You are employed as a manager in a medium size business which is a limited company and has ambitions to expand. The Managing Director (MD) of the organisation is not a marketing professional and does not have a good understanding of the role of marketing in business. He knows from your CV that you have studied marketing principles and practice and he is keen to use your knowledge and understanding. At a meeting with the MD you are asked to complete the following tasks.
Your first task is to help him understand the role of marketing in business. You need to explain to the MD what marketing is and how both internal and external factors affect the achievement of business objectives. You have decided to produce a file which addresses each of the topics listed below. You will present the file at your next meeting with the Managing Director. In your file you will include:
• a definition of marketing.
• an explanation of what contribution marketing can make to the achievement of business objectives
• an analysis of how external factors influence marketing
• an explanation of the elements of the marketing process
As the purpose of your file is to provide an understanding of marketing in business you also decide to include an explanation of the role of marketing in a not for profit business
LO1, assessment criteria, 1.1, 1.2, 1.3, 1.4, 1.5
Following a successful meeting with the MD, who was delighted with the file and your explanations and analysis, you have been asked to prepare a presentation for the Board of Directors, so they understand the principles of marketing. This will show how marketing will equip the management of the business with more effective tools. The MD wishes to see the materials before they are used at the Board Meeting. He has also made it clear that as the Board members are involved with other activities outside of the business the presentation must include PPT slides with an accompanying handout which they can read following the meeting. You are required to give the materials to his assistant for his consideration. The presentation and the handout must cover the following.
• an explanation of the different elements of the marketing mix
• an explanation of the methods of segmenting markets
• an evaluation of the benefits of segmenting markets
• an analysis of the different methods of researching a market
• an explanation of how current technology impacts on marketing activity
LO2, assessment criteria 2.1, 2.2, 2.3, 2.4, 2.5
Your work and the meeting which followed could not have gone better! The Managing Director has revised your job description and given you a particular responsibility for marketing in the business. You decide to produce some detailed notes on the application of the marketing mix in a specific business, so you can see how this might apply to your own company. The notes should:
• review the market segments for a specific and stated product or business
• analyse how this business positions its products or services
• explain how the products are distributed
• analyse the use of pricing strategies in the business
• analyse the promotional strategy used by the business
LO3, assessment criteria 3.1, 3.2, 3.3, 3.4, 3.5
The Board of Directors is delighted that marketing is now a key function in the business and there is a marketing expert of your calibre, who is able to advise them on how marketing could revolutionise the business! You have been asked to develop a marketing plan for a specific product or service. This must be agreed with your tutor.
You have been asked to develop your marketing plan under the following headings ready for the next Board Meeting
1. The strategic aims and objectives for the plan
2. Target market/s for specified marketing activities with justification
3. An analysis of the macro and micro environmental factors influencing the marketing planning
4. The proposed marketing mix for the product or service chosen
5. An explanation of how factors relevant to the implementation of the plan have been considered