Marketing Essentials - Importance of a Market Plan for a Business - Marketing Assignment Help

Assignment Task:

Assessment on Importance of a Market Plan for a business:

This assignment is designed to introduce you to the principles of marketing, enabling them to develop a basic marketing plan and to employ elements of the marketing mix.

Learning Outcomes:

LO1: Explain the role of marketing and how it interrelates with other functional units of an organization.

LO2: Compare the ways in which organizations use elements of the marketing mix (7Ps) to achieve overall business objectives.

LO3: Develop and evaluate a basic marketing plan.

Scenario:

For this particular assignment, you have been given the role of marketing coordinator for an organization which operates in the region of your choice. You have been asked to make a detailed market analysis for your chosen organization of a particular industry which can help you to create a marketing plan for your selected organization. Your marketing analysis can be based on both micro and macro levels. Additionally, you will also investigate the key roles and responsibilities of the marketing function and its linkage with the other functional departments of the organization in order to help to achieve business objectives.

Task 1 

You are required to produce a detailed report:

• Explain the key roles and responsibilities of the marketing function.

• Analyze the roles and responsibilities of marketing in the context of the marketing environment.

1. The different roles of marketing within both a B2C and B2B context
2. The structure and operations of marketing departments
3. Overview of marketing processes that include analysis, strategic planning

• Explain how roles and responsibilities of marketing relate to the wider organisational context

• Analyze the significance of interrelationships between marketing and other functional units of your selected organization.

• Critically analyze and evaluate the key elements of the marketing function and how they interrelate with other functional units of an organization.

Task 2

As your organization is expanding the business and operating in a highly competitive environment, you need to:

• Compare the ways in which different organisations apply the marketing mix to the marketing planning process at least 2 belonging to different industries.\

Product: Differences between products and services, importance of brands, product development and product lifestyle; 

Price: Pricing context, pricing strategies and tactics. 

Place: Channel management, supply chain management and logistics; Promotion: Integrated communication mix and promotional tools. 

People: The different roles of ‘people’ in marketing, including customer interfacing and support personnel. The different skills, attitudes and behaviour of people delivering the product or service to customers. 

Physical evidence: The tangible aspects of service delivery − visual, aural and olfactory elements.

Process: Systems and processes involved in delivering a consistent service; Different types of processes used to expedite the marketing function.

Evaluate different tactics applied by these organisations to demonstrate how business objectives can be achieved.

The shift from the 4Ps to the 7Ps and the significance of the extended marketing mix.

• Produce a detailed, coherent evidence-based marketing strategic plan for your selected organization that tactically applies the use of the 7Ps to achieve overall marketing objectives.

1. The importance and value of marketing plans.

2. The links between marketing plans, marketing objectives and marketing strategies.

3. Structure and development of marketing plans.

4. Market segmentation and target market selection.

5. Setting goals and objectives, situational analysis tools and techniques,

6. creating a marketing strategy and allocation of resources and monitoring and control measures.

7.  Evaluating and monitoring marketing plans using appropriate control and evaluation techniques such as sales analysis, market share analysis, efficiency ratios and cost-profitability analysis.

Regulations/ Instructions:

1. Submission of coursework/assignment must be undertaken according to the tasks required and undertaken according to relevant procedures.

2. Aside from the printout copy, submitted, you also have to submit softcopy for Turnitin to check for plagiarism. (Your Instructor will discuss the procedure in class).

3. Please attach required forms such as Front sheet, Declaration of authenticity, etc. ((Your Instructor will discuss the procedure).

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