You need to carry out in-depth research into the brand’s target market (who they are, their likes/dislikes, their levels of personal disposable income etc.) using market research databases – e.g. Mintel reports, WARC and TGI. You then need to look at the brands themselves, their brand values and competitive positioning in the market before going on to discuss their application of the 4Ps – product, price, place and promotion. The key to getting a good mark on this is to prepare a comparative analysis. LO 1 Analyse the effectiveness of the marketing mix for any given company or brand. Do not describe the brands in isolation – always look at the two together and explain why they do things differently.
This assignment should be based on secondary and observational research only. You are not required to carry out any form of primary research. You need to research the following:
1. Target Market
You need to develop a detailed target market profile for each brand using data sources such as Mintel, the companies’ own websites and other secondary sources. You need to think about age, gender, personal disposable income, social class, level of education, family life cycle, lifestyles, other brands they like, TV programmes they watch, hobbies etc.
2. Product /Brand
Using Levitt’s model of a brand, try to analyse your two selected brands (their shape, packaging, colour scheme etc.). How different are they at the functional and emotional level? What are the brand values that the companies are trying to portray? In addition, have a look at Aaker’s brand personality framework to see which personality type(s) each brand follows. LO 1 Analyse the effectiveness of the marketing mix for any given company or brand.
You need to carry out some on-line and in-store research to establish a market price for each of the brands and any competing products. Display all this competitive pricing research in a table and draw conclusions about which pricing strategy they are adopting.
4. Place (Distribution)
You need to look at channel management. Which stores stock this product? Is it a mass market product where the company has maximised distribution outlets, or is it a luxury brand where distribution is deliberately limited? Explain your answer. If possible, take photos of the product in- store/on-line. What does this tell you about brand values?
You need to research their past methods of communication (e.g. cinema, TV, outdoor, print, social media, mobile, own website etc.). Which communication methods do they use to build their respective brands? – and how do they do this? How are they positioning themselves in the minds of target audiences? (E.g. affordable, luxury, healthy, socially conscious etc.)
You only have 1500 words for your report so you need to decide what goes in the appendices. It is suggested that you follow this structure for your work.
LO 1 Analyse the effectiveness of the marketing mix for any given company or brand.