Semester: 113 – Fall 2011. Qualification/Award: Extended Diploma in Strategic Management and Leadership
Unit: Unit 7 Strategic Marketing Management Unit Code: Y/602/2065 Instructor Name: Prof. Shamaila Asim
Assignment Title: Assignment
Assignment is Part or Full Assessment of Unit? Full Assessment
Student Full Name:
Centre:
Westford Student ID:
Edexcel Student ID:
Date Assignment Issued:
Date Assignment Due:
November 4, 2011.
Task 1 due – Midnight November 30, 2011. Task 2 due – Midnight December 15 2011.
Internally Verified by: Prof. Angelo Date Actually Submitted: D’Souza
Learning Outcomes and Criteria for Evaluation: In order to pass this unit, the evidence that the learner presents for assessment needs to demonstrate that they can meet all the learning outcomes of the Unit. The Assessment Criteria determine the standard required to achieve the Unit. Question/Task Learning Outcomes Assessment Criteria to Test Outcomes Testing the Criteria 1.1 discuss the role of strategic marketing in an organization 1 Understand the 1.2 explain the processes involved in Task 1 principles of strategic strategic marketing marketing management 1.3 evaluate the links between strategic marketing and corporate strategy
2 Understand the tools used to develop a strategic marketing strategy
2.1 assess the value of models used in strategic marketing planning 2.2 discuss the links between strategic positioning and marketing tactics
Task 1
2.3 analyze the merits of relationship marketing in a given strategic marketing strategy
3 Be able to use strategic marketing techniques
3.1 use appropriate marketing techniques to ascertain growth opportunities in a market 3.2 plan how to use marketing strategy options in a market
Task 2
3.3 create appropriate strategic marketing objectives for a market
4 Be able to respond to changes in the marketing environment
4.1 report on the impact of changes in the external environment on a marketing strategy 4.2 conduct an internal analysis to identify current strengths and weaknesses in a marketing strategy
Task 2
4.3 propose strategic marketing responses to key emerging themes in a marketing strategy
Assignment Brief As companies strive to ensure future growth and profitability, they are turning to their marketing organizations to accelerate and guide their paths. Marketing is expected to provide a competitive advantage in shaping not just brand and corporate positioning but also in driving corporate strategy and setting the agenda for innovation and growth. There is no unique strategy that ensures success for all organizations in all situations. In thinking strategically about marketing many factors must be considered: the extent of product diversity and geographic coverage in the organization; the number of market segments served, marketing channels used, the role of branding, the level of marketing effort, and the role of quality. It is also necessary to consider the organization’s approach to new product development, planning in particular, its position as a technology leader or follower, the extent of innovation, the organization’s cost position and pricing policy, and its relationship to customers, competitors, suppliers and partners.
TASK 1 – Developing and Managing a Strategic Marketing Plan
Consider that you work as a marketing manager and you have been asked to write a Report, to be presented to the board of directors, on how a strategic marketing plan should be developed and managed. Develop studying aspects as "inputs" to a good Strategic Marketing Plan to market either a new product or rebrand an old product/company. The Inputs to Developing and Managing the Strategic Marketing Plan should encompass all the learning criteria that are underlined: 1.1 Discuss the role of strategic marketing in an organization For AC1.1, you need to show that you understand the difference between strategic and tactical marketing. Use established models and definitions to develop discussion. 1.2 Explain the processes involved in strategic marketing For AC1.2, consider looking at a range of processes such as strategic marketing analysis, marketing strategy objective setting, perceptual mapping, and you may draw on your own experiences in the workplace to amplify your points. 1.3 Evaluate the links between strategic marketing and corporate strategy For AC1.3, you are expected to understand that the process of strategic marketing does not take place in a vacuum. Show that you can evaluate the links between strategic marketing and corporate strategy such as links to mission statement, organizational structure, corporate responsibility and ethics etc. and provide examples of those links. AC 1.1, 1.2 & 1.3
2.1 Assess the value of models used in strategic marketing planning. For AC2.1, you need to research the models used in strategic planning such as organization, industry and market environment situation analysis. You will need to make judgements; and assess the value of the models for strategic marketing planning. 2.2 Discuss the links between strategic positioning and marketing tactics. For AC2.2, understand that when strategic plans are put into operation, day-today tactical decisions have to be made. For example, some marketing tactics being: product tactics eg. selection, range, quality, branding; price tactics eg. skim pricing, penetration pricing, , price discrimination; promotion tactics eg. Customer loyalty schemes, product sampling, extended credit;
place tactics eg. distribution channels, transport management, terms of delivery etc. In your discussion, you need to provide examples of how tactics are related to strategic positioning decisions. 2.3 Analyze the merits of relationship marketing in a given strategic marketing strategy. For AC2.3, you need to discuss the place of relationship marketing in a strategic marketing plan and then analyze the merits of using this marketing technique. AC 2.1, 2.2 & 2.3 Your plan must be SMART, hence it should be:
Clear - Unambiguous statement of 'exactly' what is to be done. Quantified - The predicted outcome of each activity should be, as far as possible, quantified, so that its performance can be monitored. Focused - The temptation to proliferate activities beyond the numbers which can be realistically controlled should be avoided. The 80:20 Rule applies in this context too.
TASK 2 – Applying Strategic Marketing Management Techniques to Market Situations For Task 2, take your Strategic Marketing Plan further and use required marketing techniques to ascertain opportunities for further growth. Be sure to create appropriate strategic marketing objectives by covering the underlined topics: 3.1 Using appropriate marketing techniques to ascertain growth opportunities in a market. 1.
For AC3.1, you need to use the selected organization to research and ascertain growth opportunities in a specific market. Evidence needs to be more than anecdotal and include real-time data to support the research, for example statistical data, current economic data, data from the organization and data on markets.( www.brandingstrategyinsider.com/.../tropicanas-costly-lesson-in-listening-.html - Cached - Similar) 2. www.wiley.com/college/kieso/0471363049/dt/.../letter_page7.html - Cached - Similar
3.
3.2 Plan how to use marketing strategy options in a market. For AC3.2, you need to show that you understand the importance of marketing strategy options such as Porter’s generic strategies (focus, cost leadership and differentiation), or competitive advantage or market nicher or market innovator etc. You need to plan appropriate options and apply them to the organizational context you are using. 3.3 Create appropriate strategic marketing objectives for a market For AC3.3, you need to pull all the strands of your learning together successfully to create appropriate strategic marketing objectives for your selected market. The objectives should follow logically from the research undertaken on the organization and the selected market. AC 3.1, 3.2 &3.3
Now evaluate the strategic marketing techniques, research and analysis used by your organization to market situation and make original recommendations for improvement to meet the changes in the marketing environment. This part of the task should exhibit your learning as how you would fulfill the following criteria: 4.1 Report on the impact of changes in the external environment on a marketing strategy. For AC4.1, you need to research the current external environment and you might find trends such as rising expectations; technological change; competition; globalization; importance of customer service; erosion of brands etc. You need to report on the extent to which identified changes will impact on the marketing strategy for your selected organization. 4.2 Conduct an internal analysis to identify current strengths and weaknesses in a marketing strategy. For AC4.2, you need to look closely at your selected organization. You need to conduct an internal analysis to identify current strengths and weaknesses in your marketing strategy as applied to your selected organization. Few amongst many areas you can consider are: focus of marketing objectives, links to corporate strategy, speed of new product developments, ability to customize, ability to handle information to gain competitive advantage; e-marketing position, core focus, target markets, nature and potential of key market segments, partnerships with customers and other stakeholders,
organizational structure, innovation strategies, time scales, resource requirements, budgets, monitoring, review and control mechanisms. 4.3 Propose strategic marketing responses to key emerging themes in a marketing strategy. For AC4.3, you need to identify key emerging themes affecting your selected organization. These could be local, national or global. You will need to apply your understanding and propose strategic marketing responses to these emerging themes.
AC 4.1, 4.2& 4.3 Compare the technique used in supporting the marketing decisions and plans you have made in Task 1. Present Task 2 with the help of PPT (not more than 15 slides). (Attach notes for each slide).
ACKNOWLEDGEMENT It is great pleasure for me to express my hearty and sincere gratitude to my faculty guide, Mr. Vasanth Kumar(faculty of ……………………. under whose genuine and inspiring guidance the present piece of investigation could get its present shape within such a limited range of time. I am highly thankful to Mr. BP Chauhan (territory development manager), Mr. Pavan gaur (marketing executive), Mr. Vishal khosla (customer executive) who guide me in the survey the area and to management of PepsiCo for permitting me to carry out the present research work. Special thanks are also due to all the employees, customers, retailers and distributors related to PepsiCo company for their precious co-operation provided to the investigator during the period of data collection. Place: Dehradun Mohd Ashad LOVELY PROFESSIOAL UNIVERSITY Page 5lo
