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Marketing Management Assignment: Digital Communication issues and Stakeholder Analysis

Question

This is by no means meant to be prescriptive but rather just to give you an idea of what the Assessment 1 Part B should look like and what we are expecting to read about in each section. Following this structure will allow you to improve your marks from Assessment 1 Part A and help to indicate where you have lost marks. If you have any questions, please ask them in your tutorial class.

Answer

Article: Marketers from Sainsbury’s, Direct Line, Debenhams and more share their predictions for 2019

Introduction: With the passage of time, the marketers are observing that the market approach and the trends are constantly changing (Hair & Lukas, 2014). The competition level is increasing with the changing demands of the customers. Therefore, in order to develop the business in the marketplace most of the renowned business organizations are focusing much on the recent trends.

Marketing Issues: Companies like Sainsbury, direct line group and Debenhams are facing several challenges to develop the business in the market. The companies are unable to predict and justify the level of investment. It is becoming much tough for the businesses to perform effectively to meet up both short term as well as long term goals. The companies are facing challenges to develop the right decisions for the business growth and development (Armstrong et al., 2015). The main problem is that the companies are unable to identify the exact needs and choices of the targeted customers in the market. In the future big companies will be mainly focusing to achieve both long term and short term goals, by enhancing the customer experience level (Parsons, Maclaran, & Chatzidakis, 2017). Moreover, they will be focusing to develop the customer relationship through online and offline both. Through this they can easily engage the customers with the business organizations and its product and services.

In order to assess the marketing issues 7p’s of marketing tools has been used. The company is unable to develop product and services as per the demands of the customers. Due to this the marketers of the companies are unable to adopt the best effective pricing strategy. The companies need to select the right distribution channel to reach the buyers in the market. It is becoming much difficult to adopt the right promotional strategies to promote the business (Khan, 2014). In order to increase the reach the company needs to focus much on physical evidence. The organizational employees are not that enough skillful to perform the business operation in the right way. For the business expansion right partners need to be chosen by the organizations. Sainsbury, direct line group and Debenhams needs to consider 7P’s in order to develop the right business strategies and approach for the development.

Important stakeholders: In the present scenario, the stakeholders play one of the effective roles in the growth and development of the business (Wirtz & Lovelock, 2016). . The stakeholders directly create an impact on the organizational objectives, action and policies. The major stakeholders are the directors, employees, investors, employees, government, suppliers, creditors and union (Henisz, 2017). It is being observed that the business organizations are highly depended on the stakeholders to meet up the business goals.

Stakeholders

Positive impact

Negative impact

Investors

Will help to develop the business in the future

Increase in the competition level can create an adverse impact on the market share

Employees

Can improve the overall performance level of the business

Immense pressure can harm performance level

Government

Can encourage the companies to develop the trade more in the market

Can restrict the companies by law during business expansion

Suppliers

Can deliver best quality raw material to the companies through negotiation

Can easily increase the value of the raw materials

Recommendations:

  • The companies needs to develop a proper business framework in order to meet the developed business goals and objectives
  • Needs to develop proper business strategies based on the present market situation and competitors performances
  • Needs to develop proper goods and services as per the customers need
  • Needs to focus on the investment level for trade expansion
  • developing proper relationship with the customers through engagement
  • Needs adopt proper technology for product innovation
  • Focusing much on distribution channels and promotional activities for customer reach

Reference list:
Armstrong, G., Kotler, P., Harker, M., & Brennan, R. (2015). Marketing: an introduction. Hair Jr, J. F., & Lukas, B. (2014). Marketing research (Vol. 2). McGraw-Hill Education Australia.

Hanssens, D. M. (2018). The value of empirical generalizations in marketing.

Henisz, W. J. (2017). Corporate diplomacy: Building reputations and relationships with external stakeholders. Routledge. https://www.marketingweek.com/2018/12/20/marketers-sainsburys-debenhams-kodak-predictions-for-2019/

Khan, M. T. (2014). The concept of'marketing mix'and its elements (a conceptual review paper). International journal of information, business and management, 6(2), 95.

Parsons, E., Maclaran, P., & Chatzidakis, A. (2017). Contemporary issues in marketing and consumer behaviour. Routledge.

Parsons, E., Maclaran, P., & Chatzidakis, A. (2017). Contemporary issues in marketing and consumer behaviour. Routledge.

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Marketing Management Assignment

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