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MRK201 Marketing Mix

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In recent years our understanding of the basic building blocks of Marketing (the 4P’s of the Marketing Mix) has changed dramatically. This unit builds on students’ knowledge of the core principles of Marketing to develop an awareness of and application of the strategic planning role of Marketing in creating sustainable competitive advantage. The unit provides students with an understanding of the roles the major elements of the New Marketing Mix(Product, Price, Place, and Promotion) in the formulation of Marketing Strategy, how it has changed in the very recent past and how these e...

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Question Preview:

In recent years our understanding of the basic building blocks of Marketing (the 4P’s of the Marketing Mix) has changed dramatically. This unit builds on students’ knowledge of the core principles of Marketing to develop an awareness of and application of the strategic planning role of Marketing in creating sustainable competitive advantage. The unit provides students with an understanding of the roles the major elements of the New Marketing Mix(Product, Price, Place, and Promotion) in the formulation of Marketing Strategy, how it has changed in the very recent past and how these elements are integrated. Particular emphasis is placed on the integration of the basic 3tools of marketing communication and their role in the development of a Customer Relationship strategy to create sustainable competitive advantage. Integrated marketing communication requires a 'total' approach to planning marketing programs and coordinating internal and external marketing strategies in support of overall brand and product/service marketing objectives. Students will also learn to apply the New Marketing Mix in communication and implementation of a relationship strategy. Regulatory issues are also discussed. GRADUATE ATTRIBUTESGraduates of Stott’s College are expected to have Knowledge, Skills, and Abilities (KSA) on three different.

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Part A    

The plan of the project is to dwell on customer experience and bring the 7 important topics along with it which are marketing communication tools, media strategies, creative strategies, consumer behavior in communication process, measuring effectiveness of marketing communication, integrated marketing communications concept in setting promotional objectives and advertising budget and market segmentation and brand positioning as per marketing communication. It is done for presenting a literature review on customer experience. The structure of the literature review is also formed likewise. Title of 5 journals and 2 text books that we r going to use in assignment are as follows-Books-Reason, B., Løvlie, L. and Flu, M.B., 2015. Service design for business: A practical guide to optimizing the customer experience. John Wiley & Sons.Shaw, C. and Hamilton, R., 2016. The Intuitive Customer: 7 Imperatives For Moving Your Customer Experience to the Next Level. Springer.

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