MKT600 Principles of Marketing

Question:

Objectives:

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To develop an understanding and appreciation about the influences of micro and macro environmental actors and forces that affect an organisation’s ability to serve the needs of the target market;
To develop critical analytical ability to gather and analyse relaevant data to facilitate decision making;

To develop foresights to predict industry trend and tailor the organisation’s practices to respond to the changing situation.

Instructions:

This assessment task requires you to develop a Marketing Environmental Analysis that comprises both the micro-environment and macro-environment. The micro-environment analysis involves a scrutiny of internal environment that facilitates specifying the strengths and weaknesses, while, the macro-environment analysis requires the scrutiny of demographic, economic, natural, political, technological and cultural (DENPTC) dimensions which will assist in specifying the oportunities and threats. Changes within the macro environmental forces are outside of an organisation’s direct control requiring an organisation’s marketing strategies to be adjusted to capture emerging opportunities and minimise any potential threats.

Therefore, in this assessment task you will need to:

Articulate your learning about marketing concepts and principles covered from Module 1 to 3.1 to demonstrate your level of understanding to evaluate the organisation’s overall situation;

Critially analyse the link between marketing theory and practice;

Demonstrate research skills to reveal the insights;

Apply appropriate business report writing skills;

Discuss appropriate strategies with regards to your SWOT analysis.

Scenario: Choose an organisation from the list provided below that intends to expand its businss either through a new product development or a new business/market development.

Brick Works – https://www.brickworks.com.au/

IVFAustralia – https://www.ivf.com.au/about-us

Progressive Office Furniture – https://www.progressiveoffice.com.au/ Luxury Handbag Hire – https://www.fashionconfidential.com.au/? gclid=EAIaIQobChMIkJjQieus6AIVR6SWCh2loAXiEAAYASAAEgI5mPD_BwE
Tasks:

Discuss the value propositions, core brand values and buyer behaviour of your chosen organisation;
Analyse the micro-environment (the company, suppliers, intermediaries, relevant publics, customers and competitors);
Analyse the macro environment, that is, demographic, economic, natural, political, technological and cultural (DENPTC) forces to demonstrate their impacts on your chosen organisation’s strategies/capabilities to serve the target market (s);
List the strengths, weaknesses, opportunities and threats (SWOT) as well as suggest appropriate strategies by incorporating the TOWS matrix to draw from strengths to capture opportunities, to overcome weaknesses and to defend from threats.

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