UNIT 2930 DEVELOP AND COORDINATE MARKETING STRATEGIES

 

 
 
 

LO 1

Analyse and assess marketing performance and current strategic

Range – product portfolio analysis, comparative analysis, competitive

position.

analysis, life cycle models, strengths-weaknesses- opportunities-threats (SWOT)

analysis, value chain analysis.

1.1

Markets for a specific product are evaluated in terms of current competitive position and market attractiveness.

1.2

Competition in market segments is assessed and analysed for impact upon marketing strategy.

1.3

Marketing activities are evaluated for their contribution to market share and rate of market growth.

1.4

Sales forecasts are completed and evaluated qualitatively and quantitatively.

1.5

Selected marketing strategies are assessed for their impact upon profit.

1.6

Assessments of marketing performance against current marketing strategy are produced and are evaluated against the extent to which objectives have been met.

1.7

External environmental factors are examined for impact upon marketing strategies.

Range – social, economic, demographic, cultural, ethnic, natural, political, legal, regulatory, technological, and competitive.

1.8

Marketing resource utilisation is analysed and resource issues are assessed for their potential impact upon strategic marketing position.

LO 2

Develop and evaluate strategic options to meet specific marketing objectives.

2.1

Strategic options are developed that meet agreed marketing objectives.

Range – target market, demand, product, pricing, distribution, promotion.

2.2

Strategic options are evaluated in terms of compatibility with marketing objectives.

Range includes – ability to maximise key opportunities and marketing strengths, critical success factors in the intended market, marketing capabilities and resources, market characteristics, competitive factors.

2.3

Distinctive competencies and competitive advantages of strategic options are evaluated in terms of compatibility with marketing objectives.

LO 3

Select marketing strategies.

3.1

Information gained from the evaluation of strategic options is used to rank options.

3.2

Risks and returns associated with strategies are balanced against the feasibility of achieving marketing objectives.

3.3

Marketing strategies are selected that provide the best fit between the organisation's goals and capabilities, and marketing opportunities.

3.4

Gaps in capability between current performance and new objectives are identified and corrective measures recommended.

LO 4

Produce a strategic marketing plan that

4.1

meets organisational and marketing objectives.

Desired market position is defined to meet organisational and marketing objectives.

Range – product attributes, usage and users, product class, consumer needs and benefits, competition.

4.2

Generic market strategy is formulated to meet organisational and marketing objectives.

Range – status quo, intense growth, market penetration, market development, product development, diversification, integrated growth.

4.3

Marketing approaches are analysed and selected to meet organisational and marketing objectives.

Range – mass marketing and distribution, product variety marketing, differentiated target marketing, concentrated target marketing.

4.4

Target markets are confirmed, current and future market demand assessments are analysed, and targets are set, to meet organisational and marketing objectives.

4.5

Confirmation is obtained from stakeholders that strategic marketing mix meets organisational and marketing objectives.

 

INTRODUCTION:

This unit standard is for students working in Marketing or who wish to pursue a career in in Marketing, and who have the desire to influence strategic direction and develop marketing activities.

You will be assessed for this unit standard on the basis of evidence of demonstrated performance in producing a formal strategic marketing plan for an existing organisation of your choice in agreement with your course tutor.

The strategic marketing plan you produce should be structured accordingly:

4.6

Performance measures and review mechanisms are determined in terms of the strategic marketing mix.

 
4.7

Strategic marketing plan is produced that incorporates marketing strategies, performance and review mechanisms, and details resource requirements.

 
STRUCTURE:

Title page
Executive summary
Product/Service description
Target market(s)
Situation analysis
Strategic options
Marketing and positioning strategies Forecasts
Performance evaluation and monitoring Appendix (if applicable)

YOU ARE REQUIRED TO COMPLETE EACH OF THE FOLLOWING TASKS:

1.0 Introduction

Choose an organisation or a recognised brand name and provide a brief description of the products/services offered by the organisation.

2.0 Objectives

2.1  Identify and define the organisation’s marketing objectives. (Include reference to a target market, demand, product (or service), pricing, promotion, and distribution).

2.2  Explain how these marketing objectives support the strategic goals of the organisation.

(ER 2.1)

3.0 Target market(s)

3.1 Define market characteristics and identify potential market opportunities for the organisation.

(ER 2.2, 3.3)

3.2  Assess current and future demand in the market.

3.3  Define new marketing targets that could satisfy future demand.

(ER 4.4)

4.0 Situation Analysis

4.1 Current market performance
4.1.2 Explain how marketing strategies can affect profitability. (Refer to life cycle

models in your answer).

(ER 1.5)

4.1.3 Critically evaluate the relationship between marketing activities, market

share and market growth. (Include product portfolio analysis in your answer).

(ER 1.3)

4.1.4 Assess the organisation’s marketing strategies and marketing performance and evaluate the contribution they make to the organisation. (Include comparative analysis in your answer).

(ER 1.6)

 
 

4.2 Market position and competition

4.2.1 Evaluate market attractiveness and competitive positioning of the products/services offered by the organisation. (Include competitive analysis in your answer).

(ER 1.1)

4.2.2 Assess how competition could impact the organisation’s marketing strategy. (ER 1.2)

4.3 External macro-environment
4.3.1 Describe the potential impact of each of the following external environmental factors on the organisation’s marketing strategies:

  • Social

  • Economic

  • Demographic

  • Cultural

  • Ethnic

  • Natural

  • Political

  • Legal

  • Regulatory

  • Technological

  • Competitive

(ER 1.7)

4.4 Key issues

4.4.1 Identify the resources needed in marketing and assess the potential impact on the organisation’s strategic marketing position if any resources are missing or inadequate. (Refer to value chain analysis in your answer).

(ER 1.8)

5.0 Strategic options
5.1 Assess the degree to which the marketing objectives align with the strategic goals. Refer to the following in your answer:

  • Ability to maximise key opportunities and marketing strengths

  • Employ critical success factors in the market

  • Maximise marketing capabilities and internal resources

  • Capitalise on market characteristics

  • Improve competitiveness

(ER 2.2)

5.2  Critically evaluate how distinctive competencies impact marketing objectives, competitive advantage, and strategic fulfilment.

(ER 2.3)

5.3  Rank the marketing objectives in terms of strategic value from most important

to least important.

(ER 3.1)

 

6.0 Marketing and positioning strategies value

6.1 Define the strategic marketing mix (4Ps) that will produce maximum business

(ER 3.3)

6.2 Identify the risks and returns of marketing strategies.

(ER 3.2)

6.3 Identify the desired market position. Refer to the following factors in your

answer:

  • Product attributes

  • Usage and users

  • Product class

  • Consumer needs and benefits

  • Competition

(ER 4.1)

6.4 Explain how the following factors help shape marketing strategy:

  • Status quo

  • Intense growth

  • Market penetration

  • Market development

  • Product development

  • Diversification

  • Integrated growth

(ER 4.2)

6.5 Analyse each of the following marketing approaches that the organisation could potentially adopt to reach its target market(s), and select the approach(es) that will best help the organisation meet its marketing objectives.

  • ●  Mass marketing and distribution

  • ●  Product variety marketing

  • ●  Differentiated target marketing

  • ●  Concentrated target marketing

(ER 4.3)

7.0 Forecasts

7.1  Explain the value of accurate sales forecasts for the organisation (include

qualitative and quantitative factors).

(ER 1.4)

7.2  Identify and explain the resource requirements for the implementation of a

successful marketing plan.

(ER 4.7)

8.0 Performance evaluation and monitoring

8.1  Define optimal performance measures and review mechanisms for thestrategic marketing mix.

(ER 4.6)

8.2  Recommend corrective action for any gaps in marketing objectives, organisational capability, and performance.

(ER 3.4)

 


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