Marketing Management Assignment: Analyzing Marketing Strategies

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This document presents a detailed solution to a marketing management assignment, focusing on the promotional strategies of Woolworths. It addresses key aspects such as effective advertising and sales promotion, promotional objectives, resource allocation, and the benefits of action plans. The assignment explores resources for organizing promotional events, assessing staff awareness, and establishing positive organizational images through targeted marketing. It also covers networking benefits, feedback methods, and the assessment of planning processes. Furthermore, the solution analyzes the involvement of supply personnel, cost-benefit analysis, and provides recommendations based on the company's challenges, including budget constraints. The solution references relevant marketing theories and provides a comprehensive overview of marketing strategies and their implementation.
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Running head: MARKETING MANAGEMENT
Marketing Management
Name of the Student
Name of the University
Author note
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Table of Contents
Answer 1..............................................................................................................................2
Answer 2..............................................................................................................................2
Answer 3..............................................................................................................................2
Answer 4..............................................................................................................................3
Answer 5..............................................................................................................................3
Answer 6..............................................................................................................................3
Answer 7..............................................................................................................................4
Answer 8..............................................................................................................................4
Answer 9..............................................................................................................................5
Answer 10............................................................................................................................5
Answer 11............................................................................................................................5
Answer 12............................................................................................................................6
Answer 13............................................................................................................................6
Answer 14............................................................................................................................7
References............................................................................................................................8
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Answer 1
The promotional activities that are effective and appropriate for Woolworths Company
are advertising and sales promotion activities. The advertising can be done through the usage of
social media and the sales promotion can be done by providing discounts on the new range of
products (McDonagh and Prothero 2014).
Answer 2
The advertising is the best promotional activity that can be scheduled and it is effective
for the respective organization. The advertising technique can be applied, as this will help in
shaping the perception of the individuals regarding the products and services sold by
Woolworths. Advertisements can have huge positive impact on the business as when the
company is launching a new product, it is essential in nature to understand the popularity of the
product and this will help the business to gain competitive advantage as well.
Answer 3
The overall promotional objectives of Woolworths are as follows:
To stimulate the demand for the products and services as this will help in converting the
potential buyers into the actual buyers
To inform the different customers about the different features and qualities of the existing
product and the introduction of the new products in the market as well
To persuade the customers in the market by providing them with the different qualities of
the product in comparison with the competitors in the market
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To build brand awareness as this will help the company to increase the sales and profit of
the company in an effectual manner
Answer 4
The proper resource allocation is the appropriate method that can be used to ensure that
the timelines and budgets are adhered to as this will help in solving the different issues of over
and under allocation of the resources in an effective manner. The allocation of the resources has
to be done in an effective manner as this can help in maintaining the budget in an effectual
manner.
Answer 5
The benefits of employing the usage of detailed action plan are as follows:
It helps in focusing different activities as this will help in accomplishing different goals in
an effective manner
It helps in strengthening the morale of the team as this helps the employees to focus on
the different activities allocated to them and achieve the results that is desired
Strengthening the self esteem as well as self confidence as this will help in becoming
successful in promoting different products (McDonagh and Prothero 2014)
Answer 6
The resources that could be drawn upon when organizing a promotional event for the
company are as follows:
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The ultimate design handbook as this will help in making the attendees understand the
specialty of the product
A proper planning guide is essential to be maintained as this will help in explaining the
customers about the product in much more effective manner
Event metrics data driven organizers is essential as this will help in analyzing the data in
an effectual manner along with sponsorship guide for the event
The development of content strategy is essential to be generated as this will help in
maximizing their chances to create value for the brand (Khang et al. 2016)
Answer 7
It can be understood that all the staffs are aware of the roles that has been assigned to
them when the staffs are performing their duties with motivation. When the employees deliver
their duties and responsibilities in an effective manner within specified deadline, it can be
analyzed that they are aware of their roles and they are performing it effectively as well (Kumar,
Sharma and Gupta 2017).
It is required to be checked that the staffs are performing tasks as per the requirements
without much difficulties. This will help in increasing the productivity and sales of the company
in an effective manner as well.
Answer 8
In order to enhance a positive image of the organization, the relationships with other
targeted groups can be established with the help of marketing their products in unique manner.
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The company needs to market their products in such a manner that will help in gaining the target
audiences in an effective manner (Green, Haddad and Aronson 2018).
Answer 9
The networking can benefit while implementing promotional activities as meeting
different kind of individuals in the social events will help in building proper reputation. With the
help of well established network, it will help the company to expand the business to build
relationships with different individuals in an effectual manner (McDonagh and Prothero 2014).
Answer 10
The methods that can be used to gain the feedback of audiences after the event are as
follows:
Provide feedback on love chat session
Call the loyal customer regularly (Kotler 2015)
Use surveys through emails for the new customers
Provide dedicated kind of feedback forms on the site
Answer 11
The effectiveness of the planning process can be assessed in such a way that it helps in
identifying improvements in the future are as follows:
Proper assessment of both the internal and external environment is essential as this will
help the company in identifying their areas of improvements required
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Review and defining of the values, social vision along with mission as this will help in
making improvements that is required
Proper designing of the action plan is essential and necessary as this will help in marking
the goals and it will identify the different objectives on a yearly basis
Answer 12
The supply personnel and agencies are involved in the promotional activities of the
organization as the supply agencies are the ones who provide different kind of services and
products in an effective manner. The supply agencies takes care of the different analysis of the
products and services in such a manner that this will help the company to gain competitive
advantage in the market against the other competitors in the market.
Answer 13
The costs and timelines can be analyzed with the help of cost benefit analysis and
preparing the budget with the help of MS project wherein the analysis can be done relating to the
tasks that has been completed within the specified deadline. The cost benefit analysis can help
the company in understanding the strengths and weaknesses of the different alternatives in an
effective manner. It helps in determining the different other options that will be suitable options
that can provide the company best alternatives for the future.
The company needs to understand and analyze the different allocation of resources in an
effective manner as this will provide the company different strengths that will help in
understanding the best alternatives that will help the company to gain competitive advantage and
other benefits in an effective manner.
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Answer 14
The recommendations and conclusions can be prepared with the help of analysis of the
different loopholes that has been faced by the company while promoting the product in the
market. The company needs to understand the different issues that were faced by company was
the budget as it was not enough and this caused huge issues for the company in the present
scenario as there was no flexibility in the organization.
The company needs to unlock the lines of budget wherein the inbound marketing has to
be analyzed in an effective manner as this will help the company in receiving higher budgets in
the future and this will help to double their marketing in an effective manner in the future as well
(Baker and Saren 2016).
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References
Baker, M.J. and Saren, M. eds., 2016. Marketing theory: a student text. Sage.
Green, A.R., Haddad, P.M. and Aronson, J.K., 2018. Marketing medicines: charting the rise of
modern therapeutics through a systematic review of adverts in UK medical journals (1950‐
1980). British journal of clinical pharmacology.
Khang, H., Han, S., Shin, S., Jung, A.R. and Kim, M.J., 2016. A retrospective on the state of
international advertising research in advertising, communication, and marketing journals: 1963–
2014. International Journal of Advertising, 35(3), pp.540-568.
Kotler, P., 2015. Framework for marketing management. Pearson Education India.
Kumar, V., Sharma, A. and Gupta, S., 2017. Accessing the influence of strategic marketing
research on generating impact: moderating roles of models, journals, and estimation
approaches. Journal of the Academy of Marketing Science, 45(2), pp.164-185.
McDonagh, P. and Prothero, A., 2014. Sustainability marketing research: Past, present and
future. Journal of Marketing Management, 30(11-12), pp.1186-1219.
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