Manage the Marketing Process

Manage the Marketing
Process
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Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
TASK 1.......................................................................................................................................3
TASK 2.......................................................................................................................................7
TASK 3.....................................................................................................................................14
TASK 4.....................................................................................................................................19
CONCLUSION..............................................................................................................................22
REFERENCES..............................................................................................................................23
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INTRODUCTION
Marketing process can be describe as the set of activities that is required to successfully
complete marketing activities (Armstrong and et.al., 2018). It includes a proper procedure which
complies analysis of market, identifying opportunities, researching about target market and
potential customers. In marketing process effective and strong marketing strategies are
developed in order to target the selected audience in appropriate manner. It is crucial to manage
marketing plan in correct manner so that desired goals and objective of company could be
achieved. Marketing management process needs to be controlled and managed accurately in
order to enhance sales and profitability of business. This report is based on Natural care company
which is based in Brisbane, Queensland Australia. This company is providing high quality eco-
friendly skin care products. Nature Care organisation was developed in 2011 with the motive of
enhance the demand of eco-friendly beauty skin care products. Goods of this company is
developed with natural ingredients as well as emphasis on packaging by environment friendly
materials. This report includes various elements that helps in managing marketing process. It
consist of various written questions in task one. In next task management of marketing
performance project has been conducted accurately. Task 3 consist of different steps for
managing marketing staff. Apart from this Task 4 consist of evaluation of marketing
performance project.
MAIN BODY
TASK 1
1. Explain three common strategic marketing objectives
Strategic marketing objectives could be define as the goals that is set by company while
promoting its products and services in potential market area (McDonald and Wilson, 2016). This
strategy includes all those elements that should be timely achieve with in set time frame. It is
important to set appropriate strategic marketing objectives in order to enhance overall
performance of employees. Three common strategic marketing objectives are mention below.
 To increase sales of company by providing high quality products and services.
 To enhance the brand image of organisation by developing strong relationship with
customers.
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 To grow and develop market share of business by 15 %.
2. Explain the innovation/value matrix and its application to strategic marketing.
Innovation can be describe as the new or emerging trends and technology in market area. It is
very important for organisation to consider innovation and value matrix while developing
strategies marketing plan and objectives. Innovation matrix includes four types of innovation
which are mention below. Break through innovation – This includes completely and new ideas that can have
major impact on consumers as well as producers. Disruptive innovation – This innovation will lead to development and creation of new
and valuable market and network. It will lead to eventually disrupts current and existing
market. Basic research – In this research is conducted in order to increase the knowledge and
understanding about the concept. Research will lead to creation of innovation by
answering the fundamental questions.
 Sustaining innovation – This refers to the innovation that happens due to incremental in
basis and knowledge. This innovation is in response to customer and market demands as
well as implementation of technology.
Innovation in strategic marketing will lead to analyse the way in which business can improve at
innovation. It is crucial for company accurately track evolution of firms with innovation. This
will lead to enhance the performance of business as well as conducting task in appropriate way.
3. Explain how portfolio analysis can be applied to strategic marketing.
Portfolio analysis can be describe as the evaluation of different components that are
included in product and decision making process (Morrison, 2013). It is essential to analyse and
evaluate various elements that is required to allocate resources in order to achieve goals of
organisation. It is crucial to apply portfolio analysis with strategic marketing of business as this
support in better decision making as well as reducing risk allocated to business. In this products
and services of company are identified so that organisation can develop better strategies that will
lead to growth of business. Product life cycle analysis and BCG matrix is example that will
support in strategic marketing.
4. Explain the benefits of branding in relation to improving marketing performance.
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Branding refers to actions that is taken by an organisation to promote products and
services of company. It is important to conduct branding activities in effective manner as this
will lead to have major benefits for company. Importance of branding in relation to improvement
in marketing performance is mention below.
 Branding support in increase profits and revenues of business.
 This helps in attracting more customers towards business as well as increase sales of
company.
 Brand image of company assist in saving business at the time of crises.
 It leads to expand the worth of organisation and develop strong relationship with
customers.
5. Explain each component of the acronym SMART in relation to objectives.
Components of SMART objectives refers to specific, measurable, achievable, realistic
and time. It is crucial for organisation to consider all of these elements while developing
objective and goals.
Specific- This implies that objective should be clear to understand exactly what is needs to be
achieved.
Measurable – It is essential that organisation is setting goals that could be measured with the set
standards (Vargo and Lusch, 2014). Measurable will support in identifying what and when is to
be achieved.
Achievable – Set objectives needs to be achieved with the set period of time. It is important to
develop such objective which is possible to achieve.
Realistic – While development of objective it is crucial to identify that set goals is realistic as
well as possible to accomplish in selected time frame.
Time – It is important to set right and accurate time frame to achieve the objectives. Deadline of
objective should be set by considering the task of objectives.
6. Explain why there may be some tension between long-term and short-term marketing
objectives.
Short team marketing objective includes goals for short time frame. Long term marketing
objective are for more time period. Both of these marketing objectives needs to accomplished in
order to enhance performance of organisation. The main reason for tension between long term
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and short term marketing objectives is ineffective management system of organisation as well as
misaligned or mismanaged goals.
7. Explain the balanced score-card strategy performance management tool.
Balanced score card can be describe as the strategic management performance that needs
to be identified correctly and accurately. It is important for company to use balanced score card
strategy to manage performance of employees. This is helpful in improving the various functions
of internal business as well as analysing it with external outcomes. Data collected by balance
score card management tool is important to take better decision as well as to provide accurate
feedback to employees.
8. Explain the concept of product differentiation strategy.
Product differentiation strategies refers to those marketing strategies that is developed by
company in order to differentiate business products and services with other rival companies
(Grönroos and Gummerus, 2014). In product differentiation strategy, organisation is focusing on
creating products that is different from current products of market area and not developed by
any other competitor’s organisation. This strategy helps in building strong valuable proposition
in market areas by offering new and attractive products to customers.
9. Explain two common sources of differentiation within a product differentiation strategy.
There are different ways through which company can differentiate products with other
rival companies. This will lead to have major positive impact on growth and development of
business.
Two common sources of differentiate are mention below.
 Company can differentiate its products on the basis of quality. Difference in quality and
price in comparison to competitors products and services is a sources of differentiation.
 Different is functioning of products can be consider as the source of product
differentiation strategy.
10. Explain two disadvantages of using a product differentiation strategy.
There are several disadvantages that could be faced by company while using product
differentiation strategies. Disadvantages are mention below.
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