What to include:
Cover page
Table of content
Executive summary
Introduction (around 250 words)
Findings
Comparison of target market (around 200 words)
Product – Evaluation of the Products and their Brand Values (around 250 words).
Price – Evaluation of the Pricing Strategies Used (around 200 words).
Place – distribution of the Brands (around 200 words).
Promotion – communications by the Brands (around 200 words).
Conclusion and recommendations (around 200 words)
Reference list (not part of total word count).
Appendices (not part of total word count) (not compulsory).
How to go about your assignment which is due on 22th June 2023 – 2pm.
Executive summary (not more than 1 page).
Appears first but should be written last.
What is the report about? I.e., what did you do?
How did you do it?
What are your conclusions, and what did you recommend for the organizations?
Introduction (not more than 250 words)
In one line, mention why companies do marketing activities. For instance, one essence of marketing is to enable organisations to connect customers to their products (https://www.researchgate.net/profile/Jochen-Wirtz/publication/239261685_The_Role_of_Marketing_in_Todays%27_Enterprises/links/544865400cf22b3c14e30ea8/The-Role-of-Marketing-in-Todays-Enterprises.pdf?origin=publication_detail).
To ensure a profitable connection between the organisation and its products, an organisation needs to sell the right products to customers, at the right price in the right place, using the right promotions.
Organizations also need to target the right audience. Why? (Use literature to explain in one line).
Then finish your introduction by discussing what this report is about. E.g., this report details the target audience of 2 competing brands – Lucozade energy drink and Red Bull energy drink.
Talk briefly about the two brands – mention their market share and market size (use literature to support these facts).
Also mention that the report also assesses how the two organisations apply the 4p’s of marketing in their marketing operations.
Findings
Comparison of target market (around 200 words)
Who is the ideal customer for brand A, and who is the ideal customer for brand B? I.e., who are they targeting? Which age, gender, social class etc.?
Note – you can say something like ‘while Lucozade energy drinks target lower class people aged between 15 and 20, Red Bull energy drinks target high earners with high disposable income and aged between 27 and 40.
For this part, make sure that you use things like age, gender, personal disposable income, social class, level of education, family life cycle, and lifestyles to describe the target market of each company.
For instance, is company A targeting people who are looking to improve their health? Or people who are only after leisure or fun? Last week, we looked into ‘buyer persona’. What is the buyer persona for each brand that you are looking at?
Product – Evaluation of the Products and their Brand Values (around 250 words).
What are the major benefits of the products of brand A and what are the major benefits of the products of brand B? E.g., what are the benefits of Red Bull energy drinks as compared to Lucozade energy drink?
What do customers expect when they buy the products? You can get these answers by reading customer reviews on the products (take a screenshot). You can also get the answer for this by understanding what the company promises. For example, Red Bull promises customers ‘increase performance, concentration, reaction speed, vigilance, and even well-being’. These are the things that customers expect when they buy the product.
What additional benefits does product A have compared to product B? E.g., does one have health benefits while the other does not?
(https://www.cgma.org/resources/tools/cost-transformation-model/kotlers-five-product-level-model.html)
How is the product packaged? Is one product’s colour bright and sparkling and attractive while the other is dull? Is one packaged in an environmentally friendly way while the other is not? Or are they both packaged in an environmentally friendly manner?
What is the personality of each brand? Is the brand exciting, or rugged, or sincere?
What are the values of the brand? Do the brands have values which include ‘people, ideas and culture’? How do they show these values in their activities?
Price – Evaluation of the Pricing Strategies Used (around 200 words).
Compare competing products and show the results in a table.
Red Bull products include Red Bull Sugar free – how much is it? Red Bull Energy drink – how much is it?
Lucozade includes Lucozade sports drink, Lucozade energy.
Put the prices of products in a table and determine how the organisations price their products.
Do they use premium pricing or market-based pricing or are they cost leaders etc?
Place – distribution of the Brands (around 200 words).
Where is the product available and what does this say about the value of the brand?
Is the product available online and in-stores? Give examples of some of the stores that have it.
For example, is the product only available in 2 stores all over the country or is it available in every supermarket across the country.
If the brand is only available in a few stores, then you know that it is a luxury brand, whereas if it is available everywhere, it could be an easy to find, cheap, affordable good.
Promotion – communications by the Brands (around 200 words).
How do they communicate with customers? Social media? Is this ideal when you think about their target customers? Do their target customers use social media?
Celebrity endorsement? Is this ideal for the customers that they are targeting? Use literature to support your answers.
Conclusion and recommendations (around 200 words)
Based on your knowledge of the application of the 4P’s (and based on target demographics, attempted brand positioning), which brand has applied the 4ps better?
Reference list (not part of your word count).
Appendices (not part of total word count)
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