MKT4001 Principles of Marketing And Management

Question:

As part of the formal assessment for the programme you are required to submit a Principles of Marketing assignment. Please refer to your Student Handbook for full details of the programme assessment scheme and general information on preparing and submitting assignments.

Learning Outcomes:

After completing the module, you should be able to:

  1. Explain the marketing process, with particular reference marketing audits, orientation, environmental analysis, marketing planning
  2. Distinguish the contribution of the elements of the extended marketing mix to effective marketing planning
  3. Use the concepts of segmentation, targeting and positioning to respond to marketing problems
  4. Apply the marketing mix in selected situations.
  5. Show situational awareness when applying the extended marketing mix.

Electric Vehicle – consumer adoption

For any car brand looking to increase the proportion of electric and hybrid cars sold, consider how the principles of marketing detailed in the tasks below would apply to the marketing of electric vehicles (EV).

Section 1 – Marketing Environment and Planning Process

  1. Explain the components of the marketing planning process in terms of EV marketing, with particular reference to the role/importance of adopting a marketing orientation and its application to the EV business.
  2. Carry out an environmental audit in the form of a PESTEL analysis for EV market ensuring that you detail specific market/organisational related facts that are fully referenced where possible. Additionally, you should highlight relevant microenvironmental aspects such as dominant competitors within the industry and recent competitor activity.
  3. Outline* the extended marketing mix 7Ps and explain how the development of the extended marketing mix could contribute to effective marketing planning for the new concept.

A fully detailed marketing mix analysis on EV’s is NOT required here – that is required in Section 3 here you are explaining the importance of building a strong and coordinated marketing mix.

Section 2 – Segmentation, Targeting & Positioning

  1. From a textbook researched viewpoint, outline the distinctions between segmentation of the B2B and B2C markets with reference to electric vehicles providing situational examples.
  2. Discuss targeting for EITHER the B2B or B2C market and who you would primarily target with an EV promotion in terms of characteristics including for example for B2C from a demographics, behavioural, geodemographics and lifestyle viewpoint with research to back up your suggestions. As regards B2B you may for example research ‘firmographics’ as starting point plus other elements as identified in marketing textbooks.
  3. Explain what is meant by the term ‘positioning’ and creatively suggest how an electric vehicle would be positioned in the consumer OR business market.

Section 3 – Marketing Mix Analysis

Using the table format below provide ‘creative’ details of the extended (7Ps) marketing mix for a chosen target market from your discussion in Section 2b above, whilst explicitly taking into account the environmental factors identified in Section 1 in order to justify your approach.

Electric/Hybrid Cars Product

Explain how products are developed to sustain competitive advantage – consider the market, trends and competition here.

Place

Explain how distribution is arranged to maximise customer numbers and revenue, and the expected catchment area for the organisation.

Price

Explain how prices are set to reflect an organisation’s objectives and market conditions

Promotion

Illustrate how promotional activity is integrated to achieve marketing objectives – the communications mix including social media. Analyse the additional elements of the extended marketing mix:

People

How important are the staff to the brand purpose and brand image (even if they are not all customer facing?)

Physical Evidence

What significance will the visible elements of the brand take to ensure positioning and consistency?

Process

You should write in as much detail as possible (within word count expectations) ensuring that your work is not just descriptive in nature but also uses academic referencing where appropriate to show how relevant marketing principles and theories support your analysis of the EV market. A balance of theory and practice is required – ensure use of the texts from the elibrary

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