Complex And Competitive Business: MRKT20052

Complex And Competitive Business: MRKT20052

MRKT20052 Marketing Management And Digital Communications

Questions:

Includes aims of the assessment, background information of the company and the product or service chosen.

Specifically, you will be assessed on the following aspects:

a) Organisation analysis – what does it stand for?

b) Industry definition

Situation analysis: includes a description of the potential customers (i.e. market size, buying behaviour, etc.), analysis of the competitors and evaluation of the context (i.e. environmental analysis including political, economic, societal, technological and legal aspects). Specifically, you will be assessed on the following aspects:

a) Macro force analysis

b) Customer analysis

c) Competitor analysis

d) Other stakeholder analysis

e) SWOT analysis

f) Problem and opportunity statement

Discussion of the segmentation, targeting and positioning approach: a discussion on the potential customer segments for your product or service and which one(s) you wish to target with good justifications. Also, discuss the desired positioning for the product or service. Develop a clear positioning statement. Specifically, you will be assessed on the following aspects:

a) Problem statement

b) Discussion of potential market segment

c) Discussion of target market and positioning

Set 3 marketing and 3 financial objectives: provide realistic marketing and financial objectives. Specifically, you will be assessed on the following aspects:

a) Marketing objectives and goals

b) Financial objectives and goals

Formulation of a detailed marketing mix strategy (10 marks): should cover specifics of the product, price, promotion and place aspects. Specifically, you will be assessed on the following aspects:

a) Marketing mix – how are they to be applied?

b) Marketing strategy proposed implementation

Answers

Other Stakeholder Analysis

The corporation has different stakeholders namely 

shareholders, 

employees, 

government, 

diverse consumers as well as 

Media (Goworek  & McGoldrick, 2015).

Stakeholders are the primary assets of the corporation and therefore comprehending the expectations is extremely important. The corporation has undertaken sufficient market research that has again helped in the process of  evaluating different expectations of firm’s customers. The firm  has of late invested profusely for the purpose of offering specialised service through the online channels. Also, the corporation has enhanced its optimism regarding retail sales through the introduction of online shopping platform. 

Employees also play a vital role in the process of attainment of success of the corporation. Wesfarmers provides on-job training to their employees for enhancement of their professional skills as well as competencies. The firm also provide work for a diverse workforce that permits them to hire individuals from diverse ethnic groups, namely Aboriginal Island as well as Torres Strait Island among many others.

Management of the firm Wesfarmers also has an effectual communication stratagem that can aid them in the process of communicating stratagems or else achievements to their stakeholders. So, the firm prepares as well as presents annual along with half-yearly pronouncements via Australian Stock Exchange. 

Problem Statement: The primary problems of Wesfarmers Limited are non-performance of some of the segments of the business that are not equally profitable. In addition to this, experience is necessarily restricted to the nation Australia and this implies low geographic presence (Kotler, 2015).

Opportunity Statement: The business has the opportunity to expand outside the nation Australia and boost the overall growth potential. Furthermore, the company also develops overall quality, experience as well as service benchmarks across various stores for enhancement of productivity. Also, employee as well as customer loyalty initiatives across diverse businesses is also an opportunity for the company to exploit. 

Conclusion and Reference

In the end, it can be said that the study at hand helps in understanding the background of the company Wesfarmers, the product/service it serves and the industry in which it operates. The macro force analysis aids in understanding the environment in which the business thrives using PEST framework. The situation analysis also explicates in detail about customers, competitors as well as stakeholders of the firm. Thereafter, the study critically presents the SWOT analysis and concludes the opportunities and the problems currently facing the firm. Based on the study, it can be said that the management of the firm cam work towards expansion of the business for acquiring more market space and closely monitor all the non-performing segments of the business for optimization of growth potential.

References

Kotler, P. (2015). Framework for marketing management. Pearson Education India.

Goworek, H., & McGoldrick, P. (2015). Retail marketing management: Principles and practice. Pearson Higher Ed.

Chernev, A. (2018). Strategic marketing management. Cerebellum Press.

Weinstein, A., & Pohlman, R. A. (2015). Customer value: a new paradigm for marketing management. In Proceedings of the 1997 Academy of Marketing Science (AMS) Annual Conference (pp. 132-133). Springer, Cham.

Wesfarmers.com.au.(2018). Sustainability.wesfarmers.com.au. Retrieved 11 April 2018, from https://sustainability.wesfarmers.com.au/

Get assignment help from PhD stalwarts and get rid of academic troubles without hassle. Whether you need physics assignment help or CDR writers in Australia, we are here at your disposal. Give us a call if you need help with an assignment, whether you are in school or college. Now you don’t have to request your friends, “I can’t do my assignment. Please help.” Just hire our highly qualified and experienced assignment writers. You can also connect with us on our live chat portal. Just type ‘Who can do my assignment for me?’ We will get back to you right away. 

MRKT20052 Marketing Management And Digital Communications

Answer in Detail


Solved by qualified expert

Get Access to This Answer

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Hac habitasse platea dictumst vestibulum rhoncus est pellentesque. Amet dictum sit amet justo donec enim diam vulputate ut. Neque convallis a cras semper auctor neque vitae. Elit at imperdiet dui accumsan. Nisl condimentum id venenatis a condimentum vitae sapien pellentesque. Imperdiet massa tincidunt nunc pulvinar sapien et ligula. Malesuada fames ac turpis egestas maecenas pharetra convallis posuere. Et ultrices neque ornare aenean euismod. Suscipit tellus mauris a diam maecenas sed enim. Potenti nullam ac tortor vitae purus faucibus ornare. Morbi tristique senectus et netus et malesuada. Morbi tristique senectus et netus et malesuada. Tellus pellentesque eu tincidunt tortor aliquam. Sit amet purus gravida quis blandit. Nec feugiat in fermentum posuere urna. Vel orci porta non pulvinar neque laoreet suspendisse interdum. Ultricies tristique nulla aliquet enim tortor at auctor urna. Orci sagittis eu volutpat odio facilisis mauris sit amet.

Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Hac habitasse platea dictumst vestibulum rhoncus est pellentesque. Amet dictum sit amet justo donec enim diam vulputate ut. Neque convallis a cras semper auctor neque vitae. Elit at imperdiet dui accumsan. Nisl condimentum id venenatis a condimentum vitae sapien pellentesque. Imperdiet massa tincidunt nunc pulvinar sapien et ligula. Malesuada fames ac turpis egestas maecenas pharetra convallis posuere. Et ultrices neque ornare aenean euismod. Suscipit tellus mauris a diam maecenas sed enim. Potenti nullam ac tortor vitae purus faucibus ornare. Morbi tristique senectus et netus et malesuada. Morbi tristique senectus et netus et malesuada. Tellus pellentesque eu tincidunt tortor aliquam. Sit amet purus gravida quis blandit. Nec feugiat in fermentum posuere urna. Vel orci porta non pulvinar neque laoreet suspendisse interdum. Ultricies tristique nulla aliquet enim tortor at auctor urna. Orci sagittis eu volutpat odio facilisis mauris sit amet.

Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Hac habitasse platea dictumst vestibulum rhoncus est pellentesque. Amet dictum sit amet justo donec enim diam vulputate ut. Neque convallis a cras semper auctor neque vitae. Elit at imperdiet dui accumsan. Nisl condimentum id venenatis a condimentum vitae sapien pellentesque. Imperdiet massa tincidunt nunc pulvinar sapien et ligula. Malesuada fames ac turpis egestas maecenas pharetra convallis posuere. Et ultrices neque ornare aenean euismod. Suscipit tellus mauris a diam maecenas sed enim. Potenti nullam ac tortor vitae purus faucibus ornare. Morbi tristique senectus et netus et malesuada. Morbi tristique senectus et netus et malesuada. Tellus pellentesque eu tincidunt tortor aliquam. Sit amet purus gravida quis blandit. Nec feugiat in fermentum posuere urna. Vel orci porta non pulvinar neque laoreet suspendisse interdum. Ultricies tristique nulla aliquet enim tortor at auctor urna. Orci sagittis eu volutpat odio facilisis mauris sit amet.

Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.

QUALITY: 100% ORIGINAL PAPER – NO PLAGIARISM – CUSTOM PAPER
error: Content is protected !!