Reference no: EM131138828
Instructions:
- To be prepared on an individual basis.
- Must provide detailed answer for every question along with relevant examples.
- There is no word limit, but answer for every question should be reasonable in size, preferably ½ a page.
The Trainer/Assessor may further prompt and question in order to receive answers of appropriate quality and verify the authenticity of the submitted answers
Question 1. Marketing objectives to address corporate strategic objectives
a). What were your corporate objectives for your business for the coming financial year, starting 1/7/15?
b). Identify 2 marketing objectives that you have for the year ahead and explain how they will contribute to your corporate strategic objectives.
c). Identify 3 marketing strategies that you have and explain why you chose these strategies to achieve your marketing objectives for the year. eg if one of your marketing objectives was to increase brand awareness (from an estimate of 15% of target consumers to 20%), explain why you chose to advertise by guerrilla marketing strategies (street art near the train station at North Sydney in peak times of pedestrian traffic) rather than by handing out flyers at the station (at these times).
Question 2. When you were working on your marketing strategies and the marketing plan's marketing mix, did you identify any deficiencies/ gaps in your present capabilities?
These deficiencies/ gaps could be inadequate:
a). What were they?
b). How can you fill these deficiencies/ gaps over the next 12 months?
c). What budget will realistically need to be allocated to this acquisition of extra capabilities?
Question 3. Choose 2 elements (tactics) that you will employ in your marketing plan to achieve some of your marketing objectives.
a). Give some details about the scheduling, costing, accountabilities and persons responsible for these elements.
b). Is the forecast cost of these elements reasonable and appropriate within the entire marketing budget for the year? (Justify them in terms of expected results)
c). Who will monitor the implementation of, and grade the success of, the scheduled activities (in terms of results and cost relative to budgeted cost) and how often will they report their results to their owners/ most senior managers?
Can marketing targets be adjusted if necessary?
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