Words: 1346
| |Edexcel Level 7 | | | |BTEC Postgraduate Advanced Diploma Management Studies |[pic] | | |FINAL ASSESSMENT ACTIVITY : | | | |UNITS No: 07 | | | |Strategic Marketing Management | | |Module Name |STRATEGIC MARKETING MANAGEMENT | Aim This unit provides the learner with the understanding and skills to support active engagement in the process of strategic marketing management. Summary of Learning Outcomes 1. Understand the principles of strategic marketing management 2. Understand the tools used to develop a strategic marketing strategy 3. Be able to use strategic marketing techniques 4. Be able to respond to changes in the marketing environment
Unit Introduction: Marketing is at the core of business. Outperforming the competition requires solid marketing knowledge and precise marketing decision making. An organisation’s positioning, and the positioning of its products and services, depends on the formulation and implementation of intelligent and well-informed strategic marketing plans. All organisations operate in a dynamic marketplace. Competition, consumers, technology and market forces constantly redefine the way organisations operate. Staying competitive means that organisations need to continuously adjust and adapt their customer approach to meet changing needs and expectations.
This is increasingly important with the globalisation of markets and the rapid increase in competition from emerging nations such as China, India and Brazil. In today’s markets, it is imperative that organisations focus on establishing, developing and adjusting their strategic marketing plans if they are to remain competitive. Strategic marketing is a way of focusing an organisation’s energies and resources on a course of action that can lead to increased sales and dominance of a targeted market. A strategic marketing strategy combines product development, promotion, distribution, pricing, relationship management and other elements of marketing.
It identifies an organisation’s strategic marketing goals, and explains how they will be achieved, ideally within a designated timeframe. Without a strategic marketing plan, organisations can waste resources, miss opportunities or, in a worse case scenario, threaten their own survival. Strategic marketing executives have up-to-date knowledge of competitive dynamics and know how to integrate marketing strategy into an overall business strategy. Strategic marketing management provides a comprehensive examination of all the major components of marketing strategies and their integration into organisations. It is the basis for continued success in highly competitive markets. ASSIGNMENT TASK
To be able to write this assignment and meet all the assessment criteria, you will be required to select an organisation you are very familiar with. It is important that you should have a detailed knowledge of this organisation because you will be required to answer a number of questions on the basis of your knowledge of this organisation. It could be one where you are working or have worked in the past. Or the one, which you have special interest with. The knowledge that you must have about your chosen organisation should include the following: 1. Industry to which the organisation belong. 2. Product or product lines that are offered by the company to different target markets . Marketing strategies and plans that the organisation has developed. 4. How those marketing strategies helped the organisation to achieve its strategic objectives. Based on your knowledge, you should be able to answer the following tasks: Task 1: Understand the principles of strategic marketing management a. Theoretically discuss the role of strategic marketing in an organisation and briefly explain the relationship of marketing strategy with corporate strategy. (AC: 1. 1 & 1. 3) b. Explain the process of Strategic Marketing with the help of a diagram and elaborate each stage in the diagram. Give example from your chosen organisation. (AC: 1. ) Task 2: Understand the tools used to develop a strategic marketing strategy a. There are various models available for strategic marketing planning. With reference to your chosen organisation, explain which model is being used by the company. (AC: 2. 1) b. Define and briefly discuss Strategic Positioning and explain its link with marketing tactics. (AC: 2. 1) c. Do you think that your chosen company is using Relationship Marketing? If yes, explain the benefit which the company is enjoying and if No explain what benefits can the company enjoy by using Relationship Marketing. (AC: 2. 3) Task 3: Be able to use strategic marketing techniques a.
For your chosen organisation, determine its strategic marketing objectives for selected market by identifying the marketing opportunities in the external environment. You may use STP analysis to identify (AC: 3. 1 & 3. 3) b. With reference to your chosen organisation, identify what are its core competencies and how the organisation can use these core competencies effectively in the target market. (AC: 3. 2) Task 4: Be able to respond to changes in the marketing environment a. Perform a SWOT analysis on your chosen organisation in details (AC: 4. 2) b. Analyse the impact of changes in the internal environment of an organisation and examine how Globalisation have impacted your chosen organisation in external environment. (AC: 4. 1 & 4. 3) Marking and Grading: Pass Assessment Criteria To achieve PASS grade the student must meet all the learning outcomes mentioned below: |Outcomes |Criteria | |1. |Discuss the role of strategic marketing in an organisation | |Understand the principles of strategic marketing|Explain the processes involved in strategic marketing | |management |Evaluate the links between strategic marketing and corporate strategy | |2. |2. Assess the value of models used in strategic marketing planning | |Understand the tools used to develop a strategic|2. 2 Discuss the links between strategic positioning and marketing tactics | |marketing strategy |2. 3 Analyse the merits of relationship marketing in a given strategic marketing strategy | |3. |Use appropriate marketing techniques to ascertain growth opportunities in a market | |Be able to use strategic marketing techniques |Plan how to use marketing strategy options in a market | | |3. 3 Create appropriate strategic marketing objectives for a market | |4. Report on the impact of changes in the external environment on a marketing strategy | |Be able to respond to changes in the marketing |Conduct an internal analysis to identify current strengths and weaknesses in a marketing | |environment |strategy | | |Propose strategic marketing responses to key emerging themes in a marketing strategy | Merit Assessment Criteria a. Identify and apply marketing strategies on a given situation b. Select/design and apply appropriate tools and techniques and analyse their impact on the organisation c. Producing the work in report format Distinction Assessment Criteria a. Use critical analysis evaluate own work and justify valid conclusions b. Reflect the knowledge of strategic marketing throughout the work by relating it your chosen organisation. c. Be able to demonstrate convergent/lateral creative thinking d. Producing the work in a specific business report Submission Guidelines:
Your submission should be in a report format. 3,500 (+/- 10%) words Excellent Formatting: • Preferred writing styles Arial, Verdana, and Times New Roman • Line spacing Single • Consistency in Heading Scheme, bullets and numbering • Consistency in top, bottom and left, right margins • Alphabetical Harvard referencing and bibliography Report Structure • Cover • Title Page • Contents page. • Acknowledgement (optional) • Abstract/Executive Summary • Main Body (Tasks) • Conclusion. • References (including weblioreferencing) • Bibliography (including webliography) • Appendices Important Instructions: 1. Total number of words should be 2000-2500. 2.
Your answer needs to be supported by appropriate theories and academic sources where required. 3. This assignment has to be submitted online at the assignment submission area 4. Last date of Submission is 4th February 2011. No extension will be given in last date of submission except in special circumstances. Only the Director of Studies or Course Manager can extend the date in such circumstances. 5. If you fail this assignment, you can’t re-work on the same assignment but have to work on the new assignment with the new session in which case all new dates will apply. 6. Plagiarism allowed is 0% however referenced material should be used appropriately in proportion with the length of assignment. 7.
Reference System to be used is Harvard Reference System. There is a comprehensive document on Harvard Reference system on EThames Livecampus. A number of good documents can also be found on internet. Wikipedia references are not allowed in these assignments. 8. All assignments are accepted online only and no hardcopy is accepted. A submission link will be available on Live-campus on appropriate date and time. Please note; do not wait for the last minute to submit your work on-line as you may fail to so and in such circumstances, no second chance will be given. *For Late Submission policy, please refer to your student course handbook available on Live Campus. [pic]