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Unit 5.6 Marketing Principles and Practice
Level 5 15 Credits
You are writing assistant marketing manager for local business “Fragrance Forever” specialized in the production of perfumes. The company has already established a good client base and is growing at steady pace. However, the senior management (SMT) of the company is interested in expanding the business to new markets. Hence you have an educational background in business administration, and you are formally trained in marketing, your manager has assigned you a project to produce series of documentation on different marketing dimensions of the company. It would help the SMT to take strategic decisions about the growth of the company.
You should be professionally and knowledgeably competent to complete the project above on following grounds:
- understand the role of marketing in business
- understand the principles of marketing
- understand the application of the marketing mix in a specific industry
- Be able to develop a marketing plan for a particular product or service.
You can choose the similar real-life organization to complete the following task. Please be assured that you have selected an organization that is 1. Local and 2. Medium sized.
Task 1 – An Article
You have required an article for SMT, which provides a general overview of the role of marketing in business. Your essay must be well written and should include:
- A definition and explanation of marketing
- An example of the contribution of marketing to the achievement of business purposes
- An analysis of the apparent circumstances influencing marketing
- A description of the role of marketing in a not for profit business
- An example of the components of the marketing process.
You must extend your article further to following requirements:
- explain the different elements of the marketing mix
- describe the methods of segmenting markets
- evaluate the benefits of segmenting markets
- analyze the different ways of researching a market
- Explain how current technology impacts on marketing activity.
Assessment Criteria 1.1/1.2/1.3/1.4/1.5/2.1/2.2/2.3/2.4/2.5
Task 2 – A Report
Your article has been forwarded to the senior management team (SMT). SMT is happy and satisfied with your work. Marketing mix plays a vital role in overall marketing activity. Your management wants you to write a formal report that analyzing the marketing mix of the business in details. A story must be written in a formal style and should include:
- A review of the market segments for the industry an analysis of how the company positions its products and services
- An explanation of how its products are distributed
- A study of the use of pricing strategies
- A summary of the promotional approach used by the business.
Task 3 – Presentation
Your report was comprehensive and well received. The SMT has decided to pay more attention to the planning aspects of the business. Your manager has asked for come-up with a PowerPoint presentation that should be well structured with proper speaker notes and be inclusive of the following content:
- The strategic aims and objectives of the plan
- The target market(s) for marketing activity, with a justification of your choices
- An examination of the macro and micro environmental factors affecting the marketing plan.
The presentation should further extend to:
- propose a marketing mix for the product/ service that you are offering
- An Explain how factors relevant to the implementation of the plan have been considered.
Assessment Criteria 4.1/4.2/4.3/4.4/4.5