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MOD003507 Principles and Practices of Marketing

Question

Answered

Question:

Task one:

You are working as a marketing consultant and have been asked to undertake research into the promotional tactics of a UK based fashion retailer or bank of your choice. Information is required on the practical promotional mix policies undertaken by the company. Your research should form part of a portfolio and could take the form of written summary, videos (provide hyperlink), website screenshots, pictures you take, and promotional campaigns you discover.

Include promotional activity that occurs:

· At customer facing touchpoints (i.e. store/ offices/ reception areas).

· In external spaces (i.e. advertising billboards).

· Via digital platforms (i.e. websites, social media).

· Through third parties (i.e. news articles, analyst reports).

Task one assessment criteria:

· Knowledge of relevant literature that would permit an understanding of affective marketing solutions. This will take the form of strategies and tactical plans that are supported by a sound information base.

· The ability to use creative marketing skills and knowledge in a practical and applied situation. The work should demonstrate intellectual originality and imagination.

Points to consider:

Task one:

· The task requires you to be creative and use your marketing knowledge and skills so that the portfolio gives a broad picture of the promotional techniques used by your chosen company in a practical and tactical manner.

· A range of research needs to be undertaken. This is a creative task so there are few set boundaries to what you should include in your portfolio. However, note that the task is worth 60 marks and is therefore equivalent to approximately 1,800 words.

It is strongly advised that you prepare an additional 500 words background related to the company’s marketing. This can be applied within the body of your assessment, but does not constitute part of the 3,000-word count.

Task two:

As part of the promotional mix portfolio, you must support your practical work with a formal report. This report should apply the theoretical aspects of the promotional mix used in your chosen fashion retailer or bank and evaluate the effectiveness of these tactics.

Apply 2 of the following marketing theories to the same company used in task one and critique how effectively they have been implemented. Twenty (20) marks will be available for each theory you choose.

· AIDA

· Above / below the line

· Push and pull strategies

· The communication process.

Task two assessment criteria:

· Knowledge and understanding of the theories applied to past and current marketing management concepts. This knowledge needs to be used to critically appraise the way in which marketing theory relates to marketing practice.

· The ability to express theories accurately and in and sound structure. Learning resources must be effectively managed and show a high degree of exploration.

Points to consider:

Task two:

· The report could include, for example, how the company applies the two theories you choose, with clear examples. The inclusion of diagrams to illustrate how each theory works is advisable.

· You need to evaluate how effectively these strategies have been implemented. In order to do so you may consider objective data such as KPI outcomes found in company reports.

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