Strategic marketing management level 7 assignment

{`RDI / EDEXCEL Programme 
BTEC HND DSML 
Extended Diploma in Strategic Management and Leadership    
Unit Title:      Strategic Marketing Management 
Level:           7
`}

Introduction

• To cover all the learning outcomes you must attempt all the tasks. Failure to attempt all the tasks will result in a referral. To ensure good academic practice at postgraduate level you must reference all your citations, in the text, in the Harvard format (see the programme’s student handbook for more information). All references, in the text, must be listed on a reference page at the end of the assignment, but before any appendices.

• Format your assignment by answering each task in turn, labelling each task, and subtask, with the appropriate number and letter. Please remember to put your name and student number on the assignment.

Learning Outcomes

After completing the module you should be able to:

• Understand the principles of strategic marketing management
• Understand the tools used to develop a strategic marketing strategy
• Be able to use strategic marketing techniques
• Be able to respond to changes in the marketing environment

Purpose of this assignment

Learners will need to apply techniques of strategic marketing management to a market situation

Scenario

Select a company you are familiar with and use strategic marketing techniques and create appropriate marketing objectives for a defined market

Assignment Task

Task 1

The terms corporate strategy and strategic marketing are closely linked. With examples as appropriate from an organisation with which you are familiar, explain what both of them mean and discuss the role that strategic marketing can play within that organisation’s corporate strategy.

Again with reference to the organisation with which you are familiar, identify and explain processes and models that can play a role in strategic marketing and assess the contribution that each can make. (Assessment criteria 1.1, 1.2, 1.3, 2.1)

Assignment Task

Task 2

A number of models exist to show a range of different positions’ that can be adopted by an organisation in its strategic marketing or its corporate strategy. Identify and describe one such model. You should then select a particular approach to positioning from that model, which you feel applies to your chosen organisation (please give brief reasons for your choice).

Discuss how the organisation concerned might use different marketing tactics to establish and reinforce that position you have identified. Analyse how that organisation might use relationship marketing within the context of establishing and reinforcing that position. (Assessment criteria 2.2, 2.3)

Assignment Task

Task 3

With reference to your chosen organisation, identify and track over time a number of key factors in the organisation’s external environment; describe their behaviour over recent years.

Assess the possible growth opportunities that the trends in these factors suggest may exist for the organisation and report on how far the trends impact on or support the positioning you selected in task two.

Create a small number of strategic marketing objectives that would assist the organisation to take advantage of one

or more of the growth opportunities you identified. (Assessment criteria 3.1, 3.3, 4.1)

Assignment Task

Task 4

You should select one of the strategic marketing objectives, which you presented in task 3 and identify a number of different paths or options by which the organisation might plan to achieve it.

You should then conduct an internal analysis of the organisation to identify its main current strengths and weaknesses. On the basis of that analysis, evaluate the different options you identified of achieving your chosen objective and propose, with brief reasons, which option should be implemented by the organisation.

Based upon your environmental analysis in task three, discuss the risks that the implementation of your proposed option and hence the achievement of the strategic marketing objective faces and how the organisation might respond to those risks.

(Assessment criteria 3.2, 4.2, 4.3)

Remarks:

If you would like feedback on either a draft answer to Task 1 or A PLAN of how you will on or before 2nd June, 2015 (Tuesday) by email.

It is advisable to join the Discussion Forum or Live Chat at iLearn about the tasks of the assignment.

Student Guidelines

1. You should write this assignment in essay format with a separate essay being submitted for each task

2. You must ensure that the submitted assignment is all your own work and that all sources used are correctly attributed. Penalties apply to assignments which show evidence of academic unfair practice. (See the Student Handbook which is in the Induction Area). Please also refer to the ‘Guide to Unfair Practice in Assessment’ on the module page on ilearn.
3. You MUST underpin your analysis and evaluation of the key issues with appropriate and wide ranging academic research and ensure this is referenced using the Harvard system. The ‘My Study Skills’ area contains the following useful resources; Study Skills Guide (containing a Harvard Referencing section) and a Harvard Referencing Interactive Tutorial. You must use the Harvard Referencing method in your assignment.
4. You should use diagrams and tables of figures where appropriate ensuring to reference their source using the Harvard Referencing method.
5. It is advised that you write your essay within approximately 3,500 words in order for your research and summarising skills to be developed, and for effective time management. You are required to ensure that the assignment addresses all of the assessment tasks .There is no penalty for being over the suggested word count, however, in the interests of good academic practice, assignments submitted with excessive word counts (e.g. over 4,000 words) may be returned to students and asked to be reduced before marking. The word count excludes the title page, reference list and appendices. Where assessment questions have been reprinted from the assessment brief these will also be excluded from the word count. ALL other printed words ARE included in the word count. Printed words include those contained within charts and tables.
6. Your assignment should be submitted as a single document.

For more information please see the “Guide to Submitting an Assignment” document available on the module page on iLearn.

Recommended Additional Resources

Textbooks

• Best, R. J. ( 2009) Market Based Management: Strategies for Growing Customer Value and Profitability, 5th Edition Prentice Hall
• Armstrong, G. and Kotler, P. (2013) Marketing; An introduction, Pearson
• Kotler, P. and Armstrong, G. (2013) Principles of Marketing, Pearson
• Ensor, J. & Ashford, R. (2008), Strategic Marketing: Planning and Control. 3rd edition, Butterworth-Heinemann.
• Hooley, G., Piercy, N. & Nicoulaud, B. (2008), Marketing Strategy and Competitive Positioning . 4th edition, Pearson Education Limited.

Online ‘library’ resource available via iLearn EBSCO Business Source Complete –

• Baker, M.J. and Hart, S. ( eds.) (2008) The Marketing Book, 6th ed. Butterworth-Heinemann

Magazines, journals and newspapers –

• Business Review Magazine (Phillip Allan Publishers)
• Campaign (Haymarket Business Subscriptions)
• European Journal of Marketing (Emerald)
• International Journal of Research in Marketing (Elsevier)
• Journal of Interactive Marketing (Elsevier)
• Journal of Marketing Communications (Routledge)
• Journal of Strategic Marketing (Routledge)
• The Marketing Review (Westburn Publishers Ltd)
• Marketing (Haymarket Business Subscriptions)
• Marketing Week (Centaur Communications Ltd)
• The Financial Times and other daily newspapers which contain a business section and market reports
• The Economist (The Economist Newspaper Group Inc)

Websites

• adassoc.org.uk (The Advertising Association)
• asa.org.uk (The Advertising Standards Authority)
• bized.ac.uk (Business education website including learning materials and quizzes)
• businessballs.com (Management learning resources and articles and links on strategic marketing management)
• cim.co.uk (The Chartered Institute of Marketing)
• ft.com (The Financial Times business sections)
• idea.gov.uk (Local Government Improvement and Development – developing a strategic communication strategy in the public sector which applies equally to the private sector)
• marketing.haynet.com (Marketing magazine)
• marketingpower.com (American Marketing Association – marketing articles)
• marketingteacher.com (Free marketing resources for learners, teachers and professionals)
• ama,org American Marketing Association – marketing articles

Tasks

Task 1 - Planning principles and range of tools and techniques:

1.1 discuss the role of strategic marketing in an organisation (Assessment Criteria 1.1)

• The key definition of strategic marketing
• The role and importance of strategic marketing
• The key strategic marketing concepts and activities in the organisation

Tasks

Task 1 - Planning principles and range of tools and techniques:

1.2 explain the processes involved in strategic marketing (Assessment Criteria 1.2)

• The strategic marketing planning processes
• Approaches to strategic planning

Tasks

Task 1 - Planning principles and range of tools and techniques:

1.3 evaluate the links between strategic marketing and corporate strategy (Assessment Criteria 1.3)

• Nature of strategy and marketing
• Links to corporate strategy, mission statements, organizational structure, corporate responsibility and ethics

Tasks

Task 2: Understand the tools used to develop a strategic marketing strategy

2.1 assess the value of models used in strategic marketing planning (Assessment Criteria 2.1)

• Models used to develop the strategic marketing strategy, such as Porter’s 5 forces, SWOT, STEEPLE, BCG matrix and Ansoff matrix

Tasks

Task 2: Understand the tools used to develop a strategic marketing strategy

2.2 discuss the links between strategic positioning and marketing tactics (Assessment Criteria 2.2)

• The nature of strategic marketing position and tactics
• When strategic plans are put into operation
• How tactics are related to the strategic positioning

Tasks

Task 2: Understand the tools used to develop a strategic marketing strategy

2.3 analyse the merits of relationship marketing in a given strategic marketing strategy (Assessment Criteria 2.3)

• The nature of relationship marketing
• Place of relationship marketing in a strategic marketing plan
• Merits of using this technique

Tasks

Task 3: Be able to use strategic marketing techniques

3.1 use appropriate marketing techniques to ascertain growth opportunities in a market

(Assessment criteria 3.1)

• Setting marketing objectives and strategy ,
• Segmenting the market
• Targeting
• Positioning

Tasks

Task 3: Be able to use strategic marketing techniques

3.2 plan how to use marketing strategy options in a market

(Assessment criteria 3.2)

• Porter’s generic strategies
• Core competencies
• and competitive advantage
• General Electric Model or Shell directional matrix
• Market positioning

Tasks

Task 3: Be able to use strategic marketing techniques

3.3 create appropriate strategic marketing objectives for a market (Assessment criteria 3.3)

• Marketing mix – 7 Ps

(Product, Price, Place, Promotion, People, Process,

Physical evidence)

Tasks

Task 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 (Assessment criteria 4.1)

• Customer demand
• Globalization
• Technology
• Organizational accountability
• Importance of customer service
• Erosion of brands

Tasks

Task 4: Be able to respond to changes in the marketing environment

4.2 conduct an internal analysis to identify current strengths and weaknesses in a marketing strategy

(Assessment criteria 4.2)

• The organization’s resources, capabilities
• The way in which the organization configures and co-ordinates its key value-adding activities
• The structure of the organization and the characteristics of its culture
• The performance of the organization as measured by the strength of its products

Tasks

Task 4: Be able to respond to changes in the marketing environment

4.3 propose strategic marketing responses to key emerging themes in a marketing strategy

(Assessment criteria 4.3)

• Reducing cost base
• Improving quality
• Getting closer to the customer
• Shorter cycle time
• Strategic Partnerships
• Ability to change fast

Performance Criteria

To achieve a PASS, you will need to:

• Complete all the tasks/outcomes specified and all their assessment criteria.
• Present and communicate material appropriately.
• Demonstrate an understanding and application of theories and concepts presented in this unit.
• Provide practical examples from your own working experience, where appropriate.
• Meet the deadline set.

HARVARD REFERENCING SYSTEM

REFERRING TO ITEMS CITIED IN THE BIBLIOGRAPHY

Give the author’s name the date of the publication and (if possible) page or chapter number e.g.:

“in a recent study, Smith (1998, Ch. 3) showed ..“ or

“A recent study. (Smith 1998, p. 17) showed that ..“ or

“In a recent study (Smith and Jones 1998) it was shown

LISTING ITEMS IN THE BIBLIOGRAPHY

arrange references alphabetically by author and then by date of publication for the several references from the same author

LISTING ITEMS IN THE BIBLIOGRAPHY (HARVARD) Books should be listed as follows:

AUTHOR’S NAME(S), INITIALS, (Publication Date) Title of the Book. Publisher i.e. PORTER. M.E. (1990) The Competitive Advantage of Nations. Macmillan Journal articles should be listed as follows:

AUTHOR’S NAME(S), INITIALS (Publication Date), Article Title, Journal Title,

Volume No, Date, Pages

i.e.. BAYLIN F (1980) Logical Systems Structure. Journal of Systems Management, Vol 31, No. 8, Aug. pp. 37—46

Web references should be listed as follows:

AUTHOR’S NAME(S). INITIALS (Date). Title of the Article. Journal Title. Web Reference or URL

PETER, W.R.( I August 1995) International finance questions. Business Libraries Discussion List. buslib-l@idbsu.btinternet;OR

World Wide Web robots, wanderers and spiders. URL: http://www.nexor.co.uk/mak/doc/rohots.html

Reminders

1. Make sure that you fully understand the assignment’s scenario and its related tasks and activities. Check what you have written against the corresponding assignment scenario task to make sure that you have satisfied the task. Should you not understand the scenario or what you need to do, please contact your tutor for help or clarification.

2. The tasks are listed on the left. Each task is further divided into one or more assessment criteria. These are numbered and listed on the right of the outcomes. The key to passing is to make sure that all assessment criteria are covered - this means that there must be some clearly identified discussion related to each and every assessment criteria, while at the same time keeping to the framework in the given scenario.

Reminders

3. Look to the verbs used in the criteria as they usually indicate what you have to do. You must then follow the actions or instructions asked by the verbs completely. Make sure that you fully understand the assessment criteria and that they are your main concern to pass the assignment. Should there be any inconsistency between any assessment criteria and any instruction given in the scenario, the assessment criteria will take precedence. Once you have written your answer check it again against the assessment criteria to make sure that you have in fact covered the criteria.