MARK 101: Principles of Marketing Assignment Sample NZ

Marketing is a necessary evil for any business, but not just because it’s an important part of running your company. It also provides value by attracting new customers and keeping existing ones happy with special offers or discounts allowing you to grow as the years go on. This sample will explore the definition of marketing as well as the competitive tradition involved with marketing. In this sample I will explore the factors that make the old-fashioned, “push-heavy” strategy not as successful as it once was.

The basic principles of marketing are to understand and satisfy the needs of a customer. A successful business will always look to find new and innovative ways to do this, through products, services, branding, and communication with customers.

It’s essential for a company to have a clear understanding of what it is that they offer the market, who their target market is, and what needs or wants their product or service address. Once these factors have been identified, the company can begin developing marketing strategies and plans that will help them reach its target market effectively.

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This unit will increase students’ knowledge and understanding of the subject. The following are some tasks that will be answered in this unit:

Assignment Task 1: Describe commonly used marketing concepts and terminology.

Marketing is the process of creating value for a company through the creation and distribution of products or services. It involves understanding customer needs and desires and then creating a unique offering that meets those needs.

The most common marketing concepts and terminology used today include:

Product positioning: The way in which a company presents its product in the market in order to make it appealing to consumers. This can involve differentiating the product from others in the category, emphasizing its unique benefits, or targeting a specific audience.

Market segmentation: Dividing up a market into different groups of people with shared needs or characteristics in order to better target marketing efforts. This can be done by dividing the market based on demographics (such as age, gender, income), geographic location, psychographics (lifestyle preferences), or other factors.

Target marketing: Focusing marketing efforts on specific groups of people who are most likely to buy.

Market research: Studying the market to learn more about the buying patterns of consumers or organizational needs.

Assignment Task 2: Summarize the main marketing tools of products and services, pricing, distribution, and communications.

The four main marketing tools are product, price, distribution, and communication.

Product refers to the goods or services itself; price is what the customer pays for the product; distribution is how the product gets to the customer, and communication is how information about the product is delivered to potential customers.

Each of these four tools can be used to achieve one or more of three marketing objectives: increase demand (by persuading more people to buy), increase market share (by persuading current customers to buy more), or increase profits (by persuading people to pay more for the product).

Assignment Task 3: Explain social responsibility and ethics, as they pertain to marketing.

Marketing is all about creating value for a company and its shareholders. But there’s a fine line between creating value and crossing ethical boundaries.

One key consideration is social responsibility, which is the idea that companies have a duty to consider the impact of their marketing activities on society as a whole. This might include things like protecting consumer privacy, avoiding misleading or deceptive advertising, and being aware of the environmental consequences of producing and shipping marketing materials.

Another important consideration is ethics, which is basically the morality of marketing activities. For example, is it ethical to use psychological tricks to get people to buy more stuff? Is it ethical to target children with advertising? There are no easy answers here, but marketers need to be aware of the potential consequences of their marketing practices.

Assignment Task 4: Describe marketing in New Zealand with respect to Pacific Basin and global perspectives.

Marketers in New Zealand must take into account the unique cultural and geographic factors that influence Pacific Basin and global perspectives. For example, a campaign that might be effective in the United States might not be as successful in New Zealand because of the country’s large Maori population. Likewise, a marketing strategy that targets Chinese consumers would need to take into accounts the cultural values and preferences of that audience.

Marketing is also becoming more globalized, with companies increasingly targeting consumers in multiple countries around the world. In order to be successful, marketers must understand how cultural differences can affect consumer behavior. For example, a product that is popular in one country may not be as successful in another because of differences in preferences or purchasing power.

The globalized nature of marketing also creates challenges for marketers, who need to take into account the safety and political sensitivities in different countries.

Assignment Task 5: Analyze marketing problems associated with the processes involved in making marketing decisions and present coherent solutions to such problems.

One of the key problems faced by marketing teams is that they are often disconnected from the research and development (R&D) teams who are responsible for creating new products. As a result, marketing teams can sometimes be presented with products that have already been developed and may not be well suited to the current market conditions.

Another problem faced by marketing teams is making decisions quickly in order to stay ahead of the competition. In some cases, this can lead to rushed decisions that may not be in the best interests of the company or its customers. A good example of this is when companies launch new products before they are ready, only to withdraw them a few months later after customer feedback reveals serious problems with them.

Finally, another common problem faced by marketing teams is that they rely too heavily on current data and trends to make their decisions, which can lead to them missing important opportunities.

Assignment Task 6: Organize and explain processes involved in the preparation of marketing strategies and plans.

There are many processes involved in the preparation of a marketing strategy, but some of the most important ones are market research, target market identification, and competitive analysis.

First, it’s important to do some research on the market in which you hope to compete. This includes studying demographic data to identify your target market, as well as analyzing your competitors’ strengths and weaknesses. Once you have a good understanding of the market landscape, you can start developing your marketing strategy.

Your strategy should include specific goals and objectives, as well as a plan for how you will achieve them. It’s also important to set realistic timelines and budgets so that you can track your progress and make necessary adjustments along the way. Finally, once your strategy is in place, you can start implementing it by using tools such as search engine optimization, social media, email marketing, and blogging.

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