Critical Analysis and Evaluation of the Value of Marketing to Customers and Stakeholder Engagement a

Module Learning Outcomes

Module Learning Outcomes

1. Assess the development of marketing in creating value for customers.
2. Identify relevant internal and external stakeholders and assess their impact on the marketing activities of the organisation.

Write an INDIVIDUAL essay providing a critical analysis and evaluation of the following:

• The role of marketing in creating value for customers.
• Stakeholder engagement and their impact on the marketing activities of an organisation You should use suitable academic theory and industry examples to support your discussion.

TASKS

NOTE: The guidance offered below is linked to the five generic assessment criteria overleaf.

1. Engagement with Literature Skills

Your work must be informed and supported by scholarly material that is relevant to and focused on the task(s) set. You should provide evidence that you have accessed an appropriate range of sources, which may be academic, governmental and industrial; these sources may include academic journal articles, textbooks, current news articles, organisational documents, and websites. You should consider the credibility of your sources; academic journals are normally highly credible sources while websites require careful consideration/selection and should be used sparingly. Any sources you use should be current and up-todate, mostly published within the last five years or so, though seminal/important works in the field may be older. You must provide evidence of your research/own reading throughout your work, using a suitablereferencing system, including in-text citations in the main body of your work and a reference list at the end of your work.

Guidance specific to this assessment: You should show a wide level of reading, a minimum of 14 references, from a variety of sources including textbooks, academic journals and academic based websites. You must reference Kotler & Armstrong 15th/16th edition as your primary source for theory.

2. Knowledge and Understanding Skills

At level 4, you should be able to demonstrate knowledge of the underlying concepts and principles associated with your area(s) of study. Knowledge relates to the facts, information and skills you have acquired through your learning. You demonstrate your understanding by interpreting the meaning of the facts and information (knowledge). This means that you need to select and include in your work the concepts, techniques, models, theories, etc. appropriate to the task(s) set. You should be able to explain the theories, concepts, etc. to show your understanding. Your mark/grade will also depend upon the extent to which you demonstrate your knowledge and understanding.

Guidance specific to this assessment: Relevant models/concepts based on the value of marketing to customers and the engagement and impact of stakeholders on the marketing activities of the chosen organisation should be determined.

3. Cognitive and Intellectual Skills

You should be able to present, evaluate and interpret qualitative and quantitative data, in order to develop lines of argument and make sound judgements in accordance with basic theories and concepts of your subject(s) of study. You should be able to evaluate the appropriateness of different approaches to solving problems related to your area(s) of study and/or work. Your work must contain evidence of logical, analytical thinking. For example, to examine and break information down into parts, makeinferences, compile, compare and contrast information. This means not just describing what! But also justifying: Why? How? When? Who? Where? At what cost? Youshould provide justification for your arguments and judgements using evidence that you have reflected upon the ideas of others within the subject area and that you are able to make sound judgements and arguments using data and concepts. Where relevant, alternative solutions and recommendations may be proposed.

Guidance specific to this assessment: Detailed analysis and evaluation of the various models associated with the value of marketing to customers and stakeholder engagement and impact should be included.

4. Practical Skills

At level 4, you should be able to apply the basic underlying concepts and principles to evaluate and interpret these within the context of your area of study. You should be able to demonstrate how the subject-related concepts and ideas relate to real world situations and/or a particular context. How do they work in practice? You will deploy models, methods, techniques, and/or theories, in that context, to assess current situations,

Perhaps to formulate plans or solutions to solve problems, or to create artefacts. This is likely to involve, for instance, the use of real world artefacts, examples and cases, the application of a model within an organisation and/or benchmarking one theory or organisation against others based on stated criteria.

Guidance specific to this assessment: Detailed facts and figures should be included to support statements made.

5. Transferable Skills for Life and Professional Practice

Your work must provide evidence of the qualities and transferable skills necessary for employment requiring the exercise of some personal responsibility. This includes demonstrating: that you can communicate the results of your study/work accurately and reliably, and with structured and coherent arguments; that you can initiate and complete tasks and procedures, whether individually and/or collaboratively; fluency of expression; clarity and effectiveness in presentation and organisation. Work should be coherent and well-structured in presentation and organisation.

Marketing has evolved significantly over the years, from being simply a means to promote products and services to becoming a key driver of creating value for customers. Today, marketing is focused on understanding the needs and preferences of customers and providing them with tailored solutions that meet their specific requirements.

One of the major developments in marketing that has contributed to creating value for customers is the shift towards customer-centricity. Companies are increasingly recognizing the importance of understanding their customers' needs and preferences, and developing products and services that cater to those needs. This has led to the development of customer-focused marketing strategies that prioritize customer satisfaction and loyalty.

Another important development in marketing that has created value for customers is the use of data and analytics. With the help of advanced analytics tools, companies can now collect and analyze customer data to gain insights into their preferences and behaviors. This information can then be used to develop targeted marketing campaigns and personalized experiences that are tailored to each customer's specific needs.