Demonstrate an assured practical understanding of the different marketing mix strategies, both tactically and strategically. 8. Identify, articulate and analyse the nature of change and challenges facing the innovative business, including strategies and techniques for managing change in the face of an uncertain and constantly evolving commercial environment.
Demonstrate an assured practical understanding of the different
marketing mix strategies, both tactically and strategically. 8.
Identify, articulate and analyse the nature of change and challenges
facing the innovative business, including strategies and techniques for
managing change in the face of an uncertain and constantly evolving
commercial environment. 9. Have an assured understanding of key issues
and developmental frameworks for evaluating entrepreneurial and
innovative ventures and applied practices. Key Content • Price and
pricing: ? Objectives and policies ? The marketing mix – costs ? Effects
of competition, demand factors • Distributions: ? Strategy ?
Distribution mix • Distribution channels ? Choice of channel ? Physical
distribution ? Channel costs ? Channel support Style: Part B –
Individual assignment – structured report. Parameters: Your individual
assignment for Part B should be no more than 1200 words “Marketing plays
an important role in strategic planning. It provides market information
and other inputs to help prepare the strategic plan. In turn strategic
planning defines marketing’s role in the organisation…. It is with a
strategic plan as a context that a marketing plan is developed”.
(Kotler, Burton, Deans, Brown, & Armstrong, 2013, p 58). A
successful business relies on the ability of the marketer to develop and
implement effective marketing strategies. In Part B of this assessment
you are required to explain, justify, and evaluate elements of the
marketing strategy for your own business enterprise. Your strategy
should support your business objectives, be suitable for the business
environment, and be implemented effectively in order to deliver value to
both the customers, and the business. You will also be required to
relate your analysis to the ‘AAI’ case-study, which is included within
the ‘Casestudies and Readings’ booklet. Requirements: 1. Briefly explain
the focus and location of your business, and…; a. Explain how you
intend to deliver superior value to your customers, whilst at the same
time, “Capturing ongoing value for the firm”. (Kotler, Burton, Deans,
Brown, & Armstrong, 2013, p 28) b. Compare your approach to creating
value, with AAI’s strategy for providing customer value, and capturing
value for the business 2. Contrast your intended competitive strategy,
with the strategy implemented by AAI; a. Explain your approach to the
assessment of your potential competitors b. Identify and justify your
planned competitive strategy, and your intended competitive positioning
c. Compare and explain your competitive strategy and competitive
positioning, with the competitive situation, and competitive strategy of
AAI. 3. Explain and justify your product strategy; a. Define and
classify your product / service offering b. Identify your key target
market and justify approach to segmentation c. With reference to product
attributes, explain how you will provide the product benefits required
by your target market ;Assessed Learning Objectives – 1, 2, 3, 4, 5, 6,
7, 8, 9 ReferencesJayakumar, T. (2014). AAI: clash for the Indian skies.
Ivey Business School , 1-16. Kotler, P., Burton, S., Deans, K., Brown,
L., & Armstrong, G. (2013). Marketing (Ninth edition). Frenchs
Forest NSW: Pearson Australia. O’Higgins, E. (2011). Ryanair: the low
fares airline – future destinations? In G. Johnson, R. Whittington,
& K. Scholes, Exploring Strategy (ninth edition) (pp. 618-629).
Harlow: Pearson Education Ltd. Page | 17 Assessment 2 – GBE804 Marketing
Concepts & Strategies; Marking Schedule Student
Name:_____________________________________________ Ref Subject Marks
Part A Marketing Concepts 1 Short answer Part B 1 Definition of focus,
location, value of project business; • Purpose of business, and business
location, are explained • Approach to delivery of customer value is
defined, justified • Analysis of strategy for capturing value for the
firm is provided • Relevant analyses, and contrasts between project and
case business, are outlined; value creation explained; compared (300
words) /6 marks 2 Business competitive strategies and positioning; •
Approach to the assessment of potential business competitors is briefly
explained • Intended competitive strategy, and planned competitive
positioning, are defined and critically appraised • Respective business
competitive strategies, and approaches to competitive positioning, are
identified, compared, and evaluated • Evaluation demonstrates
understanding of applicable concepts; and use of appropriate analytical
tools (400 words) /6 marks 3 Product strategy and target market; •
Business product/service offering is defined, classified; explained •
Target market is identified and the intended approach to segmentation is
clearly explained • Strategy to deliver required product benefits
(attributes – quality, features, design), is critically examined •
Evaluation demonstrates understanding of applicable concepts; and use of
appropriate analytical tools (500 words) /10marks 4 Delivery; •
Spelling, Grammar, Presentation, Readability, and….; • APA referencing
/3marks 5 Adjustments (e.g. late submission; exceeding word-limit)
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