Assessment Task – Tutorial Questions Assignment Unit Code: HI5004 Unit Name: Marketing Management Assignment: Tutorial Questions Due: 11:30pm 12th October 2020 Weighting: Total Mark 50 = 50% Purpose:...

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Assessment Task – Tutorial Questions Assignment Unit Code: HI5004 Unit Name: Marketing Management Assignment: Tutorial Questions Due: 11:30pm 12th October 2020 Weighting: Total Mark 50 = 50% Purpose: This assignment is designed to assess your level of knowledge of the key topics covered in this unit Unit Learning Outcomes Assessed: - Student will be able to integrate theoretical and practical knowledge of Marketing Management - Research the tools for gathering marketing information and utilise the tools to assess markets - Evaluate consumer behaviour and its effect on business performance - Conduct and apply marketing research to enhance decision making including segmentation and targeting and positioning - Develop creative marketing strategies for new product development including product, price, people and promotion - Generate creative strategies for customer acquisition and retention Description: Each week students were provided with three tutorial questions of varying degrees of difficulty. These tutorial questions are available in the Tutorial Folder for each week on Blackboard. The Interactive Tutorials are designed to assist students with the process, skills and knowledge to answer the provided tutorial questions. Your task is to answer a selection of tutorial questions covered over Week 2 to Week 11 inclusive. It is important when you answer the questions, you do not just copy and paste the answers from other sources, but rather, try to paraphrase it and provide reference (in- text referencing) to your answers. All references must be listed appropriately at the end of the report using Harvard referencing style. The questions to be answered are: Question 1: (11 marks) Week 2 - Question 2: Covid-19 as a large bulldozer is an apt image where businesses and the economy are concerned. But whilst our day to day lives have changed, for business, the show must go on — or else risk complete failure. It is undeniable that some businesses won’t be able to thrive during this period. But with creative thinking and a change of tactics, many businesses will be able to adapt and succeed, even during a lockdown. Select one industry in the list below: - Fashion - Tourism - Hospitality - Education - Retail - Food You are required to provide and discuss some suggestions to adapt the marketing strategy of the industry selected for Covid -19. Word count: no more than 500 words Reference: at least 2 academic sources to support your discussion Question 2: (11 marks) Week 6: Question 2: Lovemarks – The future beyond brands Lovemarks is a marking concept that is intended to replace the idea of brands. The idea was first widely publicized in a book of the same name written by Kevin Roberts, CEO of the advertising agency Saatchi & Saatchi. Watch the video and the paper in the links below and provide your opinion in 300 words. Do you agree with Kevin about Lovemarks concept? If yes, why and if no, why not? You have to use the information from the links to support your discussion. http://redrose.consulting/speeches/the-power-of-love/ http://www.saatchikevin.com/lovemarks/future-beyond-brands/ Question 3: (7 marks) Week 4: Question 1 https://www.youtube.com/watch?v=jeQ7C4JLpug Watch the video in the link above and answer the following questions: - What are the benefits for the company to understand about consumer behaviour? - Using the information from the video and discuss about the tools that company can use to understand about consumer behaviour Answer the question in 300 words and you must use the information from the video to support your discussion Question 4: (7 marks) Week 5: Question 3 You are marketing manager for a noodle company. Your company is launching a new noodle soon called ‘Amazing Thai’. This noodle tastes delicious and uses Thai ingredient. http://redrose.consulting/speeches/the-power-of-love/ http://redrose.consulting/speeches/the-power-of-love/ http://redrose.consulting/speeches/the-power-of-love/ http://redrose.consulting/speeches/the-power-of-love/ http://redrose.consulting/speeches/the-power-of-love/ http://redrose.consulting/speeches/the-power-of-love/ http://redrose.consulting/speeches/the-power-of-love/ http://redrose.consulting/speeches/the-power-of-love/ http://redrose.consulting/speeches/the-power-of-love/ http://www.saatchikevin.com/lovemarks/future-beyond-brands/ http://www.saatchikevin.com/lovemarks/future-beyond-brands/ http://www.saatchikevin.com/lovemarks/future-beyond-brands/ http://www.saatchikevin.com/lovemarks/future-beyond-brands/ http://www.saatchikevin.com/lovemarks/future-beyond-brands/ http://www.saatchikevin.com/lovemarks/future-beyond-brands/ https://www.youtube.com/watch?v=jeQ7C4JLpug https://www.youtube.com/watch?v=jeQ7C4JLpug https://www.youtube.com/watch?v=jeQ7C4JLpug https://www.youtube.com/watch?v=jeQ7C4JLpug Define the term “target market”, and suggest a potential target market for new ‘Amazing Thai” noodle in 300 words. Question 5: (7 marks) Week 7: Question 2: Watch the video in the link below and answer the questions: https://www.youtube.com/watch?v=I8_gmYNCQ1g What is Zara’s product strategy? How did Zara take over the industry using “fast fashion”? Answer the question in 300 words and you must use the information from the video to support your discussion (7 marks) Question 6: (7 marks) Week 11: Question 1: You work as a sales representative in a company that manufactures surgical equipment. Before calling on an important prospect, you decide to search the Internet and find out details about her/him. What step in the selling process is being carried out here? What is the importance of this step? Answer this question in 300 words with 2 references to support your argument (7 marks) Submission Directions: The assignment has to be submitted via Blackboard. Each student will be permitted one submission to Blackboard only. Each student needs to ensure that the document submitted is the correct one. Academic Integrity Academic honesty is highly valued at Holmes Institute. Students must always submit work that represents their original words or ideas. If any words or ideas used in a class posting or assignment submission do not represent the student’s original words or ideas, the student must cite all relevant sources and make clear the extent to which such sources were used. Written https://www.youtube.com/watch?v=I8_gmYNCQ1g https://www.youtube.com/watch?v=I8_gmYNCQ1g assignments that include material similar to course reading materials or other sources should include a citation including source, author, and page number. In addition, written assignments that are similar or identical to those of another student in the class is also a violation of the Holmes Institute’s Academic Conduct and Integrity Policy. The consequence for a violation of this policy can incur a range of penalties varying from a 50% penalty through to suspension of enrolment. The penalty would be dependent on the extent of academic misconduct and the student’s history of academic misconduct issues. All assessments will be automatically submitted to Safe-Assign to assess their originality. Further Information: For further information and additional learning resources, students should refer to their Discussion Board for the unit.
Answered Same DayOct 06, 2021HI5004

Answer To: Assessment Task – Tutorial Questions Assignment Unit Code: HI5004 Unit Name: Marketing Management...

Priyanka answered on Oct 08 2021
139 Votes
QUESTION 1: (WEEK 2: QUESTION 2)
SUITABLE SUGGESTIONS TO ADAPT MARKETING STRATEGIES IN EDUCATION INDUSTRY DUE TO COVID-19:
Covid-19 has been the global pandemic since March 2020 and has affected not just one national border, but all over the world. Nevertheless, irrespective of gender, income status and education level, it has affected all of them to the hardest. Education industry is not exempted from these as the crisis has shut
down schools worldwide and the world of online opportunities started since the lockdown. The mismatch been the resources and needs has been existing due to online education with need of broadband connections and laptops/PCs since a sudden fortnight. (oecd.org, 2020)
Students have become more important for Ed tech companies more than never before such that leading companies are investing more in the education industry for pleasing the customers. Few of the marketing strategies that can be adapted are:
· More access to education initiatives to various groups of audiences
More and more companies are taking the initiative to not charge fees from students who views their content online for the first time. They are encouraged to view the content for free after registering their email IDs which is a recent technique used to generate leads. After viewing a certain amount of the contents online, they are informed about the various courses and plans provided by the
companies and develops interest in tem to become a paid member.
This method is followed to encourage customer support and retention and also to increase brand awareness during these difficult times. (trainingindustry.com, 2020)
For example: companies like Chegg provide expert advice to students regarding various subjects and increases customer engagement by posting ads regarding their various courses available online. In this way, students are eager to become a paid member of Chegg to get more access to various contents.
· Being flexible in online transition
In order to generate new customers, more and more companies conduct webinars through online platforms and tools like Zoom, Google Meet etc. This online business model also includes providing of online delivery services and retaining the existing clients by connecting with them on a 1:1 basis. (trainingindustry.com, 2020)
· Understanding and updating about the changing client needs
Due to drastic change in the working patterns by changing to work from home, many companies provide new ways to use existing tools, new tools to learn new courses and also flexible schedules as per the client needs. In this way, customers are engaged with their products by knowing their changing needs. (trainingindustry.com, 2020)
· Expecting operational defects
Many ed tech start ups are piling up in the industry. With this, more and more customers are also interested in pursuing paid memberships in these platforms. As a result, many start ups does not have relevant resources to support the increasing traffic. Thus, there would be few operational defects like slowdown of the website in which courses are available online. These defects can be expected earlier and the required measures can be taken in advance so as to retain the customers. (Gartner.com, 2020)
QUESTION 2 (WEEK 6: QUESTION 2)
Love marks concept put forth by Kevin Roberts explains a simple agenda: Business must be done with an idea to make the world a better place for everyone to live, humans are packed by emotions and not reasons. (brandingstrategyinsider.com, 2020)
Businesses generally run based on VUCA set up:
V- Volatile, U- Uncertain, C-Complex and A- Ambiguous
This is because business people treat customers as money givers and without any emotions. But Kevin Roberts explains the world as a Super VUCA world with:
V- Vibrant, U- Unreal, C- Crazy and A- Astounding
Businesses are based on ideas which does not have settled definitions. They are just vibrant opportunities to explore and sometimes unreal without knowing it’s actual reason for existence. Every brand comes out from an idea that is crazy without any limits and becomes astounding when it is given a shape with people’s emotions.
Kevin Robert explains that Brands becomes a hit when customers becomes “us” instead of “them”. Advertising is the soul of any brand. If the advertisements can tell a story that can easily connect with human...
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