IB Business Management Marketing CUEGIS Portfolio First Portfolio Due Date: 2/2/2016 Marketing Mid-Term 2/26/2016 Purpose: Because you may be asked to compare and contrast the marketing strategies of an organization of your choice on the IB exam, you will begin to individually study an organization of your choice beginning with our Marketing Unit. You will develop and turn in a portfolio of work. Chapters included in this project: 4.1 The Role of Marketing (CUEGIS essay #1) 4.2 Marketing Planning (CUEGIS essay #2) 4.4 Market Research 4.5 The Four P’s (product, price, promotion and place) 4.8 E-commerce (CUEGIS essay #3) Deliverables for each chapter (organized in your portfolio by chapters with a title page, TOC, page #’s): 1. 2. 3. 4. 5. 6. 7. 8. Read the chapter and prepare a one page graphic organizer, hand written, color Write answers to the review questions from the end of the chapter, hand written Printed, critically read articles that support your CUEGIS essay Mini marketing audit of your company, clearly labeled a – f, may be typed Outline of CUEGIS essay, may be typed CUEGIS essay (will be peer edited), hand written Essay reflection and improvement strategies, may be typed An appendix (one for the whole portfolio) with tools clearly explained, may be typed CHAPTER 4.1 THE ROLE OF MARKETING ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ CUEGIS Essay #1 Prompt: Using a company you have studied, discuss how their marketing strategies have evolved as a response to changes in customer preferences (buying behaviour). (4.1 The role of marketing) ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ What to do 1. Select a company and have it approved by the teacher. You will use this company for the entire Marketing Unit. Large, multi-national, publicly traded companies are preferred. Organizations with controversial issues are great candidates. 2. Complete Deliverable #1 - #2 as homework. 3. Provide a marketing audit by researching the questions below: a. What needs/wants does your organization serve? (Use business language, such as what business units or product lines do they report on and who do they serve, etc.) b. Is your organization market or product oriented? c. What is the market size? (Value will be in Sales $, e.g. $1.6 billion) d. What is the organization’s market share? (Value will be a %, e.g. 20%)) e. Do they practice social marketing? (e.g. corporate social responsibility) f. Which marketing objectives from page 336 do they emphasize? 4. Continue, or concurrently with #3, research your company to find sources that identify examples of evolving marketing strategies as a result of changing customer preferences (buying behaviors). Possible issues include, but are not limited to: Changing customer taste (more people consuming content on devices) Shorter product life cycles (Faster iPod product cycles as technology advances) Internet and mobile technology (Apple’s iTunes Store) Competitive rivalry (Apple offering a “plus size” phone due to Samsung) Globalization (Apple creating messages that will translate globally) 5. Develop an outline connected to the essay format below 6. Write your essay 7. Give your essay to your assigned peer editor 8. Receive your peer edited essay back and write a reflection on strategies to improve CHAPTER 4.2 MARKETING PLANNING ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ CUEGIS Essay #2 Prompt: Using a company you have studied, examine what changes globalization has brought about in their marketing planning (intentionally broad to allow various directions). (4.2 Marketing Planning) ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 1. Complete Deliverable #1 - #2 as homework. 2. Continue your marketing audit by researching the questions below: Describe the firm’s target market, segment and customer profile Construct a position map Describe the firm’s unique selling proposition Discuss how the firm differentiates their product from competitors 3. Develop an outline connected to the essay format below using a framework, such as the four P’s of marketing as your four body paragraphs. 4. Write your essay 5. Give your essay to your assigned peer editor Assessment matrix Marks Criterion A: Knowledge and conceptual understanding 0 The work does not reach a standard described by the descriptors below. 1 Superficial knowledge of the given concepts is demonstrated. Business management content is not selected or the content selected is irrelevant. 2 Satisfactory understanding of one or both of the given concepts is demonstrated. Some business management content selected is relevant. The relevant content is satisfactorily explained. 3 Good understanding of one or both of the given concepts is demonstrated. The business management content selected is relevant, though it may not be sufficient. The relevant content is generally well explained, though the explanation may lack some depth or breadth. 4 Good understanding of both of the given concepts is demonstrated. The business management content selected is relevant, sufficient and well explained. Marks Criterion B: Application 0 The work does not reach a standard described by the descriptors below. 1 The given concepts and/or any relevant business management content are connected to the real-world organization(s), but this connection is inappropriate or superficial. 2 The given concepts and/or relevant business management content are connected appropriately to the real-world organization(s), but this connection is not developed. 3 The given concepts and relevant business management content are generally well applied to explain the situation and issues of the real-world organization(s), though the explanation may lack some depth or breadth. Examples are provided. 4 The given concepts and relevant business management content are well applied to explain the situation and issues of the real-world organization(s). Examples are appropriate and illustrative. Marks 0 1 2 3 4 Criterion C: Reasoned arguments The work does not reach a standard described by the descriptors below. Statements are made but these are superficial. Relevant arguments are made but these are mostly unjustified. Relevant arguments are made and these are mostly justified. Relevant, balanced arguments are made and these are well justified. Marks Criterion D: Structure 0 1 The work does not reach a standard described by the descriptors below. Two or fewer of the structural elements are present, and few ideas are clearly organized. 2 3 Three of the structural elements are present, or most ideas are clearly organized. Three or four of the structural elements are present, and most ideas are clearly organized. 4 Marks 0 1 2 All of the structural elements are present, and ideas are clearly organized. Criterion E: Individuals and societies The work does not reach a standard described by the descriptors below. One individual or group perspective is considered superficially or inappropriately. One relevant individual or group perspective is considered appropriately, or two relevant individual or group perspectives are considered superficially or inappropriately. 3 4 Total Max At least two relevant individual or group perspectives are considered appropriately. Balanced consideration is given to relevant individual and group perspectives. Outline your essay using IB Paper 2 Section C format: Introduction (1 paragraph) - Criterion A: Knowledge and conceptual understanding 4 - Good understanding of both of the given concepts is demonstrated. The business management content selected is relevant, sufficient and well explained. o o Brief description of the organization Be mindful of the command term = Discuss = Offer a considered and balanced review that includes a range of argument, factors or hypotheses. o Opinions or conclusions should be presented clearly and supported by appropriate evidence. o Explicitly define and demonstrate understanding of the two concepts and their connection to an appropriate array of relevant marketing issues you are addressing to set the scene for the conceptual discussion to follow o Demonstrate the structure you will use to frame the body of your essay (e.g. the four P's, the Ansoff matrix, promotional strategies, BCG Matrix, product life cycle, reasons why marketing strategies evolve (pg. 336, etc.) Body (~3 – 5 paragraphs) o o o o o One point per paragraph expressed as a clear topic sentence Be analytical, illustrate with examples Apply relevant content from the syllabus (chapter) through the CUEGIS concepts for each point Avoid descriptive writing and unfounded claims Course content that is unrelated to the central theme of the essay will not add value (don't use a shot gun approach in hopes of "finding points") Criterion B: Application 4 - The given concepts and relevant business management content are well applied to explain the situation and issues of the real-world organization(s). Examples are appropriate and illustrative. o o o Make relevant arguments demonstrating a logical flow of idea development from above examples Offer concrete examples and/or evidence that justify the arguments effectively for each point Avoid oversimplifying or generalizing (e.g. don't refer to markets, but rather market segments) Criterion C: Reasoned arguments 4 - Relevant, balanced arguments are made and these are well justified. Stakeholder impact (1 paragraph, may be interwoven throughout) - Criterion E: Individuals and societies 4 - Balanced consideration is given to relevant individual and group perspectives. o o o Addresses perspectives of various groups of stakeholders in a balanced way Do not speculate about stakeholder views, attitudes, feelings or actions Compare various cultures, but also differences within same cultures i.e. cultures are made up of various heterogeneous groups Conclusion o Begin with In conclusion o Present balance by presenting a "however" statement o Provide a judgement or recommendation o Acknowledge you don’t have all information and provide an example of one you would find useful and why. Criterion D: Structure 4 - All of the structural elements are present, and ideas are clearly organized. Brief definitions of the CUEGIS concepts 1. Change: reflecting the greater speed with which decisions need to be made and circumstances change in the operating environment of most businesses. 2. Culture: appreciating that businesses need to align a broad spectrum of individual, collective and societal goals. 3. Ethics: emphasizing the fact that the ethical considerations businesses face are substantial and near all pervasive, instead of being peripheral and isolatable. 4. Globalization: reflecting the interconnected patterns of production and consumption shaped by businesses and affecting them. 5. Innovation: emphasizing the need for businesses to renew themselves in the competitive, technologically advanced market place with increasingly sophisticated customers 6. Strategy: reflecting the importance of holistic long-term planning in an operating environment with the above attributes.