BSc (HONS) FASHION MANAGEMENT Marketing Management Research Paper

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1 BSc (HONS) FASHION MANAGEMENT Marketing Management Unit code FU001858 Credit rating 20 Notional learning hours 200 Stage 1 Level 4 Unit leader Ayshen Ali ([email protected]) Teaching team Karen Manville, Sanjeev Davidson and Ronit Zilkha Timetable UAL Timetable Academic year 2020/21 Introduction This unit provides you with the opportunity to explore marketing principles and management in a world where customers’ needs and behaviours are constantly evolving, the economy is unpredictable, competitive pressure is a constant factor and technology is continually developing and advancing. You will evaluate the current market position of a specific fashion business and present viable marketing and communication strategies in the form of a marketing plan. Assessment and Project Brief SUMMATIVE ASSESMENT You are required to submit an individual report of 2,000 words utilising sufficient breadth, depth and published information. You are required to research into a market sector within the fashion industry and focus on one brand within your chosen sector. Your chosen brand must have published reports of their performance to enable to complete the requirements of the report. 2 By building on a comprehensive analysis of the relevant marketing environment (situation analysis) you will develop a report to address your set marketing objectives. Your report should include a detailed profile of the target customer(s), a discussion of the market positioning of your chosen brand. Following this, you will digitally produce a proposal for a marketing campaign for the brand, which you feel appropriately communicates the brand message and ultimately generates AIDA. To pass you must submit all components that are noted as mandatory. This unit is a Pass / Fail unit, which means that you will not be given a letter grade at the end. This is done to give you the opportunity to practice and develop your writing skills and to be experimental in your thinking. Tips for a successful Report • You should place particular emphasis on the marketing communications aspects of your report, including proposed creative approach, scheduling, implementation and budgeting. • Decisions and recommendations presented throughout the report must be adequately justified with reference to research. • Concise editing and writing style - the ability to get a message across clearly and efficiently is a key skill required in marketing. • Presentation is very important. Following your ACA workshops in Week 2 or 4, your report should be produced in Adobe InDesign (not Word) using digital media where appropriate. • Use photographs, product images, charts and graphics wherever possible to illustrate. Make it as visual as possible. Indicative Structure of the Report (guidance only), however the mandatory components are: Title page, table of contents, list of tables/figures (not included in the word count) Executive Summary (approx. 350 words which is not included in the 2,000 word count for the main report) • The first thing read by your reader • Your executive summary should be no more than a page • It should summarise all the other sections of your report • It should be the last thing you write even though it's usually the first thing read by others • Its concise length and summary format will enable the reader to quickly understand what the outcome of your report will be 1. Introduction (approx. 300 words) • Purpose of the report. Why the report was written • Sources of information you used • Limitations of your research 3 • How you conducted your research • Marketing Objectives – consider what you want to achieve from your campaign this could include attracting a new target customer, launching new products, promoting a new store, new market positioning strategy or to increase brand awareness 2. The Market Sector– introduce your market (approx. 300 words) 2.1 Current market analysis (size and performance) 2.2 Summary of situation analysis: this is an analysis of the relevant external and internal marketing environment. Use PESTEL and SWOT analysis 2.3 Key Marketing trends – use LSN and WSGN for examples that will influence your proposal 3. Marketing Mix and Positioning (approx. 650 words) 3.1 Introduce the brand – mission statement/values and products/services 3.2 USP - brand identity/signature 3.3 Current financial performance (KPIs) 3.4 Target customer / Customer profile – include segmentation and demographics and use visuals 3.5 Key competitors – plot your brand and key competitors on a Positioning Map, circle your brand and key competitors 3.6Place - Multi-channel retailing, national and international presence – number of stores and which brands are they located next to 3.7Product – Overview of new products proposed and their key features 3.8Price – Overview of proposed product pricing approach 3.9 Outline the proposed distribution approach, explaining the rationale for your decisions 4. Proposed Marketing Communication Plan (approx. 650 words) • You must pay particular attention to this element of the marketing mix. You are required to outline the proposed communication tools you intend to use to achieve your objectives. Creative implementation in the form campaign content, message and creativity, scheduling (what happens when for how long and with what frequency), and budgeting should be discussed. • This section of the report should be visually produced utilising your Adobe Software skills and include bullet points to navigate the reader through your proposed communication content and creative execution. • You are required to propose a new marketing campaign for your chosen brand based on your research of key marketing trends. • Your campaign should include the following promotional tools – 4.1 Advertising – consider your curated content and location to broadcast through advertising including video, billboard, TV and online 4.2 Digital Marketing – demonstrate social media campaigns and / or mobile marketing 4 4.3 Direct Marketing – consider CRM strategies – using the correct tone of voice for your brand write up and visualise an email to consumers and / or leaflets, SMS 4.4 Affiliate Marketing – Blogger outreach and / or websites 4.5 PR activities – Launch event and / or celebrity influencer 4.6 Marketing Plan – schedule the marketing activities with calendar dates and discuss the financial implications of the proposed marketing campaign and how you will measure the effectiveness of it Conclusions (approx. 100 words) Concluding statement to summarise the key recommendations presented in your report; Reference List Make sure that you use Harvard Referencing for all visual and written referenced material. Appendices Additional information to support your report. Please include the results of your online primary research i.e. evidence of survey and interviews. Detailed description and analysis of external and internal factors should be included in the relevant appendix and a summary of the key findings should be included in the report. FORMATIVE ASSESSMENT What is Formative Assessment? Formative Assessment is an activity designed to assist you in your learning by providing feedback from tutors. The work done for this Formative Assessment, and the feedback from tutors, helps you identify your strengths and weaknesses and to target areas that need further work in order to prepare you for presentations in future units. Whilst this Formative Assessment does not contribute to the final unit grade, it is very important. You will get from it: • Constructive verbal feedback from tutors and • Seeing your peers present; learning from them and your tutor feedback. Formative Assessment : Individual Presentations: Week 12 in the seminar class. You are required to prepare a 3 slide presentation that takes the audience through your section 4 of the report, your Proposed Marketing Communication Plan. The presentation is to include primary and secondary research, including analysis and synthesis of your findings. The presentation must be created using PowerPoint and be visually stimulating as well as informative. This is your opportunity to receive formative feedback on your proposed campaign. Rehearse and time your presentation to no longer than 3 minutes. See Moodle for a detailed brief. (Links to LO3) 5 General Submission Requirements • Word count: the word count indicated here includes all text from the first word to the last word of your report. It does not include: title page, executive summary, table of contents, list of figures, tables and charts in the report (including titles, descriptions and sources), reference list and appendices; • Any sources referred to must be cited in the text and listed in the Reference List (not included in the word count), following the Harvard method – see Referencing section below. This unit is accredited by the CMI and is mapped against CMI units 522 and 523. This forms part of the CMI Level 5 Diploma in Leadership & Management that is awarded on successful completion of the BSc Fashion Management. LCF is an Advanced Signatory to the United Nations Principles for Responsible Management Education (PRME). This unit references UN Sustainable Development Goal number 8 Decent Work and Economic Growth and 12 Responsible Consumption and Production. Online submission: Turnitin (Feedback Studio) UK You are required to submit your submission online via Turnitin (Feedback Studio). The submission point is located in the Moodle page in the section for the Marketing Management Unit you are submitting to. Be careful to ensure that you are submitting to the correct submission point. Your file can be submitted PDF (.pdf) file no larger than 40mb. You are advised to use Turnitin to support your writing process. You can submit your work to the Turnitin practise area and check your similarity report. This will allow you to make any amendments to your work before you submit your final piece of work by the deadline. 6 Scheme of Work Date, Session Topic and Learning Activity Self-Directed Study Activities Week 2: 26 October 2020 DAY 1: “This Unit This Week” – sets out expectations and learning activities. Includes weekly check in activity Lecture : Introduction to unit, welcome to Marketing Management Activity : Finding the brand Unit Leader Open Office Hours DAY 2: Lecture : Introduction to Marketing Mix Activity : Marketing Objectives, Read Chapter 10.2 Mike Easey DAY 3: Seminar 2hr: Introductory activity to Marketing Start to familiarise with the unit requirements. Start to conduct secondary research on your chosen brand; collate information on situation analysis and start considering your marketing objectives Readings: McDonald and Wilson (2016) Chs. 1, 2 Easey, Mike (2008) Chs. 1, 2 Week 3: 2nd November 2020 DAY 1: “This Unit This Week” – sets out expectations and learning activities. Includes weekly check in activity - Lecture: Market Sector Research Activity: Market Research Unit Leader Open Office Hours DAY 2: Lecture : The Marketing Environment Activity : Mission Statements, Macro Environment DAY 3: Seminar 1hr: UAL Library resources such as Mintel Seminar 1hr: Using the PESTEL, SWOT tools Find your brands annual reports, write up your introduction of brand, mission statement and KPIs. Develop your macro environment analysis and marketing objectives. Readings: Posner, H (2011) Chs. 1, 2 Easey, Mike (2008) Chs. 3 7 Week 4: 9th November 2020 DAY 1: “This Unit This Week” – sets out expectations and learning activities. Includes weekly check in activity Lecture: Fashion Segmentation Activity : Consumer Research Unit Leader Open Office Hours DAY 2: Lecture : Consumer decision-making process; consumer journey Activity : Consumer decision making research DAY 3: Seminar 2hr: Market Segmentation and customer profiles activity Finalise situation analysis and keep working towards your marketing objectives. Start to conduct consumer research and analysis. Create a customer profile. Start your STP analysis and Plan store visit Readings: McDonald and Wilson (2016) Chs. 3, 4 Dillon, S (2018) Pages: 110–137 Posner, H (2011) Chs. 4 Week 5: 16 November 2020 DAY 1: “This Unit This Week” – sets out expectations and learning activities. Includes weekly check in activity Lecture : Product Lifecycle and Planning Product Activity : Product Unit Leader Open Office Hours DAY 2: Lecture : Product branding Activity : Product DAY 3: Seminar 2hr: Exercise positioning map & Kapferer's prism Continue working and clarify the STP specific to your report Develop understanding of marketing mix. Start thinking about the proposed product strategy. Plan possible store visit Readings: Easey, Mike (2008) Chs. 6, 7, 8 Week 6: 23rd November 2020 DAY 1: “This Unit This Week” – sets out expectations and learning activities. Includes weekly check in activity Lecture : Place, Omni Channel Retailing Activity : Students' possible store visit (brand's store) Unit Leader Open Office Hours DAY 2: Lecture : Planning for price; cost markup Activity : Pricing DAY 3: Seminar 1hr: Pricing Seminar 1hr: Distribution Channels Start thinking about your proposed pricing and distribution strategy Readings: McDonald and Wilson (2016) Chs. 9, 11 8 Week 7: 30th November 2020 DAY 1: “This Unit This Week” – sets out expectations and learning activities. Includes weekly check in activity Lecture : Intro to marketing communications - overview of different channels Activity : Marketing communication research Unit Leader Open Office Hours DAY 2: Lecture : Communications theory to practice Activity : Read LSN Global and BOF articles DAY 3: Seminar 2hr: Student presentations Integrate tutor's feedback to your report Write up draft section 1-3 of report Readings: Posner, H (2011) Chs. 3 Week 8: 7th December 2020 DAY 1: “This Unit This Week” – sets out expectations and learning activities. Includes weekly check in activity Lecture : Micro and Macro marketing trends Activity : Read LSN Articles Unit Leader Open Office Hours DAY 2: Lecture : How to write the report & Make the Grade Activity : Preparing to write your report DAY 3: Seminar 2hr: Writing the report – peer feedback on section 1,2,3 Start thinking about proposed marketing communications using contemporary fashion marketing tools. Readings: Easey, Mike (2008) Chs. 6, 9, 10 Week 9: 14th December 2020 DAY 1: “This Unit This Week” – sets out expectations and learning activities. Includes weekly check in activity Lecture : Digital marketing Activity : Creating your marketing campaign Unit Leader Open Office Hours DAY 2 Lecture : Competitor analysis Activity : Create a positioning map DAY 3: Seminar 1hr: PR Seminar 1hr: Competitors Continue to formulate your proposed marketing communications strategy Readings: Posner, H (2011) Chs. 3 9 Week 10: 11th January 2021 DAY 1: “This Unit This Week” – sets out expectations and learning activities. Includes weekly check in activity Lecture : Personal selling, sales promotion, direct marketing (digital), loyalty programmes Activity : Email marketing Unit Leader Open Office Hours DAY 2: Lecture : Advertising campaigns Activity : Read Mike Easey Chapter 9 DAY 3: Seminar 2hr: Case Study : Analysis of Nike's existing advertising campaigns Continue to formulate your proposed marketing communications strategy Start thinking about the tools and content proposed for creative implementation of campaign. Readings: Posner, H (2011) Chs. 6 Week 11: 18th January 2021 DAY 1: “This Unit This Week” – sets out expectations and learning activities. Includes weekly check in activity Lecture : Media strategy and plan Activity : Channel Building Unit Leader Open Office Hours DAY 2: Lecture : Public Relations and Affiliates Activity : Social Media planning DAY 3: Seminar 1hr: Activity on influencers' plan Seminar 1hr: Innovative media: finding your consumer Continue to formulate your proposed marketing communications strategy using creative implementation. Start thinking about including a plan for your media strategy Readings: Posner, H (2011) Chs. 6 10 Week 12: 25th January 2021 DAY 1: “This Unit This Week” – sets out expectations and learning activities. Includes weekly check in activity Lecture : Communications budgeting Activity : Budgeting spreadsheet Unit Leader Open Office Hours DAY 2: Activity : Submit draft of section 4 the marketing campaign to receive formative feedback DAY 3: Group Tutorials to discuss formative assessment task A & B Start thinking about budgeting and costs included in your report Continue to think about including a plan for your media strategy Use feedback to develop your proposal Readings: McDonald and Wilson (2016) Chs. 12,13,14 Week 13: 1st February 2021 DAY 1: “This Unit This Week” – sets out expectations and learning activities. Includes weekly check in activity Lecture : Unit Recap Unit Leader Open Office Hours Continue to refine your proposed marketing communications strategy Make amendments to report based on Q&A Complete first draft of the report Readings: McDonald and Wilson (2016) Chs. 12,13,14 Week 14: 8th February 2021 DAY 1: “This Unit This Week” – sets out expectations and learning activities. Includes weekly check in activity Lecture : Assignment criteria and Q&A Unit Leader Open Office Hours ASSESSMENT SUBMISSION 8 February 2021 BY 15.00 (UK TIME) Refine report with tutor support Finalise report for submission The scheme of work is intended only as an outline of topics to be covered and is not a definitive list of what will be included in individual sessions. From time to time alterations may be made to the scheme of work to take account of students’ progress and unforeseen events or opportunities. If so, you will be informed in advance where possible, but please check Moodle daily. 11 Assessment Methods This unit is assessed holistically (100% of the unit) and is Pass/Fail only • An individual report (2000 words) Your work for this unit will be reviewed relative to the assessment criteria. However, as this is a ‘pass/fail’ unit you will not receive a letter grade. Please note UAL guidance on components: Non-submission in a mandatory component will result in a Fail for the unit. Assessment will be against the specified marking criteria. Learning Outcomes and Assessment Criteria Upon successful completion of this unit you will be able to demonstrate: 1. An understanding of the role of marketing in the achievement of organisational objectives (knowledge); 2. Evidence of evaluating the current position of a fashion organisation within its chosen sector or market (enquiry); 3. The application of relevant theory to plan marketing activities that contribute towards achieving organisational objectives (knowledge, process); 4. The ability to communicate in an appropriate business format that is well organised, well presented and actionable (communication). Assessment will be against the specified assessment criteria. The assessment website provides an overview of assessment regulations for your course. Unit and Assessment Costs The college provides a broad range of resources to support your studies and help you to produce work for assessment. However, you may have to pay additional costs. Depending on personal choice, these could include: • Purchasing of relevant textbooks if required, printing out material for presentations/tutorials You can discuss your choices and likely costs with your unit leader before starting your work. 12 Please note that work presented for assessment will be evaluated against unit learning outcomes using UAL’s assessment criteria. Grades are not based on the amount of money you spend on your assessment. Schedule of Key Dates Briefing 26 October 2020 Summative assessment 8 February 2021 Adjusted assessment 22 February 2021 Publication of assessment feedback 1 March 2021 Publication of Exam Board results 25 March 2021 End of year Exam Board 2 July 2021 You must check your student portal under myAssessments for the Exam Board results. Fair Assessment The University has robust processes in place to make sure that assessment is fair for all students and you can find out more on the Fair Assessment webpage. As part of its approach to fair assessment the University has an Anonymous Marking Policy. This means that for some assignments the marker will not know the name of the student whose work they are marking. This assessment will not be anonymously marked because the tutorial support will render anonymity impossible. However internal moderation and all other elements of the assessment process will remain in place for this assignment to make sure the assessment is fair, accurate and consistent for all students. 13 Summative Assessment Submission Details Date 8 February 2021 Time By 15:00 (UK time) Location Submission online via TurnItIn located in the Marketing Management unit page in Moodle. Adjusted Assessment deadline if your Individual Student Agreement (ISA) includes additional time for assessments: Date 22 February 2021 Time By 15:00 (UK time) Location Submission online via TurnItIn located in the Marketing Management unit page in Moodle. Digital Submission This assessment will be submitted via an online submission platform called Turnitin (Feedback Studio) UK. As part of the submission process, the University will utilise Turnitin (Feedback Studio) UK to check the authenticity and originality of your work.  The LCF Digital Learning site includes step-by-step guides to uploading assignments to Turnitin (Feedback Studio) and Moodle. If you have difficulties uploading your assignment, please contact [email protected]. Additionally, if you are experiencing technical difficulties uploading your assignment, please contact the e-Learning support team [email protected].  Please note: These services are only available during office hours. Submission information: Please note the following: 1. Ensure your work clearly states: • Your name and student ID number; • Your degree and year of study; • The title of the unit; • The name of the tutor; • Final word count 2. Do not hand your work in before the hand-in time, unless your Course Leader has previously agreed to this; 3. Submit your work personally. This is to ensure that it is delivered on time and to the right location; 4. Once you have submitted your work, you will not be able to access it again until after it has been assessed; 5. You must keep an electronic copy of all written and digital work; 14 6. Ensure that you get an email or hard copy receipt when you submit the work. Keep this receipt; Learning Resources Essential Reading Dillon, S. (2018) The Fundamentals of Fashion Management. 2nd edn. London: Bloomsbury Visual Arts https://www-bloomsburyfashioncentral-com.arts.idm.oclc.org/products/fairchild-bookslibrary/book/the-fundamentals-of-fashion-management Easey, Mike (2008) Fashion marketing, 3rd ed. Oxford: Wiley-Blackwell https://ebookcentral.proquest.com/lib/ual/detail.action?docID=428137 Fill, C. and Turnbull, S. (2016) Marketing Communications: discovery, creation and conversations. 7th edn. London: Pearson. https://www-vlebooks-com.arts.idm.oclc.org/Vleweb/Product/Index/858035 McDonald, M. and Wilson, H. (2016) Marketing Plans: How to prepare them, how to profit from them. 8th edn. Chichester: John Wiley & Sons. https://ebookcentral.proquest.com/lib/ual/detail.action?docID=706779 Posner, Harriet (2011) Marketing Fashion, London: Laurence King publishing https://ebookcentral.proquest.com/lib/ual/detail.action?docID=1876102 Further Reading and Resources Mitterfellner, O. (2020) Fashion Marketing and Communication : Theory and Practice Across the Fashion Industry. London. Taylor & Francis Group https://ebookcentral.proquest.com/lib/ual/detail.action?docID=5981798 Burk Wood, M. (2017) Essential Guide to Marketing Planning. 4th edn. Harlow: Pearson Education https://ebookcentral.proquest.com/lib/ual/detail.action?docID=5186047 Chaffey, D. and Smith, PR (2013) EMarketing Excellence: Planning and Optimizing for your Digital Marketing. 4th edn. New York: Routledge. https://ebookcentral.proquest.com/lib/ual/detail.action?docID=1143760 15 Jackson, T. and Shaw, D. (2008) Mastering Fashion Marketing. Palgrave Master Series. https://ebookcentral.proquest.com/lib/ual/detail.action?docID=4762624 Kapferer, J.N. (2012) The New Strategic Brand Management. 5th edn. London: Kogan Page. https://ebookcentral.proquest.com/lib/ual/detail.action?docID=871552 Kotler, P. and Armstrong, G. (2017) Principles of Marketing. Global edn. Essex: Pearson Education. Lea-Greenwood, G. (2013) Fashion Marketing Communications. Chichester: John Wiley & Sons. https://ebookcentral.proquest.com/lib/ual/detail.action?docID=1040816 Montecchi, M and Bonetti, F. (2018) ‘Managing Fashion Customers' in Varley, R., Roncha, A., Radclyffe-Thomas, N. and Gee, L. (eds.) Fashion Management: A Strategic Approach. London: Palgrave Macmillan, pp. 213-232. Websites Business of Fashion, The: www.businessoffashion.com Retail Week: http://www.retail-week.com/ Marketing Week: https://www.marketingweek.com/ McKinsey Global: http://www.mckinsey.com/insights/mgi LSN Global https://www-lsnglobal-com.arts.idm.oclc.org/ WGSN https://www-wgsn-com.arts.idm.oclc.org/fashion/ EDITED https://app.edited.com/ Linkedin Learning http://arts.ac.libguides.com/linkedin_learning Journals Academy of Management Journal Academy of Management Review Journal of Marketing Journal of Marketing Research Journal of Consumer Research Journal of Advertising Journal of Advertising Research Journal of Retailing 16 A complete list of academic journals available via the UAL e-library can be found here: http://arts.ac.libguides.com/c.php?g=366098&p=3228255 Scholarly Databases (access via http://arts.ac.libguides.com/businessandmanagement?p=2473608 ) Business Source Complete: scholarly business database, providing an extensive collection of bibliographic and full-text content. Emerald Management: scholarly publisher of journals and books in business and management ScienceDirect Journals: scholarly database of articles in the area of business and management Other Databases (access business & management databases via http://arts.ac.libguides.com/businessandmanagement?p=2473608 or all available databases via http://arts.ac.libguides.com/az.php) Business Source Complete (was Datamonitor) EDITED – the industry standard in retail analytics FAME – Financial Analysis made easy Fashion Monitor Kantar – Worldpanel Fashion (available via http://moodle.arts.ac.uk/mod/folder/view.php?id=75220) Mintel Academic Passport (was Euromonitor) Verdict Retail WGSN – Creative Intelligence LSN Global – market trends WWD CMI Resources The Chartered Management Institute provides numerous resources and articles relevant to this unit. 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