Marketing For Business Managers Assignment Sample2

• Type Assignment
• Downloads1224
• Pages11

Introduction

Get free samples written by our Top-Notch subject experts for taking online Assignment Help services.

Part 1

Case 1

According to my perspective, advertising is a crucial aspect of an organization for meeting several objectives including creating brand awareness, acquiring customers, positioning products and services, generating leads and others. In this context, I have found that it is required to include consumers so that it can generate demand for products and services. In this portion, this study is related to advertising to children by the organization Tesco. In my opinion, advertising can be used for including children in the case of children as consumers so that sales revenue can be enhanced faster.

I have found that Tesco is a leading global consumer retail organization where effective advertising is a major aspect for influencing the buying decision making process of consumers. In my perspective, targeting children groups for increasing sales of products like food products can assist the business in increasing the sales revenue and to expand business processes in the competitive market (Backholer et al. 2021). Add to that, I have found that digital and social media has become an essential media of advertising that can be utilized for targeting as well as positioning a value proposition stronger than rival business. It has been observed by me that there are several children's remains involved with mobile and effective advertising can assist in generating demand for some products in children so that they can force careers or parents to buy that product or service. I have also observed that success of advertising is largely dependent on the effectiveness of content where most of the view of markets that 75% for sales or conversion is dependent on developing proper content based on interests and thinning of audience. Thereof ere, according to my view, it is required to evaluate the thinking, perception of children’s for different geographical areas so that they can produce different types of content to target different children groups in the society.

I have observed from that global report 2021 regarding engagement with mobile that around 26% of patents view the engaged children with mobile that engagement with the Smartphone starts from between the age of 5 to 8. In this dimension, I can say that online advertising would be a great aspect for targeting children in a market. Consumers are those audiences who actually consume a product or service and customers are those audiences who buy products therefore I can say that a customer may be or may not be the actual consumer of products and services (Naumovska et al. 2020). Add to that, in my perspective, advertising to children can assist the business process of Tesco to increase its sales revenue as well as in increasing profitability. I have observed that Tesco is associated with consumer retail where it can advertise children for some food products where they are actual consumers. For instance, distributing toys or stickers with some food products can influence children (Kontsevaya et al. 2020). In this portion, according to me, it should be the main task to position products stronger than available existing competitors in the market so that business products can become the first choice of customers.

Case 2

In my perspective, the present business environment is becoming very competitive where the main area of consideration is to collect important customer data for making a strong differentiation in the market. I have found that the business process of Tesco Plc is associated with consumer retail and its vision is to expand business operations in the global environment and generate greater value for customers. In my opinion, a major task of an organization in the current time is to evaluate several micro external environmental factors for controlling activities properly with any change.

I have observed that Tesco's business process is involved with several competitions in the global environment such as “Sunsbury, ASDA, Marrison’s, Waitrose and others”. In this aspect, collection and utilization of important customer data can assist Tesco in gaining a competitive advantage (Rosnizam et al. 2020). As I have observed that this business is mainly considered to expand business in the global environment by entering into the market of different nations, it should collect data based on psychographic segmentation, demographic, geographic as well as behavioral segmentation. In this context, I have identified that the marketing model STP “segmenting, targeting and positioning” can be effective for utilizing customer data to meet various organizational objectives. In addition, in my opinion, psychographic segmentation can assist this business in making content based on customer’s thinning, culture, religion and others so that a strong emotional attachment and greater customer engagement can be gained (Peeroo, 2019). Apart from that, in my opinion, demographic segmentation can be focused on collecting customer data related to their age, income, occupation, gender and others that can assist Tesco to adopt a proper positioning strategy. I have found from the global market report of 2020 that the market size of the consumer retail industry reached $23 trillion. That shows a large market size and also a great opportunity for increasing the sales revenue. In this aspect, I have identified that a proper usage of customer data can be helpful in dealing with some market forces such as substitution threat, increasing competitors and others. Based on my perspective, it is also a major area of consideration to consider on producing effective content based on different customer types (Rimmer, 2018). I have found that the success of advertising is largely dependent on the effectiveness of content where most of the view of markets that 75% for sales or conversion is dependent on developing proper content based on interests and thinning of audience. In this context, I have also identified from the markers report of 2021 that improper content and breaching the trust factor are the reason for moving 43% of customers towards other businesses. In this dimension, I can say that it should be the prior task to produce effective content based on customer data to make strong personalized communication with a global audience. Therefore, it can say that consideration on the changing needs and wants as well as engagement and satisfaction data of customers and assist in gaining well customer acquisition as well customer retention rate.

Part 2

Introduction

A proper plan regarding personal development can assist an individual in developing essential personal as well as professional skills for becoming efficient in the chosen field or desired field. In this aspect, I have observed that WBL -”work based learning” can be considered to make an essential education and learning strategy to develop skills so that it can gain several career opportunities in future. This section is associated with learning and developing required skills for interior designing and for furnishing where in my opinion, considering personal SWOT analysis can assist in evaluating self so that greater efficiency can be achieved in individual learning and skills for positioning greater value for future employment and other career goals. Based on the given case, I have observed that it is needed to complete a WBL of 35 hours for reaching from level 4 to level 5. It is required to consider approaches on learning so that it can be effectively utilized for personal development. Therefore, I can say that the aim of this PDP is associated with evaluating curial models of learning and making action plans during the WBL hours to gain an effective result.

Self Appraisal

According to my perspective, in the context of PDP - “personal development plan”, self appraisal should be a crucial area of consideration evaluating several personal dimensions to identify required initiatives to be taken to be efficient in the chosen or in desired field. Add to that, in my opinion, it can measure the efficiency regarding learning as well as skills related to the field of interior designing and the furnishing. In this dimension, I have observed that measuring current efficiency regarding current learning’s and skills compared to the required efficiency can assist improving individuals to enhance level based on WBS (Grit, 2019). In addition, I have observed that WBS is a kind of education strategy where a learner can gain real experience regarding personal, academic and professional skills. Based on the given case, I have identified it is required to complete 35 hours WBL for reaching from level 4 to level 5. In the field of “interior design and furnishing” I have observed that personal branding is largely involved with the learning and skills related to multitasking, effective internship learnings, team work, net working, communication skills and hardworking nature (Lacsamana et al. 2018). Therefore, I can say that an evaluation of current efficiency about individual learning and skills can be helpful in reaching to a level that would represent that individual has become efficient.

Reflective Model and Scoping

In my opinion, self SWOT analysis can be helpful for analyzing individual strength areas, weaknesses, areas of opportunities along with threats. Add to that, I have found that it should widen the area of strength for gaining opportunities and narrow the area of weakness for reducing the impact of threats on the career path. I have observed from the global market data 2020 that the global industry size of interior designing reached to $143.3 billion and it is the estimation that it will grow with the CAGR -”compound annual growth rate” of 5.5% between the year 2020 to the year 2027. In this industry situation, according to my perspective, personal marketing must be considered so that it can be positioned as self learning and skills stronger to generate higher value for employers (Mashkoor et al. 2022). In this dimension, I have found that an individual should have effective networking ability for gaining proper sources of meeting future objectives.

S- Strength

• Effective communication skills
• Good efficiency in Team work ability
• Well efficiency in Hardworking nature W-Weaknesses
• Not very effective networking

O- Opportunities

• Increasing opportunity of employment in Increasing market size of the interior designing
• The growth rate of this industry has been projected to be 5.5% between the year 2020 to the year 2027. T-Threats
• Increasing competition regarding employment
• Decreased job for the outbreak of the pandemic Covid19 and for its waves

T-Threats

• Increasing competition regarding employment
• Decreased job for the outbreak of the pandemic Covid19 and for its waves

W-Weaknesses

• Not very effective networking

Action Plans

Based on the SWOT analysis, it can be understood by an individual about threat areas such as increasing competition regarding employment and decreased jobs for the outbreak of the pandemic Covid19. In this aspect, In my opinion, an action plan can be made regarding decreasing the area of weakness so that the impact of that on personal development and career opportunities can be reduced. Based on my perspective, these threat areas can be resolved by developing ability regarding networking where it can be considered on personal networking, societal networking, and academic networking as well as social media networking. I have observed that an effective relationship with seniors and teachers can assist in gaining future benefits and also developing relationships with friends and relatives can also be helpful for gaining an effective source of development and job (Turner et al. 2022). Apart from that, I have identified that developing a LinkedIn profile with all the information about learning and skills about “interior designing and furnishing” can assist in networking with some organizations and some persons as well as gaining posts related to the field of interior designing. As it is discussed above that duty growing market size of interior designing, there are several opportunities regarding employment can be gained. In this case I have found that it must widen the strength areas of an individual by increasing the efficiency of current skills and gaining new learning’s so that it can be positioned greater value for the employers.

Conclusion

Based on the above evaluation and approaches regarding the plan for personal development, I have discussed that it is required to do self appraisal based on measuring current efficiency with required efficiency. I have also mentioned that applying SWOT analysis; an individual can evaluate different strengths as well as weaknesses for gaining a future opportunity. Finally, in self marketing, I have evaluated that it should be the main task to position leanings and skills stronger for creating high personal brand value for employers.

Part 3

Introduction

Marketing concepts evolved where it can be observed that past marketing media was largely based on television and it was also spamming email the 1950s to 1990s. In the current business environment, marketing is greatly focused on digital and social media marketing. In this portion, it can be observed that current business organizations are mainly considered on collecting and using crucial customer data. In this dimension, it is required to consider on future marketing process can be more personalized data driven for more effective targeted personalization.

Thoughts on the Future Marketing

According to my perspective, the future marketing activities will be strong positioning of value for target audience and also converting most of the retained customers into loyal customers by continuous product development and innovation (Henseler et al. 2020). In the evolution of marketing, I have found that it was based on selling in the previous scenario where customer acquisition or converting prospects to actual buyers was the main aspect of consideration. In this context, I have observed that the current marketing concept is focused on customer satisfaction but in the competition of positioning value proposition stronger than rival business, several businesses failed to meet customer satisfaction based on generated perceived value. In this situation,in my opinion, future marketing concepts will be essential considering customer retention rather than customer acquisition so that long term value can be gained. In the current approach, I have found that most of the organizations are using curial customer data for meeting several objectives such as creating awareness, generating leads, influencing buying behavior and other. In this aspect, according to my view, the marketing would be highly considered on mankind differentiation with actual value creation and understanding changing needs and wants of target audience so that their changing exception can be met with bringing innovative solutions.

Marketing world in next 10 years

In my opinion, the marketing world would be highly content marketing based on the next 10 years. In my perspective, the future business environment will be more competitive where marketing activities will be highly based on producing personalized content. In addition, I have observed that most of the organizations have a vision regarding expanding business processes faster in the industry therefore future content development aspects would be AI -”artificial intelligence” tool centered. In my opinion, application of AI tools in content producing can assist in establishing a very strong personalized communication process with the audience (Sheth, 2021). In this context, I have also identified from the markers report of 2021 that improper content and breaching the trust factor are the reason for moving 43% of customers towards other businesses. Therefore, it can be said based on this data that the major task of markers will be to show the right content to the right audience by considering customers’ interests, changing needs, expectation, income and others.

Conclusion

Based on the above evaluation of future marketing world, I am concluding that most of the organizations are facing challenges regarding close substitute products and increasing competition where it will be trend of competitor virus as well as user positioning for generating greater brand value in the market.