Project & Relationship Management: Difference between traditional and modern market, PESTLE and SWOT analysis, stakeholder analysis and its application in business scenario

PROJECT &
RELATIONSHIP
MANAGEMENT

Contents
INTRODUCTION.....................................................................................................................................3
MAIN BODY............................................................................................................................................3
Difference between traditional and modern market.........................................................................3
Application of PESTLE analysis ..........................................................................................................4
Application of SWOT analysis ............................................................................................................4
Describe the stakeholder’s analysis ..................................................................................................5
How stakeholder analysis applies in business scenario ....................................................................6
CONCLUSION.........................................................................................................................................7
REFERENCES..........................................................................................................................................8

INTRODUCTION
Project management can be defined as the process of leading the overall work of a
team in order to achieve the project goals in an effective manner (Amaral Féris and et.al.,
2020). Project management is an essential part of a project and this is because it ensures that
the different tasks as well as activities in the project are carried out effectively. On the other
hand, relationship management can be defined as a strategy wherein a organization maintains
an ongoing engagement with the customers (Layton, Ostermiller and Kynaston, 2020).
Relationship management entails techniques to build consumer assist for a commercial
enterprise and its services, and boom brand loyalty. Most frequently, relationship building
occurs at the patron stage, however it is precious among organizations as well. Building a
relationship with clients yields rewards for all events. In order to conduct this report, Marks
and Spencer is being selected. This organisation is operating its roles and responsibilities in
retail industrial sector. Company offer its products and services worldwide and provide high
quality products and services to customers.
MAIN BODY
Difference between traditional and modern market
Traditional marketing refers to a type of marketing that does not involve the use of
any digital technology or online platform. The first and predominant difference among the
two is that whilst traditional advertising targeted on selling the goods which had been
produced by the enterprise while modern-day advertising first appears at from client pleasure
point of view after which produce the product in keeping with desires of the customers in the
end selling the ones items to goal customers (Wawak and Woźniak, 2020). Another
distinction between the 2 is that at the same time as conventional marketplace used to assume
from enterprise’s point of view as their entire awareness become on selling the goods to the
purchaser irrespective of whether or not they required the goods or no longer. Whereas
modern advertising is client oriented as beneath this sort of marketing employer first assesses
the want of the patron after which the product is customized to healthy the consumer wishes.
While traditional marketplace used mediums like flex forums, pamphlets, radio and
television for advertising and marketing while cutting-edge advertising now not best uses
conventional medium of advertising and marketing but also makes use of modern methods
like social media marketing, internet advertising and other such means to advertise the goods.
Traditional advertising turned into restricted only to advertising or selling branch and other