Strategic Management
explain how you would create appropriate strategic marketing objectives for a market
Following on from the above 2 points, here you need to select a particular market – ideally the one that your own organisation operates in – and describe how you would create appropriate strategic marketing objectives (not actions) aimed at achieving success in that market.
Section 4
Demonstrate how you would respond to changes in the marketing environment
report on the impact of changes in the external environment on a marketing strategy
Here you should structure your response around identifying relevant External (business) Environment Changes such as the rapid growth of online business, the effects of the current recession, or major demographic change – then analysing the likely (or known) market response (ie from customers, clients, or competitors) – then suggesting how organisations might adjust or change their marketing strategies in response to these factors
demonstrate how you would conduct an internal analysis to identify current strengths and weaknesses in a marketing strategy
Ideally using your own organisation (talk with your Tutor if that is impossible) for this you need to use a SWOT Analysis, but one that is Marketing Strategy focused. For example - in the Strengths you need to identify areas where the organisation is stronger, more competitive, than its main competitors – in the Threats you need to identify threats from not only existing competitors but also potential ones, and from potential or imminent changes in technologies that might affect your market (as the internet has done to traditional retailers). Bear in mind that the effectiveness of a SWOT analysis, particularly the strategies and tactics that are then implemented based on the outcomes, is totally dependent on the accuracy and relevance of the information fed into it
propose a strategic marketing responses to key emerging themes in a marketing strategy
For this you will need to select 3
Following on from the above 2 points, here you need to select a particular market – ideally the one that your own organisation operates in – and describe how you would create appropriate strategic marketing objectives (not actions) aimed at achieving success in that market.
Section 4
Demonstrate how you would respond to changes in the marketing environment
report on the impact of changes in the external environment on a marketing strategy
Here you should structure your response around identifying relevant External (business) Environment Changes such as the rapid growth of online business, the effects of the current recession, or major demographic change – then analysing the likely (or known) market response (ie from customers, clients, or competitors) – then suggesting how organisations might adjust or change their marketing strategies in response to these factors
demonstrate how you would conduct an internal analysis to identify current strengths and weaknesses in a marketing strategy
Ideally using your own organisation (talk with your Tutor if that is impossible) for this you need to use a SWOT Analysis, but one that is Marketing Strategy focused. For example - in the Strengths you need to identify areas where the organisation is stronger, more competitive, than its main competitors – in the Threats you need to identify threats from not only existing competitors but also potential ones, and from potential or imminent changes in technologies that might affect your market (as the internet has done to traditional retailers). Bear in mind that the effectiveness of a SWOT analysis, particularly the strategies and tactics that are then implemented based on the outcomes, is totally dependent on the accuracy and relevance of the information fed into it
propose a strategic marketing responses to key emerging themes in a marketing strategy
For this you will need to select 3
References: are not included in the Word Count.