CIM Level 6 Diploma in Professional Marketing

Transcription

1 CIM Level 6 Diploma in Professional Marketing Mastering Metrics (2201) December 2015 Assignment The assignment comprises THREE compulsory tasks Task 1 is worth 20 marks Task 2 is worth 35 marks Task 3 is worth 35 marks 10 marks are available for format and communication of information Total marks available 100 Candidate guidance Answer all tasks The available marks are shown alongside each part of the task 10 marks are available for overall format and communication of information Read all tasks carefully before attempting them The Chartered Institute of Marketing 2015

2 Scenario: Brand Valuation Brands, branding and the ability to measure brand value are key elements of marketing. Whether this be in for-profit organisations, not-for-profit, third sector or even personal branding, an organisation has to consider the concepts of a brand, brand recognition and brand value. Measuring aspects of the brand is as important as the actual brand itself; without use of metrics how can the brand value be identified? Your role is that of a Marketing Manager with an understanding of both branding and the use of analytical metrics to evaluate business and marketing data. You have been asked to present your analysis of your chosen organisation s brand using marketing metrics, as a basis on which to identify overall brand value to the chosen organisation. You should select an organisation where you will have access to relevant statistics and financial data that will enable marketing metrics to be applied. It is important that the data is relevant to the brand and that the data is recent. Where data is not available, or the data available is not sufficient to provide analysis, you are able to use proxy data from sources such as the CIM Learning Zone. With reference to the chosen organisation, you should be able to present its current use of data and how this is or could be used to assist in evaluating the overall brand value. Therefore it is important you are able to collect appropriate data on the chosen brand. You should be able to identify which marketing metrics are or could be used to identify brand value, explain how these are or could be used, and be able to use this to demonstrate your calculation of brand value. Guidance notes: This assignment is made up of three tasks which should flow as a single document. There are TEN marks available for continuity of tasks, appropriate language and format used. This is awarded under Format and communication of information. The purpose of this assignment is to equip you with the ability to selectively analyse different sets of marketing data for insight, and to undertake effective decision making in relation to the identification of the value of a brand. You have therefore been asked to select an organisation which will be faced with the real or imagined scenario of determining the overall brand value of the organisation or a single brand. Your advice on this shaping element is needed, and with the goal of presenting an appropriate decision on the value of the chosen brand, you should utilise a wide range of marketing metrics in order to analyse a selection of data gathered. If the chosen organisation for this assignment is a not-for-profit organisation, and one which measures brand reputation rather than financial brand value, it is acceptable in such cases to focus on the value of the organisation's brand reputation rather than financial brand value, applying appropriate metrics. You should acknowledge all sources/methodologies/applications using the Harvard referencing system. Maximum page count: 17 pages (including 1 page for the organisation summary) Page 2 of 8

3 TASK 1 Assessment criteria covered in Task 1: AC1.1, AC1.2, AC1.3, AC1.4, AC2.1, AC5.1, AC5.2 Please refer to the module specification for assessment criteria details. Marketing metrics relate to a wide range of business areas both internal and external to an organisation. In the second section of your report, you should provide a basis of the theory surrounding marketing metrics and its application. In addition, in the third sub-task (c) you should consider which key metrics would be of benefit in valuing the brand. The report should then identify how marketing metrics are currently applied in your chosen organisation. Required: (a) (b) (c) (d) Using the organisation summary guidelines, provide a background to your chosen organisation. Identify and explain the role of marketing metrics in the context of marketing and the process of making marketing decisions in your chosen organisation. You should refer to relevant theory within this subtask. Identify which key metrics can be used in the chosen organisation for measuring brand and brand value. Discuss how these metrics can assist in understanding brand value. Explain how marketing metrics related to measuring brand and brand value are currently utilised in your chosen organisation. You should demonstrate how the metrics are applied. (5 marks) (5 marks) (5 marks) (5 marks) (Total 20 marks) (Organisation summary maximum page count 1 page) (Tasks 1 (b) to (d) maximum page count 4 pages) (Total page count 5 pages) Page 3 of 8

4 TASK 2 Assessment criteria covered in Task 2: AC1.4, AC2.1, AC2.2, AC2.3, AC3.1, AC3.2, AC3.3, AC4.1, AC4.2, AC5.3, AC6.2 Please refer to the module specification for assessment criteria details. This task centres on the brand of the chosen organisation. It should be related to the scenario given of identifying the overall brand value. In addition, the use of a marketing dashboard will enable a diagnosis of the current brand value. The dashboard creation is in the context of the need for an overall brand valuation. Required: (a) (b) (c) Discuss the different elements involved in measuring the value of a brand, explaining how they assist an organisation in making decisions. Taking into consideration the different elements involved in measuring the value of a brand discussed in Task 2 (a), collect data relevant for measuring the chosen organisation s brand, and analyse this data to demonstrate the overall brand value for the chosen organisation. Prepare a marketing dashboard showing the results of the brand value metrics analysed in Task 2 (b). (10 marks) (15 marks) (10 marks) (Total 35 marks) (Maximum page count 6 pages) Page 4 of 8

5 TASK 3 Assessment criteria covered in Task 3: AC4.1, AC4.2, AC4.3, AC5.2, AC5.3, AC6.1, AC6.2, AC6.3 Please refer to the module specification for assessment criteria details. Having identified a range of data and developed a series of marketing metrics, your report should now present a decision, with justification, about the brand value of your chosen organisation/brand. Required: (a) (b) (c) Discuss how an evaluation process of brand valuation in your chosen organisation using marketing metrics could help future decisionmaking. Recommend and justify a range of future metrics linked to brand valuation in your chosen organisation. Recommend a further range of relevant primary and/or secondary research methods which could assist in validating the overall brand value. Identify potential data source(s) within each of these methods. Present the benefits and challenges of using a metrics approach to branding. Reflect on the challenges posed in evaluating brand valuation metrics, using the data available to you in Tasks 1 and 2. (12 marks) (10 marks) (13 marks) (Total 35 marks) (Maximum page count 6 pages) Page 5 of 8

6 TASK 1 REPORT FORMAT TASK 1 MAXIMUM page count: 5 pages Guidance notes: Use of relevant theory relating to marketing metrics is key to demonstrating understanding of the concepts within this module. This being so, within Task 1 candidates should be able to identify a range of different metrics. The chosen metrics need to relate to marketing and specifically to brand value. The contexts of each organisation will differ dramatically; therefore specific application to the candidate s chosen organisation is essential. In Task 1 candidates should consider how metrics are used in the marketing function within the chosen organisation. TASK 2 REPORT FORMAT TASK 2 MAXIMUM page count: 6 pages The purpose of this task is to equip the candidate with the ability to selectively analyse different sets of marketing data for insight; this is in relation to the requirement to determine overall brand value. In order to present a clear picture of these metrics, marketing has developed the approach of dashboarding. Marketing dashboards are graphical demonstrations of the analysis of data. They are able to show performance analysis and trends. The dashboarding process uses a selection of the most relevant marketing metrics represented at the same time. Using a range of visually presented metrics often provides a clearer comparison than large amounts of statistical data. Dashboards use graphs and tables rather than simple statistics. Guidance notes: Marketing dashboards relating to the context of brand valuation could include aspects such as brand depth and breadth, generated by brand image and awareness. Elements also include market growth rate, market share, and customer and market behaviour. Also included could be customer attitudes and the Net Promoter Score. The purpose of the marketing dashboard is to help the candidate visually demonstrate all elements of their analysis of brand valuation. To construct the marketing dashboard from the brand valuation metrics, candidates will need to utilise the data they collected This data should then be analysed within this task. The analysis should offer candidates the opportunity to select those metrics which will offer the clearest brand valuation. Page 6 of 8

7 TASK 3 REPORT FORMAT TASK 3 MAXIMUM page count: 6 pages Task 3 relates to the brand valuation within the chosen organisation. Within this section it is important that candidates present the overall perspective on the brand valuation. In addition, candidates should include a justification of the analysis undertaken. The justification could use the marketing metrics from Task 2. Guidance notes: It is recommended that candidates identify additional data and relevant market research method(s) that would further assist in valuing a brand. Candidates should consider how any changes in the value of the brand in the chosen organisation could be monitored in the future using relevant metrics. All recommendations should be clearly stated and flow from preceding analysis, providing a consistent theme throughout the three tasks of the report. Sub-task 3 (c) is a reflection on the effectiveness of using marketing metrics to assist in valuing a brand. Page 7 of 8

8 ORGANISATION SUMMARY GUIDELINES Contents will contribute to the FIVE marks available in Part (a) of Task 1. The following headings must be included: Organisation name Type of organisation, for example, profit or not-for-profit, local, national, global, and type of legal entity Size of organisation in terms of turnover and/or number of employees Range of products and services provided Customer base, for example, B2B/B2C Main competitors Other information relevant to the assessment brief may be included to assist the examiner in understanding the organisation. Page 8 of 8