K1 – That they understand the merits of particular marketing concepts when applied to selected business situations.
K2 – That they can understand the potential impact of factors in the external environment on the marketing activities of organisations.
K3 – That they have understanding of the major decisions that organisations confront in satisfying market-place needs.
K4 – That they understand market planning in organisations.
S1 – How to conduct research using relevant marketing journals and business documentation
Assume that you are appointed as a Chief Marketing Manager for Toyota Motor Corporation.
Your role is to evaluate the implementation of market opportunity to launch the new 2020 version of the Toyota Fortuner SUV (Sports Utility Vehicle)within the company’s portfolio in any country of your choice.
Report Format. This assignment is divided into three elements. You will need to achieve an overall mark of 40% to successfully complete this module.
In your role as Marketing Manager:
Part 1. Using appropriate knowledge of marketing philosophies, concepts and theory, critically evaluate the strengths of Toyota Company’s marketing strategy for the SUV category in delivering value to customers. It is best to compare with Honda CRV (30%)
Part 2. Research and evaluate the key dynamics and trends in the competitive and external environments with regard to SUV category. Identify the key factors that underpin the opportunities for the new product launch. Include as Appendix 1 a market research proposal that would enable you to qualify your ‘suggestion’. (note – you are not expected to undertake the market research) (30%)
Part 3. In accordance with your knowledge of the marketing planning process make appropriate recommendations to build a sustainable brand. Your suggestions for implementation must be underpinned with relevant theory and real-life/academic case studies. (40%).You are to suggest ways on how you would significantly leverage the Toyota brand in making it the market leader in the SUV segment.
Your arguments, findings and recommendations should be supported by theories, facts and figures published within academic books, journal articles, recognised business magazines and market intelligence reports.
Students are expected to critically evaluate marketing management theory with applied discussion relating to the current company and its existing brands. In doing so, students will consider how the organisation delivers value to consumers through the adoption of marketing theory and concepts; these may include, however are not limited to; market orientation and holistic marketing approaches.
Students should apply relevant frameworks to critically evaluate the competitive and external environments. Students must demonstrate that they have undertaken research using a wide range of relevant and current sources which must be referenced. In this section students will be expected to synthesise the market intelligence from their research, demonstrating the ability to evaluate what is relevant and significant for the market. Students will propose a market research strategy – students are not required to undertake primary research, this should be a market research plan and will form Appendix 1 of the report.
Part 3. From the knowledge gained in Part 1 and the evaluation undertaken in Part 2 students will have identified key opportunities to launch and market a new sustainable brand. Students should provide a product rationale and overview, followed by formulation of objectives and recommendations. With reference to the marketing management process students will make recommendations on segmentation targeting and positioning (STP) strategy, brand building, shaping the market offering through application of holistic marketing management approaches, and implementation and control. It is expected that recommendations will be underpinned with relevant theory and organisational case studies.