Task
There are many ways in which marketing managers decide on a particular strategy. The first step though is to make sense of the industry, market and business environment in which they operate.
Select an industry, market and business environment your organisation operates in, or one in which you would like to start a business or be employed in. (Australian company only)
Review your first four week of lecture notes;
Week 1: What is strategic marketing, how has marketing evolved?
Week 2: Why is marketing Important. The driving force: Vision/mission /values. Marketing in the contemporary environment and CSR.
Week 3: The external world: Market Environment.
Week 4: The external world: Competitors & customers
And then select from the readings one reading you think supplies useful insights into the analysis of your external environment and one which you think does not really apply to your situation. Explain why this is the case with examples from your market, industry and business environment
“Please Note: require extensive secondary research.”
Rationale
This assessment asks you to critically evaluate expert and academic advice on how to plan a business, by first understanding the business environment. This assessment is to engage you in the subject and to ensure your progress and understanding of central issues.
• be able to devise marketing strategies to achieve organisational objectives using a range of strategic assessment tools and informational resources and through appreciation of dynamic external environments
Marking criteria
Criteria HD: 100-85% DI: 84-75% CR: 74-65% PS: 64-50% FL: 49-0%
Referenced industry, market and business environment examples Comprehensive/detailed knowledge of topic with areas of specialisation is depth and awareness of provisional nature of knowledge Reasonable knowledge of topic and an awareness of a variety of ideas/contexts/frame-works Has given a factual and/or conceptual knowledge base and appropriate terminology Evidence of limited knowledge of topic and some use of appropriate terminology Lacks evidence of knowledge relevant to the topic and/or significantly misuses terminology
Critical evaluation of strategic thinking tools Consistently demonstrates application of critical analysis well integrated in the text Clear application of theory through critical analysis/critical thought of the topic area Demonstrates application of theory through critical analysis of the topic area Some evidence of critical thought/critical analysis and rationale for work Lacks critical thought
/analysis/ reference to theory
Clarity of written expression (well structured and logical flow of ideas). Shows a polished and imaginative approach to the topic Carefully and logically organised Shows organisation and coherence Shows some attempt to organise in a logical manner Disorganised/ incoherent
Professional presentation Fluent writing style appropriate to document. Grammar and spelling accurate. Language fluent
Grammar and spelling accurate Language mainly fluent Grammar and spelling mainly accurate Meaning apparent, but language not always fluent Grammar and/or spelling contain errors Meaning unclear and/or grammar and/or spelling contain frequent errors
APA 6th Referencing (In-text and in the reference list). Referencing is consistently accurate Referencing is mainly accurate Referencing is mainly accurate Some attempt at referencing Referencing is absent/ unsystematic
You should include at least 7 references in your report (academic and industry reports).
The use of WIKIPEDIA online encyclopaedia and general online reference sites is not allowed because of the anonymous authors.
Requirements
Develop a 1000 word report on what is a useful and not useful strategic tool for your industry. The assignment is asking you to critically evaluate approaches taken to business analysis. You must supply examples of why and why not each tool is appropriate for you.
These examples should come from the industry you operate in, or would like to be employed in. Note: it is really important skill for you to develop in your career to make judgments about what is a sensible means of making decisions about marketing strategy choices.
