Written Assignment

As part of the business challenge, which will be explained in

the 13th lesson, students must formulate a written report in
the form of a business and marketing plan. The judge(s) will
assess it for its creativity, viability, relevance and attention to
detail. In the report, students must:
• Devise a company and product name
• Assign each member of the team with a role
• Describe their product idea which must be innovative
• Outline their mission statement and objectives
• Present a marketing audit: primary research through
surveys/questionnaires, PESTLE analysis, secondary
research of competitors
• Present a SWOT analysis
• Detail their marketing objectives and marketing
strategy, including the 4 Ps
• Demonstrate how much finance they require

Students need to work as a team to develop their business

idea into a report that specifies how the business is going to
be established and how it will meet its turnover and profit
target for the first year of trading. Specifically, they need to
consider:
• Market positioning
• SWOT and PESTLE analysis
• The structure of their business through the business
model canvas
Presentation/interactive
assignment

This is a small group presentation (4-5 members), and it

will last around 10 minutes. It should consist of:
• An introduction (stating students’ names, the name
of their business and their business idea)
• A copy of students’ reports for the judges
• The pitch
• Answering questions from the judges

Students should also include:

• Your company logo
• Screenshots of your app and/or website
• Videos, posters or jingles as part of their
presentation and present them as an example of
how they intend to reach their target customers
Business Model Canvas

3
SWOT and PESTLE analysis

5
Business Environment
Business is affected by two types of
environment

Internal Factors
External Factors
 Internal
Factors
What are the business’s:

• Strengths
• Weaknesses
• Opportunities
• Threats
 • Political factors
• Economic factors
• Social factors
• Technological factors
• Legal factors
External • Environmental factors
Factors

PESTLE
Innovation

9
 Innovations
Development of a new idea, product, method or
design

Innovation can refer to something new or to a

change made to an existing product, idea, or
field.

What are some examples?

 Inventions
• A unique or a novel device, methods,
composition or process

• A product or a way of doing something which

has never been made or never existed before

What are some examples?

 Product Innovation
Product innovation is either the development of
a new product, such as the Fitbit or Amazon’s
Kindle, or an improved version of the existing
product, such as an increase in the digital
camera resolution of the iPhone.
 Process Innovation

The process involves a combination of skills,

facilities, and technologies used to produce,
support, and deliver a product or service.
 Model Innovation

In model innovation capabilities, or processes

are optimised to make a company successful
and profitable. It will become the targets for
transformation.
Marketing

16
Positioning
 What is the purpose of your business?

• How do you want to be seen by the target segment(s)?

• What is distinctive and relevant about your company and
offerings?
• How do customers see you vs. the competition in the
market?
• What is your company not? (Temptation to be all things to
all people)
Writing a positioning statement

For (TARGET CUSTOMER), Company X is the brand of

(REFERENCE UNIVERSE / CATEGORY) that (RELEVANT
AND DISTINCTIVE ATTRIBUTES).
Porsche
Porsche Positioning
Statement
For SPORTS CAR ENTHUSIASTS,
Porsche is the brand of LUXURY
SPORTS CARS that provides
HERITAGE/RACING HISTORY,
SUPERIOR ENGINEERING, and a
HIGHLY ENGAGING DRIVING
EXPERIENCE.
Market
Segmentation
 Segmentation Rationale

• Learn more about customers

• Guidelines for marketing strategy (e.g., setting the marketing mix)
• Determine resource allocation among market segments
• Increase profitability (e.g., price discrimination)
Virgin Airlines
Segmentation
Criteria

• Real, Identifiable Differences:

Distinct characteristics
• Substantial: Large and profitable
enough to serve
• Accessible: Effectively reached
• Stable: Consistent over time
• Differentiable: Different
response to marketing efforts
• Actionable: Must be able to
attract and serve the segments
 Segmentation Types
Method

Descriptive • Demographic
• Socioeconomic
• Geographic

Psychographic • Lifestyle
• Activities, Interests,
Opinions (AIO)
How to • Personality

segment
a market Behavioral •
•
Needs and benefits
Purchasing behavior
(usage frequency,
usage occasion)
• Customer journeys
Descriptive
Segmenting Variables
• Demographics
– Age/lifecycle stage
– Gender
– Company size (B2B)
– Industry (B2B)

• Socioeconomic
– Income
– Education
– Occupation

• Geographic
 Psychographic Segmentation

• These variables describe how consumers think (about themselves)

• Examples:
– Personality
– Lifestyle and AIO (Activities, Interests, Opinions)
Example of Ad
Using
Personality
Segmentation
Example of Ad
using Lifestyle
Segmentation
 Behavioral
Segmentation
• These variables describe how
consumers act (use the product or
service)
• Examples
– Needs and Benefits
– Purchase Behaviour (Usage
Frequency, Usage Occasion)
Example of Ad using Usage
Occasion Segmentation
Target
 How do we select
segments to target?
• Segment Characteristics
– Profitability = Frequency x
margin (of average
purchases)
– Size
– Responsiveness
• External Characteristics
– Competition
• Internal Characteristics
– Internal capabilities/core
competencies
– Align with “purpose”
The 4P’s of Marketing
 Any
Questions?