Introduction
Task
The race betwen The Bull and The Monster is so energetic
The two of the most popular energy drinks on the market—Red Bull and Monster Energy—both promise to wake you up and keep you going. Red Bull guarantees to “give you wings” while Monster Energy dares you to “unleash the beast,” but we’d rather find out which brand is energizing. To find out we’ve a comparaive study question for you to explore.
More infromation is provided through the webquest to assist you in comleting the online comparative studies findings the concepts of each company relating to the markeitng mix.
This Webquest will have lins providing each marketing mix compnent of each company to evluate and continue the websquest task in order to achieve the learning goals
The Four P's are :
Product
Price
Place
Promotion
Task objective: Analyse, compare and contarst both company marketing startegie to evaluate the diferences startedgie they apply
Task outcomes covered are :
H5 explains management strategies and their impact on businesses
H7 plans and conducts investigations into contemporary business issues
H8 organises and evaluates information for actual and hypothetical business situations
H9 communicates business information, issues and concepts in appropriate formats
Process
These Keywords Glossary sheet will help students to understand what is the question required for answer:
Glossary of Key Words
(relevant to Business Studies)
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Account |
Account for: state reasons for, report on. Give an account of: narrate a series of events or transactions
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Analyse |
Identify components and the relationship between them; draw out and relate implications
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Assess |
Make a judgement of value, quality, outcomes, results or size
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Calculate
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Ascertain/determine from given facts, figures or information
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Compare |
Show how things are similar or different
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Contrast |
Show how things are different or opposite
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Critically (analyse/evaluate) |
Add a degree or level of accuracy depth, knowledge and understanding, logic, questioning, reflection and quality to (analyse/evaluate)
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Define |
State meaning and identify essential qualities
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Demonstrate |
Show by example
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Describe |
Provide characteristics and features
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Discuss |
Identify issues and provide points for and/or against
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Distinguish |
Recognise or note/indicate as being distinct or different from; to note differences between
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Evaluate |
Make a judgement based on criteria; determine the value of
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Examine |
Inquire into
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Explain
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Relate cause and effect; make the relationships between things evident; provide why and/or how
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Identify |
Recognise and name
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Justify |
Support an argument or conclusion
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Outline |
Sketch in general terms; indicate the main features of
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Propose |
Put forward (for example a point of view, idea, argument, suggestion) for consideration or action
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Recommend |
Provide reasons in favour
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Task 1 : Gain deep understading of the concept of marketing mix to be able to complete the Comparatice study:
Question A : Define the meaning of Producy. What is the difference between a product and serivce.
Question B : How does does marketing research help determining target market?
Question C : Discuss the effective strategy to set yo to set up proce for a product and service which helps attracting customers.
Queston D: distinguish between penetration pricing strategy af skiming pricing strategy.
Question E: Define the elements of promotion mix and give examples of each one of them.
Resources used for this task:
http://www.agecon.ksu.edu/jarata/agec318/ch8.pdf