Contemporary Issues in Marketing Management (Unit 41)
Contemporary
Issues in Marketing Management (Unit 41)
LO1 Understand the importance of relationship marketing in a
contemporary business context
1.1 explain the
concept of knowledge management and its role in relationship marketing
[Knowledge management: the growing importance of knowledge management as a key
tool in gaining and sustaining competitive advantage, analytical CRM
Marketing evolution: from production, transactions, consumer relationship
marketing (CRM) ethos, internal and external relationships, supply chain
relationships, increasing importance of customer retention rather than
acquisition, value chain analysis]
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1.2 explain the ways that
ICT can support the customer relationship management process in a particular
organisation
IT requirements in relationship
marketing: range of ICT tools, loyalty cards,
research capabilities, production online, access to customers; monitoring and controlling
projects and marketing plans, IT used in planning, scheduling and resourcing
activities within the plan
Benefits of relationship marketing: maximising customer equity, lifetime value of customer,
competitive environment, how the marketing mix supports relationships – brand
recognition – reference groups – consumer behaviours in relation to corporate
identity; issues of credibility, trust and commitment in relationships with
stakeholders
1.3 describe the
benefits of customer relationship management in a selected organisation
CRM:
grown out of relationship marketing approach, what CRM systems can do,
limitations and possibilities, integration with traditional methods, maximising
value for customer and organisation, how internet and digital technologies can
be used to enhance communications and relationships within channels and between
B2B partners, increasing social CRM, use of social media e.g. YouTube, Twitter
1.4 make justified
recommendations for the improvement in customer relationship management for a
selected organisation
LO2 Understand the role of marketing in non-traditional
contexts
2.1 carry out a
stakeholder analysis for a voluntary sector and a public sector organisation
Public sector: importance of growth of marketing concepts in the public
sector, mix of private, voluntary and public sector activity, public sector
objectives, marketing as satisfaction of customer needs at maximum levels of
efficiency, criticisms of marketing in public sector e.g. expense of branding initiatives,
use of resources
Voluntary sector: types of voluntary sector organisations, role of marketing
– customers, donors and beneficiaries of voluntary sector organisations;
budgeting and performance in voluntary sector organisations, use of different
marketing techniques e.g. direct methods, intervention marketing, virtual
marketing
2.2 describe the
nature of the relationships with customers within two selected not-for-profit
organisations
Customer
identification:
the nature of relationships with customers in not-for-profit organisations,
nature of message and methods of communication, customer benefit and
recognition, stakeholders in not-for-profit organisations, prioritising
stakeholder needs e.g. power/interest grid
2.3 compare methods
used in marketing within the public, private and voluntary sectors
2.4 explain the key
issues involved in marketing in a selected virtual organisation
Virtual
organisations: the importance of the e-commerce revolution,
online purchasing and production, particular aspects of relationships with
customers in virtual organisations, e-marketing mix, trends in virtual/real mix
of activities
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LO3 Understand the importance of applying the extended
marketing mix in the service sector
3.1 describe the use
of the extended marketing mix in a selected service sector business
Extended
marketing mix: people, processes, physical evidence; the development
of services management and marketing as a separate discipline
3.2 explain how the
product/service mix can be used to enhance value for the customer and
organisation
Service/product
mix: nature of services as intangibles, services
as added value to product mix, services within relationship marketing, service
sector growth, increasing importance of services in developed economies, globalisation
of services provision
3.3 explain how
difficulties peculiar to the marketing of services can be overcome with
reference to a particular organisation
Managing
the quality of services provision: customer perceptions
of quality, measurement of customer satisfaction levels, importance of customer
retention
3.4 explain the role
of IT in services marketing management in a selected organisation
Role
of ICT:
how ICT can be used to manage the process of marketing in the services industry
e.g. customer databases, capacity analysis, dynamic pricing, internal marketing
research
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LO4 Understand the reasons for the increasing emphasis on
ethics and social responsibility in marketing
4.1 explain some of
the current issues of ethical and social concern to marketers in a particular
industry
Ethical
considerations: business ethics, globalisation, international
marketing ethics, pressure group activity, environmental/ecological issues, international
protocols, sustainable marketing; ethics and responsibility in marketing
research
4.2 explain the
concept of CSR with reference to a particular organisation
Corporate
social responsibility (CSR): corporate reputation,
economic, legal, ethical and philanthropic social responsibilities; impact on
brand reputation
4.3 evaluate the role
played by a selected pressure group in influencing ethical and social marketing
policies for a selected organisation
4.4 evaluate the role
played by published or broadcast media in influencing ethical and social
marketing policies for a selected organisation
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