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Assessment Criteria
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Learning Outcomes: Knowledge and Understanding tested in this assignment:
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1. Critically evaluate the role of management decision making techniques.
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2. Assess and evaluate the changing global context of the modern business environment and the impact of this on the problem.
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3. Recommend creative solutions, underpinned by research, to emerging problems
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Learning Outcomes: Skills and Attributes tested in this assignment:
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1. Critically analyse relevant management theories and apply tools and techniques to evaluate business issues arising because of the issues being examined
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2. Apply knowledge and analyse and evaluate evidence to solve structured and unstructured problems.
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3. Communicate solutions effectively.
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Feedback /Marking criteria for this Assignment
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Scenario based on current world events. The details presented here represent current events playing out on the international stage. These events impact all business organisations. Your role is to extrapolate into the future based on the information provided here and your own research.. Extrapolate is a difficult word to understand, but in this instance it is a perfect reflection of your task. It means extend and apply your knowledge to the marketing situation described below. Do this by reviewing existing global trends and assessing what existing trends will continue into the future. Then, create up to 3 potential future scenarios based on the information provided below and your research about the potential direction of future trends. This is not the first time marketing has been squeezed by external events and the strong survive. Learn from that and see below what is required:.
- Students are required to produce a short (1200-1500) word report which focuses clearly on the role of marketing in the world today. A world confused and conflicted by events which lie outside the control of any one country or organisation. The current environment for business is expected to see rising inflation as (energy especially) costs rise, the on/off imposition of tariffs together with falling stock markets mean even the wealthiest in society see their income dwindling. The big stock holders such as pension funds, insurance companies and banks are also impacted but, more importantly, uncertainty results in consumers limiting spending to conserve their cash while companies stop making investments to create a financial buffer to allow them to survive uncertainty and the unexpected.
- These immediate challenges are underpinned by broader megatrends such as the rise of digital technologies (especially AI and our 24x7 networked world); climate change and the imperative to decarbonise; demographic change, whether the youthful populations in sub-Saharan Africa or the ageing populations of Western Europe and Japan, and; the geopolitics of a new multi-polar world where China, India and other nations such as Brazil, Indonesia are increasingly influential.
- In this environment many organisations, reduce spending and there are 3 budget areas which are initially cut: capital investment, employment and marketing budgets. Industries which are most susceptible to a financial crisis are retail, travel, luxury goods, and most organisations selling non essentials. . Conversely, some business areas are more resilient during a downturn. These include education, food retailers, DIY and home improvements, and auto repair. In both cases, marketing spend could be reduced or alternately redirected to keep existing customers in the face of intense competition and the desire for consumers and businesses) to save. .
- Your report should select one industry sector such as luxury retail or DIY, explore the key trends impacting on your chosen industry, describe 3 different scenarios drawing on these trends (business as usual, worst and best case) and recommend how marketeers might best respond to challenges you have identified. What would you recommend and why? As well as the overall case, this should include features such as channel mix, messaging and any use of influencers.
- You must provide a comprehensive reference list to demonstrate how you underpinned your knowledge to enable you to engage with the marketing dilemma described here – even though its roots lie very much in international geopolitical events. Our aim is to assist you in developing your understanding of the role of the external environment on the activities and behaviour of big business at both the local and international level. As evidence of the data sources used provide links to same.
- See below for Marking criteria and further instructions on what is expected:
Lateness Penalty: No late submissions will be accepted - as the deadlines here are to enable us to submit final grades and thus enable your graduation
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Detailed Brief
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Prepare a report with projections based on the scenario above and of course your own reading and research. This assignment is work 50% of the module marks.
Assignment formal title: Examine the rationale for marketing spending during periods of financial uncertainty and prepare a report for your employer, a marketing agency, which will enable them to dissuade some of their key clients not to cut budgets because indiscriminate cost-cutting can be a big mistake.
It is often said that organisations should treat a recession as an opportunity to help their clients build their brand by taking a value based approach to marketing by offering marketing content which empathises with consumers while showing them that they are understood.
Marking for this assignment is out of 100% - but this submission represents 50% of the total grade for this module.
Any specific instructions:
The aim of this assignment is to help you build and develop your research, communication, and analytical skills in preparation for your future employment. In achieving this you should aim to write a succinct, insightful and clear report showing your in depth understanding of the issue, how it impacts on the business and your recommendations for action.
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Marking Criteria and Assignment Expectations & Guidance
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Criteria
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Marks out of 100
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Comments
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Referencing
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15%
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Because of the nature of this assignment and its reflection and reliance on a changing world view – sources and thus references play a very important part. Please include a detailed bibliography setting out the references used and those examined which informed this work
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Context
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15%
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Make very clear your view of the world in which you are tackling this problem – this is your opportunity to demonstrate your engagement with the world of marketing today
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Problem statement & Data selection
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25%
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We consider the identification of relevant data and its use to be critical to good research and thus we will be looking at, and examining, what data sources are used and their relevance to the issues being examined. and these must be reflected in your reference selection.
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Data analysis
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25%
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Problem solving within an organisations relies on collecting relevant information about the nature of the problem and examining possible solutions. Problem solving ( research) is identifying and using good data but the analysis of this information is also key and you must make it clear how, and why you have chosen the specific analytical tools you use. But also on this occasion demonstrate your understanding of the fleeting nature of some of the data you must rely on to create your scenarios- . We expect to see that you recognise, in this instance, the bigger picture as well as the short term ‘crises’ caused by the unpredictable policies of the current US Administration , and thus set out the potential short term and longer term outcomes that you envisage as a result of current world events.
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Conclusions & recommendations
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20%
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It is imperative that you make it clear what you were able to conclude, any recommendations you would make on how to survive in this uncertain world.
This section is worth 20 marks and you must demonstrate to your markers that you fully understood
(a) the difficulties associated with the issues you were examining
(b) that you acknowledge the uncertainty associated with all aspects of the future for marketing
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Academic Integrity, Plagiarism, Essay Mills and other Academic Misconduct Offences
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- You are NOT allowed to copy any information into your assignment without using quotation marks and a reference – this is ‘plagiarism’ (a type of academic misconduct).
- You are NOT allowed to copy from other students (or allow other students to copy from you) – this is ‘collusion’.
- You are NOT allowed to copy from your own assignments on other modules – this is ‘self-plagiarism’.
- You must NEVER buy assignments from websites (essay mills) – this is called ‘contract cheating’ and it is now illegal in the UK.
- Contract cheating is a serious academic misconduct offence and also includes arranging for help with an assessment such that there is also reasonable doubt as to whose work the assessment represents. It extends to input from a fellow student, friend, relative, or any other person, with or without payment of any kind.
- Unauthorised use of artificial intelligence (AI) is not allowed and will be treated as academic misconduct.
- If you commit academic misconduct, your mark will be reduced, or, depending on the severity of the offence you may get 0% for the assignment in question or 0% for the module, and get a disciplinary warning. Repeat offenders normally face disciplinary action.
Contact academic-skills@herts.ac.uk if you are unsure of the rules or how to avoid academic misconduct, and you will receive help. Please see the UPRs relating to Academic misconduct here.
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Student Support and Guidance
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- For further help on module content and assignment details, contact your Module Leader in his or her drop-in / office hours or by email.
- Use the Learning Outcomes and HBS Grading Criteria (Rubric) to help inform you of the expectations of the assessment.
- Use CASE (Centre for Academic Skills Enhancement) website resources: http://go.herts.ac.uk/CASE . Attend CASE workshops and drop-ins to develop academic skills to meet HBS expectations (see timetable on CASE website homepage or drop-in to CASE in L064, in the LRC).
- Visit the Academic English for Business Programme Site for tips on developing your academic English and contact hbsacademic-english@herts.ac.uk if you have any questions.
- For help with Turnitin, look for the “Check your work (Turnitin Originality Report)” practice assignment in the Assignment section of all of your modules. For help with understanding plagiarism and how to make changes to your assignment, contact hbsacademic-english@herts.ac.uk.
- Use the Online Libraryto access quality business information resources:
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