Assignments for MK4S34 Strategic Marketing for September 2022 cohorts
Submission of BOTH assignments (two clearly marked sections in one document as ‘ASSIGNMENT 1’ and ‘ASSIGNMENT 2’) is through Turnitin. The deadline for submission is 23:59 hrs on 06 January 2023.
Background
Market segmentation is a crucial marketing strategy. Its aim is to identify and delineate market segments or “sets of buyers” which would then become targets for the company’s marketing plans. The advantage to marketing management is that this technique divides total demand into relatively homogeneous segments which are identified by some common characteristics. These characteristics are relevant in explaining and in predicting the response of consumers, in a given segment, to marketing stimuli (Tynan and Drayton, 2010).
Market segmentation is the process of dividing a market into smaller groups of consumers with similar needs or characteristics. It is a crucial step in the strategic marketing process because it helps businesses identify target customers and tailor their marketing efforts to those specific groups.
There are several benefits to market segmentation:
Improved targeting: By dividing the market into smaller segments, businesses can more effectively target their marketing efforts and resources to specific groups of consumers. This allows them to reach the right people with the right message, which can increase the effectiveness of their marketing efforts.
Customized marketing mix: Market segmentation allows businesses to customize their marketing mix (product, price, promotion, and place) to better meet the needs and preferences of specific groups of consumers. This can help businesses increase customer satisfaction and loyalty.
Increased profitability: By targeting their marketing efforts to specific groups of consumers, businesses can potentially increase their profitability by attracting more customers and retaining their business over time.
Market segmentation plays a crucial role in the strategic marketing process by helping businesses identify and target specific groups of consumers and customize their marketing efforts to better meet their needs and preferences.
Assignment 1
Case study: Lego Group
How does Lego Group reach its customers in their own online environments? The organisation carefully targeted its intended audiences using their own favoured social media platforms. Lego used six distinct profiles to categorise their customers, using data relating to purchase and usage rates. The profiles ranged from those totally engaged with Lego’s products, having contributed to product design, to those who had no brand experience. By targeting these individuals and paying particular attention to their requirements, Lego maximised the opportunity of encouraging the audience to become brand advocates. In this way, Lego Group rose to become the world’s fourth largest toy manufacturer, capturing around 6.9% of the global toy-sales market and sustaining a substantial growth rate.
Question:
You are required to carry out a critical analysis of the role of market segmentation in the strategic marketing decisions of Lego Group. You should research Lego and its practice regarding segmentation and targeted messaging and complete a structured analysis of the company’s practices based on your observations and any documentation you may source of the company’s market segmentation efforts.
Whilst you are not required to contextualise this practice within the body of theory within the first assignment (this will be the focus of Assignment 2), you should use academic terminology that is informed by the body of literature surrounding segmentation.
(3,000 words +/- 10%)
Suggested structure for Assignment-1
1. Introduction to Lego Group.
2. Examination of segmentation and targeted messaging practice demonstrated by the organisation.
3. Examination of how these practices contribute to the fulfilment of marketing strategy.
4. Conclusion, drawing together the key practices employed by the company (and ready for progression into Assignment 2 which performs synoptic literature review for the themes identified).
Assignment 2
Market segmentation forms the basis of Assignment 1 and within the Assignment 1, you will examine the strategic tactics (identified themes) that Lego Group employs in connection with this concept.
Question:
For Assignment 2, you should examine the theory surrounding the relevant constructs, and conduct a critical appraisal of the extant body of literature related to the themes you have explored in Assignment 1. You should provide a synoptic literature review which compares, contrasts and critiques research findings on the themes you have explored relative to market segmentation and targeted messaging.
(3,000 words +/- 10%)
Suggested structure for Assignment-2
1. Introduction to the constructs of segmentation and targeted messaging by providing a logical order of themes and sub-themes identified from Assignment-1 which will be examined within the context of Lego’s practice.
2. Theoretical Framework.
3. A critical appraisal of each of the identified themes and sub-themes.
3.1 Theme – 1
3.2 Theme – 2
3.3 Theme – 3….
4. A conclusion which illustrates clearly how the organisation in question complies with or digresses from research findings.
General advice
• Use headings for sections.
• Use Harvard referencing (see USW website).
• Submit early to generate an originality report and use this as a learning tool. Work with high similarity indices will be submitted to the Academic Misconduct Committee.
• Tutors are not able to grant extensions. If you have extenuating circumstances, then you should contact the Advice Zone.
• These are marketing assignments. Marketing relies on effective communication, so you should make every effort to ensure that the language, grammar, and punctuation used within your submission is appropriate and expresses your points clearly and succinctly.
• For the Literature review (Assignment-2), the use of theory to support or contradict practice is what makes this assignment ‘masterly’. If you fail to engage with the theoretical framework to support your assertions, your marks will be poor.
Marking Rubrics
The marking scheme for these assignments is as follows. Please note that your work will be marked taking all aspects into account, and this is for guidance only. Your work may have relevance to more than one of these categories, and your mark will be determined as an aggregate which takes into consideration each of the components in the table below:
86-100% The work examined is exemplary and provides clear evidence of a complete grasp of the knowledge, understanding and skills appropriate to the level of the qualification. There is also ample excellent evidence showing that all learning outcomes and skills appropriate to the level are fully satisfied. The work is exemplary throughout and demonstrates a particularly compelling Assessment, originality and elegance of argument, interpretation, or discussion.
76-85% The work examined is outstanding and demonstrates comprehensive knowledge, understanding and skills appropriate to the level of the qualification. There is also excellent evidence showing that all the learning outcomes and skills appropriate to the level are fully satisfied. The work is mostly outstanding and demonstrates a particularly compelling Assessment, originality and elegance of argument, interpretation, or discussion.
70 – 75% The work examined is excellent and evidences comprehensive knowledge, understanding and skills at an appropriate level. There is evidence that all learning outcomes and skills appropriate to the level of qualification are satisfied. The work is mainly excellent and demonstrates compelling Assessment and elegance of argument, interpretation or discussion.
60 – 69% Work is directly relevant to the requirements of the assessment and shows a substantial knowledge of relevant material, a clear grasp of themes, questions, and issues therein. A comprehensive analysis of the literature is present with a clear and orderly presentation. Distinctive and/or independent thinking is evident and begins to formulate an independent position in relation to theories. Work will be well written with standard spelling, grammar, and readability in an acceptable format. Critical appraisal of up-to-date and/or appropriate literature is present with a recognition of different perspectives.
50 – 59% A reasonable attempt to address the assessment brief. May drift away from this in less focused passages. Adequate knowledge of a fair range of relevant material with intermittent evidence of an appreciation of its significance. Generally coherent and logical structure. Some distinctive/independent thinking. Competently written with only minor lapses from standard grammar with acceptable format. Draws on a good variety of literature including recent texts.
40 – 49% Some relevance to the assignment brief but deviates somewhat. Basic understanding of subject, but a limited understanding of the subject is demonstrated. Narrative or descriptive approach to the literature which may be list-like. Uncritical for the greatest part, and not providing a synoptic view of the literature. Simple and basic style with significant deficiencies in expression or format that make for difficulty in understanding by the reader. Frequent use of a single source of literature.
30 – 39% Relevance is intermittent and the work is vague at least in part. A limited understanding of narrow range of material is demonstrated. Largely descriptive or narrative with no synopsis. Basic argument may be evident, but lack of clarity and coherence is also there. Deficiencies in expression and presentation, and clarity is only achieved (if at all) through a simplistic or repetitive style. Barely adequate use of literature and over-reliance on material provided by tutor.
0-29% Work is unacceptable and provides little or no evidence of knowledge, understanding or skills appropriate to this level of study. Evidence shows that learning outcomes are barely met, if at all. Work is weak throughout.
