Chartered Postgraduate Diploma in Marketing Analysis and Decision Senior Examiner Assessment Report March 2013 © The Chartered Institute of Marketing 2013 Contents This report contains the following information: Section Page Background to the assessment 3 Comments on how the marking scheme was applied 5 o o o o o Concept, Application and Evaluation Syllabus coverage Use of command words and the extent to which answers reflected what was required The relative weighting of each part of a task and an indication of what aspects of the task required most care and attention What differentiated the A, B, C, or D grades. 9 Analysis of the assessment Statistics General comments Strengths and good practice by task (including examples of best practice) Weaknesses and common mistakes by task Recommendations for improved candidate performance Possible alternative approaches Feedback on the academic quality of the cohort and the quality of the teaching, as judged by the results 20 Commentary as to whether recommendations made in previous years have been properly followed up 21 Recommendations for improving performance in future assessments (for tutors and candidates) 21 Clarification about any syllabus or assessment changes 21 Possible future assessment themes 21 Appendix: ‘Postgraduateness’ 23 Page 2 Senior Examiner Assessment Review Report UNIT NAME: Analysis and Decision AWARD NAME: Chartered Postgraduate Diploma in Marketing DATE: March 2013 Background to the assessment: Prior to the examination, candidates were provided with an extensive case study (Global Theme Park Industry), reflecting a real life situation. The case study included extensive information about the global theme park industry, including the historical evolution and growth of amusement parks going back to the early 1800s in the USA, followed by the Great Depression of 1930 and the Second World War, and their impacts on the industry. Extensive information was also included about: the recent market value of the global theme park industry (eg, worth $24 billion in 2010 forecast to US$29.5 billion by 2015) the North American market (eg, the most mature market with visitor numbers of 290 million, dominated by market leading theme parks in Florida, USA, but highly competitive and affected by recent economic troubles triggering a strong need for re-investment in the business, etc) the European market (particularly Western Europe with five theme parks in France, three each in Germany and UK, two each in Netherlands and Sweden and one in Spain with visitor numbers of around 58 million, with Disneyland Paris Resort the most popular one visitor numbers for specific countries, information on the impact of economic conditions and demographic changes, with a need to invest in new rides and shows). Detailed information was also included about the Asian market, home to 4.2 billion people with over 100 million visitors to the top 20 theme parks, strong potential growth in countries such as India, Indonesia and China, the rising prosperity and the rise of the middle class. Further detailed information was given on the local competition (eg, Disneyland Tokyo, Universal Studios Japan, Ocean Park in Hong Kong and the differences in local customs and traditions (eg, more people enthused by spectacular shows than the thrill of the rides, etc). The case study included extensive information on the African, Middle Eastern and South American markets including the Dream Park in Egypt, the Latin American market and Ferrari World in Dubai, with details of economic troubles and other trends affecting the regional markets. The case study also included detailed information about key issues relevant to the global theme parks’ value chain, including: the need for improving the visitor experience issues, investment in new rides and attractions the use of technology to engage visitors and give them experiences that are not possible in the real world extensive use of themed entertainment (eg, animated family cartoons and films; drawing upon rich film history, etc), Page 3 the use of customer service in delivering a great experience for theme park visitors, including service standards, and the management of queues as a significant issue the use of food outlets to generate extra income, customer perceptions of food offered weather and seasonality issues affecting the industry, and other issues such as changes in travel patterns, branding, positioning and promotion activities by various competing service providers, and the future of the global theme park industry. The case study included detailed and extension information about the historical development and evolution of Walt Disney and Disneyland as a global brand and as a market leader, the entrepreneurial style and role of Walt Disney in contributing towards the success of the brand, existing and past strategies of Walt Disney and Disneyland in securing market share and defending its position, with detailed information on the key factors contributing to overall success of Walt Disney locally and in global markets. The case study included information on a range of risks facing the Walt Disney Company, its objectives and vision, market share information and other financials. The case study provided extensive insights into major players in the global theme park industry and their key strengths and weaknesses. Fourteen appendices were included in the case study providing information on a range of relevant issues, including: a news item for appointment of the design firm Thinkwell Group by Zhonghong Real Estate in China for the Monkey Kingdom theme park in Beijing, China a commentary on boom or bust prospects of the Middle East theme park industry a detailed report about travelling with children, what families want to do as they travel, including preferences by various age groups, how families plan their outings, real thrills and authentic experiences sought by families a news item on UK families being priced out of short breaks a news item by Nouriel Roubini about their future predictions an IMF report about the need for an action as the Eurozone enters a critical phase a figure showing sources of ideas for planning to visit theme parks/attractions a range of tables showing the top 10 theme park groups worldwide, the top 25 amusement parks worldwide, the top 20 amusement parks in North America, Asia and in Europe, the top 10 amusement parks in Latin America, and amusement and theme parks by selected countries. Prior to the examination, candidates were required to carry out a six page audit of the case study and bring it to the examination venue where it was to be attached with their answer book. No marks were to be awarded for the six page audit itself, but for how the audit was used to answer the tasks during the examination. Candidates were provided with a candidate’s brief prior to the examination. The brief required candidates to imagine working in the global theme park industry as a marketing consultant, being asked by Walt Disney Parks and Resorts to undertake a strategic marketing audit to analyse both internal and external factors that were impacting on the future of the organisation and its parent company, The Walt Disney Company. Candidates were asked to consider the changing nature of the global theme park industry and the key issues and risks that would impact upon Walt Disney Parks and Resorts in developing its future vision and strategy. Candidates were briefed that the company was seeking insights into how it could further develop its successful brand, and maintain its competitive position as a brand leader and successful innovator in the context of the challenges facing the global theme park industry. The examination paper included some additional information to the case study (not seen by candidates prior to the examination), providing further information on the global theme park Page 4 industry. It was stated that the industry viewed 2011 as the year when economic recovery and increased globalisation started to take effect. The three markets of Europe, Asia and North America saw growth in the number of visits made and the Asian parks reported an increase of 9.4% in total visits. It was also stated that the most visited parks were owned by Disney – the Magic Kingdom at Orlando, USA Disneyland at Anaheim, USA topped the list of most visited theme parks in the world. These two parks were followed by Disneyland in Tokyo and in Paris. The report concluded that those parks in Asia that had made significant capital improvements increased visitor numbers. The market for spectacular shows was also growing. When answering tasks, candidates were expected to consider this additional information alongside the case study. The examination paper consisted of three tasks, all of which were compulsory. Task One (50%) had two elements each worth 25 marks. Task Two had two elements, with the first element work 15 marks and the second one worth 10 marks. Task Three was worth 25 marks. All three tasks were interlinked and candidates were expected to answer all of them using information from the case study, the six page audit and the additional information presented on the day of examination. Comments on how the marking scheme was applied: o o o o o Concept, Application and Evaluation Syllabus coverage Use of command words and the extent to which answers reflected what was required The relative weighting of each part of a task and an indication of what aspects of the task required most care and attention What differentiated the A, B, C, or D grades. Throughout the assessment, candidates were expected to show a good understanding and knowledge of relevant concepts from a range of syllabus areas (eg, analysis of strategic position, core competencies and competitive positioning, evaluation of capabilities and constraints in the context of strategic intent, assessment of strategic options, recommendation and justification of the chosen option, and evaluating the challenges facing the global theme park industry). However, simple knowledge of basic concepts was not enough as candidates were expected to evaluate and apply to the given context providing sufficient details. Hence, more marks were available for application and evaluation than for simple understanding of basic theory and concepts. Candidates were expected to append a six page audit demonstrating individual effort, independent thinking and insights into the following: a knowledge of a range of techniques, processes and market information to assess the external marketing environment, including the market environment, customer segments, market trends, challenges and risks in the context of key issues facing the global theme park industry an understanding of techniques/models to assess the internal environment, including the resource and competency audit, the innovation audit, core competencies, key success factors, strengths and weaknesses, stakeholder analysis and financial performance a resource based view of Walt Disney Parks and Resorts, including an analysis of its approach to enhancing customer value, and the value of this approach in developing further resources and capabilities an understanding of strategic uncertainty/risks in the external market facing Walt Disney Parks and Resorts Page 5 an appraisal of the determinants of strategic options, including past and current strategies, new product introduction, leveraging brand equity, marketing strategies, strengths and weaknesses, capabilities, resources, and constraints and opportunities, the value chain analysis, Porter’s Five Forces analysis, and stakeholder analysis, etc. No marks were awarded for the audit itself, but for how insights from the audit were used to answer specific tasks. Task One A The first part of Task One required candidates to critically evaluate Walt Disney Parks and Resorts’ current brand strategy and the key factors that had contributed to the success of the company within the global theme park industry. The mark scheme allowed 9 marks for knowledge and 8 marks each for evaluation and application. Candidates were expected to draw upon their six page audit, case study and the additional information presented whilst responding to this task. The case study contained extensive information about Walt Disney, The Walt Disney Company and Walt Disney Parks and Resorts and in particular development of Disney brand over a period of time (role of Walt Disney since 1955 in enhancing brand’s credibility and reliability at a global level, brand extension and brand integration strategies adopted by Walt Disney both in the USA and at global level, brand focus, brand associations, brand recognition, brand image with very strong brand equity, customer loyalty and customer service experiences - Disney being the 43rd Global brand worth US$17 billion in 2012, etc.). While answering this task, the candidate was expected to draw upon and utilise this information and evaluate Disney’s brand strategy and key success factors (e.g., excellent utilisation of fixed assets, good customer service, innovation capabilities, breadth of product line, technological know-how etc.,) that have contributed to the success of the company in the global theme park industry. The candidate was expected to show a good understanding of relevant theory (e.g., brand strategies, brand equity, key success factors) and link with their own six page audit. Those showing good strategic insights were rewarded. Task One B The second part of Task One required candidates to critically evaluate the resource based view of Walt Disney Parks and Resorts and the value of this approach in developing resource and capability to deliver its vision and mission. The mark scheme allowed 9 marks for knowledge and 8 marks each for evaluation and application. Candidates were expected to draw upon their six page audit, case study and the additional information presented whilst responding to this task. The case study contained extensive information about Walt Disney Parks and Resorts and its parent company, its mission (to be one of the world’s leading providers of entertainment), and its tangible assets, such as financials, borrowing capacity, physicals like the effective use of underdeveloped areas in key locations for theme parks), and its intangibles assets, such as reputation of its brand, the strong affection of millions of people of different nations and different generations of the Disney brand name and image, and the Disney characters; Page 6 the organisational culture, human resources in skills, know-how and the motivation of employees, etc). The candidate was expected to critically evaluate the resource-based view of Walt Disney Parks and Resorts, and the value of this approach in developing resource and capability to deliver its vision and mission (eg, the use of a resource based view for building organisational capabilities, strategic analysis, positioning and global marketing strategy formulation to achieve sustainable competitive advantage). The candidate was expected to show a good understanding of relevant theory (a resource-based view and the value of this approach in generating competitive advantage), arguing that Walt Disney Parks and Resorts had been able to internally develop its key resources to create competitive advantage and generate profitability. In doing so, the candidate was expected to show a good understanding of Walt Disney Parks and Resorts’ resources (including tangible, intangible and human resources), its capabilities (its capacity to undertake specific activities) and its competencies (these are capabilities that are fundamental to Walt Disney’s strategy and performance). Task Two A The first part of Task Two required candidates to critically evaluate the appropriateness of innovation and new product development and the related factors impacting upon marketing decisions within Walt Disney Parks and Resorts. The mark scheme allowed 3 marks each for knowledge and evaluation and 4 for application. The candidate was expected to draw upon their six page audit and in particular their innovation audit, the case study information and additional information presented whilst responding to this task. The case study contained extensive information about Walt Disney Parks and Resorts and its parent company and the continuous need for innovation and new products, new service and new experience development to retain visitors, to encourage repeat visits and to consistently manage and deliver customer experiences. The case study included detailed information about investment in new rides and attractions and in technology to maintain interests in their theme parks. While answering this task, the candidate was expected to draw upon and utilise this information, demonstrating an understanding of role of innovation and new product development examining key indicators, determining strengths and weaknesses, and identifying ways of innovation throughout Walt Disney Parks and Resorts as a mechanism for creating and sustaining competitive advantage. Task Two B The second part of Task Two required candidates to critically assess THREE strategic marketing options available to Walt Disney Parks and Resorts to achieve growth and profitability within the global theme park industry. The mark scheme allowed 5 marks each for knowledge, evaluation and application. The case study contained extensive information about key issues facing the global theme park industry including managing the customer experience, high levels of investment in new products and services and need for innovation using new and latest technology, rise of themed entertainment, customer service issues including managing queues, food provision, weather and seasonality issues and the impact of economy, etc. Page 7 The candidate was expected to draw upon and link with this information and also their own audit and critically assess THREE strategic marketing options in sufficient depth so that the company achieves growth and profitability within the global theme park industry (while keeping in mind the organisational constraints, resources, competencies, capabilities, customer behaviour, competitive issues and risks). The candidate was expected to identify relevant theoretical principles and models (e.g., Ansoff matrix, Differentiated/Undifferentiated marketing strategies including segmentation, targeting and positioning, BCG matrix or Porter’s Generic Strategies) commensurate with postgraduate level and apply these demonstrating strategic insights rather than tactical solutions. Variation in answers is expected. Good answer was expected to link with theory, show good understanding of strategic marketing options to achieve growth and demonstrate strategic insights rather than tactical solutions. Task Three A The first part of Task Three required candidates to recommend, with justification, ONE strategic option they felt Walt Disney Parks and Resorts should adopt. The mark scheme allowed 3 marks for knowledge, 4 marks for evaluation and 3 marks for application. The candidate was expected to draw upon their six page audit, case study information and additional information presented whilst responding to this task. The candidate was expected to recommend and justify a valid and viable strategic option (only one option), providing a valid justification and rational for their choice. This could demonstrate some assessment of suitability, feasibility, potential, validity and vulnerability associated with the chosen option. There were a number of possible answers, and a recommendation fitting the strategic needs of Walt Disney Parks and Resorts was expected reflecting on competitive advantage, value creation, proposition and differentiation, Walt Disney Parks and Resorts’ institutional strengths, views of stakeholders and checking against distinctive competencies. A good answer was expected to reveal strategic level thinking and insights rather than tactical solutions or generic and superficial ideas. Task Three B The second part of Task Three required candidates to Critically assess the strategic risks facing Walt Disney Parks and Resorts in adopting the strategic option outlined in Task Three (a), and recommend relevant strategies to address these risks The mark scheme allowed five marks each for knowledge, evaluation and application. The candidate was expected to draw upon their six page audit, case study information and additional information presented whilst responding to this task. The case study contained extensive information about Walt Disney, The Walt Disney Company and Walt Disney Parks and Resorts and a range of risks facing the company (e.g., failure to handle issues involving long term corporate agreements, failure of handle global supply chain issue, lack of ability to invest substantially and commit resources, inability to Page 8 initiate and implement high cost and high risk business strategies, inability to recruit and manage human resources including key personnel, inability to manage customer expectations, experiences and value, failure to manage and respond to uncontrollable events, failure to respond to changing consumer needs and local cultural requirements, failure to protect electronically stored data, failure to cope with increasing cost of pensions, employee welfare and health benefits, failure of handle labour disputes effectively, failure of manage seasonality and changes in technology, etc). While answering this task, the candidate was expected to draw upon and utilise this information demonstrating an understanding of strategic risks in adopting the chosen strategic option and relevant mitigating strategies to address these risks. The candidate was also expected to link with the six page audit and demonstrate a good understanding of relevant theoretical principles (e.g., risk assessment and impact analysis) while responding to this task. There were no A grade scripts. There were some grade B scripts revealing a very good understanding of various areas of the syllabus, including a strong ability to critically appraise, evaluate and apply material from the case study and the new information presented on the exam day. Grade B answers demonstrated a very good understanding of relevant theoretical principles, strategic insights and application to the given context. Grade C scripts demonstrated a reasonable level of understanding of various areas of the syllabus, including a good ability to critically appraise, evaluate and apply material from the case study and the new information presented on the exam day. Grade C scripts revealed a reasonable understanding of relevant theoretical principles, strategic insights and application to the given context. Analysis of the assessment Statistics: The overall pass rate for the March 2013 Analysis and Decision assessment was 49.68%. The grade profile for the March 2013 assessment was as follows: Page 9 General comments: Overall, there were candidates who showed good insights into the theory and made some efforts in evaluating and applying concepts. There were no A grade scripts and only few B scripts suggesting a reasonable performance revealing a limited amount of academic underpinning, description and use of models by those who passed. Strengths and good practices by task (including examples of best practice): Stronger candidates showed reasonable insights into the case study, demonstrating clear understanding and application of theory, description, and the use of relevant models. Understanding of Ansoff was particularly good when candidates were asked to pose a number of strategic options. There was also a reasonable insight into the case study perhaps due to the fact that this was the second outing of the Walt Disney Resort case. Generally speaking, Task Two was answered relatively well and there was some good use of theory at places. Task One A – All candidates answered it. Most coped better with part 1(a), than they did with part 1(b). Candidates who did well grasped that they were required to evaluate both the current brand strategy and the key factors contributing to the success of WDPR. Strengths lay in the ability to reproduce basic theories, which were clearly understood by many candidates. Stronger answers included some application of branding models which reflects good practice. Task One B – Not many were able to respond well to this task and there were significant variations in the way this task was handled. Stronger candidates were able to assess a resource-based view and evaluate the value of this approach in developing resources and capabilities to deliver vision and mission. However, understanding of the resource-based view varied widely between centres and candidates. Task 2A –Not many were able to answer this task well and there was quite a bit of variation in the way candidates attempted to answer this task. Only stronger candidates were able to critically evaluate appropriateness of innovation and new product development and related factors impacting marketing decisions with WDPR. Task 2B - On the whole, candidates answered this question well and better answers were usually underpinned by relevant theory (e.g., Ansoff matrix). Task 3A – A majority were able to recommend a strategic option and good candidates used the SAF framework while justifying their option. Good answers clearly drew on material from the case study and their own analysis to provide strong justification for the chosen option. Task 3B – Not many were able to handle this task well and there were variations in the way candidates responded to this task. Very few were able to critically assess the strategic risks in adopting their chosen option and recommend relevant mitigation strategies. While there were variations in candidates’ answers across the board, some examples of good practice include: a) following the required report format (eg, starting with a proper memo heading) b) a brief introduction highlighting the importance of task in a broader context making references to the six page analysis and case study material as and when needed c) using insights from the six page audit instead of making a passing comment, and Page 10 c) understanding the required focus of the question and responding with appropriate details. For instance, while responding to the requirement of first element of Task One, a candidate wrote the following: Brand Strategy Evaluation Current brand strategy: To be the “happiest place on earth” offering experiential unique experiences – To be a safe, nostalgic, fantasy world and a source of joy for the whole world. This translated clearly into the brand values (as highlighted in Fig 11 of the strategic audit) as well as in the intellect and culture of the brand. The brand focuses on building awareness of its heritage and famous characters and ensures its values and culture are translated across all product offerings within its parks and resorts. For example: - “Cast members ensure every person is treated as a VIP - High class family friendly and safe facilities - Clear and concise standardise branding across the globe The brand has also benefited from (Fig 24): - The strength and extent of the organisation distribution channels - Full understanding of its core target audiences (young children), their needs and expectations, as well as the expectations of the whole family. - The longevity of the WD characters These have all lead to the true success of the Walt Disney Parks and Resorts brand through - Customer awareness and recognition - Customer being able to relate to the brand values and be attracted to it emotionally - Global recognition of the branding - Being favoured parks and resorts across the world as is evident in its market share (Fig 6); 62% of the whole market. This is no doubt was also contributed by taking an aggressive strategy with strong financial strength (Fig 20). However, further evaluation highlights key areas of weaknesses that could pose a potential threat: As Highlighted in Fig 10 – a breakdown of key brand elements highlights that although WD brand is very strong in communicating its benefits and values, it currently is quite weak when it comes to: a) development and responsiveness; this is evident in how it currently responds to the changes in the market or cultural demands: - buying Marvel and Pixar to appeal to boys - adopting its product offerings in France to appeal to new culture Page 11 Although they are good responses, they should have been problems anticipated. In terms of development, WD currently seems to be following competition innovation rather than lead that area as it does with expansion. b) relationships; a weaknesses in development and responsiveness reflects on the relationships it has with its customers. With such tough competition from Universal and Merlin and with the current economic conditions WD could be in danger of loosing repeat visits if it cannot keep up with the changing consumption and behavioural patterns. c) differentiation; Although the assessment of brand values shows that they do resonate with customers in Western cultures (being rite of passage for children in USA) - many competitors are now eager to tap into this target audience and offer them more interactive experiences - In the East, competitors such as OCT are focusing on delivering spectacular shows that truly resonate with the Chinese market. How is WD differentiating itself from the competitors? The WD brand can also face the issue of brand dilution because of the licensing complexity of Marvel in Florida. Customers there would associated Spiderman with Universal yet elsewhere it’s Disney. Conclusion: As previously discussed the brand values and cultures do resonate quite strongly within the Western world, however, WD may face some new challenges when entering new markets (as it plans to do so in the China) where its core values may not be as relevant. Cultural adaptability is therefore required (Fig 11). Using the brand-sphere to assess the suitability (Fig 13) also indicated that the macro environment (cultural sensitivities, consumption patterns) as well as competitors (differentiation and market share) are key areas that WD needs to capitalise on. A candidate while responding to the requirement of second element of Task One, wrote the following: The resource based approach does not propose to substitute strategy. In essence it is aimed at locating threshold capabilities, resources and attempt to establish core competences that are unique beyond imitation from competition. In evaluating the resources that DPR hold, we are try to measure how the resources contribute to value creation to the target customers. WDPR has the following resources and competences that contribute to the delivery of its mission and vision statements of dominating the theme park business through targeting children and families: i) Resources – The company has a huge capital outlay that enables it to finance its growth strategies and service developments. As the market leader it records the highest visits in every market it is present therefore contributing to the further expansion through acquisitions, organic growth and strategic alliances. - It also commands a supreme infrastructure (reference section 10.0 – value chain analysis) that enables it to enjoy economies of scale that are a result of its size. - Its human resources under the value chain analysis operation under the innovative culture set by the founder. It enables the human resource to provide excellent customer service since they are the market leader, inherently they set the market standard of service. Page 12 - Organizational size – the company is the biggest in the industry using all forms of measurement, market share, revenue generation and number of employees. This give is competitive advantage. - However such resources only have an impact if they constitute towards continued value enhancement through service development and improving customer experience. That speaks to the need to invest in market research to manage [….] ii) Competences and capabilities - The company has a strong competence in brand management leading to the development of Disney with strong brand equity. This gives it leverage to easily expand into emerging markets using the parent name that has a strong emotional value and loyalty. Globally they are providing an experience to the children and families. -The company has been at the leading edge of technological advancement endeavours (see section 10 – value chain). This lead to it introducing applications for smart phones that tracks waiting periods, building a strong range of film characters and integrating them into the theme park industry. - The 7s framework also assist in evaluating the company’s competences as it locates the company’s strategy, structure, staff, shared values, skills, systems and style (see section 11.0 – the 7s Framework). - Strategy: This is a critical competence and capability that sits on the company’s resource base. Disney is using a differentiation strategy as a means to create value to its target groups. - Structure: It is a critical competence as it is decentralized ranging from Disneyland Paris, Disneyland Tokyo etc., The theme parks operate as SBUs therefore being highly responsive to the needs and wants contributing towards the vision statement. - Shared Values: The value system as outlined in the case study and market audit are: innovation, efficiency, show courtesy, safety, culture. These shared values constitute immensely to the distinct customer service that is regarded as the industry standard. - Skills: Employees constantly receive training due to ever changing technology. - System: Innovations trigger the changes in the industry and the company therefore employee powered systems to interact with customers […]. - Style – Decentralised and empowering employees to innovate. This is done in the confines of the corporate culture. It also adapts to the cultural differences in the countries it operates in [… the candidate continues and makes some useful recommendations]. In response to the requirements of first element of Task Two, a candidate wrote the following: Innovation is a key driver for services in the global theme park industry. As seen in my analysis (refer to audit – mindmap), there is a constant need for innovation for one to thrive in the industry. It is therefore very important that Disney keeps innovating to remain both competitive and relevant in the industry. As can be seen in the case study page 26, Disney’s success was largely due to the innovations in the animations that gave him themes to incorporate in the parks like Mickey mouse and others, Additionally, through airing these animations in different television stations, a lot of public appeal is created which entices people to come and witness the fairytale within the parks. As can be seen on page 27 of the case study, Universal achieved great success due to the ownership of the Harry Porter story which they developed into a theme in their parks. It should be noted however that innovation in the industry is very expensive and must be undertaken with thorough calculation lest the investment does not yield the results, especially in this economic turmoil Disney is operating in. Page 13 Evidenced by the analysis models, SWOT under threats (please refer), these is a need for Disney to have a signature ride in their parks. Other players like Six Flags and Ferrari Wolrd) would own the tallest and fastest roller coasters in the world. This has given a lot of mileage against competition. It is therefore imperative that Disney develops a signature ride unique to their parks; probably the largest ride so that they create a unique offering to their clientele that can only be found in Disney parks. Disney though has to be mindful of the costs available and ensure that the investment into the signature ride gives the anticipated and desired results. Innovation is also important for Disney as it would help in cutting costs and increasing profitability. Technology helps create a different offering to customers thus segmenting and targeting better. The use of 3D technology by Universal has helped find them a competitive edge. This, especially because it is cheaper and more easily diffused into the public. However, there is a need to be mindful of the fact that the fast diffusion into the market means it can quickly lose popularity. So Disney needs to ensure that the investment is rendering profits before indulging into technological innovations. A number of factors are impacting on marketing decisions within the WDPR which include the following. Culture is an important aspect Disney considers while making marketing decisions. Fully aware that the theme parks are largely an American orientation. Disney tries to ensure their next marketing action conforms to the cultures of the market in which it will be implemented. Learning from the initial era of standardising their offers in France where more than 3000 people out of 12,000 left them within a month (refer to case), Disney has now learnt that customisation or adaptation is the way to go to fix and succeed in a foreign market. So culture is an important consideration on marketing decisions. The other factor is weather. As can be seem in my analysis model A: PESTEL (please refer to environmental factors) theme parks are largely an outdoor activity which rely on regular sunshine. This is what has helped the parks to grow in California and Florida parks which enjoy all year sunshine. Disney therefore puts enough consideration on the weather in a foreign market to determine marketing decision. This would partly explain why there is no Disney presence in Latin America and Eastern Europe where is unreliable and little sunshine all year around. Another factor is population, both numbers and growth. As seen my PESTEL analysis, populations play an integral part to the success of theme parks [….]. In response to the requirements of second element of Task Two, a candidate wrote the following: As a consultant having worked on various projects in the global theme park industry, one aspect that would help WDPR grow profitably would be Corporate Social Responsibility (CSR). This considers not just customer and profits but also the good the entire community. In reference to the case, the WDPR does not have a lot of CSR initiatives evidently coming out and Merlin is having an edge over WDPR (refer to page 4 of the analysis – Merlins’ CSR effort). Also refer to the same page and Table 22: Dimensions of CSR, some dimensions are met, for example, training of staff as well as information provision […] This is marketing strategy that WDPR should consider as its another source of competitive advantage in the global theme park industry. Market Development is another market strategy that WDPR should consider for profitable growth. This is something it has already done by can further do especially for the emerging markets such as India, Russia, China and Hong Kong as seen in the case study. Entering new favourable and attractive markets such as Asia is supported by facts such as 60% of the world population, a growth in China’s middle class, strong economic growth in India, rising prosperity and few cities having theme parks plus assured scope for growth targeted to overtake North American market justifies the strategy proposal although WDPR ought to Page 14 do research, internalise how to access the markets and be able to sustainable. Markets are diverse in culture. I therefore recommend entry through partnership, joint ventures and strategic alliances where possible. This will minimise or transfer risks, mitigate or avoid entry barriers and east adaptation. WDPR must also be conscious that various market players are also aware of this opportunity and are working beforehand. Refer to the analysis for Table 3 – SWOT analysis, Market Analysis, page and page 20 of the case for key factors for success. Another marketing strategy that I would recommend is market penetration as another strategy for growth and profitability within the global theme park industry. Whilst North America is a mature market, Disney is still a market leader and would defend the position. Refer to Analysis page 3 (Disney Performance in America 2011 and 2010) at 55% and 56% (visitor numbers). Florida and California are especially open all year around and are still the best performing (refer to page 3 of analysis with 63% and 64% in 2011 and 2010). Considering all the three strategic options will contribute to growth and profitability of the WDPR but it is imperative that both pros and cons are evaluated and also consider the customer, competition and employees as key role to play. Similarly another candidate wrote the following while responding to the requirements of second element of Task Two: Three strategic marketing options: 1. Expansion into new emerging markets Disney’s total revenue generated in 2011 – 75% was from US alone. Its operations are mainly concentrated in US and Canada. Global theme park market is forecast to rise in value of US$29.5 billion in 2015. As per table on page 5 in audit analysis, Disney’s industry attractiveness is aggressive – it enjoys competitive advantage and hence it needs to diversify its market presence. As Disney is well known all over the world, its brand itself will attract many visitors. It is important to choose the right country, understanding the economies of the country and demographic challenges. Considering the above factors, expansions into emerging growing markets will result in growth and profitability of WDPR. 2. Increase in customer loyalty Second strategy that Disney could undertake to increase its growth and profitability is retention of visitors or repeat of visitor numbers. Most of the theme parks rely on repeat number of customer visits. By preparing an appropriate customer loyalty strategy – Disney can increase/monitor its customer visitors. Following model can be utilised to retain visitors/increase repeat customer visits - candidate continues by drawing and labelling a table for customer loyalty stages and discussing each of the stages involving engaged customers, frequent visitors, active visitors, passive visitors and prospects]. 3. Differentiation strategy Visitors’ experiences in the theme park are very important. If it is a good experience, there is every possibility of revisiting - otherwise other forms of entertainment are sourced. WDPR can differentiate in following ways to achieve growth and profitability within global theme park industry: Page 15 i) Products: Rides, shows, interactivity, themes – all can be a wonder product as experience to visitors. By providing innovation to its products, WDPR can increase visitors on a regular basis. ii) Service – Dinning, shopping, welfare facilities, customer service in other areas where WDPR can show differentiation due to its number of years in the industry and achieve growth iii) Accessibility – logistics (transport facilities), infrastructure development etc., may be improved and market as differentiation iv) Relationships – corporate tie ups, sales training, relationship through brands, awareness in schools – all the above can he a differentiation to achieve growth and profitability. While responding to the requirements of first element of Task Three, the candidate wrote the following: I strongly recommend that WDPR should adopt market penetration for the reasons below. As per my models (S): Ansoff Growth Strategies (please refer), market penetration is where an organization obtains more usage from existing customers and gaining customers from competitors by selling more within the same market. This strategy will suit Disney in many ways. In France (Paris), for instance, Disney is assured of the government’s support in developing more theme parks [….]. Given this and other advantages, Disney can build others parks in the region to ensure competitive advantage. Much as this might work nicely they will penetrate the Paris market, they should bring on visitors who come from across Europe to visit the parks globally and this will ensure continued profitability. The other market to penetrate is the Asian market. Since all the top players are targeting this market, Disney should leverage on its market dominance and financial muscle and use Hong Kong and Japan as launch pads to capture and dominate markets like India, China, Korea and others where they do not have operations yet although the market is ripe. Asia will provide a great business opportunity if they utilised it better; basing on their operations in Japan and Hong Kong [….]. Another reason why they should market penetrate is because of their vast market knowledge. No body (competitor) knows the global theme park industry better than WDPR. They have seven operations in the US alone with knowledge of Europe and Asian as well. They should use this hard earned knowledge to gain more from the markets., Since they are a global company with vast resources, they can go deeper into the markets in which they operate to gain a competitive advantage. While responding to the requirements of second element of Task Three, a candidate wrote the following: China presents a huge opportunity but at extremely high risks to the corporation. Although Disney knows theme parks, it will need to prove it knows the Chinese customers as well. Many US brands have failed in the Chinese market [….] but Disney must build on the experience of brands that built strong businesses in China such as Microsoft, Starbucks and Coca Cola. Each of these brands has sought strong government support to counter the market risks of government protectionism, corruption and price sensitive clients. They have not underestimated the sophistication of their clients and their desire for new innovations and have empowered their local management teams rather than controlling new projects from a removed US based command centre. Page 16 Disney faces three types of risks: market (as discussed above), competition and firm limitations. The competitive risks are significant. Fig 6 shows competitive rates of growth and they too will be assessing the Chinese opportunity in the same was as Disney. With more innovative competitors assessing the same market (Fig 12), Disney must be quick in their moves and decisions. Appendix 1 demonstrates the dangers of tardiness. A Monkey Kingdom theme park is due to open in Beijing in 2014 of “Disney quality”. This will be one of several and unless Disney moves quickly they will be considered obsolete before they have entered the market. Analysis has highlighted the need for technology and innovation and Disney’s failings in this area. This was revealed to be number one risk in the risk impact analysis of the Disney’s business (Fig 20). To meet Shanghai’s 2016 deadline Disney needs to partner with a firm able to implement levels of innovation not seen at other parks. They must buy in resources where required or risk failure. The final risk involves Disney’s adaptation of its brand and product offering to the local market. It must invest in customer insight and testing before the launch of the park, and cultural concerns should be addressed. For example, “Main Street USA’ familiar in all parks would be unwarranted for a Chinese audience. Holliday patterns should be addressed – Chinese receive 3 specific weeks a year – and tickets apportioned correctly to avoid long queues and customer frustration – all causing a backlash of bad PR. The SERQUAL analysis of Asian markets (Fig 18) highlights empathy and tangibles as the two areas of high potential for customer dissatisfaction and leadership focus must be in these areas. Finally, while responding to the requirements of second element of Task Three, another candidate wrote the following: A risk is to do with uncertainty. There are various sources of risk and the table below highlights the risks as well as recommendations on how to address them. Table: Market Penetration Risks and Recommendations to Address Risk Country specific risks Economy specific risks Business/Industry related risks such as technology and competition Customer/visitor reach and changing patterns Information risk Financial risk Recommendation Approximately 80% of WDPR is in North America where it is subject to geographical specific risks or country based. The most WDPR can do is keep monitoring, sensing and scanning what occurrences impact the business but simultaneously keep penetrating North America specifically Florida and California and enjoy a large market share. In any economy where WDPR operates, anything can happen. Scanning and monitoring and attending to specific practices can help. WDPR should ensure that any emerging technology is protected and cannot be replaced. This can be addressed through continuous research and WDPR becoming more market oriented so as to address what the customer expects This can be mitigated by protection and exclusive rights to employees as well as rewards and recognition of employees so that too are loyal to the company These risks could affect the shareholder value. One of the key Page 17 financial goals (analysis trending into market) should be studied as well as competitor analysis Innovation is also the key in market penetration and the risk concerned. As shown in two (b) of this recommendation innovation ought to be taken seriously as a cultural in all WDPR operations so that the company stays up to meet the market demands. Research into existing external market too ought to be done so that weak market players are bought out hence expanding through penetration. Weaknesses and common mistakes by task: Generally, weaknesses included lack of depth to the analysis and limited underpinning knowledge. Time appears not being invested in learning a wide range of theory, frameworks and models which underpin strategic marketing. This is a major concern as it increasingly appears that candidates and centres are being far too narrowly focused in their approach to syllabus coverage. In reality strategic problems will vary hugely and thus this will require a solid, broad knowledge base in order to respond appropriately. Lack of depth to analysis was another common weakness. Analysis generally remained superficial and tended to simply repeat information provided in the case study – a narrative account. Discussion posed by students tended to be too narrative with less emphasis on analysis and the synthesis of information. Weaker candidate seemed to find questions 1b and 3b the most challenging. Task One A. Weaker candidates wrote descriptively, largely reproducing facts from the case, but being unable to demonstrate criticality. Many were clearly able to describe the factors in the external environment and Disney Park’s strategy but were then unable to link their comments to a critical evaluation. Task One B. Weaker candidates found it difficult to respond to this task revealing a lack of understanding resource based view. There was a tendency to produce a list or short bullet points in terms of discussing internal resources and capabilities and the impact of the external issues upon them. A majority fell short of discussing the value of the approach in developing resources and capabilities to deliver the mission and vision. This perhaps demonstrating limited preparation for the exam. Task Two A. Weaker answers produced superficial details revealing a lack of understanding of innovation and NPD theory. Others listed theory but then were unable to list or discuss the facts from the case. This was surprising, given the significance of innovation in achieving a competitive advantage. Task Two B. While this was handled well by a majority, weaker candidates struggled to apply theory to the context and tended to produce superficial discussion with little consideration for strategy formulation for achieving growth and profitability. Others took too overt a geographic approach unsupported by any particular theory or model. Task Three A. Weaker candidates tended to provide sufficient and relevant justification for their chosen option. Others produced vague and generic comments not relevant to the key requirement of this task. Task Three B. Time management appeared to be a key issue for this task as not many were able to provide answers with sufficient depth and rigour. Generally the task was completed as an afterthought, and probably with only a few minutes left. Weaker answers tended to be Page 18 very short perhaps being rushed and poorly or abruptly finished off. Understanding of strategic risks relevant to the adoption of chosen strategic option and subsequent mitigating strategies remained weak. Recommendations for improved candidate performance: The Senior Examiner would like to make following recommendations to candidates to improve future performance: 1. Cover all areas of the syllabus and in particular need to appreciate the fact that most areas are interlinked with one another. Different elements of the syllabus and theories are interlinked. This time around, a general lack of understanding of the resource-based view and the value of this approach in developing resources and capabilities, relevance of innovation and new product development. In line with previous exam diet, a noticeable weakness was a lack of understanding of strategic risks in adopting chose option and suggesting relevant mitigating strategies. 2. Improve time management and general examination technique. Consider each element of the task and its value in terms of marks allocation, and assign efforts accordingly. Do not waste time in writing lengthy introduction sections or commenting on contextual issues; instead, handle the key aspects of the task in sufficient depth. 3. Provide sufficient details, evaluation, application and rigour in the answers, relevant to the postgraduate level. 4. Avoid producing superficial and tactical answers. There is a need to develop a greater understanding of relevant theories and their implications for strategy formulation. 5. Identify the required focus of the task (what the candidate is required to do) and respond accordingly. 6. Use insights from the six page audit when responding. Do not simply refer to the audit (eg, see Figure 9 of the audit) as the information in the audit in itself cannot be considered as an answer to a task. Also provide a fuller assessment of a particular framework (e.g., resource based view) when this is the key requirement of the task. Possible alternative approaches to addressing a task: There are alternative approaches in tackling a task, and in each case high marks can be achieved, as long as there is enough evidence suggesting the achievement of learning outcomes and a relevant and valid response is provided in the given context. Feedback on the academic quality of the cohort and the quality of the teaching, as judged by the results: The pass rate is on the low side, largely due to the higher than expected failure rate among international candidates, who generally speaking demonstrated, a lack of ability to write in sufficient depth. Also, syllabus coverage continues to be a factor behind the lower pass rate and hence centres/tutors need to be reminded that they should cover the syllabus in sufficient depth. Good candidates understood the linkage among the three tasks and showed good insights into the case and application of knowledge. Understanding of certain parts (e.g., strategic options) of the syllabus tends to be stronger than others (resource-based view, innovation issues and constraints and risks) and tutors are reminded to cover the syllabus in its entirety. Page 19 A significant majority of the candidates continued to append high quality and very detailed audits. This continues to be an important achievement reflecting high quality teaching standards applied at most accredited study centres. Tutors are still advised to strongly recommend to candidates that they need to utilise insights gained from their audits and avoid using pre-prepared answers in order to demonstrate originality in thought and application. Commentary as to whether recommendations made in previous years have been properly followed up: Generally speaking, time management continues to be an issue and needs attention. Not many candidate respond to the last task very well indicating poor time management skills. Also, tutors need to advise candidates to improve general exam technique including the ability to respond accordingly to the relevant weighting of each task. Tutors also need to make sure that different areas of the syllabus are covered in sufficient depth. Recommendations for improving performance in future assessments (for tutors and candidates): Performance can be improved in following ways: 1. Practise past papers and identify key areas of syllabus that have been assessed repeatedly over the years. 2. Practise model answers which should contain sufficient details, evaluation and application relevant to the postgraduate level. Double check model answers for rigour and strategic insights. 3. Improve time management skills and work on general exam technique. 4. Discuss the application of six page audits with the tutor and colleagues. Make sure the answers are based on relevant theoretical models. 5. Read widely covering key text books, academic and practical publications. Make sure all areas of syllabus are covered and not just a few. 6. During the examination, identify the required focus of the task and plan the answer accordingly. Determine how much each task is worth and how much effort should be allocated accordingly. Clarification about any syllabus or assessment changes: No change has been introduced in terms of syllabus contents or assessment methods. Possible future assessment themes: There are some areas of the syllabus that are likely to appear on the future examination paper, and hence tutors should ensure that candidates are familiar with the theory and practices in these areas. Examples include: Page 20 critically evaluating an organisation’s strengths and weaknesses, strategies including brand strategies with consideration of value creation and sustainable competitive advantage evaluating and prioritising a range of strategic marketing options, recommending with justification strategic options given a particular analysis analysing financial implications associated with strategic marketing options; critically evaluating the concept of relationship marketing, stakeholder analysis and innovation audit as a means of achieving growth and profitability evaluating potential risks for the company involved and measures for mitigating risks assessing the potential for organisational constraints to limit an organisation’s success in using any given strategic choice and the range of strategies to address these successfully. Page 21 APPENDIX: ‘POSTGRADUATENESS’ Purpose of this paper This paper has been put together to help tutors with their delivery and facilitation of the units that make up the CIM Chartered Postgraduate Diploma in Marketing (CPGD), which is a Masters level qualification. As indicated by the Senior Examiners’ Reports that are posted to the website after assessment sessions, candidates’ work often lacks ‘postgraduateness’, and this paper sets out to clarify what is meant by this term and provides guidance on how you can help your candidates to achieve what is required to pass the assessments for this qualification. What is required? The syllabi and assessments for the CPGD have been designed to meet the Ofqual and QAA Level Descriptors for a postgraduate (Level 7) qualification, which are as follows: Ofqual definition of a Level 7 qualification Display mastery of a complex and specialist area of knowledge and skills Demonstrate expertise in highly specialised and advanced technical, professional and or/research skills Develop new skills to a high level, including novel and emerging techniques Take significant responsibility for the work of other professional staff, lead and initiate activity Accept accountability in related decision making including the use of supervision QAA requirements of a professional with a Masters qualification Consistently apply knowledge in specific area and demonstrate wider intellectual skills Deal with complex issues both systematically and creatively, make sound judgments in the absence of complex data Be adaptable, show originality, insight and critical and reflective abilities which can be brought to bear upon problem situations Make decisions in complex and unpredictable situations Evaluate and integrate theory in a wide range of situations As clearly illustrated by these descriptors, knowledge alone is insufficient. Additionally, CIM qualifications have been designed with a practitioner-focus and therefore candidates must demonstrate a practical insight into how knowledge at this level can be applied and its efficacy evaluated. Most of you will be familiar with Bloom’s Taxonomy, (Bloom, 1956), which illustrates different levels of thinking and learning: Page 22 The Cognitive Domain – Bloom’s Taxonomy from http://www.learningandteaching.info/learning/bloomtax.htm The CPGD expects candidates to demonstrate the higher levels of these cognitive domains through their work. Indeed, this model has been developed further by Anderson and Krathwohl (Anderson & Krathwohl, 2001), who added ‘Creating’ above ‘Evaluating’, arguing that at Masters level, candidates should be creative in their own thinking By way of explanation, candidates need to be able to do more than simply apply their knowledge to a variety of business contexts. At postgraduate level candidates need to be able to assess the relevance of different theories and concepts for a particular business situation and justify why they would, or would not, recommend their use as a basis for current practice or indeed as the rationale for changing business practice. This ability requires candidates to engage with a range of concepts and theories - evaluate them for their suitability (critical analysis) and then develop a rationale for why they are appropriate. It may be that established models need to be adapted or extended in order to be suitable. Creative thinking should be encouraged as it will be rewarded. It is also necessary for candidates to be able to appraise the effectiveness of their plans, actions and recommendations and so detail practical ways of measuring success against set criteria – critical evaluation. Postgraduate study is more than amassing information; it should challenge conceptual thinking and encourage candidates to assess things from various perspectives, and to develop (and justify) their own opinions in connection with these concepts. In applying theories to different contexts they will see that ‘one size does not fit all’ and have to be able to adapt their conceptual thinking. In so doing, candidates will refine their problem solving ability and become more confident in dealing with complex and unpredictable events. As well as the here and now, postgraduate thinking is also about lateral and forward thinking, and this shift in mindset is crucial to strategic thinking. Instead of principally thinking about departmental issues, the strategic approach requires candidates to consider matters from an organisational, or even a business sector perspective, balancing the needs of different parts of the organisation to meet corporate objectives. Tutors need to encourage critical thinking and the evidence of this is that candidates can substantiate their views; this assumes that they have formed a view of their own rather than simply regurgitated what they have read about. And, as well as supporting their arguments and opinions with appropriate concepts, they need to be able to explain the relevance of the Page 23 diagrams, tables, figures and facts that they draw on, either from their own research or from the case study material that is provided for some of the units. A rich source of information about critical thinking can be found from: www.criticalthinking.org but here it might be good just to reflect on what this term actually means – here is one definition found on this site: "Critical thinking is the intellectually disciplined process of actively and skillfully conceptualizing, applying, analyzing, synthesizing, and/or evaluating information gathered from, or generated by, observation, experience, reflection, reasoning, or communication, as a guide to belief and action. In its exemplary form, it is based on universal intellectual values that transcend subject matter divisions: clarity, accuracy, precision, consistency, relevance, sound evidence, good reasons, depth, breadth, and fairness..." A statement by Michael Scriven & Richard Paul {presented at the 8th Annual International Conference on Critical Thinking and Education Reform, Summer 1987}. People’s values are likely to impact their thinking and useful discussion can be had with candidates as to why they hold the views that they do about business direction and leadership, and how these values influence decisions that they are likely to recommend. Kratwohl, Blook and Madi (1964) considered values to be part of the ‘affective domain’ and suggested that candidates studying at higher levels should be able to distinguish their implicit values through analysis. The Affective Domain – Bloom’s Taxonomy from http://www.learningandteaching.info/learning/bloomtax.htm Addressing the issues CIM’s Senior Examiners at this level say that far too many assessments currently submitted are theoretical, operational and not contexualised; too few are strategic. What can be done to address these issues in the way you teach and facilitate learning whilst candidates study the CPGD? Firstly, candidates do need to have a broad knowledge base; they need to be familiar with the concepts and theories covered by the syllabi of the unit(s) they are taking, but this is not enough! They need to be able to understand this knowledge not just from a marketing perspective, but from that of the organisation and the sector, with an in-depth appreciation of the business environment that affects both. Secondly, candidates need to use their knowledge to answer the tasks/tasks set. This may seem obvious, but this represents the most common problem seen in both examinations and Page 24 assignments. Currently, much of the work submitted may be relevant but it does NOT demonstrate the outcomes highlighted through the Ofqual/QAA Level descriptors listed at the beginning of this paper. Raising the bar The CPGD is a postgraduate/Masters level qualification in marketing and it assumes that candidates already have a comprehensive background in marketing. Do the candidates you are recruiting meet the entry criteria? If so, they should have the underpinning knowledge they need. If you are not sure, ask your candidates to take the diagnostic test for Level 7 that is on the Tutor Zone. You can access it using the following link: http://qm.cim.co.uk/perception5/open.php (The username and password is the same, namely: DN Tool-1). In addition to this, are your prospective candidates ready to study at postgraduate level? Do they realise that they will be expected to study independently as well as to participate with sessions that are facilitated by their tutors? At this level, we usually recommend that candidates should expect to spend between three to five times the amount of time in personal study as they do in guided learning from their tutor; a 10 credit unit should take approximately 100 hours of study, a 20 credit units approximately 200 hours. Part of this personal study will involve reading extensively around subjects covered by the syllabus – there are no set texts that cover the whole syllabus of any of the units of the CPGD, so candidates should expect to dip in and out of several texts for each unit in order to cover the syllabus and to appreciate the topic from different authors’ perspectives. A student going to university to take a Masters degree would not expect to pass without going to the library to access a wide range of different texts and journals to complete their studies; the same should be the case for people taking the CIM’s Chartered Postgraduate Diploma. The CPGD is a professional qualification so as well as being well-grounded in academic marketing theory, candidates need to be able to relate these concepts to the business environment and so should also be reading the marketing press, relevant trade journals, market/company reports, blogs and weblinks. Business case studies need to be used in the delivery of the programme to stimulate discussion about the challenges of applying theory to practice in different contexts, and drawing on candidates’ experience will help to enrich this debate. There is also another challenge; some candidates are good at expressing their views verbally but need help to organise and present them in a way that meets the Level 7 descriptors and the assessment criteria of the tasks/tasks set. They need to be able to develop coherent arguments that are well supported by relevant writers in such a way that if they were consultants, a Chief Executive would be prepared to pay good money for their work. This means that they need to stick to the brief and deliver what is required within the constraints that have been set, including the budget. For assignments, this includes acknowledging and referencing all sourced material accurately using Harvard referencing, and all work should be proof-read to ensure that it does not contain basic grammatical or formatting mistakes – avoidable errors that cost valuable marks. Many candidates need help with how to present their ideas at a level that would be deemed ‘strategic’, and feedback on draft work or on answers to tasks from past papers should include format, tone and presentation as well as the content of what has been presented and how arguments are supported with academic theories. This is particularly important for candidates that have not done academic studies before (or completed them a long time ago). What differentiates a pass from a fail, and different grades for CIM units at Level 7? CIM has put together Grade Descriptors for each level of its qualification which outline the expectations for various grades. This document can be found attached to each assignment Page 25 brief. The same principles are applied when grading examination papers. The Grade Descriptors for the CPGD are attached to this document as Appendix 1. It should be noted at this point, that whilst examination scripts and assignments are considered holistically, they are marked using a marking scheme and at this level the ‘Magic Formula’ is applied in approximately the following proportions: Concept Application Evaluation Presentation 15% 30% 45% 10% It might help to clarify the thinking behind this model as it is open to misinterpretation. It was originally put together to help differentiate the requirements between different levels of study. When considered as a whole, the amount of marks available for ‘concept’ decreases as you go up the levels; ‘application’ and ‘presentation’ remain the same; and the amount of evaluation increases as you progress up the levels, as can be seen from the table below: Magic Formula across the levels Concept CIM Introductory Certificate (Level 3) CIM Professional Certificate (Level 4) CAM Diplomas (Level 4) CIM Professional Diploma (Level 6) CIM Chartered Postgraduate Diploma (Level 7) Application Evaluation Format and Presentation 45% 30% 15% 10% 40% 30% 20% 10% 40% 30% 20% 10% 30% 30% 30% 10% 15% 30% 45% 10% It is worth explaining what is meant by this as it is essential that candidates understand how their work will be marked. They can then use their understanding to their advantage.. ‘Concept’ relates to theories, models and concepts, and marks for concept are given when candidates provide information about a topic, which might include definitions, explanations, diagrams, models, general examples, etc. The important thing to note here is that the material is usually provided in a generic way and is not related to a given scenario. Some candidates appear to spot key words in a task/question and then ‘tell us all they know’ about a subject without answering the question/task set, and their work may well be annotated with ‘TD’ = theory dump. Whilst some marks will be available for concept, and candidates at the lower levels are likely to provide more material on this basis, large quantities of generic material is not appropriate at the higher levels. In all cases, candidates should avoid simply repeating material in the case studies provided; this wastes valuable time in the exam or words in the assignment and gains no marks – the examiners are already familiar with the case study! ‘Application’ is exactly what it says – the application of theories and concepts; it is essential that relevant concepts are related to case study material or a given or chosen scenario and that candidates demonstrate their understanding of both the concept(s) and the situation by Page 26 relating the two. Examiners will expect to see models populated by text that shows that the student understands how the organisation fits the chosen model, or an explanation as to why it does not. At the higher levels, candidates will be rewarded for extending or adapting models that otherwise do not automatically fit a business situation. CIM qualifications are practitioner-focused so application demonstrates that candidates are able to use and adapt what they have learnt to a variety of marketing and business situations. ‘Evaluation’ includes a range skills that ultimately demonstrate insight; at the lower levels it will include doing some straight forward analysis and drawing conclusions from that analysis; it will also include making recommendations. At higher levels, we expect candidates to be critical in their approach by using models, concepts and techniques in their analysis and to compare the results obtained. We would expect candidates at this level to be able to assess an organisation’s capabilities and assets, and the opportunities presented by the market. They may also use these tools to justify their conclusions and to support the rationale of any recommendations, or as the means for critical evaluation, eg, of the outcomes of a plan. The essence of this skill is to use concepts and theories to provide objective reasoning – in both analysis and evaluation. If the student expresses an opinion, they need to be able to substantiate that view with a reasoned argument. If an examiner reads a student’s piece of work and can ask ‘How?’ or ‘Why?’ then insufficient rationale has been provided; to gain good marks, justification needs to be given and should include references to relevant concepts and theories. So, it should not be assumed that only up to 15% of the marks available at postgraduate level can be obtained from what people have learnt, many more are potentially available from both ‘Application’ and ‘Evaluation’ if candidates apply this material and use it to support and justify their arguments. Candidates need to be able to ‘pick and mix’ from what they have learnt, integrate relevant theories and ideally, synthesize their knowledge to create innovative solutions to complex and unpredictable business situations. We often see evidence that candidates can analyse a situation but then lack the insight into how to implement a solution that takes account of the practical issues of eg, obtaining buy-in, gaining commitment from external stakeholders, leading the change process. ‘Format and Presentation’ – up to 10% of marks are available for work that is presented in a professional way using the format requested and the appropriate tone given the audience suggested in the question/task. Additionally, assignment-based work must have all the sourced material in contains acknowledged within the text and suitably referenced using the Harvard Referencing protocol. These are ‘easy’ marks that are within the candidates’ control, particularly when the assessment is not done under time-constraint. There is no excuse for poor spelling or grammar as work should be checked carefully prior to submission. Candidates should avoid ‘walls of words’ and unless the question/task asks for something else adopt a ‘report style’ by using headings and sub-headings as a way of sign-posting key points and different sections of work. In an examination, some time spent planning is usually time well spent as candidates’ work then tends to be more progressive and coherent and less repetitive. Candidates may well need to practise organising and presenting their ideas under time-constraint conditions as sometimes people who can put together strong arguments verbally are not always as good at doing this on paper. All too often, under the pressure of time, candidates seem to resort to operational and personal perspectives rather than structuring their ideas in a strategic and objective way. Candidates need to be skilled at understanding what is required in an exam question and then to plan their time according to the marks available for the different parts of the paper they need to complete. Meeting the assessment criteria for assignments is similar in that candidates should apportion their work according to the marks available for different tasks. Page 27 At Level 7 candidates may be asked to present their work in a number of different formats. It is important that they do this if they want to pick up the marks available for format Within the specified format they should adopt a tone and approach suitable for the intended audience including financial analysis where appropriate. The different formats that might be asked for at this level are outlined in Appendix 3. Communication is an essential skill for any marketer, particularly those functioning at senior level. Therefore, being able to communicate effectively is an integral part of achieving this qualification. Many of the skills and competences developed in the process of meeting the learning outcomes will develop professionalism and increase candidates’ personal marketability. Leading Marketing The CPGD has two stages, and ‘Leading Marketing’ is the second stage of this qualification. It provides a practical framework for candidates to put into practice many of the learning outcomes that will have been achieved by completing Stage One of the qualification. The course provides the opportunity for candidates to apply academic knowledge to business situations at strategic level, and the assessment requires them to design, implement and evaluate a strategic business project. The business project will exploit the opportunities offered by, or minimise the threats posed by, an emerging marketing theme within their organisation and/or business sector. The intention of the programme is that tutors will facilitate candidates’ understanding of what is required, and then help the candidates to establish ‘action learning sets’ (ALS) whereby much of the learning will be achieved through candidates sharing issues and problem solving with each other. As well as the business project candidates have to assess their own skill set prior to implementing their strategic project and, with the support of a business mentor, to identify skills which need further development if they are to function effectively at senior level. Candidates are required to record and reflect on their experiences in a learning log and, with the support of their business mentor, to develop these areas of professional competence. The self-managed learning experience of Leading Marketing will add value to the student’s organisation and/or business sector and develop their personal and professional skills, knowledge and behaviours. For candidates who have been recording their CPD, it will also provide a route to Chartered Marketer as well as the Chartered Postgraduate Diploma in Marketing. A Student Handbook has been written to guide candidates through the learning and assessment process of this unit, and the outcome – their 16,000 word project will be a powerful testimony to their learning and achievement. Summary The Chartered Postgraduate Diploma in Marketing was designed to enable candidates to: make the transition into strategic management work more cross-functionally at a senior management level make a significant contribution towards the organisation’s corporate and business strategy contribute to board decisions demonstrate a high level of leadership and influence. Page 28 The intention of this document is to provide tutors with an insight into how to help candidates achieve this qualification and establish them as ‘professional practitioners’ in the field of marketing who can contribute to an organisation’s success. References Anderson, L.W. & Krathwohl, D.R. (eds) (2001), A Taxonomy for Learning, Teaching, and Assessing: A Revision of Bloom's Taxonomy of Educational Objectives. New York: Longman Bloom, B. S. (ed.) (1956), Taxonomy of Educational Objectives, the classification of educational goals – Handbook I: Cognitive Domain New York: McKay Websites www.criticalthinking.org www.learningandteaching.info/learning/bloomtax.htm Page 29 APPENDIX 1 Chartered Postgraduate Diploma in Marketing (Level 7): Grade Descriptors Grade A Grade B This grade is given for work that This grade is given for work that meets all of the assessment criteria to meets all of the assessment criteria to secure at least 70% and secure at least 60 % and demonstrates a candidate’s ability to: demonstrates a candidate’s ability to: Concept 15% Application 30% Evaluation 45% Presentation 10% identify relevant theoretical principles commensurate with postgraduate level and critically apply and evaluate these within a senior marketing management context using originality of thought critically analyse complex, incomplete or contradictory areas of knowledge of a strategic nature and communicate the outcome effectively synthesise information, with critical awareness, in a manner which is innovative and original utilise knowledge, theories and concepts from the forefront of the discipline/practice, demonstrating a mature and analytical understanding and awareness of managing and working at a strategic level produce reliable, valid and incisive conclusions and strategic recommendations based on findings critically evaluate marketing concepts, theories and methodologies, arguing alternative approaches, with evidence of an exceptional level of conceptual understanding of strategic issues apply initiative and originality of thought in problem solving and make decisions in complex and unpredictable situations engage confidently in academic and professional communication, reporting on actions clearly, autonomously and competently Grade C This grade is given for work that meets enough of the assessment criteria to secure at least 50% and demonstrates a candidate’s ability to: Grade D This grade is given for borderline work that does not meet enough of the assessment criteria to secure a pass and is within the band 45 49%. This may be due to: repeating case material rather than evidencing knowledge of the marketing discipline at Postgraduate Diploma level identify relevant theoretical principles commensurate with postgraduate level and critically apply and evaluate these within a senior marketing management context identify relevant theoretical principles commensurate with postgraduate level and apply these within a senior marketing management context analyse complex, incomplete or contradictory areas of knowledge of a strategic nature and communicate the outcome appropriately synthesise information in an effective manner, utilising appropriate knowledge, theories and concepts apply relevant contemporary issues demonstrating a detailed understanding and awareness of managing and working at a strategic level analyse areas of knowledge of a strategic nature and communicate the outcome satisfactorily a lack of knowledge and understanding of a strategic nature analyse information, in an appropriate manner, utilising knowledge of theories and concepts include some contemporary issues demonstrating an awareness of managing and working at a strategic level limited analysis of information with limited reference to theories and concepts limited inclusion of contemporary issues and limited awareness or understanding of managing and working at a strategic level produce reliable and informative conclusions and strategic recommendations based on findings evaluate marketing concepts, theories and methodologies, arguing a range of approaches, with evidence of a high level of conceptual understanding of strategic issues produce reliable conclusions and strategic recommendations based on findings evaluate marketing concepts, theories and methodologies, with evidence of a competent level of understanding of strategic issues superficial conclusions and strategic recommendations which lack depth insufficient evaluation of marketing concepts, theories and methodologies, evidencing a lack of understanding of strategic issues apply initiative in problem solving and decision making apply techniques of problem solving and decision making an inability to apply appropriate techniques for problem solving and decision making engage in academic and professional communication, reporting on actions clearly, autonomously and competently engage in academic and professional communication, reporting on actions clearly, autonomously and competently inappropriate use of academic and professional communication