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If i am doing primary research but am not dealing with internal employeesdo i still need permission from the organisation.
Is primary data necessary for topic 18
Hi,
I choose topic 18 for my OBU RAP and is wondering if Demerara Distillers Limited will be a good company to select for this topic?
I would also like to know if questions based on the different marketing models out there will be good research questions when it comes to the effectiveness aspect of this topic?
Sorry I missed your query – ‘Process’ for the 7Ps in this context would include booking process and IT systems and user-friendliness of website that sort of things. It might also extend to ordering other services e.g. how they process and deal with special needs and dietary requirements, provision of ancillary services such as arranging day trips, conferences and meetings, weddings etc
Primary data permission not a requirement for this topic.
You may however conduct a survey of customers -this would not need company permission if conducted in a public place however your respondents need to be given details of the purpose of your study and you need to comply with the ethical requirements of academic research. This is on the Brookes website and you would need to confirm you had dealt with ethical issues in Part 2
This is something to discuss with your mentor however look at the 4Ps of marketing to see how it would fit that profile and possibly also consider how you would apply the Porter’s 5 forces model as they would probably form a significant part of your work
Thanks! I just had another question. While calculating market share, I used figures released by the country’s department of statistics to get figures for total industry revenue. However, these figures were in the form of monthly reports, so I had to add up the figures for all the months to get the total revenue for the year, which I used to calculate market share. My question is should I include these calculations in my appendix spreadsheet, or is it enough to just reference the source i.e. the statistic department’s website? And if I should include them in my appendix, should I include them in an entirely separate workbook, or is it fine to include them in a new sheet in my current workbook?
You could include in your Excel sheet as an example of use of formulae if you need more examples of ‘varied formulae’ required by the assessment criteria. Otherwise it may be adequate just to reference appropriately to the source website
Thank you! If I may ask one more question. I created my graphs in excel and then pasted them on word with the option to link the data, however, I’m a bit worried if this is the correct way to do it? Would it be better to maybe paste it as a picture to ensure that the data displayed will always stay the same when the marker is marking my project?
Also, once I’ve pasted these graphs onto my word document, should I delete these graphs from my spreadsheet?
Sorry if these questions are a bit pedantic, I just wanted to be extra careful.
Just a follow up, another option while pasting is to embed the workbook. I think this may be the safest bet?
The marker needs to be able to see the formulae in your actual spreadsheet because the requirements in the Assessment Criteris stipulate:
“a spreadsheet file (which incorporates and clearly demonstrates use of varied formulae).”When it comes to the report you can insert charts as images
Hello Gillian and Trephena,
I have finally settled to write Topic 18, please review my research questions –– What are the marketing strategies of Zenith bank
– What impact does the external environment have on the marketing strategies of Zenith bank
– How have these strategies influenced their position to give competitive advantage
– how to the marketing strategies should be adjusted to sustain the competitive advantage as well as exploring other opportunities?
I want to use 7ps to answer question 1, pestel for question 2, ratios and marketing metrics for question 3 and comparator and recommendations for question 4.That looks like a very good approach.
In relation to answering Q3 & 4 you would also be referring to the Bank’s strengths and opportunities (though a full SWOT is probably not possible with the word count limitations) as part of drawing on and maintaining competitive advantage.
Thank you.. I know I am just starting part 1 and 2, I am curious about part 3, I have chosen a bank(local bank) and I am curious about the source of information, data. Where do I get the information from? I know I will not just type random search on Google!.
trephena wrote:That looks like a very good approach.
Thank you.. I know I am just starting part 1 and 2, I am curious about part 3, I have chosen a bank(local bank) and I am curious about the source of information, data. Where do I get the information from? I know I will not just type random search on Google!.
This is what your research is about uncovering and will come from a variety of sources.
Some of this may be primary data e.g. observation so with the 7 Ps – People is there a uniform worn by counter staff and if so how does this compare with rivals’ uniforms ? Place – what are the buildings like inside and out? and the facilities for customers – is there any seating, adequate air conditioning? Process – are there long queues? Again how do these compare with rival banks?
Much of the data however will be secondary: articles from the business press and trade journals, advertisements and the company’s own annual reports (CEO and Chairman’s reports outlining new products, services etc.) . So Place would be supported by factual information about the number of branches, locations and Process by supplemented by details about the bank’s online facilities, app, customer service, and People by info on training and staff development.
Strengths and weaknesses info would be derived from the articles though you could also conduct a survey from customers asking about their experiences and expectations
trephena wrote:This is what your research is about uncovering and will come from a variety of sources.
Thank you once again..
I have been reading this book- Principle of marketing by Philip Kotler. He highlighted some things regarding marketing mix (4).
For product – variety, quality, design, features, brand name, packaging and service
Price – list price, discounts, allowances, payment period
Promotion – advertising, personal selling, sales promotion, public relations, direct and digital
Place – channels, coverage, locations, inventory, transportation and logistics.I guess I can focus on data search on the listed above points? I know that all won’t be relevant to bank. I can also use the examples you have given above on ‘people’ and ‘Process’
Philip Kotler is known as THE marketing guru. Use his book as a guide and adapt it accordingly. Normally you would be expected to make some comparisons with rivals to put your chosen bank into an appropriate context.
Do not however overlook the second part of the topic title – an evaluation of the effectiveness of the marketing strategies. For this you need to have some facts and figures about market share if possible and trends in profits and possibly make some comparisons again with rivals. The thing most students forget is that an evaluation of the effectiveness of the strategies does not necessarily mean that they have been super successful. If your company has not shown improvements then provided you supply the evidence – static profits or even declining profits and can justify why this is the case, you will be dealing with the topic brief.
Hi. I am doing a fashion retail co for this topic using 7Ps and Porter 5 forces. May I ask for advice for
1) should comparator place within the same section as 7Ps or after analysis of 7Ps at part 3?
2) and I would like to confirm regarding assessing its effectiveness part, does compare to anything else related 7Ps such as sales, price or campaign over competitor will do? or any advice to assess its effectiveness? thank you.1) It is usually useful to do the comparisons side by side as you go along rather than have a separate section after the main company, as this allows the reader to see how differently or similar any competitor is performing on their Ps
2) In assessing effectiveness of the marketing strategies you would be expected to show trends in revenue and market share – these mostly would be just the main company, though it may be relevant to include the comparator in the market share analysis. International expansion in some circumstances may also be indicative of successful marketing strategies. (Ideally if possible you would show the marketing spend as a percentage of revenue over the last few years – however this data is rarely available from the annual reports, and therefore few people outside the company can produce this ratio as they lack the expense breakdown in this level of detail).One thing students overlook is that the title asks you to evaluate the effectiveness of the strategies – the evaluation in some cases might indicate that the strategies have not been effective. This is not an issue provided you supply the evidence and sufficient evaluation in your report to justify making this conclusion
Product of the 7 ps – can I just repeat what was list in the company’s annual report and compare with what a competitor listed on their annual report?
IMO that would be inadequate analysis. ‘Product’ is not just a list of items a company sells it also relates to how the companies physically present their products to the consumer. For example with drinks this might be whether they come in bottles, cans, different sizes and multi-packs; for a car manufacturer it would be the differences within the same category of model – the basic and the deluxe model. It also would relate to product size and packaging [including artwork], how the company ensures its products look appealing and stand out from rival products and give the customer satisfaction
Therefore a more detailed analysis and evaluation is required to show that you have considered how each company anticipates and caters to its customers’ requirements and goes about making its products look attractive and appropriate to the customer’s wants and needs for the whole of the buying experience.
Remember marketing strategies are about fulfilling the customer’s desires and appealing to as many customers as possible and therefore your assessment of the 4 or 7Ps of marketing should be looking at how the company and some of its rivals compete with each other on 4 /7 elements – what they do the same or similarly and what they do differently.
Thank you…
In my case, I will be writing on a bank. product size, packaging may not necessarily apply. Off example, the bank accounts – individual current account, would the features and benefits suffice? Since the rival banks may offer similar or different features and benefits on this product.Agreed – if a bank the product is the intangible services offered and therefore there is no visible product. Process and people involved in delivering the service to customers will be important (along with physical evidence -together forming the remaining Ps in the 7Ps).
Maybe feedback on social media will provide you with some way of comparing staff in the main bank and rivals. Also appearance -is there a corporate uniform to enforce corporate identity and promote the company image. Facilities -online services, customer service, helplines (times available and waiting times for example) are other aspects that may be compared in respect of process.
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