MKT501 Marketing Management Assessment Answers

MKT501 Task Answers

This MKT502 course mainly offers the student with an understanding of management of different aspects related to marketing. Marketing in itself is an opportunity that is taken based in the enterprise for any given organisation. Marketing is thus itself is done by the organisations to mainly understand the customers of a given company and also have a keen understanding of the market in which the company wants to perform.

Thus, MKT501 marketing management in simple words is aimed at recognizing, developing and identifying markets. In addition, it is also concerned about the entering new market spaces and aligning the available resources of the company based on the needs of the market and the main purpose of doing the same is mainly to fulfil the goals that were set by the company. This course would mainly present the students with an understanding about the key ideas and theories which are extremely important for marketing the organisation or marketing for the organisation.

This course would also provide the students with a clear understanding about the philosophies pertaining to marketing and they also happen to be extremely important for the activity of the organisation. The students in this course would indulge themselves in investigating about the origins of marketing and also about the way in which marketing in general can be contextualised with respect to the organisation and present the organisation as a platform which can be aligned to the goals of which are initially set by the organisation based on the demands that the company has been seeing for themselves within the market space.

This course would mainly support the students in exploring the different issues that is faced by an organization within the market and not only that it would also help the students in finding the necessary solution for the issues that have arisen. It will also help the students in exploring and finding solutions for the issues related to contemporary marketing in the environment that existed currently.

In short, the students get a clear understanding about the market and in addition they also know how to closely analyse the market in which the company has been working in. This course will end after having evaluated the ability of the student to apply the concepts that is learnt by them.

Unit Details:

Location: Australia

Study Level: Postgraduate and Undergraduate

Unit Code: MKT501

Brief of Assessment:

The entire assessment is mainly segregated into two parts where the first part aims to inform the students about all the theories, concepts and framework which are applicable in creating a marketing management project. The assessment would have a clear description about the key words and the various factors that are related to marketing. It would also point out clearly the relationship that is shared between different marketing aspects.

In addition, it will also introduce the students to the existing frameworks and how this framework is useful. The students are also informed about the different theories and how each of these theories can help in management of the various market aspects. The first unit is thus simply based on the introduction of a number of important factors which is related to marketing and the aim for this unit is to help in gathering enough knowledge about marketing and management of various sources of marketing in general.

The second unit would mainly focus on ensuring that the students can apply the frameworks and theories on practical situations. In order to do the same this unit is further divided into two parts. The first part is mainly based on the creation of a marketing management report where the understanding of the students is brought under evaluation. The students are thus supposed to create a compact and concise report and then present it before their mentors.

The second part of this unit is the application of various theories and frameworks on various case studies which gives the student an understanding about how the various theories and concepts can be applied on different company and a number of varying situations. Thus, this unit is focussed at preparing the student in the practical sphere.

Weightage of the MKT501 Course Code in the Semester:

This course does hold importance when it comes to the entire semester. The credit points that are provided to this course is pretty high and this in itself clearly points out to the fact that this course is important within the semester and the reason for the same to a great extent is the fact that the students learn to assess and evaluate the nature of marketing and even the management of different elements of marketing within the contemporary organisations.

The students also learn the skill of segregating different types of information and thus include the important information only and eradicate the aspects which are not very necessary. The course also trains the student to identify the key aspects of the market by segmenting the entire market space which helps in identification and targeting of the entire market. In addition, the students also gain the ability to position the company and even analyse the approach of STP of other company which can give them an edge over the others. The students are thus equipped with the knowledge of applying different management and marketing tools not simply on case studies but also in real life situation.

This course thus helps the students to a great extent with the entire semester as the students gain an analytical view of the entire market and management process. This course thus helps in dealing with many other topics present in this semester related to marketing and management. Also, with the existing knowledge which is gathered from this course helps the students in finding solutions to very different situation and also carry out different marketing strategies in order to combat the critical situation. A number of new avenues are also opened before the students because of this course.

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