Assignment 1-Marketing PDF

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MODULE NAME: MODULE CODE:
Introduction to Marketing Theory and Practice MAKT5112,d,w

ASSESSMENT TYPE: ASSIGNMENT 1 (PAPER ONLY)

TOTAL MARK ALLOCATION: 100 MARKS

TOTAL HOURS: 10 HOURS

By submitting this assignment, you acknowledge that you have read and understood all the rules
as per the terms in the registration contract, in particular the assignment and assessment rules in
The IIE Assessment Strategy and Policy (IIE009), the intellectual integrity and plagiarism rules in
the Intellectual Integrity Policy (IIE023), as well as any rules and regulations published in the
student portal.

INSTRUCTIONS:

1. No material may be copied from original sources, even if referenced correctly, unless it is a
direct quote indicated with quotation marks. No more than 10% of the assignment may
consist of direct quotes.
2. Any assignment with a similarity index of more than 25% will be scrutinised for
plagiarism. Please ensure you attach an originality report to your assignment if required.
3. Make a copy of your assignment before handing it in.
4. Assignments must be typed unless otherwise specified.
5. All work must be adequately and correctly referenced.
6. Begin each section on a new page.
7. Follow all instructions on the assignment cover sheet.
8. This is an individual assignment .

© The Independent Institute of Education (Pty) Ltd 2020
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Referencing Rubric

Providing evidence based on valid and referenced academic sources Markers are required to provide feedback to students by indicating
is a fundamental educational principle and the cornerstone of high‐ (circling/underlining) the information that best describes the
quality academic work. Hence, The IIE considers it essential to student’s work.
develop the referencing skills of our students in our commitment to
achieve high academic standards. Part of achieving these high Minor technical referencing errors: 5% deduction from the
standards is referencing in a way that is consistent, technically overall percentage – the student’s work contains five or more
correct and congruent. This is not plagiarism, which is handled errors listed in the minor errors column in the table below.
differently.
Major technical referencing errors: 10% deduction from the
Poor quality formatting in your referencing will result in a penalty of overall percentage – the student’s work contains five or more
a maximum of ten percent being deducted from the percentage errors listed in the major errors column in the table below.
awarded, according to the following guidelines. Please note,
however, that evidence of plagiarism in the form of copied or If both minor and major errors are indicated, then 10% only (and
uncited work (not referenced), absent reference lists, or not 5% or 15%) is deducted from the overall percentage. The
exceptionally poor referencing, may result in action being taken in examples provided below are not exhaustive but are provided to
accordance with The IIE’s Intellectual Integrity Policy (0023). illustrate the error

Required: Minor errors in technical correctness of Major errors in technical correctness of referencing
Technically correct referencing referencing style style
style Deduct 5% from percentage awarded Deduct 10% from percentage awarded
Consistency Minor inconsistencies. Major inconsistencies.
 The referencing style is generally  Poor and inconsistent referencing style used in‐
 The same referencing format consistent, but there are one or two text and/or in the bibliography/ reference list.
has been used for all in‐text changes in the format of in‐text  Multiple formats for the same type of referencing
references and in the referencing and/or in the bibliography. have been used.
bibliography/reference list.  For example, page numbers for direct  For example, the format for direct quotes (in‐text)
quotes (in‐text) have been provided for and/or book chapters (bibliography/ reference
one source, but not in another instance. list) is different across multiple instances.
Two book chapters (bibliography) have
been referenced in the bibliography in
two different formats.
Technical correctness Generally, technically correct with some Technically incorrect.
minor errors.  The referencing format is incorrect.
 Referencing format is  The correct referencing format has been  Concepts and ideas are typically referenced, but a
technically correct throughout consistently used, but there are one or reference is missing from small sections of the
the submission. two errors. work.
 Concepts and ideas are typically  Position of the references: references are only
 Position of the reference: a referenced, but a reference is missing given at the beginning or end of large sections of
reference is directly associated from one small section of the work. work.
with every concept or idea.  Position of the references: references  For example, incorrect author information is
are only given at the beginning or end of provided, no year of publication is provided,
 For example, quotation marks, every paragraph. quotation marks and/or page numbers for direct
page numbers, years, etc. are  For example, the student has incorrectly quotes missing, page numbers are provided for
applied correctly, sources in presented direct quotes (in‐text) and/or paraphrased material, the incorrect punctuation is
the bibliography/reference list book chapters (bibliography/reference used (in‐text); the bibliography/reference list is
are correctly presented. list). not in alphabetical order, the incorrect format for
a book chapter/journal article is used, information
is missing e.g. no place of publication had been
provided (bibliography); repeated sources on the
reference list.
Congruence between in‐text Generally, congruence between the in‐text A lack of congruence between the in‐text referencing
referencing and bibliography/ referencing and the bibliography/ and the bibliography.
reference list reference list with one or two errors.  No relationship/several incongruencies between
 There is largely a match between the the in‐text referencing and the
 All sources are accurately sources presented in‐text and the bibliography/reference list.
reflected and are all accurately bibliography.  For example, sources are included in‐text, but not
included in the bibliography/  For example, a source appears in the in the bibliography and vice versa, a link, rather
reference list. text, but not in the bibliography/ than the actual reference is provided in the
reference list or vice versa. bibliography.
In summary: the recording of In summary, at least 80% of the sources In summary, at least 60% of the sources are
references is accurate and are correctly reflected and included in a incorrectly reflected and/or not included in
complete. reference list. reference list.

Overall Feedback about the consistency, technical correctness and congruence between in‐text referencing and bibliography:
....................................................................................................................................................................................................................................................................................................
.................................................................................................................................................................................................................................................................................................... .
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Read the two articles and answer the questions that follow.

Article 1: CBD oil is legal in South Africa. Here's what you need to know
15 NOV 2019

In May of 2019, the Department of Health made the historic decision of making the cannabis
derivate cannabidiol available for wholesale distribution in South Africa. The change comes in the
form of a temporary resolution that will last 12 months and may be renewed in May of 2020.
The future for cannabidiol, also known as CBD, in South Africa is uncertain. For the time being, you
can find CBD products in local pharmacies, general stores, and even pizza shops. Here’s everything
you need to know about cannabidiol, from its benefits to its risks.

The effects of CBD
Cannabidiol is an active agent found in plants of the cannabis variety, such as hemp and
marijuana. It has calming, anxiolytic, and anti‐inflammatory properties while also containing a
number of vitamins, making it valuable for many different health applications. CBD has been used
to treat anxiety, epilepsy, muscle pains, insomnia, arthritis, and menstrual cramps with
remarkable effects on all counts. It's also a powerful agent against acne and skin inflammations.
These are just the well‐substantiated claims with some scientific evidence to back them up. If
anecdotal evidence is to be believed, CBD can do much more.The effects of CBD are still being
studied, in part because widespread use of the substance wasn’t common outside of epilepsy
treatment, making this a new field. Widespread use of the substance came in the wake of the
recent movement towards cannabis legalisation that has spread over the world in recent years.

One thing CBD products won’t do is get you high. THC is the agent responsible for the
psychotropic effects of marijuana. Any reputable seller, like Cibdol, will provide you with CBD
products that contain only trace amounts of THC. Little enough that it won’t get you intoxicated or
trigger any drug tests.

The legal status
CBD products are now legal, but there are limitations on the market imposed by the Department of
Health. First, any products in the market may only contain a maximum daily dose of 20 milligrams
(mg) or less. Second, CBD products can’t claim to cure or treat any specific condition. They can only
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advertise broadly about general health enhancement or promise to relieve minor symptoms.

The CBD market
Cannabidiol has become a hot buzzword in the current world market. A look at Google search trends
shows that while there were almost no searches for CBD and related terms in 2016, the numbers
have steadily increased since. As of 2019, Google now sees an estimated 6.4 million unique searches
about CBD each month. People aren’t just searching, they are also spending money. The sales of
CBD products could reach one billion dollars this year and reach ten billion dollars by 2024. That’s
According to Hemp Industry Daily, a trade publication that covers the market. South African
companies and retail stores took the recent legalisation as an opportunity to invest. As of October
of 2019, CBD is available for purchase on the shelves of Clicks and Dis‐Chem, with prices starting at
around R300. Other applications of the substance also appeared in the market. Col’Cacchino started
selling pizzas with CBD oil at prices starting at R125, and Blowfish launched a sushi roll containing
CBD oil. More recently, Alchemy Elixzar launched South Africa's first CBD‐infused skincare line.

The risks
There are no known risks associated with CBD consumption. According to the World Health
Organisation, the substance is non‐addictive and shows no potential for being abused.

Source: https://www.bizcommunity.com/Article/196/398/197975.html
Accessed: 15 June 2020

Article 2‐ Cannabis oil business on the rise in South Africa
By MPILETSO MOTUMI, Mar 24, 2020

Often when people think of cannabis, they associate it with getting high. But over the years,
products that include cannabidiol (CBD) have become the norm across the world for their healing
properties. During the State of the Nation Address this year, President Cyril Ramaphosa announced
the government’s plan to formulate policy on the use of these products for medicinal purposes.
One company that has made headway is Goodleaf. The CBD wellness business was launched only
last year. “Our first dedicated CBD store was launched in Cape Town with the goal to bring the
highest quality range CBD products to market. “What we saw in the market were a lot of shops but
quality was a key component for us and ensuring what was in the bottle was as beautiful and the
same quality as what was outside of the bottle,” said Goodleaf founder Warren Schewitz.

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The business was started with significant relationships and funding from Canada and with the help
of Jonathan Katz, founder of Earthchild Clothing, who is one of the partners of the business, it has
reached its goals effectively. “We have a full complement retail team here, source cannabis from
some of the leading retailers in South Africa; we are really focused on bringing the highest quality
cannabis product to the market within the legal framework.” With tight regulations to ensure safety
and appropriate usage, Goodleaf has made sure to keep in line.

CBD and trace levels
“Not all CBD is created equal and certainly from our side we ensure the maximum daily stipulated
dose of 20mg. “Everything in our environments is labelled; we have a full‐time general council on
board and one of the leading cannabis lawyers in the country. Everything that we do is produced in
an independent GMP facility under good manufacturing process, farmer‐grade production.

“Everything is third‐party laboratory tested, 100% legal and it is batch tested, so you can trace your
product and see the certificate on that exact batch.” He added that the company tested for
pesticides and metals “According to the law you have to have less than 0.01 % of
Tetrahydrocannabinol (THC), and our products comply with that.” Goodleaf has 20 different
products ranges from cosmetics to topicals, creams, drops and a full beverage line.

Benefits
CBD is an anti‐inflammatory, so it can be used for pain relief and known to be effective for anxiety,
stress, PTSD, depression and sleep. “It interacts with the serotonin reception of our brain and that
promotes a lot of relaxation. We got a lot of positive feedback from our customers which is
encouraging for us as an emerging brand.”Schewitz said the World Health Organisation has listed
CBD as a Schedule 0 substance. “There are no negative side effects at these dosage levels so it is a
receptive form of treatment for those conditions. “We test all we produce, ensuring it contains no
THC. There are two predominant components in a cannabis plant ‐ there are actually 113
cannabinoids ‐ the two most familiar to us are THC and CBD. “THC has the psycho‐component that
makes you high ‐ all our products are tested to ensure we are in line with the stipulation, so if you
had litres of our product you wouldn’t get high.”

Goodleaf has four stores, one in Cape Town and three in Joburg. We have about 20 different
products ranging from cosmetics to topicals, creams, drops and we also have a full beverage line.
Part of what we wanted to do is give consumers an entry point in experiencing the benefits of
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cannabis, ensuring it is accessible at all levels. “As part of the range we have is the African Pure
brand, and that is sold at leading retailers formulated for sportsmen, there’s kids drops and pets
products for different life applications.” Schewitz added that a big part of the business was the
responsibility to educate people on cannabis.

“In our stores and online we have the largest repository of CBD data in South Africa in terms of
study and analysis, so consumers can make an informed decision in this market, particularly where
they’re inundated with a plethora of products.” Schewitz said the cannabis industry was a chance
for potential transformation for the South African economy. “South Africa is uniquely placed to
capitalise on this industry, due to having a variety of natural occurring strains of the plant, wealth
of skills, industry leading genetic science and an excellent climate. It is time for South Africa to
harness the opportunity in the cannabis industry.”

Source: https://www.iol.co.za/the‐star/news/cannabis‐oil‐business‐on‐the‐rise‐in‐south‐africa‐45452872
[Accessed 30 June 2020].

Assignment Brief:
 As part of a business that is planning to launch a new range of CBD Oils into the South
African market, you need to develop certain sections of a Marketing Strategy.
 Your contribution to this Marketing Strategy will be broken up into four questions, each
covering a different learning unit of your prescribed material.
 Word count may not be exceeded by more than 10% and markers will be required to
disregard any work beyond the stipulated word count and a 10% leeway.
 Please include word count in each question.
 You are required to draw on the theory provided in your prescribed textbook, as well as
an additional three credible academic sources to successfully complete this assignment.
This means that you need to use a minimum of four credible, academic sources in your
assignment of which only one is your prescribed textbook.
 You are encouraged to conduct your own research on the topic of the articles provided.
 Your assignment must be fully and correctly referenced using the Harvard method
including the articles provided and any other non‐academic sources used.

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Question 1 – Learning Unit 1: The marketing environment (Marks: 25)
As the starting point of the Marketing Strategy, please address the following two areas in a report
to management. This report should be no more than 600 words.

 For an exchange to take place successfully, all the gaps in the marketing process should be
successfully covered between production and consumption. Discuss any three gaps you
believe to be most relevant to your business in the marketing process of CBD oils in
South Africa. As part of your report, discuss two intermediaries of your choice that would
be responsible for closing the gaps.
 You are required to consider the impact of the macro‐environment to the business prior
to the launch of your product. Discuss any four variables in the macro‐environment you
believe to have the most impact on the CBD oil market.
Criteria Mark allocation
Introduction 3 marks
A discussion of the three selected marketing gaps as well as the two 10 marks
intermediaries providing theory and relevant application.
A discussion of the four variables in the macro‐environment providing 8 marks
theory and relevant application.
Brief summary and concluding thought. 4 marks

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Question 2 – Learning Unit 2: Understanding consumer markets (Marks: 25)
As part of the process required before launch, you need to consider the segmentation, targeting
and positioning of your potential market. Consider the following questions and compile a report
for management of no more than 600 words.

 In order for your business to market the new range of CDB oils successfully, the bases for
segmentation should be carefully considered. These include:

o Geographic;
o Demographic;
o Psychographic;
o Behavioural.

Discuss any three behavioural segmentation bases you believe to be most relevant to the
CBD oil marketing strategy in South Africa.
 In general, seven positioning methods can be distinguished. Select and discuss two
positioning methods you believe would be best suited to the market you have selected for
targeting.

Discuss the three behavioural segmentation bases providing theory and 12 marks
relevant application.
Discuss the two selected positioning methods providing theory and relevant 6 marks
application.

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Question 3 – Learning Unit 3: Product (Marks: 25)
Any innovation, or new product, takes time to spread through the marketplace. Provide the
management with the following information in no more than 600 words.

 Discuss the customer adoption process as part of the consideration for the marketers in
your business as they prepare for bringing CBD oil products into the South African market.
 Discuss the product lifecycle phase you believe the CBD oil market is currently in within the
South African market.
Criteria Mark
allocation
The customer adoption process discussed in context. 10 marks
The selected product lifecycle phase providing theory and relevant application. 8 marks

Question 4 – Learning Unit 4: Pricing decisions (Marks: 25)
Before launching your new range of CBD oils into the market, the pricing strategies for new
products need to be carefully considered by the organisation. Consider the following questions
and provide your considerations and recommendations to management in a report of no more
than 600 words.

 As part of the launching strategy for CBD oils into the South African market, choose and
discuss the appropriate pricing strategy for this new product.
 Discuss and apply the six price setting guidelines you need to consider when setting a
pricing strategy for CBD oil market in SA market.
The appropriate pricing strategy for new products, selecting between market‐ 6 marks
skimming or market‐penetration, providing theory and relevant application.
The six (6) price setting guidelines considered when setting a pricing strategy 12
providing theory and relevant application.
Brief summary, concluding thought and recommendations. 4 marks
[TOTAL MARKS: 100]
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