Understanding the importance of marketing for an organization

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Tutorial Support – Understanding the importance of marketing for an organization

Word Count: 2000 (Minimum: 1500 / Maximum: 2500)

Section 1: Understand the market within which an organisation operates

AC 1.1 – Review the market within which own organization operates, focusing on market size, the organization’s share of that market and its competitor profile

REVIEW – Overall, how well does this work, and what may need to be done about it?

Making  a judgement  about  a topic  which  relies upon  a combination  of evidence  and  some  kind  of theoretical model, construct or practice. A review normally has breadth and could include a comparative element, and tends to focus more on the whole. A review may well lead onto detailed further exploration and/or recommendations for further actions.

   The aim of the task is to prepare a situation analysis

   The situation analysis should provide an overview of the market the organisation operates is

(External environment – macro and micro factors)

   Macro Factors = PESTEL Analysis

   Micro Factors = Market, Competitors, Customers, Suppliers, and/or Stakeholders

   Market size: How big is the market? i.e. monetary or volume or both

   Market share: What share does your or ganisation have of the market size? i.e. %

   How is the market segmented?

   Competitor Profile

      Who are we competing with?

      What is the competitive advantage of our competitors?

      Do the competitors have any weaknesses?

      What is their short-term and long-term strategy?

   Should end with a SWOT Analysis to summarise the situation analysis

16 Marks

IMPORTANT

The market within which own organisation operates and the market size and the organisation’s share of that market and the organisation’s own competitive  pro le has been correctly reviewed to make a judgement based upon a combination of extensive evidence and an appropriate theoretical marketing model

AC 1.2 – Explain the role of the marketing function and activities within own organisation

EXPLAIN – How does it work?

Involves some description of a topic with an account of the practices associated with the topic. It may also imply some reasons for those practices, depending on context. Again, the level of cognitive skill involved will depend on the complexity of the subject matter.

➢   What is the role of the marketing function? (refer to notes on pg.5)

➢   What are the main activities carried out?

➢   Who is responsible for what? Where does the marketing function lay within the organisational structure?

•   Does it have a strategic purpose? Or basically as a support provider?

➢   Are there activities which are subcontracted to third-parties? If yes, what?

➢   Can be considered as an operational review

20 MARKS
IMPORTANT
Accounts have been provided to explain how the role of the marketing function and activities works within own organisation that take into account the full range of marketing activities

Section 2: :  Understand the effectiveness of marketing within own organisation

AC 2.1 – Evaluate the effectiveness of a marketing campaign within own organisation

EVALUATE – How well does each part of this work, and what needs to be done to make it work better?

An evaluation is an examination of complex issues, requiring higher level cognitive skills, that is more focused (narrower area, but in more detail) than a review. An evaluation is normally detailed and normally provides a solution or conclusion and/or recommendation (perhaps for further exploration). An evaluation could include a comparative element. An evaluation tends to focus on the whole as the sum of its parts.

Remember the difference between efficient and effective

➢   Efficient = doing things right

➢   Effective = doing the right things

Refer to the marketing communications framework in the notes, pg.15

➢   Was there a marketing communications plan?

➢   Was the campaign aligned with the objectives of the organisation?

➢   What strategy was used? Was it effective?

➢   Was the core message aligned with the campaign objectives?

➢   What media channels were selected? Was there a raison d’etre of which channels were selected?

➢   Was there a budget? Did the campaign cost stay within budget?

➢   How was the performance of the campaign being monitored or measured?

➢   Was a review process in place during the campaign? If yes, who was responsible? And how responsive would changes be made?

32 MARKS
IMPORTANT
The effectiveness of a marketing campaign has been correctly and appropriately evaluated using a wide evidence base that addresses all aspects of the marketing campaign to provide a conclusion or recommendations

AC 2.2 – Make recommendations to improve the effectiveness of a marketing campaign within own organisation

In this task you are requested to make recommendations to the marketing campaign you just evaluated to improve its effectiveness.

Possible recommendations to consider:

➢   Carry out market/consumer research

➢   Ensuring a communications plan is in place with clear objectives

➢   Test campaign message (ex. Focus groups)

➢   Ensure a review process is in place

➢   Performance monitoring – ex. Marketing dashboard, reporting

➢   Post campaign research

➢   Budget control

16 MARKS IMPORTANT

Recommendations are based on a correct and appropriate evaluation and detailed metrics are provided to show the recommendations will improve the effectiveness of a marketing campaign within own organisation

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