NAME: NIGEL SAANA

SUBJECT:MARKETING, RESOURCE, AND STRATEGIC

MANAGEMENT IN PRACTICE

[Type the abstract of the document here. The abstract is

typically a short summary of the contents of the document.
Type the abstract of the document here. The abstract is
typically a short summary of the contents of the document.]

EDUQUAL SCQF LEVEL 11 DIPLOMA IN BUSINESS

MANAGEMENT
7/13/2022
TASK 1

This task constitutes 45% of the overall mark. 10% of the overall marks for any task must be
given to ‘Structure and Format’.
Select an organization with which you are familiar and assume that you are the
marketing executive of the organization. Your organization is considering
launching a new product/service, and the marketing manager has asked you to
deliver a presentation to the board. Your presentation must show how the new
product or service aligns with the current business strategy. Your presentation
must cover the following aspects:

1. Compare your organization’s value and mission statements with its current
business objectives. Within your answer you should:

 Explain the importance of strategic planning for an organization.

 Contrast differences in approach between profit and not-for-profit sectors.

 Devise and develop new goals and objectives for selected organization.

Strategic planning allows you to look at these business challenges. It gives you the

foresight you need to work together and approach them. It gives you a better idea of 
how your business will be affected by a particular problem, making it easier
to manage your future.

"For profit, we can raise money from private investors, which requires us to give our
shareholders stocks or dividends. Ultimately, we expect an investment return," she
writes. "On the other hand, nonprofits can solicit donations from individuals, foundations
and businesses. Strategic planning allows us to look at these business challenges. It's
you working together to get them. It gives you the foresight you need to approach. It
helps you manage your future because you can better understand how your business is
affected by a particular problem.

Think about what you want to achieve first, and then commit to it. Set SMART
(concrete, measurable, achievable, relevant, time-limited) goals and write them down to
motivate and feel specific. Then plan the steps needed to reach your goal and check
each one to reach your goal. 
Goal setting is a powerful process for thinking about your ideal future and motivating
yourself to turn that future vision into reality. 

The process of setting goals helps you decide where you want to go in your life.
Knowing exactly what you want to achieve will tell you where to focus. It also makes it
easy to quickly find potentially misleading distractions. 
Why set goals? Top athletes, successful entrepreneurs and top performers set goals in
all areas. Setting goals gives you long-term vision and short-term motivation. It focuses
on your knowledge acquisition and helps you organize your time and resources to get
the most out of your life. 

By setting clear and clear goals, you can measure and be proud of achieving those
goals and see progress in what previously seemed long and meaningless pain. You will
also gain confidence by recognizing your skills and abilities to achieve the goals you
set. "For-profit companies can raise money from private investors and in return they
need to give shareholders stocks or dividends. Ultimately, investment returns are
expected," she writes. "On the other hand, nonprofits can solicit donations from
individuals, foundations and businesses. Strategic planning allows us to look at these
business challenges. It's you working together to get them. Gives you the foresight you
need to approach. It gives you a better idea of how your business will be affected by a
particular problem, making it easier to manage your future.

REFERENCE

https://www.thealternativeboard.com › blog › 

SM: LO 1 (pcs 1.1, 1.2, 1.3)

2. Conduct a situational market analysis for your organization, including the

external factors that affect your organization, and assess how the opportunities
and threats you have identified relate to the organization’s strategic objectives
and competitive position. Your responses to this question should evaluate:

 How external factors (e.g. a change in government, and/or the needs and
expectations of shareholders) can affect the business strategy, marketing
opportunities and the competitive position of your chosen organization
 How the needs and expectations of stakeholders for your chosen organization
impact on its strategic business planning

External factors have a huge impact on the business strategy of the organization,
especially since these are inevitable and unexpected. These are some external factors
that affect business strategy

 Politics- The business strategy of the organization must be aligned and

compliant with the laws and legislation required by the Government so that
they can able to develop a good reputation. Take note that, this external
factor can’t be changed by the organization and all are required to follow it
for them to have a smooth and continuous operation.

 Competitors- By analyzing and studying competitors, organizations can

able to develop an effective business strategy wherein they can possibly
attain a competitive advantage in the industry.
  Demographic factors- By identifying the details such as age, nationality,
gender, etc, organizations can able to develop a strategy wherein they can
provide the needs of their target market and meet their expectation by
identifying relevant trends in the market.
 Natural factors- By considering this factor, the organization will be able to
include in their business strategy how they can save the earth by
practicing ecological friendly policies such as minimizing waste and
paperless policy.

External factors affect the business strategy of the organization in a way that helps how
they can achieve corporate growth and success. It helps organizations develop a
business strategy that will guide them on how to provide better service or products to
their target market by determining the trends in the industry and by studying their
market behaviors. It also helps the organization maintain their compliance to the
required by state laws and legislation such as the fair compensation of the employees,
safe workplace, and right pricing of the product and services. External factors change
rapidly so it is important to the organization to develop a business strategy that allows
them to adapt to the changes and for them to minimize the negative impact of the
change.
 
Other external factors are:

 Technological
 Economic
 Social
 Global
 Ethical

Reference:

9 External Environment Factors That Affect Business | Indeed.com

SM: LO 2 (pcs 2.1, 2.2); MMIP: LO 1 (pcs 1.1, 1.2, 1.3)

TASK 2

This task constitutes 45% of the overall mark. 10% of the overall marks for any task must be
given to ‘Structure and Format’.
Your board has approved the development of a marketing strategy for your new product
or service. They have asked you to develop a detailed report that focuses upon and
addresses the following key issues:

1. Review, using appropriate tools, the existing business plans and strategies for your
selected organization and identify the best options available for effective development of
their strategic planning. You also need to review the risks and competitive position for
your organization. You must justify the tools you have used. Then devise the outline
structure of a strategy plan for that organization and ensure your response covers:
• Stakeholders needs and expectations
• Resource requirements and constraints
• Communication processes to gain stakeholder commitment to the plan
• Monitoring and evaluation systems for the implementation of the strategy plan

 There are a number of ways to go about developing a strategy. One way is to

take an existing business plan and evaluate it for strengths and weaknesses.
Another approach is to use tools such as SWOT analysis (strengths,
weaknesses, opportunities, threats) or Porter's five forces assessment to
determine what factors affect the profitability of a company.

Step-by-Step explanation

  There are a number of ways to go about developing a strategy. One way is to

take an existing business plan and evaluate it for strengths and weaknesses.
Another approach is to use tools such as SWOT analysis (strengths,
weaknesses, opportunities, threats) or Porter's five forces assessment to
determine what factors affect the profitability of a company.
 In this case study, we'll be using SWOT analysis. SWOT stands for Strengths,
Weaknesses, Opportunities and Threats; these are all relevant factors that
should be considered when developing a strategy.
 Strengths: The organisation has been in operation for [number] years, with a
solid reputation for quality service delivery and customer satisfaction ratings of
[number].
 Weaknesses: Despite its reputation for quality service delivery, it still faces some
challenges in terms of competition from other organisations that provide similar
services at lower prices or with better customer service ratings. The organisation
needs to adjust its strategy so that it can compete effectively against these
competitors.
 Opportunities: There are several opportunities for growth for this organisation
due to its reputation for quality service delivery combined with an increasing
demand for its products/services in the market. 
 Threats: The main threat faced by this organisation is the possibility of losing
customers to its competitors. The organisation needs to be aware of this threat
and take steps to mitigate it.
  In order to develop the best marketing strategy for my new product or service, I
reviewed the existing business plans and strategies for [organisation name],
identified their best options, and devised a strategy plan.
 The first step in developing a marketing strategy is to understand what it is that
you're trying to do. In this case, I needed to find out what kind of product or
service they were selling, who their customers were, and what benefits they
offered.
  Next, I had to determine how much money they could afford to spend on
advertising. Once I had this information, I was able to determine how much time
and resources they would need in order to promote their product or service
effectively.
 Once these two steps had been completed, I was able to create a strategy plan
that focused upon the needs of [organisation name] while considering its
competitors and other factors such as customer satisfaction levels with current
products/services being offered by other companies within the same industry.

2. Use appropriate tools and techniques to identify* and propose a new product or
service. In your response you should evaluate the tools available to support your review
and select those that best help you to evaluate the risks and competitive position for
your organisation within its current market. Within your response you should use the
information from Task 1 regarding the strategic analysis of your selected organization’s
business strategies and also:
• Explain and compare market testing and selection techniques available to evaluate the
new product or service
• Evaluate the relevant ethical and CSR (Corporate Social Responsibility) issues for the
new product or service.

Answer:
There are many tools and techniques that can be used to identify and propose a new
product or service. The most important thing is to select the tools that best help you to
evaluate the risks and competitive position for your organization within its current
market.
 
Some of the techniques that could be used to identify a new product or service include
market research, customer surveys, focus groups, and competitor analysis. Once a new
product or service has been identified, it is important to test it in the market to see if
there is demand for it. This can be done through market testing methods such as beta
testing, A/B testing, and market simulations.
 
Once a new product or service has been identified and market tested, it is important to
evaluate the relevant ethical and CSR issues. Some of the issues to consider include
the impact of the new product or service on the environment, its potential to cause harm
to consumers, and whether it is socially responsible.

One of the most important aspects of launching a new product or service is

understanding the risks and competitive position for your organization within its current
market. There are a variety of tools and techniques available to support this review, and
it is important to select those that best fit the needs of your organization.
 
Some of the most common market testing and selection techniques include focus
groups, surveys, interviews, and competitor analysis. Each of these methods has its
own strengths and weaknesses, and it is important to select the one that will best
provide the information you need to make an informed decision about your new product
or service.
 
Focus groups are a common market testing technique that can be used to gather
information about customer needs and preferences. However, focus groups can be
expensive and time-consuming, and they may not be representative of the general
population.
 
Surveys are another common market testing technique. Surveys can be used to gather
information about a wide range of topics, including customer needs and preferences.
However, surveys can be expensive and time-consuming, and they may not be
representative of the general population.
 
Interviews are another common market testing technique. Interviews can be used to
gather information about a wide range of topics, including customer needs and
preferences. However, interviews can be expensive and time-consuming, and they may
not be representative of the general population.
 
Competitor analysis is another common market testing technique. This method involves
studying the strategies and products of your competitors in order to better understand
the market and your own competitive position. However, competitor analysis can be
time-consuming and may not always provide accurate information.
Reference:

https://www.entrepreneur.com/article/247574
https://www.business2community.com/marketing/4-steps-launching-new-product-service-01817291

MMIP: LO 4 (pcs 4.1, 4.2, 4.3)

3. Construct a detailed framework for an integrated strategic marketing plan and campaign for the
launch of your new product or service. Propose new product or service ideas and, in so doing, ensure
that you:
• Assess the value of models used in strategic marketing planning and communications
• Justify your chosen channels and techniques, and discuss their advantages and disadvantages
• Devise targets for your campaign using SMART objectives
• Select and justify the use of appropriate campaign channels
• Evaluate the plan and its success in meeting objectives and other essential requirements.
4. Construct a detailed framework for an integrated strategic marketing plan and campaign for the
launch of your new product or service. Propose new product or service ideas and, in so doing, ensure
that you:
• Assess the value of models used in strategic marketing planning and communications
• Justify your chosen channels and techniques, and discuss their advantages and
disadvantages
• Devise targets for your campaign using SMART objectives
• Select and justify the use of appropriate campaign channels
• Evaluate the plan and its success in meeting objectives and other essential
requirements.

The framework for a new product or service launch should include the following
elements:
 
1. Company/product/service background

2. Analysis

2.1 Inside

2.2. Outside marketing goals

4. Promotion Segmentation

4.2.1. Placement Mix marketing Product/service Price, Place, Promotion, People,

Processes, Physical Evidence, Implementation, Evaluation, and Control

1. Company/product/service background
Give a company and product/service overview. This section should include company
history, products/services, target markets, and competitive advantages.

2. Analysis
Situation analysis should describe the company's internal and external environment.

2.1 Inside
Internal environment analysis should consider company strengths, weaknesses,
opportunities, and threats. SWOT analysis provides this information.

2.2. Outside
The external environment analysis should consider the macro- and microenvironments
(competitors, customers, suppliers, and other stakeholders). PESTLE analysis can
provide this information.

Marketing goals
Specific, measurable, achievable, relevant, and time-bound marketing objectives
(SMART). They should align with business goals and be achievable within the
marketing plan's timeframe.

4. Promotion
The marketing strategy should outline how to achieve goals. It should consider the 4Ps
and 7Ps of marketing (people, process, and physical evidence).
Segmentation
Market segments should have similar needs and wants. Target market/s should be
segmented.

4.2.1.
Target market/s should be chosen based on company strengths, market needs, and
company goals.

Placement
The positioning strategy should be based on the target market/s, company strengths,
and market needs. Positioning statement should communicate USP.

Mix marketing
The marketing mix should meet target market needs and marketing goals.
Product/service
The product/service should meet market needs. It should be positioned based on the
company's strengths and target market/s needs.
5.2%Price should meet target market needs and marketing goals. Price strategies
should be used to ensure competitiveness and meet market needs.
Location Product/service should be available when needed. Use distribution channels to
reach the target market/s.
Promotion Target market/s benefits should be communicated through promotional
activities. Integrated promotional campaigns use promotional mix elements.

5. Marketing mix includes people. To deliver the product/service to the target market/s,
the right people must be recruited, trained, and motivated.
Procedures
The product/service should be delivered consistently and efficiently to the target
market/s.

5.7 Evidence Physical evidence should support product/service promotion and reinforce
the company's positioning in the target market/s.
Implementation the marketing plan should be organized. Set deadlines for each activity
and assign responsibilities to ensure the plan's success.

7. Controlling Regular evaluation and control should be done to ensure the marketing
plan is on track and goals are met. Plan tweaks as needed Channels and techniques
should be chosen based on their ability to reach the target market/s, communicate
effectively, and achieve marketing goals.
Advantages:
1. Market-specific channels and techniques exist.

2. Techniques and channels can reach a large audience.

3. Integrated marketing campaigns use channels and techniques.

4. Two-way communication channels and techniques exist.

5. Measurement channels and techniques exist. Costly channels and techniques.

Time-consuming channels and techniques.

3. Controlling channels and techniques is difficult.

4. Changable channels and techniques.

5. Coordinating channels and techniques is difficult.

Marketing campaign goals should be SMART. Specific, measurable, achievable,
relevant, and time-bound objectives are needed. They should align with business goals
and be achievable during the marketing campaign.
The campaign's success should be measured against its goals. Budget and timelines
are also important. Plan adjustments are needed to meet goals.

The following components should be taken into consideration when developing the
framework for an integrated strategic marketing plan and campaign for the introduction
of a new product or service:

1. The history of the company as well as its products and services

2. An evaluation of the situation

2.1. Internal environment

2.2. External environment

3. The goals of marketing efforts

4. Marketing strategy

4.1. Segmentation

4.2. Targeting

4.3 Location and Positioning

5. Marketing mix

5.1. The product or the service

5.2. Price 

5.3. Place 
5.4. Promotion 

5.5. People 
5.6. Processes 
5.7. Physical Evidence 
6. Implementation 
7. Evaluation and Control 
5.2. Price 
5.3. Place 
5.4. Promotion 
5.5. People 
5.6. Processes 
5.7. Physical Evidence 
6. Implementation 
1. The history of the company as well as its products and services
Give some background information on the company as well as the new product or
service that is being introduced. In this section, you should provide details about the
company's past, as well as its products and services, target markets, and competitive
advantages.
2. An evaluation of the situation
An overview of the internal and external environment in which the company operates
should be included in the situation analysis.
2.1. Internal environment
The analysis of the company's internal environment should take into account the
company's strong points and weak points, as well as any opportunities and threats that
are currently in play. The strengths, weaknesses, opportunities, and threats analysis
can be used to gather this information.
2.2. External environment
In the analysis of the external environment, both the macroenvironment (which includes
political, economic, social, and technological factors) and the microenvironment should
be taken into consideration (competitors, customers, suppliers, and other stakeholders).
An examination using the PESTLE framework is one way to acquire this data.
3. The goals of marketing efforts
The goals of the marketing campaign ought to be particular, measurable, attainable,
pertinent, and time-bound (SMART). They should be attainable within the timeframe of
the marketing plan, in addition to being aligned with the overall business objectives.
4. Marketing strategy
The marketing strategy ought to lay out the means by which the marketing goals will be
accomplished. The 4Ps of marketing, which are product, price, place, and promotion, as
well as the 7Ps of marketing should be taken into consideration (people, process,
physical evidence).
4.1. Segmentation
The market should be divided up into distinct subsets of consumers who share
characteristics such as interests and requirements. In order to determine which market
or markets should be targeted, segmentation criteria should be applied.
4.2. Targeting
The company's strengths, the requirements of the target market or markets, and the
company's goals should all play a role in the selection of the target market or markets.
4.3 Location and Positioning
The positioning strategy ought to take into account the target market or markets, the
strengths of the company, and the requirements of the target market or markets. The
company's one-of-a-kind selling proposition needs to be articulated in the positioning
statement, which should be developed to do so.
5. Marketing mix
Both the needs of the target market or markets and the goals of the marketing strategy
should be taken into consideration when developing the marketing mix.
5.1. The product or the service
The good or service in question ought to be developed in such a way as to cater to the
requirements of the target market or markets. It should be positioned in the market
taking into account the strengths of the company as well as the requirements of the
target market or markets.
5.2. Price
The price should be determined in such a way as to satisfy the requirements of the
target market or markets and to accomplish the goals of marketing. It is important to
employ price strategies in order to guarantee that the price is both competitive and
satisfies the requirements of the target market or markets.
5.3. Place
It is important for the product or service to be accessible at the appropriate time and
location. It is important to make use of various distribution channels in order to
guarantee that the product or service will be accessible to the desired market or
markets.
5.4. Accolades and Honors
The benefits of the product or service to the target market or markets should be
communicated to them through various promotional activities. When developing an
integrated promotional campaign, it is necessary to utilize elements of the promotional
mix.
5.55. Individuals
The most important component of the marketing mix is the target audience. In order to
successfully deliver the product or service to the specified market or markets, it is
necessary to recruit, train, and motivate the appropriate personnel.
5.6. Processes
There should be procedures in place to guarantee that the product or service will be
delivered in a manner that is both consistent with and effective for the target market or
markets.
5.7. Evidence that can be seen
It is important to make use of physical evidence in order to bolster the positioning of the
company in the minds of the target market or markets and to support the promotion of
the product or service being offered.
6. Implementation
The marketing plan ought to be carried out in a fashion that is both structured and
organized. In order to ensure that the plan is carried out successfully, deadlines should
be established for each activity, and responsibilities should be delegated to the
appropriate parties.
7. Evaluation and regulatory oversight
Evaluation and control activities ought to be carried out on a regular basis in order to
guarantee that the marketing plan is proceeding according to schedule and that the
goals are being attained. Wherever they are required, modifications to the plan should
be made. It is important to select marketing channels and strategies that are able to
successfully reach the target market or markets, are efficient in effectively
communicating the marketing message, and are able to realize the marketing goals.
Advantages:
1. Methods and channels can be tailored to the requirements of individual markets.
2. To communicate with a large number of people, various channels and methods can
be utilized.
3. An integrated marketing campaign can be created by utilizing a variety of channels
and methods.
4. Two-way communication can be established through the use of various channels and
methods.
5. Different methods and channels can be utilized in order to measure results.
Disadvantages: 1. Channels and techniques can be expensive.
2. Some methods and channels require a significant amount of time.
3. Controlling the channels and techniques can be challenging at times.
4. Modifying one's channels and methods of operation can be challenging.
5. It can be challenging to coordinate the use of different channels and methods.
SMART objectives should be used as a framework for developing the marketing
campaign's goals and objectives. The goals ought to be particular, measurable,
attainable, pertinent, and constrained by a certain amount of time. They should be
attainable in the allotted amount of time for the marketing campaign, in addition to being
aligned with the overarching goals of the business.
It is important to measure the effectiveness of the marketing campaign by comparing it
to the goals that were originally outlined. Other important requirements, such as the
timeline and the budget, should also be taken into consideration. To guarantee that the
goals will be accomplished, the plan should be modified as required in order to
accommodate any unforeseen circumstances.