MANAGEMT7104 Marketing Management Assessment Answers

MANAGEMT7104 Task Answers

The course or the code that has been set here is all about the process of marketing and the management of marketing. For the students who are pursuing their post graduate in the field of marketing and management are eligible to enrol themselves in the course. Therefore in order to let the management students about the depth of marketing and its implication towards an organization this course has been incorporated. Marketing is one of the principles that match in all quarter and industries and for all agencies who are working on offering services and products to consumers. Reaching to the consumers with services is the important thing element for every business and for that one of the powerful approaches is the advertising.

The length in terms of traits does now not matter due to the fact even for a small entity and amount and company has to dependent on the market for the business revenue and earnings. The course has been associated with the university called “The University of Adelaide”. This module will extensively exhibit approximately distinct factors of advertising control and how efficiently that wishes to be included in a commercial enterprise will also be showcased within the following factors. In case of massive business groups, the obligation is inside the shoulder of advertising managers who are retaining their customers attached with the business enterprise for commercial enterprise transaction.

Unit Details:

Location: The University Of Adelaide, Australia

Study Level: Post Graduate and Undergraduate

Unit Code: MANAGEMT7104

Brief of Assessment:

In order to conduct marketing an organization needs to dependent on the macro and micro environment so that they can compare their strategies with the competitors in the business environment. Every organization throughout the globe is having certain plan to market their products and services and this is extremely called advertising and marketing management. Marketing does not only imply offering the services to clients, as alternative information the wishes and needs of the purchasers also are critical attention.

Another most important component in the market studies due to the fact without knowing the beyond and present circumstance of a market, if a company bounces into the marketplace then the risk of waste can be multiplied. Therefore understanding the market well based totally on past research is an important consideration to be taken care of through a company. Different macro and micro environmental consideration are showcasing below:

Macro Environment:

The external factors based on which an organization can dependent on their market environment is considered as Macro environment and in order to analyse the external consideration an organization can choose the tool called PESTEL which are going to elaborate as follows:

• Political: in order to expand a business in some other countries an organization needs to dependent on the political stability of that country. The tax policy is another consideration where based on the tax policies an organization needs to set their prices of the products and accordingly they can acquire raw materials from the local sources. The regular fluctuation of taxes can impact on the business revenue. In addition to that different trends and levels of corruptions are the other factors which can also have negative impact on business perspective.
• Economical: this is another external factors where an organization needs understand the stages of business cycle that the country is following and accordingly organization needs to plan or strategize in order to enter into the market. In addition to that the cost of labour are other factors, if the local labour charge more than the labour cost will be high and for that the organization needs to dependent on migrant workers who will charge less compared to host market.
• Social: the growth rate of population is one of the social factors and that is one of the positive factors for business because the more the population will be, the more an organization can have their target market. In addition to that based on the choice and lifestyle of people an organization can decide on marketing their new launched products.
• Technological: the more a country can spend on research and development, the more organizations will be attracted to enter into the market because they will have the opportunity to come up with new services and products to satisfy the needs of the consumers. In addition to that in this era of digitalization having proper stable internet facilities is another key consideration for an organization to run their business using online platforms.  
• Environmental: impact the environment less and working on sustainable operations can let an organization to run their business within a country in an effective way.
• Legal: keeping the data of consumer safe and running business in legal way is the key consideration in legal factors. Following the rules and regulations set by the government also falls under the legal factors for an organization.

Micro Environment:

In terms of micro environment an organization can consider the competitors with whom they will compete in the business world. In addition to that the consumers are the key stakeholders for whom the business is running and coming up with new services and products. Without having a strong consumer’s base an organization cannot have growth and revenue in the business environment. Along with that the suppliers who are supplying the raw materials for business and the workers for whom each and every activities are running also falls under the category of micro environment.

Weightage of the MANAGEMT7104 Course Code in the Semester:

This course will provide students with the possibilities to broaden the attributes about some particular areas which include deep discipline in terms of intellectual breadth and expertise. The study will ensure approximately vital and creative thinking with problem-solving inside the context of marketing control.

In addition to that, the module includes self-attention and emotional intelligence with moral competencies in the studies content at the side of the great of management in marketing control. The course also incorporated about macro and micro environmental conditions which are necessary for an organization to strategize for competing with the competitors in the competitive market.

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