Compare and Evaluate Marketing Mix Strategies for Supermarket Industry

Part A: Comparing Marketing Mix Strategies

Compare ways in which organisations use elements of the marketing mix (7Ps) to achieve overall business objectives. LO3. Develop and evaluate a basic marketing plan. Assessment Criteria (Awarding body Specification) P3. Compare the ways in which different organisations apply the marketing mix to the marketing planning process to achieve business objectives. P4. Produce and evaluate a basic marketing plan for an organisation. M3. Evaluate different tactics applied by organisations to demonstrate how business objectives have been achieved. M4. Produce a detailed, coherent evidence-based marketing plan for an organisation. D2. Design a strategic marketing plan that tactically applies the use of the 7Ps to achieve overall marketing objectives. Assignment Brief and Guidance: You have been appointed as the new Marketing Manager for an organisation of your choice within the supermarket industry. The first objective you have been set is to research the competition and produce a marketing plan based on your findings. This assignment has two parts: Part A: Compare how the chosen organisation uses the various elements of the 7Ps marketing mix with that of a competitor. This will be submitted as a briefing paper for the marketing team. The briefing paper will explain how the marketing mix and marketing process is used to achieve business objectives, relating to the two chosen organisations. This research will inform your situational analysis and enable you to formulate marketing goals and objectives for your organisation based on the comparative findings. Part B: Produce a marketing plan to meet marketing goals and objectives. The marketing plan should include all elements of the 7Ps marketing mix, with an action plan and measures for monitoring and evaluating progress and meeting of goals and objectives. Grading Criteria for Assignment 1 Learning outcome Pass Merit Distinction LO2 Compare ways in which organisations use elements of the marketing mix (7Ps) to achieve overall business objectives. P3. Compare the ways in which different organisations apply the marketing mix to the marketing planning process to achieve business objectives. M3. Evaluate different tactics applied by organisations to demonstrate how business objectives have been achieved. D2. Design a strategic marketing plan that tactically applies the use of the 7Ps to achieve overall marketing objectives. LO3 Develop and evaluate a basic marketing plan. P4. Produce and evaluate a basic marketing plan for an organisation. M4. Produce a detailed, coherent evidence-based marketing plan for an organisation. Briefing notes to help with your assignment The selection of the supermarkets would be based on the six largest organisations based on market share – Tesco, Sainsbury’s, Asda, Morrisons, Co-op and Aldi. Your work is to further research, analyse and present an academic briefing paper and a completed marketing plan. As a template you can use McDonald’s marketing plan format. To achieve a higher grade you will need to meet all the pass criteria first and then attempt the higher grade descriptors as explained in the grading criteria above. Ensuring you thoroughly cover and achieve on all the requirements of the higher grade descriptors. Higher Education Assignment Brief Summary of the key terms used to define the requirements of the grading descriptors for this assignment. Term Definition Explain To give an account of the purposes or reasons. Identify Indicate the main features or purpose of something by recognising it and/or being able to discern and understand facts or qualities. Apply Put into operation or use. Use relevant skills/knowledge/understanding appropriate to context. Analyse Present the outcome of methodical and detailed examination either: ● Breaking down a theme, topic or situation in order to interpret and study the interrelationships between the parts and/or ● Of information or data to interpret and study key trends and interrelationships. Analysis can be through activity, practice, written or verbal presentation. Critically evaluate Make a judgement taking into account different factors and using available knowledge/experience/evidence where the judgement is supported in depth. Assignment submission format: Part A: A briefing paper of the situational analysis research to support the marketing plan goals and objectives. Your research should be referenced using the Harvard referencing system. Please also provide a bibliography using the Harvard referencing system. The recommended word limit is 1,000–1,500 words, although you will not be penalised for exceeding the total word limit. Part B: A completed marketing plan. A marketing plan template will be provided, but it is not mandatory to use this.