need help with a marketing question (1 Viewer)

[red802]

This is the question im given,

With reference to a business you have studied, analyse the elements of its marketing plan and how it manages the marketing of its product

I know the first part, but the "how it manages the marketing of its product", what part of the syllabus would that section be in. If u can help, can u tell us what syllabus point it could be

 

[The_Apprentice]

This is the question im given,

With reference to a business you have studied, analyse the elements of its marketing plan and how it manages the marketing of its product

I know the first part, but the "how it manages the marketing of its product", what part of the syllabus would that section be in. If u can help, can u tell us what syllabus point it could be

The first part of the question obviously expects you to make reference to this part of the syllabus;

elements of a marketing plan
• situational analysis including SWOT and product life cycle
• establishing market objectives
• identifying target market
• developing marketing strategies
• implementation, monitoring and controlling — developing a financial forecast, comparing actual and planned results, and revising the marketing strategy


"how it manages the marketing of its product"

In my opinion, this is asking you about strategy and indirectly about the 4ps. Its risky to completely ignore the 4ps in an essay solely on marketing. In evaluating the business's management and strategy in marketing I would make sure you mention the below points in the syllabus (where applicable) and directly compare your business case study with it's competitors. Maybe make suggestions about areas where they could improve and highlight their major strengths with statistics (e.g. increasing market share) or other evidence.

developing marketing strategies
• market segmentation and product/service differentiation
• product and service
– positioning
– branding
– packaging
• price including pricing methods — cost, market and competition-based
– pricing strategies/tactics — skimming, penetration, loss leaders, price points
– price and quality interaction
• promotion
– elements of the promotion mix — personal selling, advertising, below-the-line promotions, public relations
– the communication process including opinion leaders and word of mouth
• place/distribution
– distribution channels and reasons for intermediaries
– channel choice including intensive, selective, exclusive
– physical distribution issues including transport, warehousing, inventory
• environmental effects on distribution — technology, local government

If the question you have been set is going directly by the syllabus, I'm guessing they're trying to test these learning objectives;

Students learn to:

use existing business case studies to investigate and communicate ideas and issues related to marketing. The focus of these case studies will be to:
• analyse and evaluate marketing strategies for a product or service
• analyse the marketing plan of a business


So keep that in mind and try not to stray far from the syllabus guidelines. Hope that helped .