HI5004 Marketing Management
Task:
Purpose:
This assignment is designed to assess your level of knowledge of the key topics covered in this unit
Unit Learning Outcomes Assessed:
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
Develop creative marketing strategies for new product development including product, price, people and promotion - Generate creative strategies for customer acquisition and retention
The questions to be answered are:
Question 1:
Covid-19 as a large bulldozer is an apt image where businesses and the economy are concerned. But whilst our day to day lives have changed, for business, the show must go on — or else risk complete failure. It is undeniable that some businesses won’t be able to thrive during this period. But with creative thinking and a change of tactics, many businesses will be able to adapt and succeed, even during a lockdown.
Select one industry in the list below:
- Fashion
- Tourism
- Hospitality
- Education
- Retail
- Food
You are required to provide and discuss some suggestions to adapt the marketing strategy of the industry selected for Covid -19.
Question 2
Lovemarks – The future beyond brands
Lovemarks is a marking concept that is intended to replace the idea of brands. The idea was first widely publicized in a book of the same name written by Kevin Roberts, CEO of the advertising agency Saatchi & Saatchi. Watch the video and the paper in the links below and provide your opinion. Do you agree with Kevin about Lovemarks concept? If yes, why and if no, why not? You have to use the information from the links to support your discussion.
Question 3
answer the following questions:
- What are the benefits for the company to understand about consumer behaviour?
- Using the information from the video and discuss about the tools that company can use to understand about consumer behaviour
Answer the question in 300 words and you must use the information from the video to support your discussion
Question 4
You are marketing manager for a noodle company. Your company is launching a new noodle soon called ‘Amazing Thai’. This noodle tastes delicious and uses Thai ingredient. Define the term “target market”, and suggest a potential target market for new ‘Amazing Thai” noodle.
Question 5
answer the questions:
What is Zara’s product strategy?
How did Zara take over the industry using “fast fashion”?
Answer the question and you must use the information from the video to support your discussion
Question 6
You work as a sales representative in a company that manufactures surgical equipment. Before calling on an important prospect, you decide to search the Internet and find out details about her/him. What step in the selling process is being carried out here? What is the importance of this step?
