Highlights
Learning Outcomes:
After completing the module, you should be able to:
1. Explain the marketing process, with particular reference marketing audits, orientation, environmental analysis, marketing planning
2. Distinguish the contribution of the elements of the extended marketing mix to effective marketing planning
3. Use the concepts of segmentation, targeting and positioning to respond to marketing problems
4. Apply the marketing mix in selected situations.
5. Show situational awareness when applying the extended marketing mix.
Section 1 – Marketing Environment and Planning Process
a) Briefly introduce your product. Explain the components of the marketing planning process and outline the marketing context for the new yoga franchise, with particular reference to the role/importance of adopting a marketing orientation and its application to the business.
b) Carry out an environmental audit in the form of a PESTEL analysis for the new yoga franchise ensuring that you detail specific market/organisational related facts that are fully referenced where possible. Additionally, you should highlight relevant micro-environmental aspects such as any dominant competitors within the industry and recent competitor activity and other substitutes available.
c) Outline* the extended marketing mix 7Ps and explain how the development of the extended marketing mix could contribute to effective marketing planning for the new product.* a fully detailed marketing mix analysis is NOT required here – that is required in Section 3 here you are explaining the importance of building a strong and coordinated marketing mix.
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