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
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
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
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 considerations: business 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
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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