...HOLMES INSTITUTE FACULTY OF HIGHER EDUCATION Assessment Details and Submission...

Question

...HOLMES INSTITUTE      FACULTY OF   HIGHER EDUCATION      Assessment Details and Submission Guidelines      Trimester T1 2020   Unit Code HI5004  Unit Title Marketing Management  Assessment Type Individual Assignment  This is strictly required to be your own original work. Plagiarism will be penalised.  Students are required to apply the theories and knowledge derived from the unit  materials, demonstrate critical analysis and provide a considered and  comprehensive evaluation. Students must use correct in-text citation conventions.  Assessment Title  Tutorial Question Assignment 1    Purpose of  the assessment  and linkage to  ULO.   Student is required to answer 5 questions come from the recorded tutorial  questions every week from week 3 to week 6  The following Unit Learning Outcomes is applicable to this assessment:  - Student will be able to, integrate theoretical and practical knowledge of  Marketing Management  - Research the tools for gathering marketing information and utilise the tools  to assess markets  - Evaluate consumer behavior and its effect on business performance  - Conduct and apply marketing research to enhance decision making  including segmentation and targeting and positioning  Weight  25%     Total Marks  50 Marks   Word limit   The word limited is provided in each question   Due Date  Week 8 - 22/5/2020 Friday 11:59 PM   [Late submission penalties accrue at the rate of -5% per day]   Submission  Guidelines  • All work must be submitted on Blackboard by the due date along with a  completed Assignment Cover Page.    • The assignment must be in MS Word format, 1.5 spacing, 12-pt Arial font and  2 cm margins on all four sides of your page with appropriate section headings  and page numbers.     • Reference sources must be cited in the text of the report, and listed  appropriately at the end in a reference list, all using Harvard referencing style.          Page 2 of 3 Assignment Specifications   Purpose:   This individual assignment is an opportunity for students to demonstrate their understanding of  marketing management Details Answer All FIVE (5) of the following questions. The questions come from the recorded tutorial  questions from week 3 to week 6.   Question 1 Week 3: Tutorial 2 (10 marks)  The firm's success depends not only on how well each department performs its work, but also  on how well the various departmental activities are coordinated to conduct core business  processes. List and briefly describe in 300 words the four core business processes. Use an  example for each process to illustrate your discussion   Question 2 Week 4: Tutorial 3 (10 marks)  Explain what is qualitative research and why it might be useful to marketers. What are its  major drawbacks? Answer this question in 300 words   Question 3 Week 5: Tutorial 4 (10 marks)  https://www.youtube.com/watch?v=7oUqt-WbFkY  “Consumers have become part-time marketers”. Use the information from the video and  discuss to this statement in 300 words.   - The discussion must contain the information from video  - You must support your discussion by referring to 3 additional academic sources from  ProQuest (ensure that you reference them correctly)  Question 4 Week 5: Tutorial 4 (10 marks)  The family is the most important consumer buying organization in society, and family  members constitute the most influential primary reference group. Name two family  categorizations and discuss the impact of each of the categories on buying behavior. Answer  this question in 300 words  Question 5 Week 6: Tutorial 5 (10 marks)  https://www.youtube.com/watch?v=tF9r9LrOb70  Watch the video and answer all 3 questions in a total of 300 words.    1. How can Tesla implement a marketing campaign with limited budget? (4 marks)  2. Who is the target customer of Tesla? (3marks)  https://www.youtube.com/watch?v=7oUqt-WbFkY https://www.youtube.com/watch?v=tF9r9LrOb70   Page 3 of 3 3. What is the future of Tesla? (3 marks)

Dilpreet · Accepted Answer

MARKETING MANAGEMENT: TUTORIAL QUESTIONS
ASSIGNMNET 1
Table of Contents
Question 1 Week 3: Tutorial 2	3
Question 2 Week 4: Tutorial 3	4
Question 3 Week 5: Tutorial 4	5
Question 4 Week 5: Tutorial 4	5
Question 5 Week 6: Tutorial 5	6
References	8
Question 1 Week 3: Tutorial 2
For business organisations to achieve maximum output out of their core business processes, coordination among the departments to perform the core business processes has become essential. Core business processes are defined as the minimum tasks that have to be performed so that a certain level of consistency in the outcomes of the core business processes can be achieved. Four core business processes of a business organisation have been determined as:
· The new offering realisation process: This process involves developing the new goods and products, which are core to the business. This requires analysing the changing choices and preferences of the customer. This process could be though similar to product differentiation strategy of the business, which assist a business organisation to provide a wider market offering (Nasr & Cheraghi, 2017). Launching products based on latest technologies is one of the examples of new offering realisation process.
· The process of sensing the market: This process involves deployment of different research techniques for collecting data from the market, which is mostly qualitative in nature. This is essential for the management to understand the external environment of the business with greater efficiency and effectiveness. This helps to understand the needs and demands of the customers along with the competition existing in market. Market surveys and interviews are the examples of market sensing process.
· Customer acquisition process: This involves attracting and retaining a large number of potential customers in the target market. This is necessary to build a loyal customer base leading to enhanced brand image (Alhawari, Alryalat & Hunaiti, 2016). Using promotional schemes to attract customers is one of the examples of customer acquisition process.
· Customer relationship management process: This process includes the strategies adopted by the business organisations to get involved and engaged with the customers. This helps business organisation to capture the opportunities available in the market. Providing customers with better after sales services is an example of CRM.
Question 2 Week 4: Tutorial 3
Qualitative research in marketing is a method of closely observing the processes that may assist in determining the motivational forces drives the purchasing behaviour of the consumers. Qualitative market research is often conducted in small groups or by meeting the customers face-to-face. The conclusions are derived from a more focused group of individuals. Through qualitative research market researchers examine and observe the philosophies that govern the behaviour of the consumers (Myers, 2019). This type of research often makes the researcher divert the direction of the research as new information keeps on adding while moving further. This research is suitable for conducting an in-depth analysis of the challenges and opportunities in the market.
Qualitative market research proves to be beneficial in the following ways:
1. It helps to develop a broader picture of the driving forces, which may modify the buying behaviour of the customers in the target group. 
2.

HOLMES INSTITUTE FACULTY OF HIGHER EDUCATION Assessment Details and Submission Guidelines Trimester T1 2020 Unit Code HI5004 Unit Title Marketing Management Assessment Type Individual Assignment This...

Answer To: HOLMES INSTITUTE FACULTY OF HIGHER EDUCATION Assessment Details and Submission Guidelines Trimester...

Answer To This Question Is Available To Download

Related Questions & Answers

Submit New Assignment