Tuesday, March 27, 2018

SBS MBA - Marketing - Assignment 2018


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TASK DESCRIPTION – ASSIGNMENT

BACKGROUND / INTRODUCTION

As a Marketing Consultant, prepare the following for an organisation of your own choice:

1. An individual written report consisting of a maximum 3000 words addressing the key Marketing Management tasks detailed below in Assignment.

TASKS

Assignment:

As a marketing consultant, construct a business report for an organisation of your choice, covering the following five aspects of Marketing Management:


Question. 1. With the use of appropriate marketing models and concepts, critically examine the current market position of one of your chosen organization’s products.


Answer: Introduction: Positioning refers to the place that a brand occupies in the mind of the customer and how it is distinguished from products from competitors. In order to position products or brands, companies may emphasize the distinguishing features of their brand (what it is, what it does and how, etc.) or they may try to create a suitable image (inexpensive or premium, utilitarian or luxurious, entry-level or high-end, etc.) through the marketing mix. Once a brand has achieved a strong position, it can become difficult to reposition it.



Question. 2. In light of the above findings, state and justify THREE marketing objectives that your chosen organization should pursue for this product over the next three-year period.


Answer: To be successful in a particular market a product must occupy an "explicit, distinct and proper place in the minds of all potential and existing consumers". It has to also be relative to other rival products with which the brand competes.

Visibility and recognition is what product positioning is all about as the positioning of a product is what the product represents for a buyer the business is


Question. 3. Identify three target segments, and demonstrate how your chosen company will develop loyalty with those consumers over the strategic three-year horizon.


Answer: A target market is a group of customers within a business's serviceable available market that the business has decided to aim its marketing efforts towards. Target markets consist of consumers who exhibit similar characteristics (such as age, location, income, and lifestyle) and are considered most likely to buy a business's product or service.

Three main activities of target marketing are segmenting,



Question. 4. How would you use the Marketing Mix and other marketing tools to position your brand in a competitive industry?


Answer: Thinking about all the elements in your business, no matter how small they may seem, can help you position your business and therefore your products and services in the market.

The 5 Ps are key marketing elements designed to help you think about your business strategically. Put broadly, marketing is a mix of business activities that aims to build your brand and business in a consistent way.




Question. 5. In the Annexure to the report, you must outline the key areas of study and research you have undertaken and then specify the literature and other evidence sources you have used to complete the requirements of this assignment.”


Answer: The world has become excited about big data and advanced analytics not just because the data are big but also because the potential for impact is big. Our colleagues at the McKinsey Global Institute (MGI) caught many people’s attention several years ago when they estimated that retailers exploiting data analytics at scale across their organizations could increase their operating margins by more than 60 percent and that the US healthcare sector could

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1 comment:

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