MANAGE THE MARKETING PROCESS.

All questions must be answered correctly

Running head: MANAGE THE MARKETING PROCESS
MANAGE THE MARKETING PROCESS
Name of the Student
Name of the University
Author Note

1MANAGE THE MARKETING PROCESS
Introduction:
Best Choice Bakeries is a small house of bakery offering great tasted cakes, breads, pastries and
pies to the natives of Mount Druitt. The shop is situated in 19 Mount Druitt Road. The bakery
had been mostly rated between four to five stars by the customers for its product quality and
service.
Please answer all of the following questions:
1. What types of market trends & developments may have potential impact on
organisation’s business. (25-75 words).
The market trend of DIY cakes can potentially affect the on the development of the organisation.
Due to the introduced social videos of trying bakery products making at home is a new
entertainment and tutorial but equally a potential threat for the company that can decrease the
sales rate.
2. Briefly discuss the impact of economic, social and industry directions, trends and
practices on marketing functions of the above café business, which is willing to introduce
organic food products. (25-75 words)
The impact of economic, social and industrial directions indicate that the marketing practices has
drifted more to self-learning approach through social media. Individuals trying to set up their
start-up is taking help of social media sites to gain popularity and customers. The effect DIY is a
threat as well as a new business growth opportunity for the bakery.
3. You are an entrepreneur running a small bakery shop in Mount Druitt and your
accountant recently recorded the bakery’s cake sales for the last two financial years in the
following manner:
2017-
2018
2018-
2019
No. of cakes sold: 150 100
Sales Value: $30 $35
Average unit value: $ 15 $ 20
Average unit profit: $ 20 $ 25
Average age group of customers buying cakes from the
bakery:
B/w 10 – 30 = 55% 70%
B/w 31 - 40 = 35% 22%
B/w 41 – 60 = 10% 8%
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2MANAGE THE MARKETING PROCESS
a. Briefly analyse the above information in terms of the trends it reveals. (25-35 words)
The trend of purchasing bakery items had been seen more prevalent in the age group between 10
to 30 years of consumers in the last two years. The number of sales might have decreased but the
overall average profit has increased.
b. Based on the above brief analysis, identify new marketing opportunities for this bakery.
(25-75 words)
The data shows increased value of the product and liking of audience. The target market
indicates the age group of the children and the youth as potential customers and reflects a great
opportunity for the bakery to adopt new strategies in developing attractive products that can even
seek the attention of the decreasing sales rate from other age group customers.
4. Below is given a list of stakeholders to be involved in the café research project. The
research project is mainly aimed at investigating the pros and cons of introducing organic
food at café. Against each stakeholder, in the context of the project, identify the expected
roles and responsibilities of these stakeholders.
Stakeholder Their expected roles (in the context of the project)
Owner The owner has the responsibility of investing capital in the project
and assign a responsible team of managers who can propagate
with the development of the café’s operational and marketing
activities.
Café Manager The administrative power of the café manager is to look after the
operational activities of the store. He is responsible to select teams
of waiters and chefs who will be manufacturing and serving the
products to the approaching customers.
Accountant The accountant is responsible after looking at the business
transactions and profit & loss of sales operations. The
management of financial activities is under this person’s duty.
Marketing Manager The marketing manager is responsible to research and find the
target market of the café and initiate promotions of the project
through different modes of advertising and conquering different
markets (Calkin, Thompson & Finney, 2015).
5a. Make a list of two (2) internal and two (2) external stakeholders who can be seen
participating in the marketing plan aimed at introducing organic food at café business.
Internal stakeholders
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3MANAGE THE MARKETING PROCESS
Management The management is in charge of deciding the team and resource allocation of
the marketing plan. Manager dignitary is the lead member of the plan.
R & D This team is responsible for researching on organic product and find their
resources to be used.
External stakeholders
Customers The customers with their review on the new marketing plan helps in
developing the need of the average audience and assess the potential demands
of organic products.
Media The media is a source of promoting the marketing plan that will seek the
attention of different customer groups, medical and health experts to use and
comment on the utility of the products.
b. Against each stakeholder, identify a role they can play in the plan’s implementation and
their responsibilities.
Internal Stakeholder Role in implementation Responsibility
1 -Employees The employees will be
utilising the organic raw
materials for making the final
products like cakes and breads
or coffee/tea.
The employees are
responsible for appropriately
using the materials and
produce fruitful
proportionately safe output.
2 - Management The management plans and
organises the resources to be
allocated for sourcing organic
materials.
The management is
responsible to technically
design the implementation
planning and execute
correctly.
External Stakeholder
1 - Media The media plays the role of
promoting the product and
services to the audience.
Promoting the correct
information about the product.
2 - Government The government puts the
authentication of standard
certifications to the products
being organic.
Responsibly checking if the
products really use organic
materials or not.
6a. There may be more than one person involved for the success of the marketing plan. List
three (3) who you would see as being critical to this success. (30-50 words)
1. Management: The management behind the plan gets the maximum credit of planning,
designing, researching and executing the project and amend on its reviewed suggestions.
2. Marketing team and media: In order to reach the success of achieving customer,
promotions attract the mass.
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4MANAGE THE MARKETING PROCESS
3. Research and development for product designing: As the organic material using needs
proper knowledge and training, the R&D team works best in finding the correct utility
(Donate & Pablo, 2015).
b. Against each stakeholder, identify their objectives, performance measures, role played
and responsibility towards that success. The person may be marketing or non-marketing
personnel.
Objectives Performance
Measure
Role Played Responsibility
Customer/Client To consume the
product
Utility gained Assessor of the
success
Carrying
forward the
trend
Employees To develop the
product
Popularity
gained
Creator of the
success
Carrying the
same level of
quality
Supplier To supply the
correct organic
resources for
product
development
Overall success
of the product
and utility found
both by
customers and
company
Co-creator and
supporter behind
the success
Carrying
forward the
same quality of
material
supplied and
duty
7. Do your research and summarize industry competitors, including products offered and
potential buyer markets, for a product of your choice. (50-100 words)
TFC Bakery and café. Good
known for breads.
Mid-age women group prefer
this place for getting good
quality breads and baking
orders
Superior Bakeshop and more Well known for pastries Kids and youth are the
potential buyers
8. For the following products, list down their main features benefits. One example has
already been given.
Product Features Benefits
Mobile phone Integrated Email application We can check emails
wherever we are. We can
keep in touch with our
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customers when we are on
the move
Computer Excel, word, designing
application, calculating
software and integrated
professional system
Recording transactions,
preparing presentation,
developing product design,
attendance, research
Sports car Apt for racing with special
speed boosters
Speed booster and formula
one racing
Financial reporting software Software of financial formulae
and calculations friendly
Records financial data and
generates correct output
Childcare centre Childcare needs with appetite,
physical and mental healthcare
Provides the features to
needed children
9. a. Briefly explain what ‘monitoring’ means to an organisation. (20-40 words)
Monitoring in an organisation is invigilation and remarking the correct implementation against
the outcome after implementation of the project. Recording the performance from time to time is
monitoring the effectiveness of the project.
b. Explain how an organisation would implement monitoring strategies thus ensuring
successful achievement of its marketing plan. (25-75 words)
Post to the implementation of the marketing plan, monitoring strategies can be ensured through
different ways. Analysing customer review, recording performance reviews of the product,
analysing the market response over time, factuality of increasing or decreasing sales are some of
the ways.
10. Mention at least five sets of information data that is used in the quantitative
interpretation of comparative market analysis process while considering redevelopment or
withdrawal of products? (40-60 words)
1. Data set of neighbour place response: The native place of operation is factually the strongest
market section to ponder on
2. Data set of online reviews: The netizen report and review reflects quantitative approach of
interpretation is understanding market statistics
3. Data set of state economics report: Understanding the state economy graphs
4. Data set of competitors: Benchmarking and comparison
5. Data set of performance growth: Monitoring the past and present performance
11. Complete the following matrix. First one has been done as an example.
Marketing objectives: Recommended promotional activities:
To increase the advertising budget by
10%
Use multiple advertising channels such as print, and
social media
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To offer more options to clients Creating multiple communication gates like online
reach, helpline calls, emails and messaging
To make the job duties clearer to all
staff
Revisiting policies with daily monitoring
performance
To remove misconception about the
company’s faulty products
Standard certification sharing
To make customers aware of the
green and sustainable practice at
work
Promoting green activities on website and making
customers involve in the activity: Growth of CSR
To introduce web marketing Promoting the utility of web and its facilities in
growing business
12. For a store like 7 Eleven, propose any three (3) relevant store’s marketing objectives
and briefly outline how your proposed marketing objectives would support the store’s
overall business objectives of increased revenues. (60-100 words)
1. Promoting quality of products: Audience look for quality before price mostly for eatables.
2. Health conscious related promotions: Targets health conscious audience for developing health
beneficial products
3. Clear stating the relation of market demand and company demand: Staying transparent to
audience can attract huge numbers.
13. Define the following terms: (10-25 words each)
conversion rate of leads
to sales
Conversion rate are equal to total numbers to be converted
divided by number of leads and multiplying it with hundred. The
leads to sales conversion rate measures sales team effectiveness
in converting leads to customers.
net response rate of a
survey
The total number of respondents of a survey divided by the
target number of respondent multiplied by hundred
normal distribution
probability curve
Normal distribution is a probability distribution whose normal
curve value is 1 and where the random normal variable probable
to be equal to zero value.
sampling Procedure of statistical analysis with pre-determined
observation numbers from populations.
RFM Analysis Recency, frequency and monetary analysis analyses the
customer buying behaviour and qualitatively derive the best
customer groups.
lifetime value of
customers
It is a metric to represent the total net profit earned by a
company from any of its customer.
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7MANAGE THE MARKETING PROCESS
net present value of
customers
Refers to the value of current day of all upcoming revenue
minus the current cost of upcoming expenses.
14. How do the companies analyse the qualitative data results to determine the success of
their marketing activities? (25-75 words)
Qualitative data reflects the data set of reviews from customers and their personal opinion
regarding the products that reflect success of marketing activities. Moreover, customers
participating in reviewing the products for further development or due to good reputation of the
company are equivalent success factors.
15. What information can be measured and documented as a part of marketing
performance review against the Key performance Indicators and to ensure marketing
effort is directed towards organisational objectives? (25-50 words)
Rate of sales can be measured to ensure the marketing performance efficiency and effort. The
reviews or complaints from customers and strategies taken for overcoming that by the company
can be documented as a part of marketing performance review against KPI that ensures
marketing effort directing towards organisational objectives.
16. Describe value chain analysis as a technique to manage the integration of marketing,
promotional and sales activities. (25-75 words)
Value chain analysis is an integrated format of analysing company’s internal and external
operations functions that reflects marketing integrity, sales and promotional activities. Inbound
and outbound logistics activities, marketing and sales, operations and infrastructural
development comprises the model in form of primary and support activities.
17. Describe the decisions companies make regarding their individual product and services,
product lines, and product mixes while planning and monitoring marketing policies. (25-
75 words)
Individual product and services of a company have individual demands. Hence, the product line
planning and mixes are decided based on the demographic factor of consumers, pricing factors
and factor of customer preference are monitored by the marketing policies. Along with that, the
effectiveness of marketing policies affecting customer buying behaviour are also analysed and
monitored.
18. Provide an example of different types of marketing metrics to conduct a marketing
performance review and brief explanation of each metrics. (40-80 words)
Return on investments: the major concern of profit earned from capital invested reflects
marketing performance review.
Reviewing Sales Numbers: the graph of sales growth or downfall reflects the effectiveness of
marketing policy implementation.
Leads: The number of increase in potential customers from leads.
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8MANAGE THE MARKETING PROCESS
Lifetime value of customers: The total value earned from customer by the company.
Cost of customer acquisition, Sales-team response time and Website traffic are some more of
them.
19. Outline the communications process and the steps to communicate strategic marketing
objectives across the organisation. (25-50 words)
The communication of marketing objectives across the organisation is communicated through
meeting and emails. The development of new policies in the organisation may often be made to
communicate marketing objective (Bird & Mendenhall, 2016).
20. Communicating with the “team” is an important step that ensures individuals work
together to meet organisational marketing objectives. What would you consider as
discussion points at team meetings in regards to marketing? (25-75 words)
The communication with team must focus on the mission and vision of the strategies. There has
to be benefit behind the strategies for both the company and the employees as well. In short,
employees must be spoken the advantages they can achieve from implementing the marketing
policies aptly.
21. Describe the concepts of Mentoring and Coaching along with the steps to be carried out
to perform these functions. (25-50 words)
Mentoring and coaching are functions rendered by team leaders or manager to guide the team in
approaching correct execution of operations. After the introduction of strategies and briefing,
managers need to mentor or coach the employees for appropriately utilising the strategic
functions.
22. How you will measure individual and team performance, and instigate corrective action
promptly to safeguard marketing outcomes. (25-50 words)
Individual performance can be measured through deliverables of the employee in team effort and
individual aspect of the company. Team performance is measured by the collective effort of
member of the team through exception ideas and their success in the implementation from the
rest.
23. List down three different approaches commonly used by marketers to analyse
marketing outcomes in terms of determining and describing the total market for a product
or service. (25-75 words)
Social engagement: engaging with the customers in the market is a way of surveying that
analyses the market share and preferences of the product.
Online surveys: surveying the netizens on random SEO systems can also reflect the marketing
outcomes (Bencsik, Horváth-Csikós & Juhász, 2016)
Monthly monitoring study: the performance and marketing utility graph is compared on every
month records to analyse effectiveness of the implemented policies.
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9MANAGE THE MARKETING PROCESS
24. Briefly explain the following three relevant marketing metrics commonly used to
analyse online marketing performance. (10-20 words each).
 Total Visits: the total footfall of customers are measured as total visits devoid of leads
and converted customer
 Bounce Rate: the rate of footfalls avoiding to approach new marketing policies and
delivering negative feedback
 Cost Per Lead: the value and time cost invested behind every lead to convert them to
potential customers.
25. Explain Fish-bone or Cause and Effect analysis as a performance gap analysis and risk
identification tool. (25-50 words)
Fishbone effect analysis works as a timeline structure recording and marking the functions on
every step. Hence, gap in the performance can easily be visible through the timeline and
therefore reflects the potential risks accordingly.
26. Explain Situation analysis as a tool to judge the performance against the industry
trends and to set new targets? Explain with example. (25-75 words)
Situation analysis attempts to provide remedy for immediate cause of disruption and demand of
the industry. A company being exclusive to perform situation analysis that are of rare cause can
be judged as something against the industry trends.
27. Below is given a Matrix on KPIs set and achieved for one of the sales staff in a busy
retail clothing store. Briefly comment on the over-performing and under-performing areas
against set targets. What new targets you would propose in the light of your analysis. Also,
list down at least three performance improvement strategies for this staff. (40-80 words in
total)
KPIS
Jan Feb Mar Apr May June
Increase in sales by 5% every month - KPI
Agreed: 2 dresses every month (Base, starting
point, is 20 dresses)
20 22 24 26 28 30
Actual target achieved: 10 7 9 18 15 24
Zero customer complaints – KPI Agreed:
Zero complaints
0 0 0 0 0 0
Number of customer complaints lodged
(Sales related):
2 5 7 12 11 15
Positive, above 85% score, customer
feedback on customer surveys: KPI Agreed:
Above 85%
>85% >85% >85
%
>85% >85% >85%
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10MANAGE THE MARKETING PROCESS
Actual Target Achieved: 75% 50% 45% 42% 35% 30%
2% increase in online ordering by customers
every month: KPI Agreed: 05 online ordering
every month
05 10 15 20 25 30
Actual Target Achieved: 15 25 38 44 59 73
The over-performing areas of the employees are exclusive customer handling skills that have an
impact on increasing the sales rate and achieved higher targets.
The under-performing areas are information related to sale of products that have lead to increases
complaints lodged by customers over time.
28. Explain the term ‘Trend Analysis’. List examples of various trends which are part of
determining the market changes and developments. (25-50 words)
Trend analysis refers to understanding the current behaviour of the society in terms of their
choice of eating, lifestyle and thinking perception. Change in the trend of eating, fashion
manipulates the customer buying behaviour. That determines the list of examples.
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11MANAGE THE MARKETING PROCESS
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