MKT631 Marketing For The Future Economy Assignment Sample SUSS Singapore

Marketing for the Future Economy provides students with a holistic understanding of marketing management principles that are needed in today’s business world. The course covers key decision-making processes and topics selected based on strategic needs, helping them better understand how to formulate successful campaigns while implementing controls so they can be controlled effectively too. Students will also be equipped with the skills and knowledge to work in an international context, as well as understand how to research and analyze marketing data.

This course is designed to provide students with a solid foundation in marketing management principles that are relevant in today’s business world. The course covers key decision-making processes and topics selected based on strategic needs, helping students understand how to formulate successful campaigns while implementing controls so they can be controlled effectively. Students will also be equipped with the skills and knowledge to work in an international context, as well as understand how to research and analyze marketing data.

To be successful in the modern world, it’s important to understand how consumers make decisions and act within a digitally networked environment. The market has changed drastically since companies first began marketing products via television commercials or print advertisements – now every individual can take their actions towards whatever they want from anywhere at any time without relying on any type of advertisement whatsoever.

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Assignment Brief 1: Evaluate the role of marketing in developing successful business strategies

Marketing is essential for developing successful business strategies. Without effective marketing, a business will not be able to reach its target consumers and will likely fail.

Marketing is the process of creating awareness and interest in a product or service. It involves creating messages that appeal to consumers and persuading them to buy the product or service. Marketing must be strategic to be effective. It must target the right audience and use the right channels to reach them.

Marketing is critical for businesses of all sizes. Small businesses may not have the resources to invest in traditional marketing methods such as advertising, PR, and events. However, many online marketing tools are affordable and can be very effective. Online marketing includes search engine optimization (SEO), content marketing, social media marketing, and email marketing.

An effective marketing strategy will help a business to stand out from its competitors. It will also make the most of the resources available to the business. Marketing must be constantly evolving to keep up with the changing needs of consumers. By understanding the role of marketing in developing successful business strategies, businesses can stay ahead of the competition and continue to grow.

Assignment Brief 2: Assess market opportunities

There are several factors you need to consider when assessing market opportunities. Here are some key things to keep in mind:

1. First, you need to understand the needs and wants of your target market. What are they looking for? What are their pain points? Knowing this information will help you develop a product or service that meets their needs and resonates with them on an emotional level.
2. You also need to have a clear understanding of your competition. Who are they? What are they offering? How are they positioning themselves in the market? This information will help you determine your unique selling proposition and navigate the marketplace in a way that sets you apart from the competition.
3. It’s also important to understand the overall trends in the marketplace. What are consumers interested in right now? What are the hot button issues? Again, this information will help you develop a product or service that meets the needs of the market and resonates with them on an emotional level.
4. Finally, you need to have a clear understanding of your capabilities. What can you realistically achieve? What resources do you have available to you? This information will help you set realistic goals and expectations for your business.

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Assignment Brief 3: Compare consumer and organisational markets and buyer behaviour

Organisational buyers and consumers both purchase goods and services for personal or business use. Consumer markets are exchange relationships between buyers and sellers of goods and services for personal consumption, while organizational markets are exchange relationships between organizations that buy goods and services for use in the production process or resale (B2B).

Organizational buying is usually much more complex than consumer buying because there are often multiple stakeholders involved in the decision-making process, each with its objectives. For example, a company may need to purchase a new fleet of vehicles. The purchasing manager will be concerned with getting the best price, while the finance director will be focused on ensuring that the purchase is within budget.

 There are several key differences between consumer and organizational markets:

1. The number of buyers and sellers: Consumer markets usually have many more buyers than sellers, while the reverse is true for organizational markets.
2. The types of products and services bought: Organizational buyers tend to purchase more complex products and services than consumers.

Assignment Brief 4: Evaluate and propose marketing mix decisions

To evaluate and propose marketing mix decisions, you first need to understand the different components of the marketing mix. The four main components of the marketing mix are product, price, place, and promotion.

Product refers to the good or service that is being marketed. Price is how much customers will pay for the product. Place refers to where customers can buy the product. Promotion refers to how the company communicates with its customers about the product.

To propose marketing mix decisions, you need to understand what each component means for your business and then make a decision based on that knowledge. For example, if you are a small business with a limited budget, you may want to focus on increasing your promotional efforts rather than lowering your prices.

Once you have a good understanding of the marketing mix, you can start to make decisions about which marketing mix is right for your business. Remember, there is no one-size-fits-all solution – each business is unique and so the marketing mix that works for one company might not work for another. The best way to find out is to experiment and see what works best for your business.

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Assignment Brief 5: Design strategic marketing programmes for selected situations

When designing a strategic marketing programme, you need to take into account the company’s goals, the target market, and the competition.

First, you need to identify the company’s goals. Are they trying to increase market share, grow their customer base, or become more profitable? Once you know their goals, you can develop a strategy that will help them achieve them.

Next, you need to determine your target market. Who are your ideal customers? What needs or desires do they have that your product or service can meet? Once you know who your target market is, you can create messaging and a marketing plan that will resonate with them.

Finally, you need to look at the competition and see what they’re doing well and where they’re falling short. Use this information to position your company as the best option for your target market.

By taking into account all of these factors, you can develop a strategic marketing programme that will help your company achieve its goals.

Assignment Brief 6: Organise and plan effective implementation and control of marketing programmes

Marketing programmes need to be well-planned and effectively implemented to achieve the desired results. Control is essential to ensure that the programme remains on track and achieves the goals that have been set.

One important factor in effective marketing is setting clear objectives and measuring progress towards them. This allows for course correction if necessary. It’s also important to have a good understanding of the target audience so that the marketing messages are relevant and resonate with them.

Marketing campaigns also need to be consistent with the overall branding and messaging of the company. The tone and style should be consistent across all channels, from online ads to print collateral to social media posts. Consistency will help create a recognisable brand identity which will help customers remember the company and what it stands for.

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