UNIT 2930 DEVELOP AND COORDINATE MARKETING STRATEGIES
Risks and returns associated with strategies are balanced against the feasibility of achieving marketing objectives.
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:
Performance measures and review mechanisms are determined in terms of the strategic marketing mix.
Strategic marketing plan is produced that incorporates marketing strategies, performance and review mechanisms, and details resource requirements.
Marketing and positioning strategies Forecasts
Performance evaluation and monitoring Appendix (if applicable)
YOU ARE REQUIRED TO COMPLETE EACH OF THE FOLLOWING TASKS:
Choose an organisation or a recognised brand name and provide a brief description of the products/services offered by the organisation.
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.
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.
4.0 Situation Analysis
4.1.2 Explain how marketing strategies can affect profitability. (Refer to life cycle
models in your answer).
4.1.3 Critically evaluate the relationship between marketing activities, market
share and market growth. (Include product portfolio analysis in your answer).
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).
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).
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:
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).
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
5.2 Critically evaluate how distinctive competencies impact marketing objectives, competitive advantage, and strategic fulfilment.
5.3 Rank the marketing objectives in terms of strategic value from most important
to least important.
6.1 Define the strategic marketing mix (4Ps) that will produce maximum business
- Product attributes
- Usage and users
- Product class
- Consumer needs and benefits
6.4 Explain how the following factors help shape marketing strategy:
- Status quo
- Intense growth
- Market penetration
- Market development
- Product development
- Integrated growth
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
7.1 Explain the value of accurate sales forecasts for the organisation (include
qualitative and quantitative factors).
7.2 Identify and explain the resource requirements for the implementation of a
successful marketing plan.
8.1 Define optimal performance measures and review mechanisms for thestrategic marketing mix.
8.2 Recommend corrective action for any gaps in marketing objectives, organisational capability, and performance.