Principle of Marketing Assignment Sample

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Introduction

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Maintaining a proper marketing report of organizations can help keep weekly traffic which will be helpful in the prevention of the breakdown of performance which might impact the progress of the organization for the entire month. This data can also be helpful in the collection of data on a weekly basis as this can be helpful to make an overall marketing strategy. This report is mainly based on the preparation of a marketing report for Pearson Plc, which is the world's largest company, along with a leading player in digital curriculum.

Swot Analysis

Pearson Plc is generally a British conglomerate organization and is the world's largest publisher of education, along with being a leading player in various digital curricula. Pearson education is also helpful in providing various textbooks and workbook testing programs, including different learning tools. These materials are helpful for higher education and the professional market as well for over 100 million people worldwide, and the unique academic imprints of Pearson Plc are inclusive of Allyn & Bacon, Prentice-Hall, and Addison Wesley as well (Bonaparte, 2019). Being a digital brand in the field of digital curriculum, Pearson also has provided various platforms which are disruptive. The SWOT analysis has been done below:

Strength

Pearson plc is one of the leading organizations in the education industry and has numerous amounts of strengths that will be helpful in thriving the marketplace. Apart from protecting the share of the market in this existing market, this also penetrates the market. There are also various successful markets strategies for its own products to make it more successful.

Weakness

These are the areas in which the companies need to work as there are various products whose marketing are left a lot to be desired. Even these products are also successful in terms of positioning their unique selling proposition. There are also gaps in-between the range of the products which are being sold by Pearson Plc along with the expenditure on research and development, and the net contribution and profitability ratios are also below the average of the industry.

Opportunities

There are various opportunities that are arising in the way of Pearson Plc, and this includes the opening of new markets because of the government agreement as the company is adopting various new technology, which is government free trade agreements to enter these types of an emerging market.

Threats 

Similarly, threats are about the new environmental regulations for certain products of Pearson plc. This also includes facing lawsuits of the company in various markets with continuous fluctuations and different laws regarding the standards of the product.

Identification of key services challenges

There are various key challenges that the secondary teachers of Pearson Plc have identified, and this is inclusive of

The students of Pearson plc are afraid of making mistakes:

In this case, the students can celebrate their mistakes by being firm, discussing their answers in a certain group, and listening amongst themselves (R?klaitis and Pilelien?, 2019).

Their students are not engaged in the activities that are selected by their secondary teachers:

In that case, they are required to know their students along with making things a bit competitive and allowing a degree of autonomy. 

Their students make grammatical errors:

To over con this, their students are required to encourage to make them practice language for free.

There are several challenges involved with the challenges of service which may impact the business. One of the major challenges that may impact the business of the company (Pearson) is Brexit. This is important to note that due to this political problem between two nations European Union and the United Kingdom, the business is getting affected over time (Dhingra et al., 2016). However, it can be said the company Pearson also faced the same problem while conducting their business in the organization. This also means that the performance of the company is getting lower day by day. However, due to the political context, the company was not able to effectively develop its supply chain too, which means this is a direct problem for the organization that they are facing. 

On the other hand, the competitive market in the United Kingdom is changing rapidly (Penning-Rowsell et al., 2014). The UK market can be considered the most changing market in the globe. The rapid changes in the organization reduce the growth of the organization. Therefore, in order to develop the market base Pearson, it is important for them to understand the market need and for that, market research plays a key role in further development too. 

Threat analysis

Lack of raw materials:

Rise in raw materials is one of the major concerns for the organization to maintain effectively. There are several reasons behind this. One of the main reasons is Covid-19. Due to the sudden outbreak of the pandemic situation, almost every other company are facing problems. Over time, the inflation rate has been increased rapidly. Therefore, it can be said that the Pisces of the raw materials also increased, which was not able to control by the government too. However, it can be said that as inflation is increasing because of the pandemic, the prices of raw materials have been increased. 

On the other hand, the important thing which may lead to an increase in the price of raw materials is the fight between Ukraine and Russia. Because of this war, the prices of fuel have been increased dramatically (Goldfarb, 2022). As a result, several companies have increased their raw material prices rapidly. As a result, the company Pearson may also need to increase the prices of the raw materials too.

Environment regulation threat:

As the company Pearson Plc is a publishing company, therefore, they must use so much paper, which certainly is not an effective environmentally friendly aspect to consider. However, it can be said that the overall performance of the company is decent. They need to find some solution so that they can go for a sustainable approach that will allow them to develop their performance over a small pan of time (Duran et al., 2017). Using so much paper means the using of trees heavily, which means the carbon footprint is going to increase is not sustainable, and this may impact the environment effectively.

Limitation in the counterfeit and lower quality product:

Lower quality product is also considered one of the major aspects to consider for the organization to consider the threat. The lack of quality products in the market, especially after the Covid-19 pandemic and the Russia-Ukraine war, has created a major drawback in the market for several companies to manage and make a quality products. As the lack of quality raw materials, companies are also not able to make quality products too. This might also be a major factor for Pearson to consider in their business and find some solution for this too. It is important to consider Pearson Plc. to maintain because the supply chain is also devastated. Therefore, companies must depend on third parties for developing their product effectively.

Conclusion

In order to conclude this assessment, it can be said that there are several important aspects have been highlighted. All these aspects have highlighted individual areas that play an effective role to make this research effective. In order to consider this assessment, the chosen company is- Pearson. With respect to that, there are several tools have been used to make this research proper. One such tool is the SWOT analysis. This helps the researcher to identify the strength, weaknesses, opportunities, and threats of the company. Based on all the threats that have been highlighted in this structure, a threat analysis has also been conducted with multiple cross-checked sources. All the major threats have been highlighted, such as limitation of quality products, limitation of raw materials and non-environment friendly products. At the same time, the impact of the Covid-19 pandemic and how the Russia-Ukraine war has created a shortfall in the raw material also have been highlighted. All the sources that have been used in this assessment are cross-checked and collected from a reliable source too. This also helps the researcher to conduct successful research.

References

• Bonaparte, Y.L., 2019. Sustainable outcomes of an experiential learning project in principles of marketing course. Journal of Global Scholars of Marketing Science, 29(1), pp.7-14.
• De Pallant, R., 2018. A time for principled action: The theory of principle-based marketing. A conceptual model and empirical validation.
• Dhingra, S., Ottaviano, G., Sampson, T. and Van Reenen, J., 2016. The impact of Brexit on foreign investment in the UK. BREXIT 2016, 24(2), pp.1-10.
• Duran, D.C., Gogan, L.M., Artene, A. and Duran, V., 2015. The components of sustainable development-a possible approach. Procedia Economics and Finance, 26, pp.806-811.
• Goldfarb, S., 2022. Why Are Gasoline Prices So High? Ukraine-Russia War Sparks Increases Across US.. [online] WSJ. Available at: <https://www.wsj.com/articles/why-gas-prices-expensive-11646767172> [Accessed 4 April 2022].
• Penning-Rowsell, E.C., Priest, S. and Johnson, C., 2014. The evolution of UK flood insurance: incremental change over six decades. International Journal of Water Resources Development, 30(4), pp.694-713.
• R?klaitis, K. and Pilelien?, L., 2019. Principle differences between B2B and B2C marketing communication processes. Organizacij? vadyba: sisteminiai tyrimai= Management of organizations: systematic research. Kaunas: Vytauto Didžiojo universitetas; Sciendo, 2019, T. 81.