{"id":9628,"date":"2023-08-05T22:38:50","date_gmt":"2023-08-05T12:38:50","guid":{"rendered":"https:\/\/casestudyhelp.com\/sample-questions\/?p=9628"},"modified":"2023-08-05T23:01:14","modified_gmt":"2023-08-05T13:01:14","slug":"marketing-mix-answers-to-homework-questions","status":"publish","type":"post","link":"https:\/\/casestudyhelp.com\/sample-questions\/marketing-mix-answers-to-homework-questions\/","title":{"rendered":"Marketing Mix Answers to Homework Questions"},"content":{"rendered":"

\u00a0Marketing Mix Assignment Answers<\/strong><\/h2>\n

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Context<\/strong><\/h3>\n

You are working as a freelance business consultant.\u00a0 Shakti is the Managing Director of a medium-sized company called Hard Graft Tools, which produces power tools.\u00a0 Hard Graft Tools currently sells its products to retailers.\u00a0 In a change of strategy, Hard Graft Tools is now planning to withdraw from the retailers and sell the tools direct to consumers via new shops as well as online.\u00a0 Shakti would like you to help the Senior Management Team (SMT) to understand how to start marketing the tools directly to customers.\u00a0 Shakti invites you to visit the Hard Graft Tools head office to see the products and to have an initial discussion with the SMT.<\/p>\n

Task 1<\/strong><\/h3>\n

Shakti asks you to write a detailed paper for the SMT to read before you meet for your initial discussion.\u00a0 Write a paper for the SMT about the role of the product or service and the role of place in the marketing mix.\u00a0 The paper must be at a suitable level and in a suitable format for senior managers.<\/p>\n

You must make sure you include the following topics:<\/p>\n

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  • An analysis of how the features and benefits of a product or service can be used in the marketing mix. (AC 1.1)<\/li>\n
  • A description of the use of the marketing mix at each stage of the Product Life Cycle (AC1.2)<\/li>\n
  • An analysis of the role of direct and indirect distribution channels to move products and services from the provider to the buyer. (AC 3.1)<\/li>\n
  • An analysis of the use of intensive distribution, selective distribution and exclusive distribution in the market coverage of products and services. (AC 3.2)<\/li>\n<\/ul>\n

    Merit task<\/strong><\/h3>\n

    To achieve a Merit, you must additionally include in the paper<\/strong>:<\/p>\n

    An analysis of how a business can create lifetime value to the customer by using the<\/p>\n

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    • Customer Life Cycle. (AC 1M1)<\/li>\n
    • An explanation of the advantages of using a direct marketing channel. (AC 3M1)<\/li>\n<\/ul>\n

      Distinction task<\/strong><\/h3>\n

      You decide that it could be helpful for the SMT to see how another organisation has used product or service and place in its marketing mix. To achieve a Distinction, choose an organisation<\/strong> which you have researched or have experience of, and additionally include in the paper:<\/p>\n

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      • An evaluation of the role of product in that organisation\u2019s marketing mix. (AC 1D1)<\/li>\n
      • An evaluation of the role of place in that organisation\u2019s marketing mix. (AC 3D1)<\/li>\n<\/ul>\n

        \u00a0<\/strong>This provides evidence for LO1 and LO3: ACs 1.1, 1.2, 3.1, 3.2, 1M1, 3M1, 1D1, 3D1.<\/strong><\/p>\n

        Task 2<\/strong><\/h3>\n

        The meeting went well and Shakti said the SMT found your paper informative. \u00a0They would now like to find out more about the role of price and promotion in the marketing mix.\u00a0 Shakti has asked you to prepare a presentation<\/strong> for the SMT on the topic of pricing strategy. Prepare a presentation with an accompanying handout.<\/strong><\/p>\n

        You must include:<\/p>\n

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        • An analysis of the use of pricing to reflect the perceived value of the benefits of a product to the buyer. (AC 2.1)<\/li>\n
        • An analysis of the use of pricing to offset the costs of product manufacturing \u00a0\u00a0and \/or service delivery. (AC 2.2)<\/li>\n<\/ul>\n

          Merit task<\/strong><\/h3>\n

          To achieve a Merit, you should analyse the effects of adjusting the price of a product or service. Shakti has asked that you include diagrammatic information in your analysis<\/strong>. (AC 2M1)<\/p>\n

          Distinction task<\/strong><\/h3>\n

          To achieve a Distinction, you must choose an organisation<\/strong> which you have researched or have experience of, and additionally include in the presentation and handout<\/strong>:<\/p>\n

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          • An evaluation of the role of price in that organisation\u2019s marketing mix. (AC 2D1)<\/li>\n<\/ul>\n

            This provides evidence for LO2 and LO4: ACs 2.1, 2.2, 2M1, 2D1, 4.1, 4.2, 4M1, 4D1.<\/strong><\/h3>\n

            Task 3<\/strong><\/h3>\n

            The SMT interacted well with your presentation and the associated discussion and now want you to help them understand the role of people in the marketing mix.\u00a0 Shakti asks you to produce a factsheet<\/strong> about the role of people in the marketing mix for the SMT. Your factsheet must include:<\/p>\n

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            • An analysis of the importance of recruiting the right people to become customer-facing staff in businesses. (AC 6.1)<\/li>\n
            • An analysis of the importance to businesses of training customer-facing and non-customer-facing staff. (AC 6.2)<\/li>\n<\/ul>\n

              Merit task<\/strong><\/h3>\n

              To achieve a Merit, you must include in the factsheet<\/strong> an evaluation of the use of Customer Relationship Management in businesses. (AC 6M1)<\/p>\n

              Distinction task<\/strong><\/h3>\n

              To achieve a Distinction, you must choose an organisation<\/strong> which you have researched or have experience of and include in the factsheet an evaluation of the role of people in that<\/p>\n

              organisation\u2019s marketing mix. (AC 6D1)<\/p>\n

              This provides evidence for LO6: ACs 6.1, 6.2, 6M1, 6D1.<\/strong><\/h3>\n

              Task 4<\/strong><\/h3>\n

              The SMT found your factsheet useful. Shakti asks you if there is anything else the SMT needs to understand regarding the marketing mix.\u00a0 After a discussion with you, Shakti agrees with your suggestion that it would be useful for them to understand the role of process and the role of physical evidence in the marketing mix.\u00a0 She asks you to prepare a briefing paper<\/strong> for the SMT about the role of process and the role of physical evidence in the marketing mix. \u00a0You must produce a briefing paper which includes:<\/p>\n

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              • An explanation of the role of marketing processes which take place with the customer present. (AC 5.1)<\/li>\n<\/ul>\n
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                • An explanation of the role of marketing processes which take place before, during and after the customer interface. (AC 5.2)<\/li>\n<\/ul>\n
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                  • An analysis of how the role of process in the marketing mix leads to customer focus. (AC 5.3)<\/li>\n<\/ul>\n
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                    • An analysis of the role of physical evidence in the marketing mix. (AC 7.1).<\/li>\n<\/ul>\n

                      Distinction task<\/strong><\/h3>\n

                      To achieve a Distinction, you must choose an organisation<\/strong> which you have researched or have experience of, and include in the briefing paper:<\/p>\n

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                      • An evaluation of the role of process in that organisation\u2019s marketing mix. (AC 5D1)<\/li>\n
                      • An evaluation of the role of physical evidence in that organisation\u2019s marketing mix. (AC 7D1)<\/li>\n<\/ul>\n

                        This provides evidence for LO5 and LO7: ACs 5.1, 5.2, 5.3, 7.1<\/strong>
                        \n, 5D1, 7D1.<\/strong><\/h3>\n