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MKT4A2 Assessment Answers

MKT4A2 assessment answers will cover materials and theories on practice viewpoints and use of various strategies in business. It is expected that MKT4A2 assessment answers will increase students understanding of various marketing management principles. Marketing management is the assessment of the quantity and quality of the distribution, promotion and positioning of goods and services in the society. Managers can identify put great efforts with the help of the following effective marketing management principles:

• The principle of mutual advantage

• The principle of strategic orientation

• The principle of individualization of demand

• The principle of integration marketing

The principle of mutual advantage implies equally the interest of producers and consumers of goods. The long term success of the company will depend on the satisfaction of the consumers as well as those who have interest in the company. Company managers should engage in strategies to develop partnership with their consumers and ensure creation of new products and services. The principle of strategic orientation consists of strategic objective marketing analysis. It proposes justification of the attractive segment for the growth, size and intensity of competition. Marketing management evaluates the reliability of the marketing strategies and developing positive public opinions.

Effective management depends on the shifting of needs and preference of consumers. The common goal of marketing management is to engage in marketing research, brand awareness, assessment of environmental threat and utilization of new opportunities. The importance of enrolling in a marketing plan is to adhere to the principles of marketing management and improve the chances of success for any organization. There is a need for the development of the understanding of the proposed market. The managers should be able to define the different marketing segments and develop suitable strategies for targeting different segments.

The managers should be able to identify external factors in the market place. It helps in the quantification of marketing size and pressures. The understanding of the external environment depends on tools such as PESTEL analysis or SWOT tools. PESTEL analysis is the evaluation of the political, economic, socioeconomic, technological, legal and environmental factors in any organization. In addition, SWOT analysis defines a company’s strength, weakness, opportunities and strengths. The opportunities should be identified through the evaluation of the external environment. The strength and weakness depends on the MKT4A2 of internal capacities and capabilities.

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Unit Details of MKT4A2 Assignment

University: Regent University, United States

Study level: Graduate

Code: MKT4A2

Brief of MKT4A2 Assessment

The MKT4A2 assignment answers have been designed to test student’s understanding of key learning outcomes which are as follows:

• Knowledge and understanding of the role of marketing in the organization

• Sound knowledge about the key concepts and principles in the evaluation of organization and its environment

• Interpretation of the elements of organizational management and leadership, marketing and innovation within a global context

• Student will develop the skills to collect, compare and synthesize information from different sources

• Students should demonstrate decision making abilities by selecting the best options from a range of criteria

Marketing planning depends on the understanding of the marketing as a foundation and use of data to identify target markets, the client demographics and the SMART objectives. The use of the seven P’s support in setting up the marketing plan which are product, place, price, packaging, promotion and positioning. The marketing plan will have an impact on defined a balanced business proposition.

The next stage of the marketing plan is the implementation phase. It involves engaging in different team members in the organization. The progress in the organization will depend on understanding the objective and collecting feedback from customers. With the application of effective marketing principles, a small business can gain competitive advantage in the market place. This understanding can also help managers to identify consumer needs and evaluate different aspects of the organizational goals. The understanding of the marketing principles can help to generate revenue for the company too. The performance of the activities will depend on the generation of adequate revenue and supporting merchandising function. Marketing is useful in maintaining a suitable marketing information system too and controlling marketing activities.

With an increase in interest for innovation and change, there is a need for customers to go on changing the situation overtime. A successful business man is the one who can work beyond everyone’s expectation and adapt to the situations. They can also develop innovative strategies and process. Marketing managers support organizations in providing products and services too. It is useful in the smooth functioning of the organization. Business managers should be able to adapt to the business environment and preference of consumers. Therefore, it leads them towards the adaptation of the patient’s needs. Thus, with the above understanding and the principles, the students will be able to effectively complete the assessment process. It is important the students enrolled in the course follow all the course lessons and utilize management tools to aid decision making process. In such cases, it is important that marketing management can ensure customer satisfaction process and enhancing the purchasing decisions. The managers can react with changes in prices and other factors.

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What is The Weightage of This MKT4A2 Course Code in Their Semester?

The MKT4A2 assignment answers will cover two types of assessments-namely formative assessments and summative assessment. The knowledge and competency in the subject will be tested through formative and summative assessments. The formative assessments will be completed between week 7-8 and week 20 to 21. The first part will be a debriefing where students will be asked to prepared a draft of the first assignment and choose appropriate business organization to complete the summative assessment. After this, a group debriefing activity will be completed where students will work in group to discuss their topic and offer input and feedbacks. The second of the debriefing will be to prepare a presentation draft regarding the suitability of any chosen company in the summative assessment process. The report will look at ways to monitor progress and discuss strategies for the group presentation. This part of the assessment will have a weightage of 75%. The structure of the assignment can be done based on instructions given.

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