Marketing: the product portfolio and their life cycles.
Marketing: the product portfolio and their life cycles.
Purpose of the Assessment
This assignment has been designed to allow students the opportunity to explore the underlying importance of marketing and a marketing philosophy within organisations, and to society as a whole
“Most organisations offer more than one product or service…..The advantage here is that the various products – the product portfolio – can be managed so that they are not all in the same phase in their life cycles. Having products evenly spread across life cycles allows for the most efficient use of both cash and human resources.”
Hollensen, S. (2015) Marketing Management: A relationship approach. 3rd ed. Harlow Pearson p257.
By reference to academic literature, explore the concept of the product portfolio and product lifecycle management, using appropriate industry examples to demonstrate your learning and application.
Indicate how a company (Abbott Laboratories EPD) could apply the concepts, making generic recommendations.
You are required to produce an essay or business report that demonstrates your understanding of key aspects of Strategic Marketing.
The report should have:
• A sound theoretical and conceptual perspective, containing evidence of critical debate within an appropriate academic literature. A minimum of 6 academic journal articles should be referred to.
• An effective practical foundation, which makes generic management recommendations.
Tips from Instructor:
The work will be submitted in essay format and should be 3000 words, +/- 10%. With Harvard references. Such words scheduled as the following:
1- Introduction: 300 Words
2- Definition and Theories : 800 words (use minimum 2 references)
3- Applying the Knowledge and analysis in Abbott laboratories : 800 words(use minimum 2 references)
4- Answering the Question and Analysing the concepts used and criticizing its validity : 800 words (use minimum 2 references)
5- Conclusion and Summary of findings, listing of untapped angles, recommendations : 300 words
Any assignment that exceeds the given word count will be penalised.
Please consult the Assessment Matters section of the Common Academic Framework – Student Guide for information on the general grading criteria.
In order to gain a good pass for this assignment at this level students are expected to pay attention to the following:
Structure and clarity of expression
The fundamental features of well-structured work are expected as the norm at this level with students often involved in developing a suitable conceptual framework in order to evaluate and analyse the issue or question set. There will be proper attention to the type and style of the assignment – in this case academic essay – and the work should remain clearly focused, follow a logical sequence and clear sense of direction even though more complex issues are addressed.
Reading/Research and Referencing
Reading should extend beyond general marketing texts and encompass specialist texts as well as the extensive use of journal articles, periodicals including professional/industry publications. Students should also demonstrate a more selective approach to their reading in order to improve the quality of their work through varied, appropriate sources to logically develop and support their argument. The proper, accurate presentation of quotations and references is expected and inaccuracies will be penalised, as will the over-reliance on a single source or limited sources of information.
Content and understanding
Knowledge itself is not necessarily rewarded at this level. While extensive knowledge and understanding is expected, it is how this is used in analysis which is more important. Capable students will demonstrate an awareness of contemporary issues and importance of adopting an organisation wide marketing philosophy to contribute to greater stakeholder engagement, customer satisfaction and value creation. Capable students may realise that a definitive answer to particular concerns posed by the essay question may prove elusive.
Students should demonstrate an ability to identify the key issues which are most relevant to the given area of marketing strategy, philosophy and application – centred on its overall purpose, usage and effectiveness. The ability to appraise and evaluate marketing concepts, theories and frameworks and their application for gaining understanding and insights regarding their chosen example is expected and students should be able to demonstrate skills of critical evaluation of theory during their work.
Application to industry
Students should demonstrate the ability to integrate theory into practice and increasing abilities to evaluate the embedded marketing philosophy and its resulting outcomes for relevant businesses and organisations.
Grading / feedback guidance
The table on the following pages serves as a general grading guide to assist you in preparing, structuring, presenting and evaluating your own work. Lecturer feedback will also include specific remarks on strengths and aspects for improvement as well as overall comments on the assignment as a whole.
To get A Grade your scoring will be as the following:
1- Structure & clarity of expression (10%): A polished and coherent structure. Thoughts & ideas are expressed clearly and focused on the purpose of the task. Fluent academic style.
2- Reading / research & referencing (15%): Excellent range of relevant sources has been used to inform the report, with clear evidence that the credibility of sources has been considered. Referencing is in accordance with the Harvard format.
3- Content and understanding (20%): Excellent use is made of relevant marketing theory to structure and inform the marketing project. Clear understanding is evident in the way marketing theory is employed.
4- Analysis / evaluation (30%): Highly analytical approach to the marketing report. Excellent use is made of relevant theory to inform and facilitate a robust evaluation of an embedded marketing approach.
5- Application to industry (25%): The theories, findings, and analysis are fully applied to the chosen organisation, with comparisons as appropriate