Marketing Mix( Prefer Fitness First) Essay Test
The particular candidate must demonstrate the ability, knowledge and skills to gauge each component of the particular marketing mix and figure out the right marketing mix for specific markets, as properly as monitor and adjust the marketing mix.
The candidate is usually to write and present a report on the particular marketing blend their own workplace or a place of work that they are common with. The full record should address the assessment of all components within the marketing mix and marketing performance. The report is to be offered to the class. The report and the display should consider the important thing features of the product, the particular promotion methods and each and every component of the modified marketing mix. The report needs to evaluate the contribution made towards the particular organisation’s marketing objectives, methods and desired positioning.
1. Research the marketing and advertising of your organisation’s products and services. 2. Recognize the main element characteristics of the products and/or services and the significance to the industry. 3. Review pricing policy and analyse pricing factors to ascertain their effect upon demand. Add a copy associated with your organisations’ policy plus submit it as facts along with your statement. 4. Analyse the importance to market outcomes of:
a. promotional methods
b. customer base
c. channels associated with distribution
d. the degree of customer service provided.
5. Establish typically the marketing mix components. Consist of information about how each element associated with the marketing mix provides been used. Analyse and test their significance to be able to each other and meaning to customer base. 6th. Identify environmental factors in addition to assess their potential impact on the marketing combine. 7. Identify customer/consumer focal points, needs and preferences and the way they influence the marketing mix. 7. Consider product, pricing, marketing activities, distribution channels in addition to service variations. If additional products or services or even new products will be presented, evaluate these against marketing and advertising objectives, target market features and desired positioning.
9. Analyse the marketing mix in relationship to your organisation’s tactical and operational marketing objectives. Select the best suited mix and explain your final decision. 12. Monitor the performance regarding the organisation’s products plus or services in purchase determine which components need to be tested. 11. Evaluate the implications of altering one or more components of the marketing mix in response to marketplace factors and consumer reply. 12. Adjust components of the marketing mix inside response to test results, ensuring that the final mix meets: a. budget requirements
b. organisational strategic objectives
c. operational marketing goals
d. desired marketplace positioning.
Discuss whether or not or not any additional adjustments were needed within order to meet these types of requirements.
13. Compose a report to address these points.
16. Present the report to be able to the class.
You must offer:
· a created report (eight to five pages)
· all relevant workplace documentation to back up your research, including: o an organization mission statement, setting out business objectives o a market research report, identifying the target marketplace
o a marketing program and/or strategy including spending budget
o an advertising marketing campaign including marketing mix parts and monitoring processes o pricing policy.
· a presentation of 10-15 minutes.
Your assessor will be looking for a report and a display that:
· address each point in the process described above
· establishes the marketing combine for a specific industry
· evaluates every component of the marketing and advertising combine
· shows the monitoring and modifying in the marketing mix · demonstrates culturally appropriate connection skills to relate in order to people from diverse skills and people with varied abilities · contains the literacy skills needed to evaluate market information, write in a range of styles for different audiences and interpret requirements · contains the numeracy skills in order to interpret test results and to manage marketing budgets · demonstrates organisational and time management skills to be able to design and adjust the marketing mix. Candidates need to demonstrate their knowledge regarding:
· important provisions of relevant laws, codes of practice and national standards that influence business operations · efficiency policies, procedures, products in addition to services · principles plus concepts of marketing such as buyer behaviour in addition to the analysis of elements of the marketingmix · statistical techniques.
You must submit the two soft copy and imprinted copy of your responses.
To upload your answers:
*Create a cover page clearly showing your name, student identity, assessment no, unit brand and your course title *Provide header and footer on your document indicating your current name, student id in addition to page number accordingly. To submit printed copy to be able to your Trainer:
*Place the “ Assessment Cover Sheet” provided by your Trainer on leading of your document. Load it up and indication appropriately.