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BBM 131 Principles of Marketing

Tutor-marked Assignment 1
(TMA 3 20%)

Instructions:

1. This assessment covers topics you have learnt in Unit 3 . This is


an individual assignment. No duplication of work will be
tolerated. Any plagiarism or collusion may result in disciplinary
action.

2. Answer ALL the questions.

3. Please write your answers in short essay format. Do not answer


in point-form, unless the question mentioned List or State.
You dont have to write sections of introduction or conclusion in
your answers. Just answer directly to what the question is
asking.

4. The total marks for TMA 3 is 100 and this contributes 20%
towards the total grade of the course.

5. The deadline for the submission of TMA 3 is Tutorial 4. Please


submit your answers to your tutor.
Suggested Tasks:

1. Choose an education institution that you are familiar with, preferably well known
education institution so it will be easier for you to find information. (Yes. You can
choose to study Wawasan Open University if you want to).
2. Once you have identified the education institution try to find as much information
as you can through their website, brochures, advertisement and so forth.
3. Next answer the questions as below.

Question 1.

i) Briefly describe the vision and mission of the chosen education institution.
(5 marks)

Question 2

i) Explain what is target marketing and target market. Briefly explain THREE (3)
target marketing strategies that an organisation might pursue. (20 marks)

ii) Can you identify the target markets for the institutions undergraduate degree
programmes? Identify and describe THREE (3) target markets.
(12 marks)

iii) What other TWO (2) possible market segments that they could target? Justify
your answers. (8 marks)

Question 3

i) Explain the concept of product positioning.


(2 marks)
ii) Describe the concept of value proposition. What are the five winning value
propositions on which companies can position for their products?
(17 marks)
iii) How does this institution position itself? Justify your answers. (6 marks)
Question 4

Analyse who are their competitors? Name at least 2 competitors. (6 marks)

Question 5

Analyse the education institutions branding strategy

i) Analyse and explain any FOUR (4) of elements of branding


guidelines that seem to have been used in selecting the brand
name.
(12 marks)

ii) How would you improve on their current positioning ?


(12 marks)
Question 1.

Briefly describe the vision and mission of the chosen education institution. (5 marks)

Able to describe briefly the vision and mission of the chosen education institution.
(5 marks)

Question 2

i) Explain what is target marketing and target market. Briefly explain THREE
(3) target marketing strategies that an organisation might pursue.
(20 marks)

Target marketing refers to the process of evaluating each market segments attractiveness
and selecting one or more segments to enter. Target market refers to a set of buyers
sharing common needs or characteristics that the company decides to serve.

(Able to define target marketing and describe clearly the selection of target
markets by the institution = 8 marks)

Undifferentiated marketing A target market strategy in which a firm decides to ignore


market segment differences and go after the whole market with one product and
marketing programme. Sometimes known as mass marketing. This strategy focuses on
the common needs of consumers rather than what is different.

(Able to define and explain clearly the practice of undifferentiated marketing = 4


marks)

Differentiated marketing or segmented marketing strategy is where a firm decides to


target several market segments and designs separate offering different products or
marketing programme.

(Able to define and explain clearly the practice of differentiated marketing = 4


marks)
Concentrated marketing refers to a strategy whereby a firm goes after a large share of
one or a few segments/ niches. This strategy is suitable for companies that have limited
resources. This strategy may help the firm achieve strong market position due to its
greater knowledge of consumer needs in the niches.

(Able to define and explain clearly on concentrated marketing = 4 marks)

ii) Can you identify the institutions undergraduate degree programmes target
markets? Identify and describe THREE (3) target markets. (12 marks)

Examples of target markets secondary school graduates (SPM), international students,


working adults, and any other suitable target market.

(Able to identify and describe clearly the targeted market = 4 marks each. Students
need to identify and explain 4. Total 12 marks)

iii) What other TWO (2) possible market segments that they could target?
Justify your answers. (8 marks)

Examples of possible target markets housewives who might be interested in certain


courses, non graduates in the workforce who might want to improve their career path and
retirees who may be interested in self enrichment.

(Able to identify and describe clearly the targeted market = 4 marks each. Students
need to identify and explain 2 market segments. Total 8 marks)

Question 3

i) Explain the concept of product position. (2


marks)

Product position refers to the way the product is defined by consumers on important
attributes the place the product occupies in consumers minds relative to competing
products. Positioning involves implanting the brands unique benefits and differentiation
in customers mind.

(Able to define and describe clearly the concept of product position = 2 marks)

ii) Describe the concept of value proposition. What are the five winning
value propositions which companies can position for their products?
(17 marks)

Value proposition refers to the full positioning of a brand on the values that it has chosen
to be associated with.

(Able to define and describe clearly the concept of value proposition = 2 marks)

The five winning value propositions which companies can position are:

a) More for More


b) More for the Same
c) The Same or Less
d) Less for Much Less
e) More for Less.

(Able to explain well for each of the value propositions = 3 marks. Students need to
explain on the 5 value propositions. Total 15 marks)

iii) How does this institution position itself? Justify your answers (6 marks)

(Able to identify the positioning of the Institution and justify the his/her answers = 6
marks)

Question 4

Analyse who are their competitors? Name at least 2 competitors. (6 marks)

Other university or colleges, professional bodies such as FMM or ACCA, home


schooling and other suitable answers.

(Able to identify at least 2 competitors = 6 marks)

Q5 .Analyse the education institutions branding strategy

i) Analyse and explain any FOUR (4) of elements of branding


guidelines that seem to have been used in selecting the brand
name.
(12 marks)

ii) How would you improve on their current positioning ?


(12 marks)
i. The guidelines that could be applied in brand name selection include
1. The name should suggest something about the brand benefits
2. Must be Easy to remember
3. Should be Unique and different
4. If possible should be extendable tp other product categories
5. If possible ,should carry favorable meaning in foreign languages or be easily
translable into as many languages as possible
6. It should be easy to get registered and obtain
( Able to suggest and give brief comment on any 4 of the above or suggest some
other branding guideline for effective branding = 3x4 marks)

ii. Based on the existing positioning of the institution, learners should come up with their
own suggestions on improving the positioning by identifying and selecting the right
competitive advantage for the institution. They could then select any one of the five value
propositions and justify that choice,or select any other value proposition that they seem
fit and support their answer
(Able to give suggestions on improving position = 10 marks, Able to justify the
suggestion -2 marks)