MKTG200 Principles of Marketing assignment sample UAEU  UAE

This course provides learners with the importance of marketing principles in organizations that deal with concepts, products, and services. It attributes marketing tools as elements in the marketing mix like promotion, product, price, and place. It addresses the ultimate consumers and buyers, and marketing strategies needed to meet their requirements.

It covers all types of marketing enterprises and topics such as services marketing and international businesses. MKTG200 Principles of Marketing utilizes both quantitative and qualitative measures to analyze and present data.

• Key Concepts of STP Model

The STP model (Segmentation, Targeting, and Promotion) has a strategic approach in marketing. Perhaps it is the most commonly-used marketing strategy in place. Experts acknowledge it as a streamlined and proficient communication tool.

 

 

Assignment solutions of MKTG200 Principle of Marketing assignment in UAE

STP focuses on commercial viability, highlighting important commercial factors.

It develops a marketing mix and marketing strategy for each section. With Martech, opportunities for positioning, segmenting, and marketing keeps on evolving.

Whether you’re newly introduced o STP or a seasoned veteran, you may need to assess the situation. Rethink about exploiting opportunities that come in your way to engage, convert and communicate with clients.

LO1 Role of Advertising in Marketing

• In today’s world of competition, organizations (irrespective of their nature and size) are investing whole-heartedly in Advertising. Advertising acts as a robust tool and helps to promote newly launched products in the market. It increases the sales and productivity of the brand.
• Advertising plays a crucial role in improving brand image. It makes the public aware of products available out there so that they can make thoughtful decisions about product purchasing.
• Advertising is an integral part of mass communication. Like other forms, there are ethical and social issues associated with it.
• Advertisements are meant for the public, and people relate themselves with the medium. So, one should know the positive and negative aspects of advertisements to understand their effect on the public.

 

 

LO2 Identifying the social and ethical issues in Advertising

• advertising is the ultimate source of income for mass media. Sometimes, it gets subjected to wide criticism. It gets criticized for its deceptive or manipulative nature. Criticism focuses on the environmental and social impact of online advertisements, the effect of advertising on stereotypes, commercial clutter, and offensiveness.
• Deceptive advertisements make use of misleading or false information. Since it has the power to convince people into transactions, local governments use regulations to curb misleading or false media promotions. People have the right to know what products they are purchasing. as such products should list all the relevant information.
• Nowadays advertisements are exaggerated and include lots of puffing. It seems like the solitary objective of the companies is to increase their sales, maximize their market share. They claim to manufacture the best products by presenting well-puffed, colorful commercials.

LO 2.1 Need of business ethics in promotions and marketing

This time it seems like the majority of the marketers lack knowledge of ethical standards and principles. They can’t understand whether a thing is right or wrong. It is why the number of deluding and false promotions is increasing day by day.

However, some sponsors are adhering to ethical principles and norms. When organizations comply with moral principles and standards, it makes the association credible for each of its activities.

It reduces the chances of getting pointed out by regulatory agencies or critics. It helps to instill trust among the consumers. Customers rely on the services and/or products promoted by the companies.

• LO 3. Understanding External And Internal Factors that influence Planning and Management.

Internal factors in Marketing Management

No matter if they are intangible or tangible, internal factors can be anything that’s controlled by the organization. Experts figure them out and classify them as weaknesses or strengths of a business. These are the internal factors that affect marketing management and planning within an organization.

• Organizational efficiency

Organizational effectiveness revolves around the process of improving your business processes. It includes activities leading to results.

Since productivity directly affects a company’s success, entrepreneurs need to know their business activities. Follow them to figure out whether they’re getting performed in the right way or not.

• Organizational Structure

Business proprietors need to think about setting up a framework to work seamlessly within the organization. Whether it is an incorporated or decentralized framework, the main thing is the effectiveness of the structure applied for the organization.

The mid-level management needs to ensure that the information gets conveyed to all clients. They need to make sure that proper is getting applied to maximize the benefits of employees and the business.

 

 

• External Factors

On the other hand, companies don’t have any control over external factors. External factors enable businesses to make suitable adjustments to marketing plans. It helps businesses to form flexible marketing plans.

• Financial Stability

Though it is an external factor, the economic situation is the most important factor determining the success of the organization. Vital factors like the fluctuation in RI, monetary crisis, firmly influences sales and the success of organizations.

No other external factors influence business more than the economic condition, indicating the current state of the economy. The economy goes through phases of contraction and relaxation. Thus, its condition changes in the long run. Positive economic conditions can be ideal for business growth. On the contrary, negative ones may produce adverse results. Negative effects may narrow down the business scale, bankruptcy, or capital shortage.

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