LO1 Understand the principles of strategic marketing management
1.1 Discuss the role of strategic marketing in an organization
1.2 Explain the processes involved in strategic marketing
1.3 Evaluate the links between strategic marketing and corporate strategy
LO2 Understand the tools used to develop a strategic marketing strategy
2.1 Assess the value of models used in strategic marketing planning
2.2 Discuss the links between strategic positioning and marketing tactics
2.3 Analyse the merits of relationship marketing in a given strategic marketing strategy
LO3 Be able to use strategic marketing techniques
3.1 Use appropriate marketing techniques to ascertain growth opportunities in a market
3.2 Plan how to use marketing strategy options in a market
3.3 Create appropriate strategic marketing objectives for a market
LO4 Be able to respond to changes in the marketing environment
4.1 Report on the impact of changes in the external environment on a marketing strategy
4.2 Conduct an internal analysis to identify current strengths and weaknesses in a marketing strategy
4.3 Propose strategic marketing responses to key emerging themes in a marketing strategy
Scenario: Choose an organization (either the one you are working with or any other organization of your choice) and assume that you are the marketing manager of the chosen organization. You have been asked to write a report, to be presented to the board of directors, on how a strategic marketing plan should be developed and managed in the organisation.
Note: Choose a specific product / for your chosen organization. If your chosen organization has (n) products or services, it is enough you prepare the report based on a specific product / service among them of your choice.
- Executive Summary
- Introduction of the Chosen Organization
- Explain the role of strategic marketing, the marketing process involved and evaluate how the marketing strategies can be linked to the corporate strategy of the chosen organization.
- Discuss and assess the value of two models that contributes to strategic marketing planning. The report should include discussion and assessment of Porter’s Five Forces Model and PESTLE Analysis).
- Discuss the STP (Segmentation, Targeting and Positioning) options and explain how they can be linked to the proposed marketing tactics.