HI5004 Marketing Management Assignment
Task:
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 behavior 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
The questions to be answered are:
Question 1:
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.
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.
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.
Question 3:
- 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
Question 4:
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. Define the term “target market”, and suggest a potential target market for new ‘Amazing Thai”noodle.
Question 5
What is Zara’s product strategy?
How did Zara take over the industry using “fast fashion”?
Answer the question in and you must use the information from the video to support your discussion
