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Marketing Audit & Plan

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Your Task

For this module, you will complete a two-part assessment.

Part One: Marketing Audit

  • Review the marketing situation of an existing organization, product or service. Making explicit reference to appropriate marketing theory, write a marketing audit on this company.

Notes

  • It is very important that you focus on a specific aspect of your organization: for example, a specific service offered or product offered, rather than carrying out a general overview.
  • As you consider the topic of your audit, please visit the Final Assessment Questions discussion forum to discuss your selection with your tutor.

Part Two: Marketing Plan

  • Consider the strategic orientation of your company. Based on the theories that have been discussed during the module,identify several key strategies that your organization should take and write a marketing plan.
  • The marketing plan should be between 1200-1500 words.

Journal Articles

In this assignment you need to use at least 15 new peer reviewed journal articles. “New” means new to you. Articles that you have been given as part of the reading lists are excluded. But you may still want to use those, so you use those in addition to the 15 new ones. There is a list on canvas of useful journals and in the slides from connect 6 there is a list of useful databases. Remember to use the Harvard Referencing format.

Word Count:

Part 1 – 1500

Part 2 – 1200

+/- 10%

Any tables/ graphs etc. are excluded from the word count (we are marketing – we like tables/ graphs/pictures/ diagrams etc.!).

In text references are INCLUDED e.g. Jones (1992) argues that…..

The reference list at the end of the assignment is excluded.

The appendices are excluded.

Plagiarism

The University has an interactive plagiarism course, which will take you through all aspects of plagiarism, from defining the concept, to how to acknowledge the work of others. Quizzes, exercises and FAQs will ensure you are fully aware of the key issues.

To find out more, visit: https://intranet.birmingham.ac.uk/as/studentservices/conduct/plagiarism/index.aspx or watch https://www.youtube.com/watch?v=1XBZd-Cexzs

Harvard Referencing

The Harvard Referencing System must be used. Information is available at:

Intranet.birmingham.ac.uk/icite

Part 1: Marketing Audit:

What does a marketing audit mean? A marketing audit is an analysis of “how is the organisation doing in the marketplace?” You need to analyse the internal and external marketing environment of the company.

Therefore, what you need to establish is how is your organisation doing/ what are they doing/ who are their competitors? etc.

You must analyse these 4 areas:

  1. Current SBU Mission statement –what is their mission statement? What is the purpose of the company? The mission statement should identify who their customers are and how value (and the products/ services) should be provided to the customers.
  2. Financial performance – how well is the organisation performing financially? You will need to do some research here e.g. looking at company annual reports. We would only expect you to have access to publicly available data.
  3. Market Overview – Who are their main competitors? Thinks about P (from STP).
  4. SWOT analysis of major products/services/markets – good opportunity for a diagram/ table here but make sure that you explain your points in a discussion as well.

Your discussion may include reference to the following areas:

  • Strategic Issues Analysis
    • Existing Marketing Strategy
    • Market overview
  • Marketing Objectives
    • STP: Competitive Advantage
  • Core Competences
    • Brand
    • Positioning
  • Marketing Mix Effectiveness
    • Product
    • Price
    • Promotion
    • Place
    • People
    • Process
    • Physical Evidence
    • Marketing Structures
  • Marketing Organisation
    • Marketing Information
    • Marketing Planning
    • Marketing Control
    • Managing Marketing Relationships
  • Operating Results
    • Product
    • Customer,Geography
    • Sales Revenue
    • Market Share
    • Profit Margins

Costs

You cannot look at all of these points. It is not possible within the word count. Select 2 or 3 of these that you think are critical for your organisation. Argue why they are important to your organisation e.g. place and brand.

Part 2: Marketing Plan

In this section you need to make some recommendations for your company based on the theory that you will have learnt during this module.

Do not write a marketing plan as in a structured plan e.g. from Kotler, but rather you should suggest some new strategies for the organisation. Is this section you should limit the suggestions to no more than 4 as you need to explain each point in-depth using your supporting evidence. You can find ideas from the module content, video links, theory, TED talks or journal articles. But you must make sure that you support your suggestions using theory.

Suggested Structure

Introduction

Offer a brief introduction to the company and the assignment. Be very clear what you will be discussing (and make sure that you do – do this). For example, you may wish to talk about a specific brand that the organisation owns. If you were using LVMH you may just wish to discuss Haute Couture Dior Fashion.Here, you want to start building your narrative. There should be a logical flow to the assignment.

(If your company is very obscure you can add some additional information into the appendices).

Marketing Audit

Offer a few sentences as to what a marketing audit is (remember references).

It is quite okay to use subheadings.

Current SBU Mission statement

Introduce what a mission statement is, why they are used etc.

Include the actual mission statement.

Now discuss the mission statement using evidence and theory.

(NB: the holding text is not used to specify the suggested length of discussion. Any charts/ tables/ graphs are also just place markers.)

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Financial performance reports

Introduce financial reporting.

Select the most appropriate data.

Tables/ graphs are good to use here.

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Market Overview

Here you should discuss the market that company operates in. Areas to consider are market orientation, market growth (historical and projections), market coverage etc.

Also tables/ graphs would be useful here.

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SWOT analysis of major products/services/markets

Ensure that you discuss a couple of points from each S/W/O/T. You may create a table with more points in, but make sure that you discuss the most important and in the discussion do not duplicate the arguments made in the table, expand them.

(www.coneptdraw.com – this is not a good or recommended SWOT analysis – this is just a place holding image)

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For this example, I am using place and brand as the 2 additional factors that are critical to my organisation. You may select any from the list above.

Firstly, discuss why place and brand are the most relevant. Then discuss each factor individually.

Place

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Brand

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(www.12image.com)

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Summary

Draw the discussion of the marketing audit to a close. Offer a brief summary of approximately 100words.

Marketing Plan

Introduce your ideas, how have you identified that these are the most appropriate strategies for your company? You may wish to link back to some of the points raised above e.g. threats or opportunities from the SWOT.

In this example I have decided that the company need to further define their brand personality, use retailtainment to enhance their in-store offering and focus on Instagram as a key social media communication channel.

Brand Personality

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Retailtainment

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(These pictures are of Harrods).

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Social Media Channels

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Conclusion

Draw the assignment to a close and conclude both parts.

Reference List

Remember to use Harvard Referencing

Appendices

In here should be any additional information/ pictures etc.

Grading Criteria

 

Understanding Demonstrated of the Chosen Company: 10% The assignment should demonstrate a good understanding of how the company operates and how the company uses the environment to enhance and deliver the service experience and affect customer behaviour. You should clearly demonstrate an understanding of the service that is being delivered.
Marketing Audit: 40% You should demonstrate a good understating of your organisation’s product or service. You should include reference to the following areas: the current SBU mission statement; financial performance of your company; a market overview; a SWOT analysis. This section should not be descriptive but provide a critical analysis of the key issues.
Marketing Plan: 25% This section should identify the logical diversification of expansion strategies for your chosen organisation.
Use of Literature and Theory: 20% Understanding and using academic literature is a key part of the assessment. At least 15 academic peer-reviewed journal articles should be used throughout the assessment. You will need to use some of the articles from the reading list, so the 15 should be in addition to these.
Structure and Layout: 5% The assignment should be presented using the categories as listed on the coursework handout. The use of graphics/ tables etc. is encouraged to support your analysis. Remember that these must be referenced.

Please provide some topic for the audit, I need to get approval from the instructor in order to use that in my assignment. Please wait until I have permission from my instructor to start working on this assignment, thanks!

As it’s required to use some academic peer-reviewed journal articles, I’ll provide a couple of article use in the class. It’s also required to use 15 more journal article other than the provided ones.

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