Description
Assignment: Reflection Paper
This assignment will assess the following competency: 4. Demonstrate the ability to exhibit sound marketing decision-making.
Directions
Based on the learning experience in this course along with the new marketing knowledge that you have acquired discuss in 300 - 400 words how you can use these practices to improve the marketing effectiveness in your current organization. Discuss how you can forge a long-term marketing strategy in your organization. How can the establishment of effective workgroups assist you here?
These are the topics learnt: some of them can be used for this assignment.
- Marketing strategy : why is Marketing Management important
- Customer behavior
- Segmentation: market segment; demographic, geographic, psychological, behavior, B2B
- How do marketer segment the market
- Product positioning
- Positioning via price, and promotion
- Positioning: Assessment through the customer lens
- Targeting: what is targeting, and do marketers do it
- Sizing market
- Products: Goods and services
- Brands. What is a brand, what are branding strategies
- New product, why are new product important, how does Marketing develop new product for their customers
- What is the product life cycle?
- Pricing; why is pricing so important, low prices, high prices
- Customer and psychology of pricing
- Channel of distribution and logistics
- Advertising messages and marketing communication, what is advertising, why is it important, what market goals are sought from advertising campaigns, designing advertsising messages to meet marketing and corporate goals
- Integrated marketing communication and media choices
- Social media
- Customer satisfaction and customer relationship
- Marketing strategy
- Marketing research tools
- Marketing plans.
Explanation & Answer
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