Unit 41 Contemporary Issues in Marketing Management

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Unit 41 Contemporary Issues in Marketing Management

LO1 Understand the importance of relationship marketing in a contemporary business context

1.1 explain the concept of knowledge management and its role in relationship marketing

[Knowledge management: the growing importance of knowledge management as a key tool in gaining and sustaining competitive advantage, analytical CRM

Course 733N1 – Accounting for Decision Makers

Marketing evolution: from production, transactions, consumer relationship marketing (CRM) ethos, internal and external relationships, supply chain relationships, increasing importance of customer retention rather than acquisition, value chain analysis]

1.2 explain the ways that ICT can support the customer relationship management process in a particular organisation

IT requirements in relationship marketing: range of ICT tools, loyalty cards, research capabilities, production online, access to customers; monitoring and controlling projects and marketing plans, IT used in planning, scheduling and resourcing activities within the plan

IT Ethics

Benefits of relationship marketing: maximising customer equity, lifetime value of customer, competitive environment, how the marketing mix supports relationships – brand recognition – reference groups – consumer behaviours in relation to corporate identity; issues of credibility, trust and commitment in relationships with stakeholders

1.3 describe the benefits of customer relationship management in a selected organisation

CRM: grown out of relationship marketing approach, what CRM systems can do, limitations and possibilities, integration with traditional methods, maximising value for customer and organisation, how internet and digital technologies can be used to enhance communications and relationships within channels and between B2B partners, increasing social CRM, use of social media e.g. YouTube, Twitter

1.4 make justified recommendations for the improvement in customer relationship management for a selected organisation

 

LO2 Understand the role of marketing in non-traditional contexts

2.1 carry out a stakeholder analysis for a voluntary sector and a public sector organisation

Public sector: importance of growth of marketing concepts in the public sector, mix of private, voluntary and public sector activity, public sector objectives, marketing as satisfaction of customer needs at maximum levels of efficiency, criticisms of marketing in public sector e.g. expense of branding initiatives, use of resources

Voluntary sector: types of voluntary sector organisations, role of marketing – customers, donors and beneficiaries of voluntary sector organisations; budgeting and performance in voluntary sector organisations, use of different marketing techniques e.g. direct methods, intervention marketing, virtual marketing

Unit 11 – The Role of Public Health in Health & Social Care

2.2 describe the nature of the relationships with customers within two selected not-for-profit organisations

Customer identification: the nature of relationships with customers in not-for-profit organisations, nature of message and methods of communication, customer benefit and recognition, stakeholders in not-for-profit organisations, prioritising stakeholder needs e.g. power/interest grid

2.3 compare methods used in marketing within the public, private and voluntary sectors

2.4 explain the key issues involved in marketing in a selected virtual organisation

Virtual organisations: the importance of the e-commerce revolution, online purchasing and production, particular aspects of relationships with customers in virtual organisations, e-marketing mix, trends in virtual/real mix of activities

LO3 Understand the importance of applying the extended marketing mix in the service sector

3.1 describe the use of the extended marketing mix in a selected service sector business

Extended marketing mix: people, processes, physical evidence; the development of services management and marketing as a separate discipline

3.2 explain how the product/service mix can be used to enhance value for the customer and organisation

Service/product mix: nature of services as intangibles, services as added value to product mix, services within relationship marketing, service sector growth, increasing importance of services in developed economies, globalisation of services provision

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3.3 explain how difficulties peculiar to the marketing of services can be overcome with reference to a particular organisation

Managing the quality of services provision: customer perceptions of quality, measurement of customer satisfaction levels, importance of customer retention

3.4 explain the role of IT in services marketing management in a selected organisation

Role of ICT: how ICT can be used to manage the process of marketing in the services industry e.g. customer databases, capacity analysis, dynamic pricing, internal marketing research

LO4 Understand the reasons for the increasing emphasis on ethics and social responsibility in marketing

4.1 explain some of the current issues of ethical and social concern to marketers in a particular industry

Ethical considerationsbusiness ethics, globalisation, international marketing ethics, pressure group activity, environmental/ecological issues, international protocols, sustainable marketing; ethics and responsibility in marketing research

4.2 explain the concept of CSR with reference to a particular organisation

Corporate social responsibility (CSR): corporate reputation, economic, legal, ethical and philanthropic social responsibilities; impact on brand reputation

4.3 evaluate the role played by a selected pressure group in influencing ethical and social marketing policies for a selected organisation

MPM732: Critical thinking – Assignment 1

4.4 evaluate the role played by published or broadcast media in influencing ethical and social marketing policies for a selected organisation

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