Fashion vs Heavy Mining Machinery Sectors Essay


Need to select either from Q1 or Q3


Explanation & Answer length: 1200 Words.

This examination paper comprises THREE (3) questions. You should answer TWO (2) questions in total. If you answer more than two questions, only your first two answers will be marked. All questions are weighted equally. Calculators are not permitted in this examination. There is a word limit of 2,500 words per paper. Answers that succeed the maximum word limit by more than 10% will be penalised. You should use plain font such as Arial or Calibri, and font size 11 or larger. With the exception of any calculations/diagrams, you are asked to type all your answers. You will type your answers offline for this assessment. Use black or blue ink on light coloured paper for handwritten answers. Your work must be legible. © University of London 2021 UL21/0749 Page 1 of 3 Save typed answers as Word files. Other word-processed formats are acceptable. We will accept handwritten calculations and diagrams in any file format, including PDF, but examiners will not mark work that is illegible. For best results, use a scanning app such as MS Lens or Adobe Scan to create a PDF version of your work. Several scanning apps are available free of charge and will enable you to produce high quality images quickly and easily. You can also photograph your work and upload it through your mobile device.

Any suspected assessment offence will be considered in line with the Procedures for the Consideration of Allegations of Assessment Offence, which could result in cancellation of the paper or worse. UL21/0749 Page 2 of 3

Question 1 Take the hypothetical example of two sectors with structurally different Product Life Cycles (PLC), specifically one with short and probably pattern-wise frequently changing PLC (one such sector could be seasonal retail fashion to individuals in their twenties following social media who also have some purchasing power) and one with several years long PLC (for instance heavy surface mining earth moving equipment or nuclear-reaction-basedelectricity-generating plants). Identify, and contrast the different stages of the Product Life Cycle (PLC) in these two sectors. Then, discuss how marketing strategies change during the different stages of the Product Life Cycle (PLC) for such different sectors. If you judge the above examples unsuitable for you, select ones for your answer which you feel have similar characteristics. (50 marks)

Question 2 Take the hypothetical example of designer hand bags (which though use non-animal-origin materials), and single-portion, canned, ethnic cuisine soups. Explain the different types of communication channels you could use in a country of your own choice for these two sectors/products. If you judge the above examples unsuitable for you, select ones for your answer which you feel have similar characteristics. (50 marks)

Question 3 Take the hypothetical example of a car manufacturer that offers both fully electric cars (i.e., using electric motors/batteries only) and hybrid cars (i.e., ones that use both electric motors and an internal combustion engine). Select a car manufacturer and a segment (i.e., small cars, family cars, SUV or other) of your own choice and explain the possible value propositions on which such a company might position such products in that segment. (50 marks) END OF PAPER UL21/0749 Page 3 of 3 Example of question in exams (Answer only 2 out of 3 question)-; 1250 words each Module leader hints how to responds to question pick two contrasting industry and pick a topic that is most relevant what question is asking. ****The topic (or sub topic) which questions post may ask topics like 1) Topic 4 Crafting consumer marketing strategy (very likely) objective 1, 2 3 and 4 …target mkt, differentiated and undifferentiated segment, production position etc 2)Topic 9 Competitive advantage 3) Topic 8 Marketing promotions (Communications strategy and delve or expound into dimensions of promotion mix) 4)Topic 5 Crafting customer value: offering and brands—Product strategy decision. 5) Topic 8 communication mix/strategy (Promotional tool found in topic 8). (very likely) 6) Pricing strategy (Topic 6) (likely probably one or two aspects) 7) Topic 7 Marketing channels. Added 8

) Topic 10 International Exactly the Questions will be posted like this Question 1 (about 1250 words) for one question. Take two hypothetical of sector A (Luxury) and Sector B (Basic needs e.g fruits etc) Define the structural differences contrasting what ………………… and explain what is needed for both and discuss further. Hints: Example sector or industry A luxury (speciality Gucci Prada or LV goodsdesigner luxury range of shoes or bag) sector or industry B essentials or convenience goods e.g., (Sunkist’s) bulk oranges at regional level. Also, probably the question can ask to discuss in sectors like high tech vs low tech industry, Global vs local market product dominance in food etc Further Hints*** Here pick a relevant topic and expound. Use reference keywords found at the end of each topic summary objectives end page on each course material to spot and expound on relevant key points aspects and touch each probably pick 2, 3 or 4 dimensions to expand concerning the particular goods example in luxury and basic essentials that can be contrasted using its relevant strategy.

Coherence is important Define that understanding, explain and expand on the keyword to be implemented in manner that which the dimensions discuss with depth relating to the product picked. Argue the stark differences that’s needed or not needed to focus on that particular product, maybe a shoes of luxury sector contrast a basic need in supermarket like a bulk of oranges etc. *****Be careful not to pick and expound on generalised concepts if asked about Product strategy decision, students maybe quick to relate to 4Ps or marketing which is not sought in question (which can be found discussed generally in marketing, which is not what the examiner wants to test). ****** Assessment will be done on flow of each topic individually using keywords (in this example Product strategy can be found in topic 5 and its sub topics therefore we need to flow accordingly. Answer structure must be based on to topic and its sub-topics (in textbook material).

Step 1 Select and apply relevant topic to question being asked. Define (topic and relevant aspects, explain briefly its relevance to question or product in sector and then implement in to start the depth of each discussion of key point. Pick 2,3 or 4 issues. Critically analyse the contrasting difference with several dimensions about each key product in both sectors. Be structured with coherence. Concise and consistent. Communicate to the reader or the marker. ***JUST UPDATED (31st May 2021) If question asked about product (Offerings & Brand Topic 5) module leader advise to approach (hints) 1) Target Market, do people buy? 2) People buy products and attributes for phone, luxury shoes etc value, beliefs, is it imagery(perception) for luxury? (if its luxury, is it style, colour, design attributes and characteristics of production can be organic method grown that attributes of production attracts consumer? For luxury- animal based leather sourced from ethical source environment vs non animal? Talk about uniqueness of competition, the differentiation. Luxury Fendi vs Gucci or Prada or etc. For oranges not much differentiation between Sunkist or etc. What about service? For each product needed? Does orange need services to differentiate, or differentiation in service for luxury is imperative?

What kind and which kind of service differentiation needed? Answer based on textbook context key words 3) Explain what do people really buy. 4) The name or brand offerings have, different kind uniqueness in nature? Origin name? Common name? 2 different things altogether? 5) Clarify if it’s the same or a different segment of target? How you position your product in different segment? 6) You can also talk about life cycle of those elements. Example for bulk of orange (there is no product life cycle), for luxury (different season based fashion and design but not climate( to produce). Here can expand product range, line, extended line, fashion cycle, different variety but richer. 7) If talk about Topic 8 marketing promotions does selling orange need to use push strategy? Luxury need to use pull strategy? (Topic 8 Marketing promotions) which one needs more appropriate integrated promotion mix? Question 2 (see recommended in approach model in blue) Discuss how ———(Brand/product/concept—-topic___) ———– strategies changes.

Take hypothetical examples, explain the different types of XXX or XXX (topic or strategies adopted) for this two or one within sectors/industry. ***Pick a country of your own choice for these two sectors. If you find the example is unsuitable for you, select what you feel has similar characteristics. discuss the relevant marketing strategies which changes provide personal justification Contrast with a difference and compare the dynamics that influences the strategies let’s say food sector pick a unique food for example, does a menu change or stay the same depending on the competition, economics, demographics, strength of your competitor’s uniqueness? Is it a globally known brand? One can plan with higher margin with competitor so you have an edge against power, brands, competitive dynamics, price elasticity.

All the discussion needs to show textbook contextualised answer Marketing mix Product and brands mix Pricing Communication Frame them in context situation like: Multi-dimensional image that as if you are in perfect monopoly Supplement with evidence of structural characteristics of a sector Characteristics change subject to environment expose context Every business challenge is unique. Pick 2 3 or 4 relevant aspects possible from under each 2 or 3 strategies highlighted and expand on underlying point under which strategies it was picked. Question 3 (see recommended in approach model in blue below) Take a hypothetical example of a —————-service provider or manufacturer that offers you a certain kind of product and another kind of product. (Select a segment of your own choice in that sector and explain possible alternative topics of which a company might do something in the segment.

There are two ways to discuss marketing strategies -What and which varies -Assume one is introducing a product in marketplace versus leaving market place are the strategies the same? (product life cycle?) -same marketing strategies apply? Yes, or NO? -So, explain the difference that’s relevant strategies where topics applies. -How are they different? Brand’s strategy? Communication strategy? Pricing strategy? JUST UPDATED 31st May 2021 IF questions 1 or 2 or 3 talks about or has relevant topic for example on communication strategy (Topic 8 and or mix topic 7?), module leader hints on how to approach and expound relevant to topics, expand on key words (found at end of each topic material objectives)…cont’d Frame in context Example In UK the at local level one can buy a lemon (micro sales) to be delivered in 15 mins simply pay 35pence + 4 pound of delivery charges. Its different strategy as compared to sell bulks of lemon or export to Italy. Now the difference here is (essentials, perishable, communications and product life cycle aspect. 1)

Communication needs to go global export in bulk 2) Communications need to reach out to local to buy few pieces of lemon either delivery or at supermarket as consumers don’t buy in bulks. LUXURY vs Daily goods 3) As compared to above, luxury seller needs to reach out to buyer globally but with no physical contact—-therefore need to communicate location of buyers thousands of miles away. SO here communication strategy is vital, Pick key words from relevant topic and expand. 4) For the locals, same people go to market, daily or weekly so the communication strategy here is different as seller (who is a farmer meets buyer or consumer directly. So what’s the difference in communication strategy have in personal selling? Expand using context from topic key words and expand on contents a **doesn’t need Instagram, public media, social media, content marketing etc? >> talk about ways to develop communication message >>channels (some minor point from topic 7 combined with topic 8) that we communicate to get the message through to buyers >>understand the target audience or segment; >>Understand how to communicate with them is significant >>Talk about promotion mix (promotional tools mix or the integrated mix of communication essential to promulgate) the value propositions to target segment or customer.

How are we going to do it? Who is going to do it (Marketing manager or Marketer in that establishment)? When are we going to do it? (Maybe at the start of the product life cycle?) >>If its Global brand, marketing manager—think how you are going to communicate as it is international? Via paid media and owned media or earned media, need to dramatized (Topic 8)? What about new shift toward? CONTRAST FOR LOCAL ORANGE -Communication need to be targeted in a single market, local, content of message, design of message is short? Maybe framers need to communicate to buyers in person (seller to buyer personal selling and entrepreneurial marketing? No need marketing research. (personal communication channels (Topic8) As compared to luxury (longer distance/using intermediaries’ topic 7) is the message the same from country to country? (Crafting messages to different culture and demography) Are the people buying the same of different segment? High middle income—low middle income”? (Can touch a little at topic 10) Aspect of communications direct/indirect marketing channel topic7)yah

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