| Category | Assignment | Subject | Management |
|---|---|---|---|
| University | University of Wales | Module Title | LCBM7024 Marketing Management |
| Word Count | 2500 Words |
|---|---|
| Assessment Title | Assessment 1: Advantages of pioneers and followers |
One of the most important questions faced by business leaders in the strategic marketing process is a choice of timing to launch new product/technologies and enter new markets. There are two options: to be a pioneer or to be a follower. Both have advantages and risks, the relative success of each strategy depends on several factors, both internal and external.
LCBM7024 Essay Question
1a. What are the advantages of being a pioneer and a follower company? Provide examples of successful pioneer and follower companies.
1b. What product life cycle strategies do successful pioneer and follower companies implement to increase growth and maintain a strong competitive advantage? Provide examples of companies to support the statements made.
Please note the following when completing your written assignment:
1. Writing: Written in English in an appropriate business/academic style
2. Focus: Focus only on the tasks set in the assignment.
3. Document format: In essay format or any other suitable format appropriate to the context. The total word count should be equivalent of 2500 words. Ensure a clear title, course, and name or ID number are on a cover sheet, and a bibliography using Harvard referencing throughout is also provided.
4. Research: Research should use reliable and relevant sources of information, e.g. academic books and journals that have been peer reviewed. The research should be extensive.
The use of a range of information sources is expected – academic books, peer-reviewed journal articles, professional articles, press releases and newspaper articles, reliable statistics, company annual reports and other company information.
NOTE: The guidance offered below is linked to the five generic assessment criteria overleaf.
Your work must be informed and supported by scholarly material that is relevant to and focused on the task(s) set; you should make use of scholarly reviews and primary sources, as appropriate (for example, refereed research articles and/or original materials appropriate to the discipline). You should provide evidence that you have accessed a wide range of sources, which may be academic, governmental and industrial; these sources may include academic journal articles, textbooks, current news articles, organisational documents, and websites. You should consider the credibility of your sources; academic journals are normally highly credible sources, while websites require careful consideration/selection and should be used sparingly. Any sources you use should be current and up-to-date, mostly published within the last five years or so, though seminal/important works in the field may be older. You must provide evidence of your research/own reading throughout your work, using a suitable referencing system, including in-text citations in the main body of your work and a reference list at the end of your work.
Guidance specific to this assessment:
At level 7, you should be able to demonstrate a systematic understanding of knowledge, and a critical awareness of current problems and/or new insights, much of which is at, or informed by, the forefront of your academic discipline, field of study or area of professional practice, with a comprehensive understanding of techniques applicable to your own research or advanced scholarship. Your work must demonstrate your growing mastery of these concepts, principles, current challenges, innovation and insights associated with the subject area. Knowledge relates to the facts, information and skills you have acquired through your learning. You demonstrate your understanding by interpreting the meaning of the facts and information (knowledge). This means that you need to select and include in your work the contemporary concepts, techniques, models, theories, etc., appropriate to the task(s) set. You should be able to explain the theories, concepts, etc., meaningfully to show your understanding. Your mark/grade will also depend upon the extent to which you demonstrate your knowledge and understanding; ideally, each should be complete and detailed, with comprehensive coverage.
Guidance specific to this assessment:
You should be able to: evaluate critically current research and advanced scholarship in the discipline; evaluate methodologies and develop critiques of them, and, where appropriate, propose new hypotheses; deal with complex issues both systematically and creatively to make sound judgements in the absence of complete data. Your work must contain evidence of logical, analytical thinking, evaluation and synthesis. For example, to examine and break information down into parts, make inferences, compile, compare and contrast information. This means not just describing what! But also justifying: Why? How? When? Who? Where? At what cost? At all times, you must justify your arguments and judgments. Evidence that you have reflected upon the ideas of experts within the subject area is crucial to you providing a reasoned and informed debate within your work. Your choice of methodologies to gather data and information must be rigorously defended. Furthermore, you should provide evidence that you can make sound judgments and convincing arguments using data and concepts. Sound, valid, persuasive conclusions are necessary and must be derived from the content of your work. Where relevant, alternative solutions and recommendations may be proposed.
At level 7, you should be able to demonstrate originality in the application of knowledge, together with a practical understanding of how established techniques of research and enquiry are used to create and interpret knowledge in the discipline. This includes acting autonomously in planning and implementing tasks at a professional or equivalent level, originality in tackling and solving problems, and decision-making in complex and unpredictable contexts or situations.
You should be able to demonstrate mastery of the leading-edge subject-related concepts and ideas as they relate to real-world situations and/or particular contexts. How do they work in practice? You will deploy models, methods, techniques, and/or theories, in those contexts or circumstances, to assess current situations, perhaps to formulate plans or plausible, justifiable recommendations to solve problems, or to propose new models, or to create artefacts, which may be innovative and creative, thereby demonstrating your understanding of how the boundaries of knowledge are advanced through research and/or application. This is likely to involve, for instance, the use of real-world artefacts, examples and cases, the application of a model within an organisation and/or benchmarking one theory or organisation against others.
Guidance specific to this assessment:
Your work must provide evidence of the qualities and transferable skills necessary for postgraduate-level employment in circumstances requiring sound judgement, personal responsibility and initiative in complex and unpredictable professional environments. This includes demonstrating: the independent learning ability for continuing professional development to advance existing skills and acquire new competences of a professional nature that will enable you to assume significant responsibility within organisations; that you can initiate and complete tasks, projects and procedures, whether individually and/or collaboratively, to a professional level; that you can use appropriate media to effectively communicate information, arguments and analysis in a variety of forms for a variety of audiences; fluency of expression; clarity and effectiveness in presentation and organisation. Work should be coherent and well-structured in presentation and organisation.
In accordance with the Framework for Higher Education Qualifications, at the end of Level 7 students should be able to demonstrate: a systematic understanding of knowledge, and a critical awareness of current problems and/or new insights, much of which is at, or informed by, the forefront of their academic discipline or area of professional practice; a comprehensive understanding of techniques applicable to their own research or advanced scholarship; originality in the application of knowledge, together with a practical understanding of how established techniques of research and enquiry are used to create and interpret knowledge in the discipline; conceptual understanding that enables the student to evaluate critically current research and advanced scholarship in the discipline to evaluate methodologies and develop critiques of them and, where appropriate, to propose new hypotheses. They will be able to deal with complex issues both systematically and creatively, make sound judgements in the absence of complete data, and communicate their conclusions clearly to specialist and non-specialist audiences. They will demonstrate self-direction and originality in tackling and solving problems, and act autonomously in planning and implementing tasks at a professional or equivalent level to continue to advance their knowledge and understanding, and to develop new skills to a high level. They the qualities and transferable skills necessary for employment requiring the exercise of initiative and personal responsibility; decision-making in complex and unpredictable situations/professional environments; and the independent learning ability required for continuing professional development.
|
Level 7 |
FAIL |
FAIL |
MARGINAL FAIL |
SATISFACTORY (Pass) |
GOOD to VERY GOOD (Merit) |
EXCELLENT (Distinction) |
EXCEPTIONAL (Distinction) |
|
Category |
0-29% |
30-44% |
45-49% |
50-59% |
60-69% |
70-84% |
85-100% |
|
Engagement with literature (including current research, referencing, academic conventions and academic honesty) |
Little or no evidence of reading and/or reliance on inappropriate sources. Views and findings mostly unsupported and non- authoritative. Referencing conventions used incoherently or largely absent. |
Poor engagement with essential reading. No evidence of wider reading. Reliance on inappropriate sources, and/or indiscriminate use of sources. Heavily reliant on information gained through class contact. Inconsistent and weak use of referencing. |
Engagement with a very limited range of relevant and credible sources. Some omissions and minor errors. Referencing conventions evident though not always applied accurately or consistently. |
Engagement with an appropriate range of research- informed literature, including sources retrieved independently. Some over- reliance on texts. Referencing may show minor inaccuracies or inconsistencies. |
Engagement with a wide range of research- informed literature, including sources retrieved independently. Selection of relevant and credible sources. Very good use of referencing, with no/very few inaccuracies or inconsistencies. |
Engagement with an extensive range of relevant and credible literature, informed by the latest research. Consistently accurate application of referencing. |
Exceptional engagement with an extensive range of relevant and credible literature, informed by the latest research. High-level referencing skills consistently and professionally applied. |
|
Knowledge and |
Major gaps in knowledge and |
Gaps in knowledge, with |
Limited knowledge and |
Knowledge is accurate and |
Knowledge has a well-defined |
Excellent mastery of a |
Exceptional mastery of a |
|
Level 7 |
FAIL |
FAIL |
MARGINAL FAIL |
SATISFACTORY (Pass) |
GOOD to VERY GOOD (Merit) |
EXCELLENT (Distinction) |
EXCEPTIONAL (Distinction) |
|
Category |
0-29% |
30-44% |
45-49% |
50-59% |
60-69% |
70-84% |
85-100% |
|
understanding (A systematic, conceptual understanding of knowledge, and a critical awareness of current problems and/or new insights, much of which is at, or informed by, the forefront of the discipline; a comprehensive understanding of techniques applicable to their own research) |
understanding of the subject matter is not systematic. Substantial inaccuracies. No awareness of current problems, insights or the latest research and/or advanced scholarship within the discipline. |
only superficial systematic understanding. Some significant inaccuracies and/or irrelevant material. No critical awareness of current problems, insights, or latest research within the discipline. |
systematic understanding of the concepts and principles within the subject area, which to some marginal extent, is informed by current research and scholarship. Some critical awareness of current problems and/or new insights, but often under- developed. |
reasonably detailed. A systematic understanding of the field of study informed by, to some extent, current research and scholarship, A critical awareness of current problems and/or new insights though this may be under-developed occasionally. |
focus, which is reasonably extensive, coherent and detailed, with a critical awareness of current problems and/or new insights. Exhibits good understanding of the breadth and depth of contemporary and established views, and the work is, at least in part, well- informed by current research and scholarship. |
complex and specialised area of knowledge. A systematic, excellent understanding of the concepts of the subject informed by current research and scholarship. Highly critical awareness of current problems and/or new insights. A critical, awareness of how the boundaries of knowledge are advanced through research. |
complex and specialised area of knowledge. An exceptionally critical awareness of current problems and/or new insights. An outstanding understanding of the concepts of the subject, well- informed by current research and scholarship. A critical, sophisticated and nuanced awareness of how the boundaries of knowledge are advanced through research. |
|
Cognitive and intellectual skills (Critical evaluation of current research and methodologies and develop critiques of them and, where appropriate, to propose new hypotheses; make sound |
Wholly or almost wholly descriptive work. Little or no evaluation or critique or attempt at a systematic approach. Failure to develop arguments, leading to illogical or invalid |
Largely descriptive work, with superficial use of critical evaluation of research and methodologies. Absent or weak development of hypotheses and judgements. Information accepted uncritically, uses |
Limited attempt at critical evaluation/ critique of current research and methodologies, tending towards description. Limited attempt to propose new hypotheses. Can deal with complex issues |
Some critical evaluation/ critique of current research and methodologies, though slightly underdeveloped in places, Proposes adequate but limited new hypotheses, where relevant. |
Sound critical evaluation/ critique of current research and methodologies, Proposes new hypotheses, where appropriate. Can deal with complex issues systematically and with some |
Excellent critical evaluation/ critique of current research and methodologies, Proposes innovative hypotheses, where appropriate. Can synthesise complex issues systematically |
Exceptional critical evaluation/ critique of current research and methodologies, Proposes innovative hypotheses, where appropriate. Exemplary systematic and |
|
Level 7 |
FAIL |
FAIL |
MARGINAL FAIL |
SATISFACTORY (Pass) |
GOOD to VERY GOOD (Merit) |
EXCELLENT (Distinction) |
EXCEPTIONAL (Distinction) |
|
Category |
0-29% |
30-44% |
45-49% |
50-59% |
60-69% |
70-84% |
85-100% |
|
judgements in the absence of complete data.) |
judgements. Unsubstantiated generalisations, made without use of credible evidence. |
generalised statements made with scant evidence and unsubstantiated opinions. Ideas sometimes illogical and contradictory. |
but not systematically or creatively. Some evidence to support emerging judgements but these may be underdeveloped or with a little inconsistency / mis- interpretation. May assert rather than argue a case. |
Can deal with complex issues but not fully systematically or creatively. Ability to make judgements based on data (that may be incomplete) but with some tendency to assert/state opinion rather than argue on the basis of reason and evidence. |
creativity. Ability to make sound judgements based on data (that may be incomplete) |
and creatively. Ability to investigate contradictory or incomplete information and make strong, persuasive, arguments and sophisticated judgements. |
creative synthesis of complex issues. Ability to investigate contradictory or incomplete information and make strong, persuasive, arguments and sophisticated, nuanced, judgements. Potential for journal publication or doctoral research. |
|
Practical skills (Originality / creativity in the application of knowledge, tools and techniques and in tackling and solving problems in complex and unpredictable professional situations; practical use of established techniques of research and enquiry to create and interpret knowledge in the discipline.) |
Limited or no use of methods, materials, tools and/or techniques. Little or no appreciation of the context of the application. Limited understanding of the application of theory to practice or making appropriate links between the two. Very weak problem-solving skills in complex and |
Rudimentary application of methods, materials, tools and/or techniques but without consideration and competence. Flawed appreciation of the context of the application. Weak understanding of the application of theory to practice, with only occasional evidence of |
An awareness and mostly appropriate application of well-established methods, materials, tools and/or techniques, with occasional errors. Basic appreciation of the context of the application. Theoretical knowledge and understanding applied in practice, but not always making |
An appropriate application of standard methods, materials, tools and/or techniques. Clear appreciation of the context of the application. Mainly consistent, accurate and logical application of theory to practice, making appropriate links between the two. |
A very good application of a range of methods, materials, tools and/or techniques. Very good consideration of the context of the application, with perceptive insights. Can identify problems and propose appropriate solutions in complex and unpredictable contexts. |
An advanced application of knowledge, methods, materials, tools and/or techniques. The context of the application is well considered, and insightful. Can identify complex problems and propose excellent solutions. An excellent grasp of techniques applicable to own research or |
Exceptional application skills in complex, unpredictable, contexts, drawing skilfully on the latest research within the discipline. Can identify complex problems and propose sophisticated, original solutions. An outstanding application of techniques applicable to own research or |
|
Level 7 |
FAIL |
FAIL |
MARGINAL FAIL |
SATISFACTORY (Pass) |
GOOD to VERY GOOD (Merit) |
EXCELLENT (Distinction) |
EXCEPTIONAL (Distinction) |
|
Category |
0-29% |
30-44% |
45-49% |
50-59% |
60-69% |
70-84% |
85-100% |
|
|
unpredictable contexts. |
making appropriate links between the two. Weak problem- solving skills in complex and unpredictable contexts. |
logical links between the two. Can identify problems and propose basic solutions without fully appreciating the complexity of unpredictable contexts. |
Can identify problems and propose mostly appropriate solutions in complex and unpredictable contexts, with elements of originality. |
Evidence of originality and creativity. |
advanced scholarship. Shows originality in application of knowledge and techniques, and of how established techniques of enquiry create and interpret knowledge in the discipline. |
advanced scholarship. Shows originality in application of knowledge and techniques, and of how established techniques of enquiry create and interpret knowledge in the discipline with assimilation and development of cutting edge processes and techniques. |
|
Transferable skills for life and professional practice (Exercise of self- direction, autonomy and personal responsibility; plan and implement tasks at a professional level; independent learning; use appropriate media to communicate effectively and professionally to a variety of audiences; fluency of expression; systematic |
Communication medium is inappropriate or misapplied. Work is poorly structured, disorganised and/or confusingly expressed. Very weak use of language and/or very inappropriate style. Little or no evidence of autonomy (or collaboration, where relevant) in the completion of tasks. Little or no evidence of |
Communication medium is poorly designed and/or not suitable for the audience. Work is poorly presented in a disjointed manner. It is loosely, and at times incoherently, structured, with information and ideas often poorly expressed. Weak use of language and/or inappropriate style. Weak independent |
Can communicate in a suitable medium but with some room for improvement. Mostly ordered presentation and structure in which relevant ideas / concepts are reasonably expressed. Work may lack coherence in places. Can work as part of a team, but with limited involvement in group activities. |
Can communicate effectively in a suitable format, but may have minor errors. Mostly coherent, organised work, in a suitable structure and is for the most part clearly expressed. Can work effectively independently and/or as part of a team, with clear contribution to group activities. Demonstrates the skills |
Can communicate well, confidently and consistently in a suitable format. Work is coherent, fluent, well-structured and organised. Can work very well autonomously and/or as part of a team, with a good contribution to group activities. Demonstrates comprehensive professional, postgraduate |
Can communicate professionally confidently and consistently in a suitable format. Work is coherent, very fluent and is presented professionally. Can work autonomously with initiative. Where relevant can work professionally within a team, showing leadership skills as appropriate, managing |
Can communicate with an exceptionally high level of professionalism. Work is remarkably coherent, very fluent and is presented professionally. Can work outstandingly well and professionally within a team, showing advanced leadership skills. Demonstrates exemplary |
|
Level 7 |
FAIL |
FAIL |
MARGINAL FAIL |
SATISFACTORY (Pass) |
GOOD to VERY GOOD (Merit) |
EXCELLENT (Distinction) |
EXCEPTIONAL (Distinction) |
|
Category |
0-29% |
30-44% |
45-49% |
50-59% |
60-69% |
70-84% |
85-100% |
|
approach; clarity and effectiveness in presentation and organisation.) |
the skills required in professional, postgraduate employment. |
initiative (or collaboration, if relevant). Limited evidence of the skills required in professional, postgraduate employment. |
Demonstrates some but not all of the basic skills required in professional, postgraduate employment, with some areas of minor weakness. |
required in professional, postgraduate employment, with some areas of strength and some of minor weakness. |
employment skills. |
conflict and meeting obligations. Demonstrates excellent professional, postgraduate employment skills and a strong appetite for further development. |
professional, postgraduate employment skills and a strong appetite for further development. |
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