Topic 18 – An Organisation's Marketing Strategy & its Effectiveness

Thanks! I just had another question. While calculating market share, I used figures released by the country’s department of statistics to get figures for total industry revenue. However, these figures were in the form of monthly reports, so I had to add up the figures for all the months to get the total revenue for the year, which I used to calculate market share. My question is should I include these calculations in my appendix spreadsheet, or is it enough to just reference the source i.e. the statistic department’s website? And if I should include them in my appendix, should I include them in an entirely separate workbook, or is it fine to include them in a new sheet in my current workbook?

Thank you! If I may ask one more question. I created my graphs in excel and then pasted them on word with the option to link the data, however, I’m a bit worried if this is the correct way to do it? Would it be better to maybe paste it as a picture to ensure that the data displayed will always stay the same when the marker is marking my project?

Also, once I’ve pasted these graphs onto my word document, should I delete these graphs from my spreadsheet?

Sorry if these questions are a bit pedantic, I just wanted to be extra careful.

The marker needs to be able to see the formulae in your actual spreadsheet because the requirements in the Assessment Criteris stipulate:
“a spreadsheet file (which incorporates and clearly demonstrates use of varied formulae).”

When it comes to the report you can insert charts as images

That looks like a very good approach.

In relation to answering Q3 & 4 you would also be referring to the Bank’s strengths and opportunities (though a full SWOT is probably not possible with the word count limitations) as part of drawing on and maintaining competitive advantage.

trephena wrote:That looks like a very good approach.

Thank you.. I know I am just starting part 1 and 2, I am curious about part 3, I have chosen a bank(local bank) and I am curious about the source of information, data. Where do I get the information from? I know I will not just type random search on Google!.

trephena wrote:This is what your research is about uncovering and will come from a variety of sources.

Thank you once again..
I have been reading this book- Principle of marketing by Philip Kotler. He highlighted some things regarding marketing mix (4).
For product – variety, quality, design, features, brand name, packaging and service
Price – list price, discounts, allowances, payment period
Promotion – advertising, personal selling, sales promotion, public relations, direct and digital
Place – channels, coverage, locations, inventory, transportation and logistics.

I guess I can focus on data search on the listed above points? I know that all won’t be relevant to bank. I can also use the examples you have given above on ‘people’ and ‘Process’

Hi. I am doing a fashion retail co for this topic using 7Ps and Porter 5 forces. May I ask for advice for

1) should comparator place within the same section as 7Ps or after analysis of 7Ps at part 3?
2) and I would like to confirm regarding assessing its effectiveness part, does compare to anything else related 7Ps such as sales, price or campaign over competitor will do? or any advice to assess its effectiveness? thank you.

Thank a lot, trephena.

IMO that would be inadequate analysis. ‘Product’ is not just a list of items a company sells it also relates to how the companies physically present their products to the consumer. For example with drinks this might be whether they come in bottles, cans, different sizes and multi-packs; for a car manufacturer it would be the differences within the same category of model – the basic and the deluxe model. It also would relate to product size and packaging [including artwork], how the company ensures its products look appealing and stand out from rival products and give the customer satisfaction

Therefore a more detailed analysis and evaluation is required to show that you have considered how each company anticipates and caters to its customers’ requirements and goes about making its products look attractive and appropriate to the customer’s wants and needs for the whole of the buying experience.

Remember marketing strategies are about fulfilling the customer’s desires and appealing to as many customers as possible and therefore your assessment of the 4 or 7Ps of marketing should be looking at how the company and some of its rivals compete with each other on 4 /7 elements – what they do the same or similarly and what they do differently.

Agreed – if a bank the product is the intangible services offered and therefore there is no visible product. Process and people involved in delivering the service to customers will be important (along with physical evidence -together forming the remaining Ps in the 7Ps).

Maybe feedback on social media will provide you with some way of comparing staff in the main bank and rivals. Also appearance -is there a corporate uniform to enforce corporate identity and promote the company image. Facilities -online services, customer service, helplines (times available and waiting times for example) are other aspects that may be compared in respect of process.

Please email me and I can do this. However the document is now a bit dated as it goes back a few years and the pass criteria are now higher so it is only a rough guide and should be used in conjunction with the latest assessment criteria

Hi Trephena,
On 7ps, I seem to be writing to much on the description of the marketing mix. I know I need to focus more on the analysis and evaluation. How do properly analyse and evaluation these marketing mix?

Thanks. These are the things I have considered before on place mix, the bank has over 400 branches in 7 countries, with over 4000 ATMs, thousands of POS machines, uses agency banking, e-banking. Will checking for ac, seating or overcrowding still be relevant here?
The only difference between this bank and other rival banks will only be the number of bank branches, ATM, POS