Marks lost for forgetting one element of extended response (1 Viewer)

[mathsnoob]

Was wondering, how many marks do you think you would have lost in q28 if you fully discussed in detail the market research process and fully related it to the objectives of financial market, but forgot to discuss the marketing plan and only briefly mentioned that it helped achieve target market and develop strategies? Also if you fully linked everything to the Case Study well and had a good structure.

 

[kenshinx77]

As long as you did some of the elements of marketing plan and use xase study you shouldnt lose more than 6 marks. I'll say they'll probs penallise around 2-3 marks

 

[alina yousif]

It depends... Marketing plan is a pretty big section compared to market research and objectives of financial management.. So really it depends

 

[Brennyd]

the marketing plan was definitely the smallest part of the question, if you mentioned it a little bit i think it would be quite sufficient. it asked for an analysis of the market research process so i donno.

 

[alina yousif]

the marketing plan was definitely the smallest part of the question, if you mentioned it a little bit i think it would be quite sufficient. it asked for an analysis of the market research process so i donno.

yeah but it said "analyse how the marketing research process may ASSIST a business to DEVELOP its marketing plan.." so it's not merely "analyse the market research process", it had to be integrated and in comparison to financial management, the marketing plan is pretty long and vital .. that's what i think. i know the bos limited business studies extended verbs to one and one of the comments they made was that students had to use that one verd such as, "analyse" to integrate the answer not just do it on it's own.. so who knows

 

[Brennyd]

yeh but i think the majority is about the research process, but yes i agree that u need to talk about the marketing plan in some depth but probably not as much as the research process.. i guess it depends on how well it is all linked together, to answer the actual question..

 

[the-derivative]

I think a more integrated approach would've been what markers were looking for, so if you didn't say explicitly - 'these are the 5 elements of the marketing plan and this is how the research assists it', BUT rather you said - this is stage 1 of the research process, describe it and then say it helps lets say setting objectives, then you'll be fine. Because in my opinion, shared with my teacher as well, the focus is on the Marketing Research, not the plan.

 

[Brennyd]

thanks... thats what i thought also.

 

[Michaelmoo]

Hold on a second. The way I see it, the market planning process is the focus. Market research is integrated under situational analysis. Establishing market objectives should complement market research, and cater for the financial objectives of the business. The rest of the process carries on from there.
I guess it really depends how you approached it then. Like they say, there are a range of answers. Thats how I approached it atleast.

 

[alina yousif]

Hold on a second. The way I see it, the market planning process is the focus. Market research is integrated under situational analysis. Establishing market objectives should complement market research, and cater for the financial objectives of the business. The rest of the process carries on from there.
I guess it really depends how you approached it then. Like they say, there are a range of answers. Thats how I approached it atleast.

Ditto. I approached it by firstly outline the market research process before jumping into any sort of integrated answer and then from there on I wrote about the marketing plan, explained each element and then at the end of each element for instance, swot analysis I integrated how the market research assisted in developing it. I also drew a swot analysis for both my case studies (hsbc and westpac) and then I integrated how the process assisted with financial objectives. I guess there isn't a completely right answer, depends how you approach it and whether or not you used case studies to back up your arguement.. Cheers

 

[ashleigghh]

I did the same.. I began by talking about the market research process, and then my extended response was structured around the 5 elements of the marketing plan, then within that, i integrated how the market research can assist in each phase, and then how each phase can help achieve financial objectives i thought it was a great question!