anal#sis and

link to target

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ompetent

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tud#'

9easona$le

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anal#sis and

link todetermination

o& target

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ome

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carried out

$e#ond course

materials'

T!oroug! and

compre!ensive

description o&

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:*tremel# !ig!

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understanding iss!o"n o& purpose

o& anal#sis and link

to determination o&

target market'

In>dept! researc!

carried out $e#ond

course materials'

Market

Measure

*ents

6eig#ting

12%

lear

evidence o&

lack o&

understanding

, &ails to

identi

market

measurement

s'

Lack o&

kno"ledge o&

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o& ase tud#

application'

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and poor

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understanding

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s'

+oor

compre!ensio

n is

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Less t!an 3

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understanding

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ome

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Ver# good level

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ase tud#

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insig!t&ul

e*amples'

In>dept! researc!

carried out $e#ond

course materials'




9/11

&roductivi

t7&ro8ta

(ilit

Analsis

6eig#ting

12%

lear

evidence o&

lack o&

understanding

o& productivit#

and

pro(ta$ilit#

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understanding

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and

pro(ta$ilit#

anal#sis'

+oor

compre!ensio

n is

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Less t!an 8

met!ods "it!

incomplete

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e*amples

ompetent

description o&

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'

9easona$le

understanding

is

demonstrated

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to ase tud#

giving 8

relevante*amples'

ome

researc!

carried out

$e#ond course

materials'

T!oroug! and

compre!ensive

description o&

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understanding'

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ase tud#

giving 8

e*cellent

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$e#ond course

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detailed

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e*amples'

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course materials'

Target

Market

6eig#ting

15%

lear

evidence o&

lack o&

understanding

o& targetmarket'

Lack o&

kno"ledge o&

promotional

o$%ectives and

elements'

+oor

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o& ase tud#

application'

nconvincing

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and poor

e*amples'

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understanding

o& target

market'

Less t!an 8promotional

o$%ectives

outlined

s!o"ing poor

level o&

understanding

'

/la"ed

promotional

mi* campaign,

"eak link to

ase stud#'

/la"ed link o&

target market,

promotional

o$%ectives and

promotional

mi* to ase

stud#

organisation'

ompetent

description o&

target market

s!o"ing

reasona$leunderstanding

'

8 promotional

o$%ectives

outlined

s!o"ing

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understanding

'

1 promotional

mi* campaign

outlined

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promotional

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ase tud#

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is s!o"n $#

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3 promotional

o$%ectives

clearl# outlined

"it! good level

o&

understanding

and insig!t'

8 di?erent

promotional

mi* campaigns

outlined

including detail

o& promotional

elements and

clear

description o&

$ene(ts to ase

tud#

organisation'

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understanding

is s!o"n $#

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:*ceptional,

detailed and

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understanding'

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outlined "it!

e*ceptional

understanding and

insig!t'

8 di?erent creative

and inspired

promotional mi*

campaigns

outlined including

detail o&

promotional

elements and clear

description o&

$ene(ts to ase

tud#

organisation'

:*tremel# !ig!

level o&

understanding is

s!o"n $#




10/11

and

evaluation

linking target

market,

promotional

o$%ectives and

promotional

mi* to ase

stud#

organisation'

and evaluation

linking target

market,

promotional

o$%ectives and

promotional

mi* to ase

stud#

organisation'

9esearc!

carried out

$e#ond course

materials'

e*ceptional

anal#sis and

evaluation linking

target market,

promotional

o$%ectives and

promotional mi* to

ase stud#

organisation'

In>dept! researc!

carried out $e#ond

course materials'

9rganisat

ion7 logic

6eig#ting

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Long "inded

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ources are "ell>

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11/11

main te*t' t!e researc!

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list A&A

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More t!an 5

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mgt104 assignment 3

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