Word Count: 2000 words main body text (+/- 10% without penalty excluding list of references and appendices) Contribution: 50% of overall module mark Submission Deadline: Monday, 22nd February 2016, 1500 hours Written Assignment Title: Market Analysis Report for a chosen scenario. What is Required?: Choosing from among ANY ONE of the business scenarios provided below, prepare a Market Analysis Report that outlines an overall market analysis for your client. This analysis will include a comprehensive macro- and micro-environmental business analysis, an industry analysis, the challenges and opportunities, customer analysis including current and potential target customers, market segments, and some influences shaping their behavioural choices, and an analysis (if applicable) of key competitors. Also to be included are some ideas about how further market research can be carried out to gain more insights. You are the senior market analyst for a leading marketing consultancy firm. You have been approached by clients asking you to prepare a market analysis that will help them in firming up their marketing plans. Business Scenario Options: Client 1: You are approached by Visit Norfolk, the leading tourism marketing organisation in Norfolk. Visit Norfolk is interested in developing a marketing campaign in collaboration with Norfolk County Council and British Cycling for attracting one stage event of the Tour de France in 2017. Tour de France is the worldâ€™s largest and most prestigious annual sporting event. In 2015, Yorkshire became the first location outside France to host a stage of the Tour. The stage was a huge success for Yorkshire, attracting huge number of visitors to the region, and boosting business and tourism revenue by the millions. Yorkshireâ€™s success has inspired Norfolk to plan for a similar campaign. However they do not have a clear picture of the current interest in Norfolk for such an event, the challenges, opportunities, and capabilities that Norfolk has to host such an event. It is expected that other regions in England will also compete for such an opportunity. Visit Norfolk wants a comprehensive market analysis done that would give them a clearer idea of how to organise a marketing campaign and have hired you to do the job. A) Subject specific skills 1. Be familiar with the core marketing concepts and basic marketing terminology (the â€œlanguageâ€ of marketing). 2. Understand the role and importance of marketing in society and business. 3. Explain how various environmental factors- social, technological, competitive, economic and legal affect marketing decision making processes and outcomes. 4. Illustrate how consumers/customers/clients make purchasing decisions and explain the socio-cultural, psychological and situational influences on consumer behaviour. 5. Explain what marketing research is, what it does and how marketing information systems can be used to aid marketers in linking large amounts of marketing information into meaningful marketing actions. 6. Describe what market segmentation is, when to use it, list the steps or processes involved in market segmentation and understand how to segment a market according to different dimensions. 7. Demonstrate/explain the process of developing a marketing strategy, by choosing a target market and marketing mix. 8. Identify and explain the basic concepts and principles within each of the 4 elements within the marketing mix (the basic â€œtoolsâ€ of marketing). 9. Demonstrate awareness and understanding of the major trends and developments in the field of marketing today including the role of ethics in marketing, direct marketing, relationship marketing, and e-marketing. 10. Understand the basics of services marketing. B) Cognitive and key skills 1. Cognitive skills of critical thinking, analysis and synthesis. 2. A creative approach to solving problems and taking decisions. 3. Specific strategic and tactical marketing skills: market segmentation product positioning and targeting promotional techniques. 4. Learning to learn and developing an appetite for learning. 5. Abilities to conduct research into business and management issues both at the individual and group level 6. Self-confidence. C) Employability Skills: 1. Application and Analysis: Applying theoretical concepts to a practical real life business scenario 2. Enterprise Skills: Developing marketing ideas for a real business scenario using creativity and entrepreneurial skills 3. IT: using IT skills to gather information and designing business campaigns 4. Research and Information gathering: to be creative in the use of source material. What are you expected to demonstrate?: 1. For your chosen scenario, your knowledge and understanding of market analysis including business environment, industry conditions, consumer audience, competitors if applicable, opportunities and challenges. Your market analysis will include some form of: a. Micro- and macro-environmental analysis covering a range of factors that can influence the business directly or indirectly b. The opportunities and challenges that exist within the market sector and how it shape potential business plans c. An analysis of industry conditions including demand, suppliers, competition, and entry and exit conditions d. The different types of customers â€“ individual and organisational if applicable â€“ that will be targeted, influences on their behaviour, and choices e. Various ideas about the types of competitive strategies that would be most appropriate and the types of customer and market segments that can be targeted for such strategies f. Some ideas and suggestions about how further market research can be carried out including a brief outline of some marketing research methods and techniques g. A brief set of suggestions, implications, and recommendations to the client 2. You will support your plan with appropriate theoretical references and the use of key theoretical concepts suitably sourced from academic references. 3. You will support your market analysis by undertaking smart and judicious industry analysis from a range of sources including news websites and industry databases. What are the expectations? 1. You MUST demonstrate proficiency in both theory and application in the market analysis, through your understanding of fundamental theoretical concepts, evidence of academic reading and research, evidence of industry reading and research from relevant websites, and evidence of online research skills. Your work must be practical, realistic, sensible, and professional and can be used as evidence in your CV. 2. Your plan MUST use appropriate referencing and follow guidelines for primary and secondary research references. IF YOU HAVE NOT READ A PIECE OF WORK IN THE ORIGINAL, DO NOT PUT IT IN THE REFERENCE. LIST OF REFERENCES ARE MEANT TO BE SOURCES THAT YOU HAVE READ IN THE ORIGINAL. Grades are NOT dependent upon the number of references. Please note that the practice of putting in citations and a long list of references to make your work look impressive without actually having read any of the papers in the original is dishonest and is easily detectable. It makes your work seem lacking in academic credibility, intellectual rigour, and professional ethics and is to be entirely avoided! You will be penalized for this so it is best to avoid this practice altogether 3. The above criteria are broad guidelines that lay out the expectations of the contents of the market analysis. You MUST be able to structure the content, style, and details of the essay as you see fit within these guidelines. THERE IS NO SET GUIDELINE OR FRAMEWORK OR TEMPLATE FOR THE PLAN. Please use your own judgement and ideas in structuring the essay as there are no rigid guidelines governing the overall structure. You can use the frameworks provided in the class lectures or any other appropriate frameworks of your choice with suitable references. Only those references should be used which you have read in the original and which are relevant. There are no rules about the number of references required as it is quality more than quantity that is important. However please DO NOT use references which you have not read in the original or which have little relevance for the main text. Follow the presentation guidelines strictly. The standards of marking will be rigorous so the quality of your submission needs to be very high. What are the guidelines you need to follow?: For Submission: - Coursework should be electronically uploaded unless instructed otherwise - Include the word count on the coursework coversheet - Submission is anonymous and therefore do not put your name on the coursework. Only your student number is required - Your student number can be found on your student ID card. Please double check your student ID number is written correctly before submitting your work - Please ensure that you do not overload your electronic draft with images and graphics that increase its file size and cause problems during upload - Ensure that your work is uploaded well ahead of time to avoid peak hour demands on the electronic systems and servers. Do not use IT and infrastructure excuses for delayed submission Word Count: - The word count for this coursework is 2500 words - You are allowed to exceed this word limit for up to a maximum of 10% WITHOUT PENALTY - If you exceed 10% or more over the max word limit you will be deducted 10 marks off the original mark - Word limit covers the main body of the text and includes footnotes and endnotes (irrespective of whether they have been used for the purpose of referencing or not), references and citations in the main text, tables and illustrations, and if applicable the abstract, title page, and contents. Appendicised material, reference list and bibliography is not included in the word count. Capped Marks: - Marks will be capped to the pass mark if there is intentional misrepresentation of word count on the coversheet - When the original mark is within 10 marks off the pass mark, the penalty will be capped at the pass mark - Original marks below the pass mark will not be penalized MARKING CRITERIA Assessment will be marked against assessment and marking criteria laid out as University guidelines (Please access these guidelines for reference at http://www.uea.ac.uk/learningandteaching/staff/assessment/Marking+Criteria ) (the following is a general indicative spread) MARKING SPREAD Items Subject Matter % 1 Evidence of critical engagement with literature and scholarship covering relevant theoretical concepts and frameworks 20 2 Comprehensiveness of market analysis and thoroughness of applying theory 40 3 Practical analysis of marketing implications and business recommendations 20 4 Presentation, structure, flow, communication, evidence of meeting learning outcomes 10 5 Integrity of reading, research, and standards of academic referencing and scholarship 10 RETURN OF MARKED WORK You can expect to have marked work returned to you by 20 working days after the submission date. PLAGIARISM WARNING! Assignments should not be copied in part or in whole from any other source, except for any marked up quotations that clearly distinguish what has been quoted from your own work. All references used must be given, and the specific page number used should also be given for any direct quotations, which should be in inverted commas. Secondary citations must be referenced appropriately. Students found copying from the internet or other sources will be referred to plagiarism procedures. REFERENCING Please note that the University uses Harvard as its standard for referencing widely available in various formats throughout the University. REASSESSMENT Please read the feedback and feed forward comments on your original submission along with the suggestions for improvement provided and re-submit. The assignment brief for the coursework, the requirements, and the marking criteria remain same as the original assignment. Time Duration: 2 Hours Contribution: 50% of overall module mark Date: TBC (Note: Exam dates and times are set centrally and exam timetables will be made available a few weeks before the end of term. Information about exam timetables will be communicated to you and relevant information will be circulated through Blackboard and email) GUIDELINES AND MARKING 1. The exam is an unseen, closed book assessment. You will not be allowed notes or supplementary reading material in the exam hall. 2. The assessment criteria and learning outcomes assessed through the exam will be the same as for the assignment. 3. The exam question paper will consist of a total of six questions of which candidates are required to answer ANY TWO questions of their choice. Each question will be marked for 50, and the total exam will be graded out of a 100 marks. 4. In marking the papers, the examiners will take into account clarity of exposition and logic of arguments, effective arrangement and presentation, and the use of concise and lucid English. 5. In general the marking criteria will assess a. Breadth and depth of theoretical knowledge and understanding b. Rigorous application and analysis of marketing and business issues c. Comprehensive analysis, consistency of arguments, and clarity of logical reasoning in developing arguments 6. The nature of questions will require students to demonstrate a high standard of critical and analytical thinking, rigorous engagement with the prescribed reading laid out in the module, an ability to apply and illustrate theory, and knowledge about contemporary business practices and issues. 7. A good answer will have a clear introduction, a good understanding of basic theory with appropriate citation from the relevant textbook, references to and citation of selected pieces of contemporary academic research (full references are not necessary, author-year citations are sufficient), illustrations of how theory is being / may be applied in practice, a section of analysis or argument discussing the relevance / importance of the theoretical concept being addressed, a critical evaluation, and a neat conclusion. 8. Quality of answers will be preferred over quantity. 9. Students are advised to watch the clock during the exam and time their answers correctly, and not waste time drawing / reproducing theoretical frameworks or models, definitions etc. that do not add any value to the overall answer. RETURN OF MARKS / GRADES You can expect to have marks / grades available 20 working days after the exam date. Generic feedback will be uploaded on to Blackboard. REASSESSMENT In the event you are required to take reassessment you will be formally notified by the university along with dates. The format, structure, learning outcomes assessed, and marking and assessment criteria will be the same as for the original exam. ASSESSMENT SUPPORT: For both the coursework and exam, students will be provided additional support as well as signposted to additional reading material or supplementary sources of information throughout the duration of the module. These will include hints and suggestions in every lecture and seminar session mapping learning to assessment requirements and dedicated exam revision and tutorial sessions as appropriate. In addition students are also welcome to make personal appointments with the module organiser / tutor / seminar leader if required and if absolutely essential. Students are expected to be independent and take initiative in completing assessments.
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