Marketing Management Continuous Assessment Specifications Course instructors: Dr. Marius Claudy Submission: Each report must be accompanied by the cover page (attached in this brief) & contain day/time of class, group number, students’ names/numbers, signatures & word count. Percentage of total module marks: 40% Word Count: 3,000 - 3,500 (excluding references and appendices) Group management: It is a responsibility of the group members & is a key part of course learning outcomes. It is the obligation of each student in the group to engage with the other group members in a meaningful way & to adhere to agreed tasks and deadlines. There will be the option for each group to participate in peer to peer evaluation at the end of the project. Purpose of the continuous assessment: The central focus of the assignment is to provide participants with the opportunity to apply key marketing concepts to the critical issues in the assigned case scenario. Develop a Consumer Marketing Strategy for Whirlpool Ireland Company Background Whirlpool Corporation are the number one major appliance manufacturer in the world, with approximately $21 billion in annual sales, 97,000 employees and 70 manufacturing and technology research centers in 2015. The company markets Whirlpool, KitchenAid, Maytag, Consul, Brastemp, Amana, Bauknecht, Jenn-Air, Indesit and other major brand names in nearly every country throughout the world. In Ireland, we only market KitchenAid, Whirlpool, Hotpoint and Indesit. For generations, we have done the right thing, helping people make the most of time so they can focus on what really matters – their families and their lives. In everything we do, for generations to come, we will sustain our commitment to make each experience an extraordinary one. We have a legacy of fulfilling our financial commitments. Delivering on our financial obligations affords us the opportunity to be more than just a good investment. We are passionate people who create products and solutions that improve the lives of other people by delivering the canvas that collects a home’s most cherished memories. We exist to create purposeful innovation that helps keep homes running smoothly so personal and family lives can flourish. Focusing on consumer needs, not only industry trends, fuels our growth and keeps us relevant in homes around the world. We are focused on building a company capable of delivering superior shareholder value and helping people make the most of moments that matter. We create purposeful technology that helps free up your schedule for what really matters. We feel that our products should positively impact your life right now, otherwise it’s just technology for the sake of technology. Our brands and products help you appreciate today with an eye towards tomorrow. Based on the figures below (research conducted by GFK), Whirlpool Corporation held 21.9% of the market in 2016 (based on units sold out of retailers), down from 22.7% in 2015. 2015 2016 Beko 10.5 11.8 Belling 5 5.1 Bosch 7.6 8.3 Candy 2.7 2.8 Electrolux 3.1 3.4 Hoover 2.7 3 Hotpoint 6.8 5.7 Indesit 5.6 6.9 Nordmende 3.2 3.2 Samsung 3.2 2.6 Whirlpool 10.3 9.3 Zanussi 16.7 15.8 Tradebrands 9.5 9.1 Others 13.1 13 The washing machine segment is the strongest element of our business as we hold 32.1% (W 13.1%, H 7.6%, I 11.4%), followed by tumble dryers at 32% (W 6%, H 10.4%, I 15.6%). Cooking is the segment of our business which we have the most potential in, we only had 12.5% of the unit sales in 2016 (W 3.9%, H 4.4%, I 4.2%). It is important to note that GFK does not support all of the retailers we sell into, so the figures may have discrepancies to what has occurred in the marketplace, but we do believe it is an accurate representative. Our corporate website can be found at www.whirlpoolcorp.com where you can find out more about our corporation as a whole, our domestic websites can be found at www.whirlpool.ie / www.hotpoint.ie / www.indesit.ie where you can find out information regarding our product offerings. The Showroom In May 2016 Whirlpool opened its new Showroom, which is home to four leading consumer brands: KitchenAid, Whirlpool, Hotpoint and Indesit. The showroom is used predominantly as a training facility for Whirlpool’s trade partners. All new partner trainees come through the showcase academy where we train them on our products and the key selling features. We also offer continuous training to longer members of staff making sure they know about our new products ensuring they have the information they need to sell our products on the shop floor. As more people come through the showroom, it has become clear that the experience has a positive influence on our business partners’ and customers’ purchase decision. We have notified all of our trade partners that the showroom is available as a referral home for their customers. Due to the nature of our business and the competition in the market, there is limited space available to brands on a retailer’s shop floor, so our showroom is an extension of their shop floor. If a customer of one of our retail partners is interested in buying a suite of appliances, they can come into us for the best advice and a consultation for the best product to suit their needs. The Marketing Challenge The marketing challenge is to develop a marketing plan, which aims to more effectively integrate the showroom into consumers’ decision making process in order to drive Whirlpool’s sales and market share in the Irish appliances market. Specifically, the aim is to increases customer footfall and in doing so drive overall Whirlpool’s market value and market share. In order to do so, you will have to 1. Understand Whirlpool’s position within the Irish appliance market 2. Conduct a competitive analysis of how other brands utilise showrooms 3. Analyse the consumer decision journey 4. Formulate strategic objectives 5. Develop a marketing plan You will present your findings and recommendations to Whirlpool’s marketing team in the last week of class. Structure of the Report 1. Executive Summary 2. Introduction 3. Analysis Whirlpool’s Competitive Positioning in Ireland • Analysis market position and trends (PESTEL; SWOT) • Competitive analysis of showrooms Consumers’ Decision Journey • Online and offline touchpoints • Current role of the showroom • Role of “key influencers” and “opinion leaders” 4. Strategy • Marketing Strategy • Marketing Objectives 5. Marketing Plan • Seven Ps (Product, Price, Promotion etc.) 6. Measurement and KPI’s 7. Conclusion Recommendations 8. Bibliography (not included in your word count) 9. Appendices Marks will be awarded as follows: Assessment criteria Marks • The depth and quality of marketing analysis and rationale of proposed marketing plans: o Good understanding of the business environment based on the available data o Formulation of realistic strategic objectives o Clear rationale for chosen marketing mix strategies and why the chosen approach is seen as the most effective for the presented challenge (including decisions on tactical marketing elements such as promotion or price) o Evidence of application of appropriate & relevant marketing concepts from the course & other readings to the case study. o Cohesive plan where each of the elements makes sense in the context of the others to comprise an integrated, well thought through, balanced coherent plan 40% • Ability to think creatively to meet the challenges set out in the case study including application of innovative and up-to-date thinking. 10% • Quality of writing and report presentation (including grammar, referencing style and general structure and layout of the report). 10% • Presentation of report 40% Total continuous assessment 100% Useful resources: • Your core text book and participation at lectures • Mintel reports (through UCD library website in databases, very useful for industry reports) • WARC (through UCD library website in databases) • CSO/ESRI (for statistics and reports) • Marketing Journals Supplementary Industry Research Links http://www.consumerbarometer.com www.euromonitor.com https://yougov.co.uk http://www.ieba.ie/ http://www.marketresearch.com/ Assessment Submission Form Assessment Title Marketing Plan Module Marketing Management Module Coordinator Dr. Marius Claudy Group Number Class (day & time) Date Submitted A SIGNED COPY OF THIS FORM MUST ACCOMPANY ALL SUBMISSIONS FOR ASSESSMENT. Plagiarism: the unacknowledged inclusion of another person’s writings or ideas or works, in any formally presented work (including essays, examinations, projects, laboratory reports or presentations). The penalties associated with plagiarism designed to impose sanctions that reflect the seriousness of University’s commitment to academic integrity. Ensure that you have read the University’s Briefing for Students on Academic Integrity and Plagiarism and the UCD Plagiarism Statement, Plagiarism Policy and Procedures, (http://www.ucd.ie/registry/academicsecretariat/docs/plagiarism_po.pdf) Declaration of Authorship I declare that all material in this assessment is my own work except where there is clear acknowledgement and appropriate reference to the work of others. Student Name Student Number Student Signature