Issues with Strategic Marketing Management

Issues with Strategic Marketing Management Introduction This course is designed to help you understand and learn advanced principles of marketing and is aimed at marketing managers, or professionals who are working in business or commerce. Who have perhaps a qualification in marketing and several years experience of working in a marketing role, or managers who would like to increase their marketing knowledge. Part of the courses assessment of learning will involve you in undertaking an assignment based on a marketing strategy plan carried out in your own company/organisation. You will be given detailed guidance and advice about this element of assessment later in this workbook. Aims of the unit The aim of the unit is to identify and discuss key issues associated with marketing principles. The course is focused on strategic principles of marketing, which form an essential underpinning to an understanding of strategic marketing in action. The theoretical underpinning will be complemented by a series of short work-based activities. Objectives of the unit To equip you with the knowledge and skills to understand and interpret strategic marketing principles To provide you with practical experience of applying strategic marketing principles and preparing a strategic marketing plan within your own company/organisation. Learning outcomes On successful completion of this Unit you should be able to: Understand the strategic marketing process Recognise the importance of creating strategic advantage Produce a strategic marketing plan in your own company/organisation Understand the importance of developing a specific competitive position Strategic Marketing Management What does this workbook contain? This workbook contains a number of information and learning resources: Background and contextual information about strategic marketing management Key ideas, theories, concepts, structures, processes in relation to strategic marketing ‘Recall and review and ‘Activity points designed to engage you in reflection and action-focused thinking Case examples of strategic marketing in action Assessment You are required to write a 2,500-word assignment as follows: Prepare a strategic marketing plan for your own company/organisation, paying particular attention to creating and sustaining a competitive advantage over rival firms. Strategic Marketing Management How should this workbook be used? This workbook will direct your study throughout the learning experience. There are  six sections, designed to be studied sequentially. However, a good learning technique is to refresh your learning by re-reading, so you are recommend to read back and forth between sections whenever you feel the need. Each section deals with a different topic and, together with any associated activities, practical work or further reading, is designed to require approximately 20 hours of study. The workbook uses an interactive learning approach. This is achieved through the use of self-assessment questions and activities throughout the text. These will enable you to apply the concepts presented in the workbook and explore issues that extend your knowledge and skills. Preparing to use the workbook If you are new to the study of marketing and/or this study method, then we suggest it is worth you spending some time becoming familiar with its contents and approach to learning and development. This will enhance your own understanding of key ideas in strategic marketing management, and your ability to lead and facilitate the learning of others. Strategic Marketing Management Table of contents Title Page Unit 1 The strategic marketing process Objectives 5 Drivers of change 5 Corporate strategy/ Marketing interface 7 Strategic marketing plans 8 Summary 9 Unit 2 Marketing Information Systems Objectives 10 MIS and the use of strategic intelligence 10 Summary 14 Unit 3 Strategic intent Objectives 15 Strategic intent/vision and mission 15 Goals and objectives 17 Stakeholders 18 Summary 19 Unit 4 Creating strategic advantage Objectives 20 Approaches to developing strategic advantage 20 Alliances and networks 22 Declining and hostile markets 24 Strategic wear-out 25 Summary 26 Unit 5 Developing a specific competitive position Objectives 27 Strategic alignment process 27 Innovation and new product development 28 Strategic evaluation 31 Summary 32 Unit 6 Implementation and control Objectives 33 Implementation 33 Control 35 Summary 37 Strategic Marketing Management Unit 1 The core theme of this unit is the importance of market-led strategic change to ensure organisational success. Objectives By the end of this unit you will: Be able to discuss, and give examples of drivers of change Understand the relationship between corporate and marketing strategy Know the process and structure of marketing planning and be able to discuss the differences between strategic and tactical planning Drivers of change Change is inevitable and companies that wish to maintain a market-led approach must take into consideration both cyclical and evolutionary change when developing their marketing strategies. The rate at which the external environment changes varies according to the nature of the business but increasingly all organisations are facing escalating levels of change. Change is inevitable. To survive companies need to adapt and to convert the threats caused by the changing environment into opportunities in order to avoid strategic drift. Marks and Spencer is a prime example of a company that has not adapted to the changing customer demands and as a result has lost many of its loyal customer base. Case history Drivers of change Greenhalgh (2001) identifies the following drivers of change that have created challenges for companies over the last few years: Domestic businesses of any significance have become rare. They are now global, drawing on supply chains that transcend national boundaries and serving customers worldwide Customer expectations of quality have increased and are now applied to all goods and services, rather than just luxury goods Concern for the environment has become a major item on companies agenda. They now have to consider their environmental responsibility as well as their profits. Large institutional investors are exerting their influence on how organisations are managed Start-up companies play an important role in introducing innovative products and new ideas to the marketplace. Young, technologically-competent workers are drawn to these vibrant workplaces, making it harder for other companies to recruit and retain them Strategic Marketing Management Activity 1.1 Consider thedrivers of change outlined above. Identify the impact of these factors on your own company/organisation. What is strategy? The term strategy is probably one of the most used and often misunderstood terms in business. There is no universal definition of strategy and yet it is used extensively. Strategy has the same meaning whether we are discussing corporate, marketing, promotional or even advertising strategy: it is concerned with how we might achieve our objectives. The difference between each type of strategy relates to the level at which the strategy is being developed. Corporate strategy according to Johnson and Scholes (1999), is: â€Å"concerned with what types of business the company as a whole should be in and is therefore concerned with decisions of scope† whereas marketing strategy aims to transform corporate objectives into a competitive market position. The main role of marketing strategy is to differentiate products/services from those of competitors by meeting the needs of customers more effectively. Therefore, according to Drummond and Ensor (2001) marketing strategy can be characterised by: Analysing the business environment and defining customer needs Matching activities to customer needs Implementing programmes to achieve a competitive position relative to competitors Strategic management consists of three elements: Strategic analysis concerned with answering the question where are we now? This involves analysing the external environment, internal resources and capabilities and stakeholder expectations Strategic choice what are the options available and which is the most attractive? Strategic implementation often the most overlooked of strategy. It is concerned with allocating resources and turning the plans into action. This process can be as equally well applied to marketing strategy. Strategic Marketing Management The corporate strategy/marketing interface It is impossible to discuss marketing strategy without first putting it into the context of corporate planning. The relationship between corporate planning and marketing planning can best be explained by figure 1.1 below. It is helpful to think of these decisions sitting in a hierarchy with corporate planning at the top and marketing planning below it. The diagram also illustrates that, alongside marketing planning, plans should be developed for other functional areas of the business such as human resources management (HRM), logistics, and operations. The vision and mission will drive the overall direction of the company and the functional areas of business will all work towards achieving the corporate objectives. The vision and mission will be discussed in Unit 3 Strategic intent. Strategic Marketing Management Marketing strategy is concerned with three elements customers, competitors and internal  corporate issues as illustrated in Figure 1.2. Strategic marketing management has three major  phases: firstly, strategic analysis in order to answer the question where are we now? This will include external analysis of customers, competitors and the macro environment and internal analysis of corporate capabilities; secondly formulation of strategy in terms of creating and evaluating options and thirdly implementation where the strategies are translated into action. The three stages are not mutually exclusive and are not necessarily linear. In fact it is expected that there will be some feedback and amendments as the process progresses. Strategic marketing plans A strategic marketing plan is the means by which the strategy is communicated within the organisation. The structure and content of a strategic marketing plan will vary considerable between organisations. However, normally the following components are included: Current situation external and internal analysis Objective setting Strategy formulation Marketing programmes Implementation issues Control measures Strategic Marketing Management There is no one best format for a strategic marketing plan and organisations will develop their own frameworks that match the needs of their companies. Strategic marketing plans need to generate action and not just be filed away. They should also be sufficiently flexible to take into account the changing environment. Activity 1.2 Read a copy of your own organisations strategic marketing plan. Give your opinion on whether the strategies outlined in it have been actioned. Has the plan shown sufficient flexibility to take into account the changing environment. If the answer to 3. is no, how could the plan have been improved? Summary In this unit we have seen that: Organisations operate in a dynamic environment and therefore they have to take into consideration those external influences that will impact on their business. These influences are often referred to as drivers of change. In market-oriented organisations it is likely that marketing will be the largest contributor to corporate strategy. Corporate strategy is concerned with what types of business the company as a whole should be in, i.e. the scope of the business. Marketing strategy is concerned with transforming corporate objectives into a competitive market position. A strategic marketing plan is the vehicle by which the marketing strategy is communicated within the organisation. The structure and format of a strategic marketing plan will vary considerably between organisations. There is no one best structure. Strategic Marketing Management Unit 2 Marketing Information System (MIS) Introduction The focus of this unit is to understand how the use of marketing intelligence and key marketing information can assist marketing managers to produce an effective marketing information system which will assist marketing decision makers to return higher profits. Objectives Upon successful completion of this unit you will: Understand the strategic use of information Understand how a MIS can assist marketing managers to make key decisions Marketing information is a key requirement for any strategic marketing plan and therefore the development of effective management and marketing information systems is an important task for marketers. Senior marketing managers should not become too heavily involved in the details of the MIS and marketing research but should be concentrating on how to utilize the information in helping to understand the market and develop successful marketing programmes. Definition A Management Information System consists of people, equipment and procedures to gather, sort, analyze, evaluate and distribute timely and accurate information to marketing decision makers. The MIS begins and ends with marketing managers. First, it interacts with them to assess their information needs. Next, it develops the needed information from internal company records, marketing intelligence activities and the marketing research process. Information analysis processes the information to make it more useful. Finally, the MIS distributes information to managers in the right form at the right time to help them in marketing planning, implementation and control. Developing information The information needed by marketing managers comes from internal company records, marketing intelligence and marketing research. The information analysis system then processes this information to make it more useful for managers. Strategic Marketing Management Internal records Most marketing managers use internal records and reports regularly, especially for making day to day planning, implementation and control decisions. Internal records information consists of information gathered from sources within the company to evaluate marketing performance and to detect marketing problems and opportunities. The companys accounting department prepares financial statements and keeps detailed records of sales, orders, costs, and cash flows. The customer service department provides information on customer satisfaction or service problems. Research studies done for one department may provide useful information for several others. Managers can use information gathered from these and other sources within the company to evaluate performance and to detect problems and opportunities. Information from internal records is usually quicker and cheaper to get than information from other sources, but it also presents some problems. Because internal information was collected for other purposes, it may be incomplete or in the wrong form for making marketing decisions. For example, accounting department sales and cost data used for preparing financial statements need adapting for use in evaluating product, sales force, or channel performance. In addition, the many different areas of a large company produce great amounts of information, and keeping track of it all is difficult. The marketing information system must gather, organize, process and index this mass of information so that managers can find it easily and obtain it quickly. Marketing intelligence Marketing intelligenceis everyday information about developments in the marketing environment that helps managers prepare and adjust marketing plans. The marketing intelligence system determines the intelligence needed, collects it by searching the environment and delivers it to marketing managers who need it. Marketing intelligence comes from many sources. Much intelligence is derived from the companys personnel executives, engineers and scientists, purchasing agents and the sales force. However, company people are often busy and fail to pass on key information. It is important to realise that staff are intelligence gatherers, and they need to be trained to spot new developments and urged to report intelligence back to the company. The company must also persuade suppliers, resellers and customers to pass along important intelligence. Some information on competitors comes from what they say about themselves in annual reports, speeches, press releases and advertisements. The company can also learn about competitors from what others say about them in business publications and at trade shows. Or the company can watch what competitors do buying and analyzing competitors products, monitoring their sales and checking for new patents. Strategic Marketing Management Companies also buy intelligence information from outside suppliers. Dun and Bradstreet  is the worlds largest research company with branches in forty countries and a turnover of $1.26bn. Its largest subsidiary is Nielsen who sell details on brand shares, retail prices and percentages of stores stocking different brands. Marketing intelligence can work not only for, but also against a company. Kellogg used to allow the public to tour its plants but recently closed its newly upgraded plant to outsiders to prevent competitors from getting intelligence on its high tech equipment. Some companies set up an office to collect and circulate marketing intelligence. The staff scans relevant publications, summarizes important news and sends news bulletins to marketing managers. It develops a file of intelligence information and helps managers to evaluate new information. These services greatly improve the quality of information available to marketing managers. To summarise it is clear that a MIS has four main components: Internal records there is a wealth of information available within the organisation and it is essential that it is organised in such a way as to facilitate its usage. This may include sales data, customer orders, prices, stock levels, customer complaints, etc. Marketing research this is concerned with the systematic collection of information that is specific to a particular problem. For example, a piece of marketing research may be commissioned to investigate attitudes to a new advertising campaign. Marketing intelligence this may include any information that is collected on an ad hoc basis, such as competitor intelligence gleaned from the press, customer trends, registered patents etc. Marketing decision support systems the processes that convert the data into usable information. For example, statistical tools or modeling techniques. Activity 2.1 Write a short summary detailing how a MIS is used to support management decision making in your own company/organisation. Strategic Marketing Management Intelligence gathering: checking out competitors Competitive intelligence gathering has grown dramatically as more and more companies need to know what their competitors are doing. It is essential that managers are not myopic and spend time amassing information about their major competitors. Techniques that companies use to collect their own marketing intelligence fall into four major groups. Getting information from recruits and competitors employees Companies can obtain intelligence through job interviews or from conversations with competitors employees. According to Fortune magazine: ‘Companies send engineers to conferences and trade shows to question competitors technical people. Often conversations start innocently but engineers and scientists often brag about surmounting technical challenges, in the process divulging sensitive information. Getting information from people who do business with competitors Key customers can keep the company informed about competitors and their products. This information can be vital and can prevent a company from being left behind on product launches or price discounting strategies dreamed up by competing companies. Intelligence can also be gathered by infiltrating customers business operations. Companies can provide their engineers free of charge to customers. The close collaboration the engineers on loan enjoy with the customers design staff often enable them to learn what new products competitors are developing. Getting information from published materials and public documents Keeping track of seemingly meaningless published information can provide competitor intelligence. For example, the types of people sought in job adverts can indicate something about a competitors new strategies and products. Getting information by observing competitors or analyzing physical evidence Competitors can get to know competitors better by buying their products or examining other physical evidence. An increasingly important form of competitive intelligence is benchmarking, taking apart competitors products and imitating or improving on their best features. Companies should take advantage of publicly available information but they should avoid practices that might be considered illegal or unethical. Strategic Marketing Management With all the legitimate intelligence sources now available, a company does not have to break the law or accepted codes of ethics to get good intelligence. Activity 2.2 Write a short synopsis of how your own company/ organisation gathers intelligence on its competitors. Summary This unit has demonstrated that: Marketing intelligence is an essential component of an effective MIS Internal records are a vital source of information for marketing managers Senior marketing managers should be concerned with how to use the information generated from the MIS rather than with the details of the system Intelligence gathering can be carried out in various ways but it is important not to break the law or accepted codes of ethics Strategic Marketing Management Unit 3 Strategic intent Introduction The focus of this unit is to consider the aspirations and future plans of an organisation, and the components of a suitable mission statement and development of appropriate objectives. Objectives Upon successful completion of this unit you will: Be able to define the terms strategic intent / vision and mission statement Know the components of good mission statements Be able to discuss the development of appropriate objectives Strategic intent/vision and mission Strategic intent refers to the aspirations of an organisation rather than just its current activity. According to Aaker, strategic intent provides: â€Å"A long-term drive for advantage that can be essential to success. It provides a model that helps break the mould, moving a firm away from simply doing the same things a bit better and working a bit harder than the year before. It has the capability to elevate and extend an organisation, helping it reach levels it would not otherwise attain.† It is apparent that many organisations that have an appropriate and well-constructed vision are focused on the future and ways of continually attaining sustainable competitive advantage. A vision can help guide strategy, identify and maintain core competencies and provide inspiration and motivation to its managers and its employees by providing them with a sense of purpose. Hamel and Pralahad (1989) suggested that strategic intent combines: A dream that energizes the company (i.e. acts as a motivator) Implied stretch, (looks for new opportunities rather than relying on existing businesses) A sense of direction A sense of discovery Coherence to plans Definition Strategic intent/vision: The desired future state or aspiration of the organization. (Johnson and Scholes, 1999, p.243) Strategic Marketing Management Mission statements A mission statement is concerned with providing daily guidance rather than a vision of the future. According to Piercy (2000), in order for mission statements to contribute anything they must: Reflect an organisations core competencies and how it intends to apply and sustain them Be closely tied to the critical success factors in the marketplace Tell employees, managers, suppliers and partners what contribution is required from them to deliver the promise of value to the customer Definition Mission statement: A generalised statement of the overriding purpose of the organisation. (Johnson and Scholes, 1999,p241) Mission statements are influenced by a number of factors, such as the resource availability, the external environment, the core competencies of the organisation and the current preferences of its current chief executive and senior management. The extent to which the mission statement serves its purpose is influenced not only by the quality and relevance of the mission but also by how it is communicated to staff and other stakeholders. A successful mission statement is one that is wholly embraced and believed by staff. Just having a mission statement is insufficient, the staff must also buy into the idea. Drummond and Ensor (2001) suggest that successful mission statements should demonstrate the following characteristics: Credibility it must be realistic and believable Uniqueness not bland and generic Specific capabilities embrace core capabilities Aspirational needs to motivate individuals Activity 3.1 Write a brief critique of your own companys mission statement in the light of the above characteristics Strategic Marketing Management Goals and objectives The vision and mission provide guidance on the overall direction of an organisation. Objectives, whether corporate or marketing, are the expected outcomes of the strategy. Goals are often regarded as less specific than objectives and more difficult to measure. However, it is normally accepted that objectives should be SMART: Specific Measurable- expressed in quantifiable terms Acceptable to stakeholders Realistic- attainable Time bound- achievable within a certain time frame Definition Goals and objectives Goal general statement of aim or purpose Objective Quantification (if possible) or more precise statement of the goal (Johnson and Scholes, 1999,p14)) Activity 3.2 Critically review your companys key objectives using the SMART method There are many different types of objectives with which an organisation should be concerned. Drucker (1954) identified the following: Market standing e.g. market share objectives Innovation e.g. number of new products launched Productivity e.g. inputs compared with outputs such as increased sales whilst maintaining the same number of sales staff Physical and financial resources relating to the use of resources Profitability e.g. return on investment Manager performance and development performance criteria Employee performance and attitude loyalty Public responsibility e.g. reduce dependency on fossil fuels It is likely that many organisations will place greater weighting on some areas than others. For example, the Co-operative bank places great emphasis on their responsibility to the public in the form of their ethical banking policy. There may be a danger that some companies are preoccupied with productivity objectives and trying to improve the efficiency of existing activities without actually questioning whether they are doing the right things. Stakeholders A key consideration when developing strategic direction relates to an organisations various stakeholder groups. Stakeholders refer to all the different groups of individuals that are influenced and/or have influence on the activities of an organisation. Stakeholders have different expectations and can exert varying levels of influence over the organisation. It is important that organisations have a good understanding of the varying needs of their various stakeholder groups. There are three main groups of stakeholders: Internal stakeholders (employees, management) Connected stakeholders (suppliers, distributors, shareholders, customers) External stakeholders (community, government, pressure groups) Definition Stakeholders: Those individuals or groups who depend on the organisation to fulfil their own goals and on whom, in turn the organisation depends. (Johnson and Scholes, 1999, p213). The following figure illustrates an outline stakeholder map. Customers Banks/sources of finance Suppliers The local community Distributors Society at large Managers Employees Activity 3.3 Stakeholder map Draw a stakeholder map for your own organisation and consider the varying needs of each group and the implications on the organisations strategic direction. How does your organisation manage the differing expectations of each group? Strategic Marketing Management Summary This unit has shown that: Strategic intent relates to the aspirations of an organisation and is sometimes referred to as the organisations vision. An appropriate and well constructed vision can help guide strategy, identify and maintain core competencies and can act as a motivator for staff by providing them with a sense of purpose. Mission statements are more concerned with providing daily guidance rather than a vision of the future. They should reflect an organisations core competencies, relate to the critical success factors in the market and also inform employees and other stakeholders what contribution is required from them to deliver value to the customer. Issues with Strategic Marketing Management Issues with Strategic Marketing Management Introduction This course is designed to help you understand and learn advanced principles of marketing and is aimed at marketing managers, or professionals who are working in business or commerce. Who have perhaps a qualification in marketing and several years experience of working in a marketing role, or managers who would like to increase their marketing knowledge. Part of the courses assessment of learning will involve you in undertaking an assignment based on a marketing strategy plan carried out in your own company/organisation. You will be given detailed guidance and advice about this element of assessment later in this workbook. Aims of the unit The aim of the unit is to identify and discuss key issues associated with marketing principles. The course is focused on strategic principles of marketing, which form an essential underpinning to an understanding of strategic marketing in action. The theoretical underpinning will be complemented by a series of short work-based activities. Objectives of the unit To equip you with the knowledge and skills to understand and interpret strategic marketing principles To provide you with practical experience of applying strategic marketing principles and preparing a strategic marketing plan within your own company/organisation. Learning outcomes On successful completion of this Unit you should be able to: Understand the strategic marketing process Recognise the importance of creating strategic advantage Produce a strategic marketing plan in your own company/organisation Understand the importance of developing a specific competitive position Strategic Marketing Management What does this workbook contain? This workbook contains a number of information and learning resources: Background and contextual information about strategic marketing management Key ideas, theories, concepts, structures, processes in relation to strategic marketing ‘Recall and review and ‘Activity points designed to engage you in reflection and action-focused thinking Case examples of strategic marketing in action Assessment You are required to write a 2,500-word assignment as follows: Prepare a strategic marketing plan for your own company/organisation, paying particular attention to creating and sustaining a competitive advantage over rival firms. Strategic Marketing Management How should this workbook be used? This workbook will direct your study throughout the learning experience. There are  six sections, designed to be studied sequentially. However, a good learning technique is to refresh your learning by re-reading, so you are recommend to read back and forth between sections whenever you feel the need. Each section deals with a different topic and, together with any associated activities, practical work or further reading, is designed to require approximately 20 hours of study. The workbook uses an interactive learning approach. This is achieved through the use of self-assessment questions and activities throughout the text. These will enable you to apply the concepts presented in the workbook and explore issues that extend your knowledge and skills. Preparing to use the workbook If you are new to the study of marketing and/or this study method, then we suggest it is worth you spending some time becoming familiar with its contents and approach to learning and development. This will enhance your own understanding of key ideas in strategic marketing management, and your ability to lead and facilitate the learning of others. Strategic Marketing Management Table of contents Title Page Unit 1 The strategic marketing process Objectives 5 Drivers of change 5 Corporate strategy/ Marketing interface 7 Strategic marketing plans 8 Summary 9 Unit 2 Marketing Information Systems Objectives 10 MIS and the use of strategic intelligence 10 Summary 14 Unit 3 Strategic intent Objectives 15 Strategic intent/vision and mission 15 Goals and objectives 17 Stakeholders 18 Summary 19 Unit 4 Creating strategic advantage Objectives 20 Approaches to developing strategic advantage 20 Alliances and networks 22 Declining and hostile markets 24 Strategic wear-out 25 Summary 26 Unit 5 Developing a specific competitive position Objectives 27 Strategic alignment process 27 Innovation and new product development 28 Strategic evaluation 31 Summary 32 Unit 6 Implementation and control Objectives 33 Implementation 33 Control 35 Summary 37 Strategic Marketing Management Unit 1 The core theme of this unit is the importance of market-led strategic change to ensure organisational success. Objectives By the end of this unit you will: Be able to discuss, and give examples of drivers of change Understand the relationship between corporate and marketing strategy Know the process and structure of marketing planning and be able to discuss the differences between strategic and tactical planning Drivers of change Change is inevitable and companies that wish to maintain a market-led approach must take into consideration both cyclical and evolutionary change when developing their marketing strategies. The rate at which the external environment changes varies according to the nature of the business but increasingly all organisations are facing escalating levels of change. Change is inevitable. To survive companies need to adapt and to convert the threats caused by the changing environment into opportunities in order to avoid strategic drift. Marks and Spencer is a prime example of a company that has not adapted to the changing customer demands and as a result has lost many of its loyal customer base. Case history Drivers of change Greenhalgh (2001) identifies the following drivers of change that have created challenges for companies over the last few years: Domestic businesses of any significance have become rare. They are now global, drawing on supply chains that transcend national boundaries and serving customers worldwide Customer expectations of quality have increased and are now applied to all goods and services, rather than just luxury goods Concern for the environment has become a major item on companies agenda. They now have to consider their environmental responsibility as well as their profits. Large institutional investors are exerting their influence on how organisations are managed Start-up companies play an important role in introducing innovative products and new ideas to the marketplace. Young, technologically-competent workers are drawn to these vibrant workplaces, making it harder for other companies to recruit and retain them Strategic Marketing Management Activity 1.1 Consider thedrivers of change outlined above. Identify the impact of these factors on your own company/organisation. What is strategy? The term strategy is probably one of the most used and often misunderstood terms in business. There is no universal definition of strategy and yet it is used extensively. Strategy has the same meaning whether we are discussing corporate, marketing, promotional or even advertising strategy: it is concerned with how we might achieve our objectives. The difference between each type of strategy relates to the level at which the strategy is being developed. Corporate strategy according to Johnson and Scholes (1999), is: â€Å"concerned with what types of business the company as a whole should be in and is therefore concerned with decisions of scope† whereas marketing strategy aims to transform corporate objectives into a competitive market position. The main role of marketing strategy is to differentiate products/services from those of competitors by meeting the needs of customers more effectively. Therefore, according to Drummond and Ensor (2001) marketing strategy can be characterised by: Analysing the business environment and defining customer needs Matching activities to customer needs Implementing programmes to achieve a competitive position relative to competitors Strategic management consists of three elements: Strategic analysis concerned with answering the question where are we now? This involves analysing the external environment, internal resources and capabilities and stakeholder expectations Strategic choice what are the options available and which is the most attractive? Strategic implementation often the most overlooked of strategy. It is concerned with allocating resources and turning the plans into action. This process can be as equally well applied to marketing strategy. Strategic Marketing Management The corporate strategy/marketing interface It is impossible to discuss marketing strategy without first putting it into the context of corporate planning. The relationship between corporate planning and marketing planning can best be explained by figure 1.1 below. It is helpful to think of these decisions sitting in a hierarchy with corporate planning at the top and marketing planning below it. The diagram also illustrates that, alongside marketing planning, plans should be developed for other functional areas of the business such as human resources management (HRM), logistics, and operations. The vision and mission will drive the overall direction of the company and the functional areas of business will all work towards achieving the corporate objectives. The vision and mission will be discussed in Unit 3 Strategic intent. Strategic Marketing Management Marketing strategy is concerned with three elements customers, competitors and internal  corporate issues as illustrated in Figure 1.2. Strategic marketing management has three major  phases: firstly, strategic analysis in order to answer the question where are we now? This will include external analysis of customers, competitors and the macro environment and internal analysis of corporate capabilities; secondly formulation of strategy in terms of creating and evaluating options and thirdly implementation where the strategies are translated into action. The three stages are not mutually exclusive and are not necessarily linear. In fact it is expected that there will be some feedback and amendments as the process progresses. Strategic marketing plans A strategic marketing plan is the means by which the strategy is communicated within the organisation. The structure and content of a strategic marketing plan will vary considerable between organisations. However, normally the following components are included: Current situation external and internal analysis Objective setting Strategy formulation Marketing programmes Implementation issues Control measures Strategic Marketing Management There is no one best format for a strategic marketing plan and organisations will develop their own frameworks that match the needs of their companies. Strategic marketing plans need to generate action and not just be filed away. They should also be sufficiently flexible to take into account the changing environment. Activity 1.2 Read a copy of your own organisations strategic marketing plan. Give your opinion on whether the strategies outlined in it have been actioned. Has the plan shown sufficient flexibility to take into account the changing environment. If the answer to 3. is no, how could the plan have been improved? Summary In this unit we have seen that: Organisations operate in a dynamic environment and therefore they have to take into consideration those external influences that will impact on their business. These influences are often referred to as drivers of change. In market-oriented organisations it is likely that marketing will be the largest contributor to corporate strategy. Corporate strategy is concerned with what types of business the company as a whole should be in, i.e. the scope of the business. Marketing strategy is concerned with transforming corporate objectives into a competitive market position. A strategic marketing plan is the vehicle by which the marketing strategy is communicated within the organisation. The structure and format of a strategic marketing plan will vary considerably between organisations. There is no one best structure. Strategic Marketing Management Unit 2 Marketing Information System (MIS) Introduction The focus of this unit is to understand how the use of marketing intelligence and key marketing information can assist marketing managers to produce an effective marketing information system which will assist marketing decision makers to return higher profits. Objectives Upon successful completion of this unit you will: Understand the strategic use of information Understand how a MIS can assist marketing managers to make key decisions Marketing information is a key requirement for any strategic marketing plan and therefore the development of effective management and marketing information systems is an important task for marketers. Senior marketing managers should not become too heavily involved in the details of the MIS and marketing research but should be concentrating on how to utilize the information in helping to understand the market and develop successful marketing programmes. Definition A Management Information System consists of people, equipment and procedures to gather, sort, analyze, evaluate and distribute timely and accurate information to marketing decision makers. The MIS begins and ends with marketing managers. First, it interacts with them to assess their information needs. Next, it develops the needed information from internal company records, marketing intelligence activities and the marketing research process. Information analysis processes the information to make it more useful. Finally, the MIS distributes information to managers in the right form at the right time to help them in marketing planning, implementation and control. Developing information The information needed by marketing managers comes from internal company records, marketing intelligence and marketing research. The information analysis system then processes this information to make it more useful for managers. Strategic Marketing Management Internal records Most marketing managers use internal records and reports regularly, especially for making day to day planning, implementation and control decisions. Internal records information consists of information gathered from sources within the company to evaluate marketing performance and to detect marketing problems and opportunities. The companys accounting department prepares financial statements and keeps detailed records of sales, orders, costs, and cash flows. The customer service department provides information on customer satisfaction or service problems. Research studies done for one department may provide useful information for several others. Managers can use information gathered from these and other sources within the company to evaluate performance and to detect problems and opportunities. Information from internal records is usually quicker and cheaper to get than information from other sources, but it also presents some problems. Because internal information was collected for other purposes, it may be incomplete or in the wrong form for making marketing decisions. For example, accounting department sales and cost data used for preparing financial statements need adapting for use in evaluating product, sales force, or channel performance. In addition, the many different areas of a large company produce great amounts of information, and keeping track of it all is difficult. The marketing information system must gather, organize, process and index this mass of information so that managers can find it easily and obtain it quickly. Marketing intelligence Marketing intelligenceis everyday information about developments in the marketing environment that helps managers prepare and adjust marketing plans. The marketing intelligence system determines the intelligence needed, collects it by searching the environment and delivers it to marketing managers who need it. Marketing intelligence comes from many sources. Much intelligence is derived from the companys personnel executives, engineers and scientists, purchasing agents and the sales force. However, company people are often busy and fail to pass on key information. It is important to realise that staff are intelligence gatherers, and they need to be trained to spot new developments and urged to report intelligence back to the company. The company must also persuade suppliers, resellers and customers to pass along important intelligence. Some information on competitors comes from what they say about themselves in annual reports, speeches, press releases and advertisements. The company can also learn about competitors from what others say about them in business publications and at trade shows. Or the company can watch what competitors do buying and analyzing competitors products, monitoring their sales and checking for new patents. Strategic Marketing Management Companies also buy intelligence information from outside suppliers. Dun and Bradstreet  is the worlds largest research company with branches in forty countries and a turnover of $1.26bn. Its largest subsidiary is Nielsen who sell details on brand shares, retail prices and percentages of stores stocking different brands. Marketing intelligence can work not only for, but also against a company. Kellogg used to allow the public to tour its plants but recently closed its newly upgraded plant to outsiders to prevent competitors from getting intelligence on its high tech equipment. Some companies set up an office to collect and circulate marketing intelligence. The staff scans relevant publications, summarizes important news and sends news bulletins to marketing managers. It develops a file of intelligence information and helps managers to evaluate new information. These services greatly improve the quality of information available to marketing managers. To summarise it is clear that a MIS has four main components: Internal records there is a wealth of information available within the organisation and it is essential that it is organised in such a way as to facilitate its usage. This may include sales data, customer orders, prices, stock levels, customer complaints, etc. Marketing research this is concerned with the systematic collection of information that is specific to a particular problem. For example, a piece of marketing research may be commissioned to investigate attitudes to a new advertising campaign. Marketing intelligence this may include any information that is collected on an ad hoc basis, such as competitor intelligence gleaned from the press, customer trends, registered patents etc. Marketing decision support systems the processes that convert the data into usable information. For example, statistical tools or modeling techniques. Activity 2.1 Write a short summary detailing how a MIS is used to support management decision making in your own company/organisation. Strategic Marketing Management Intelligence gathering: checking out competitors Competitive intelligence gathering has grown dramatically as more and more companies need to know what their competitors are doing. It is essential that managers are not myopic and spend time amassing information about their major competitors. Techniques that companies use to collect their own marketing intelligence fall into four major groups. Getting information from recruits and competitors employees Companies can obtain intelligence through job interviews or from conversations with competitors employees. According to Fortune magazine: ‘Companies send engineers to conferences and trade shows to question competitors technical people. Often conversations start innocently but engineers and scientists often brag about surmounting technical challenges, in the process divulging sensitive information. Getting information from people who do business with competitors Key customers can keep the company informed about competitors and their products. This information can be vital and can prevent a company from being left behind on product launches or price discounting strategies dreamed up by competing companies. Intelligence can also be gathered by infiltrating customers business operations. Companies can provide their engineers free of charge to customers. The close collaboration the engineers on loan enjoy with the customers design staff often enable them to learn what new products competitors are developing. Getting information from published materials and public documents Keeping track of seemingly meaningless published information can provide competitor intelligence. For example, the types of people sought in job adverts can indicate something about a competitors new strategies and products. Getting information by observing competitors or analyzing physical evidence Competitors can get to know competitors better by buying their products or examining other physical evidence. An increasingly important form of competitive intelligence is benchmarking, taking apart competitors products and imitating or improving on their best features. Companies should take advantage of publicly available information but they should avoid practices that might be considered illegal or unethical. Strategic Marketing Management With all the legitimate intelligence sources now available, a company does not have to break the law or accepted codes of ethics to get good intelligence. Activity 2.2 Write a short synopsis of how your own company/ organisation gathers intelligence on its competitors. Summary This unit has demonstrated that: Marketing intelligence is an essential component of an effective MIS Internal records are a vital source of information for marketing managers Senior marketing managers should be concerned with how to use the information generated from the MIS rather than with the details of the system Intelligence gathering can be carried out in various ways but it is important not to break the law or accepted codes of ethics Strategic Marketing Management Unit 3 Strategic intent Introduction The focus of this unit is to consider the aspirations and future plans of an organisation, and the components of a suitable mission statement and development of appropriate objectives. Objectives Upon successful completion of this unit you will: Be able to define the terms strategic intent / vision and mission statement Know the components of good mission statements Be able to discuss the development of appropriate objectives Strategic intent/vision and mission Strategic intent refers to the aspirations of an organisation rather than just its current activity. According to Aaker, strategic intent provides: â€Å"A long-term drive for advantage that can be essential to success. It provides a model that helps break the mould, moving a firm away from simply doing the same things a bit better and working a bit harder than the year before. It has the capability to elevate and extend an organisation, helping it reach levels it would not otherwise attain.† It is apparent that many organisations that have an appropriate and well-constructed vision are focused on the future and ways of continually attaining sustainable competitive advantage. A vision can help guide strategy, identify and maintain core competencies and provide inspiration and motivation to its managers and its employees by providing them with a sense of purpose. Hamel and Pralahad (1989) suggested that strategic intent combines: A dream that energizes the company (i.e. acts as a motivator) Implied stretch, (looks for new opportunities rather than relying on existing businesses) A sense of direction A sense of discovery Coherence to plans Definition Strategic intent/vision: The desired future state or aspiration of the organization. (Johnson and Scholes, 1999, p.243) Strategic Marketing Management Mission statements A mission statement is concerned with providing daily guidance rather than a vision of the future. According to Piercy (2000), in order for mission statements to contribute anything they must: Reflect an organisations core competencies and how it intends to apply and sustain them Be closely tied to the critical success factors in the marketplace Tell employees, managers, suppliers and partners what contribution is required from them to deliver the promise of value to the customer Definition Mission statement: A generalised statement of the overriding purpose of the organisation. (Johnson and Scholes, 1999,p241) Mission statements are influenced by a number of factors, such as the resource availability, the external environment, the core competencies of the organisation and the current preferences of its current chief executive and senior management. The extent to which the mission statement serves its purpose is influenced not only by the quality and relevance of the mission but also by how it is communicated to staff and other stakeholders. A successful mission statement is one that is wholly embraced and believed by staff. Just having a mission statement is insufficient, the staff must also buy into the idea. Drummond and Ensor (2001) suggest that successful mission statements should demonstrate the following characteristics: Credibility it must be realistic and believable Uniqueness not bland and generic Specific capabilities embrace core capabilities Aspirational needs to motivate individuals Activity 3.1 Write a brief critique of your own companys mission statement in the light of the above characteristics Strategic Marketing Management Goals and objectives The vision and mission provide guidance on the overall direction of an organisation. Objectives, whether corporate or marketing, are the expected outcomes of the strategy. Goals are often regarded as less specific than objectives and more difficult to measure. However, it is normally accepted that objectives should be SMART: Specific Measurable- expressed in quantifiable terms Acceptable to stakeholders Realistic- attainable Time bound- achievable within a certain time frame Definition Goals and objectives Goal general statement of aim or purpose Objective Quantification (if possible) or more precise statement of the goal (Johnson and Scholes, 1999,p14)) Activity 3.2 Critically review your companys key objectives using the SMART method There are many different types of objectives with which an organisation should be concerned. Drucker (1954) identified the following: Market standing e.g. market share objectives Innovation e.g. number of new products launched Productivity e.g. inputs compared with outputs such as increased sales whilst maintaining the same number of sales staff Physical and financial resources relating to the use of resources Profitability e.g. return on investment Manager performance and development performance criteria Employee performance and attitude loyalty Public responsibility e.g. reduce dependency on fossil fuels It is likely that many organisations will place greater weighting on some areas than others. For example, the Co-operative bank places great emphasis on their responsibility to the public in the form of their ethical banking policy. There may be a danger that some companies are preoccupied with productivity objectives and trying to improve the efficiency of existing activities without actually questioning whether they are doing the right things. Stakeholders A key consideration when developing strategic direction relates to an organisations various stakeholder groups. Stakeholders refer to all the different groups of individuals that are influenced and/or have influence on the activities of an organisation. Stakeholders have different expectations and can exert varying levels of influence over the organisation. It is important that organisations have a good understanding of the varying needs of their various stakeholder groups. There are three main groups of stakeholders: Internal stakeholders (employees, management) Connected stakeholders (suppliers, distributors, shareholders, customers) External stakeholders (community, government, pressure groups) Definition Stakeholders: Those individuals or groups who depend on the organisation to fulfil their own goals and on whom, in turn the organisation depends. (Johnson and Scholes, 1999, p213). The following figure illustrates an outline stakeholder map. Customers Banks/sources of finance Suppliers The local community Distributors Society at large Managers Employees Activity 3.3 Stakeholder map Draw a stakeholder map for your own organisation and consider the varying needs of each group and the implications on the organisations strategic direction. How does your organisation manage the differing expectations of each group? Strategic Marketing Management Summary This unit has shown that: Strategic intent relates to the aspirations of an organisation and is sometimes referred to as the organisations vision. An appropriate and well constructed vision can help guide strategy, identify and maintain core competencies and can act as a motivator for staff by providing them with a sense of purpose. Mission statements are more concerned with providing daily guidance rather than a vision of the future. They should reflect an organisations core competencies, relate to the critical success factors in the market and also inform employees and other stakeholders what contribution is required from them to deliver value to the customer.

Third Industrial Revolution

Third Industrial Revolution based on Offshoring and Education It’s no doubt that our economy is changing and so is the world we live in. The major changes in our society stared off with the First Industrial Revolution. Many jobs changed from farm to factory beginning in the late 18th century. This was the largest revolution because it shaped the way we live today. The second revolution was the shift from manufacturing jobs toward service jobs. It’s believed that we are still in this shift. Now we are on the brink of a third industrial revolution which is due to the increase of technology.Often called the Information Age, the third revolution will require change as the first and second have before. However, it seems as if little changes have been made to accommodate the changing world. We are now facing the struggle of keeping jobs in the country and along with that comes the need to enhance our educational system. The two may not seem to work together, but they do. Impr ovement in education may change the way we off shoring our jobs. There has been suggested a few ways that could help improve United States and keep us on top instead of having other countries take our jobs.Alan S. Blinder is the Vice Chairman of the Board of Governors of the Federal Reserve System. He is the one that presented the idea of changing the way we educate our youngster to have them better prepared for the future. Researching his ideas and theories on how to solve the problem with education, I did agree with him on most of his theories. In the past the fight for our jobs was with computers and technology. Many jobs were being taken by computers, which resulted in many people being laid-off. We can’t deny that we do need computers and the improvement of technology makes our lives easier.We can’t â€Å"dumb down† our economy to keep jobs. People eventually had to accept the increase of computers and the facts that many jobs we needed to do, can now be do ne for us. We now have another force that’s taking our jobs, offshoring. Offshoring is taking over many companies and there is nothing we can do about it. The good deal of having someone do the same job for a lot less is too good of a deal for a company to pass up. For the heads of companies they love the idea, but for the average worker we have to compete with workers in India and Asia for jobs in our own country.Offshoring is no longer only limited to service jobs. It was thought that call centers and manufacturing companies were the jobs affected for foreigners taking their jobs, but with the increase in technology that is no longer the case. With the increase of offshoring, the jobs more aimed at leaving the country are impersonal jobs. By not needing face to face contact with customers, it makes it easier to have the job completed overseas. Offshoring is an event that we can prepare for, by better preparing the workforce for a new economy of work.Training the future need s to be different than in the past because we are emerging into a whole new era. The increase of computers causes an increase of impersonal jobs, which makes it easy to complete many services by electronic means. Blinder’s suggested, â€Å"We need to think about, plan, and probably redesign our educational system with the crucial distinction between personal service jobs and impersonal service jobs in mind. † Because many impersonal are the first ones being offshoring, the more personal jobs are the one staying in the country.We do need to help the future understand the change that is progressing around us. It does make sense that we need to change our educational system from one that was implemented over 50 years ago. Getting every school and college to change their curriculum will take time and work, but with an effective plan the need for change will eventually happen. The essential need for education needs to change. Learning about a careers that will be available years down the line, will help us be more prepared. Jobs that can’t be offshored or done by a machine will be the product of a new growing economy.Suggestions of ways to improve the educational system would be to include the following. To keep jobs we need to focus on the advancement of skills that cannot be outperformed by a computer or taken away by someone overseas. The thing that makes us American and different than any other culture is what we need to put emphasis on. Creativity, ingenuity, spontaneity, culture, interpersonal relations, etc. are factors that make us an individual and if these are applied into the education system it’s possible that we will gain more jobs back.Memorization seems to be something that many schools try to help develop, but that skill is something that a computer can very well accomplish better than the average worker could. Also by bringing in more group and interactive activities we could improve our personal skills. Just a few newer approaches to increasing the way we learn and information that we learn can help put us on the right track to keeping jobs that we could do better than a foreign country and we could be better prepared for jobs that won’t be offshored.Blinder stated as his main objective, â€Å"We need to focus on preparing more college students for the high-end jobs that are unlikely to move offshore, and on developing a creative workforce that will keep America incubating and developing new processes, new products, and entirely new industries. Offshoring is, after all, mostly about following and copying. Americans need to lead and innovate instead, just as we have in the past. Summary The increase of technology has Americans sending off our jobs overseas. We can compete with foreign countries and computers to keep more jobs in the U.S. One important factor to help us is to improve the way we are educating our future. We need to change the system implementing new ways to educate. We also n eed to change focus of the lesson and focus on new concepts that in the end can make us competitor with computers and foreign countries. Many people don’t know that change is needed and are perfectly fine with the system we have set up now. The ideas that Blinder suggested for us are just ideas that could possibly have us heading in the right direction for the future.Conclusions and Recommendations By using and implementing the information that Blinder has given will help to successfully keep the economy on track and not have it handed over to another country. The educational system we have now hasn’t been changed for many years and as the world is changing we also need to change along with it. Because sometimes it can be hard to adjust to change, and many people don’t like change getting the information publicized and persuading policy holders will speed up the progress for change.

Essay on Kenyan Race Relations - 1122 Words

South Asians, predominantly Indians, have a long history in Kenya and East Africa as a whole. They first migrated to east Africa in the 1890s for the building of the Ugandan railway, and then began to concentrate themselves in trade and professional occupations, such as doctors and bankers, thus meaning they were, and somewhat still are, integral to the socio-economic condition of Kenya. Historically however, race relations between black Kenyans and Asians have been acrimonious. The reasons for this are subject to debate. In general, Kenyans felt that they were marginalised by the domination of trade by Indians, leading to a relationship of envy between the two ethnicities. Furthermore, there was a popular view that the Asians were†¦show more content†¦Instead, Asians were on the whole willing to work much longer hours and operated more efficiently than African traders were ever able to6, meaning that the Asian dominance of trade was unavoidable. Therefore, although a main cause of the hostile race relations was the monopoly over trade that Asians held, this was not a deliberate act to undermine Africans. While the domination of trade created a general feeling of envy towards the South Asians, it was the illicit and corrupt actions of a few that led to the creation of an Asian stereotype, which contributed greatly to the acrimonious race relations throughout the period. When these incidences occurred, stories of them were spread around and embellished through word of mouth, the media, and the African government, which caused a general distrust of Asians amongst the indigenous population. This is illustrated by the scandal concerning the Mahindra and Mahindra company in the 1990s. 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The Federalist 51 Argumentative Essay - 1160 Words

Federalist 51 Argumentative Essay In order to have a stable government one must first be able to separate its powers equally among its members. James Madison explains how he wants the government to be broken down into three branches, the legislative, executive and judicial branch. This is the case in order to not give anyone more power than the other and to keep members from having little to no communication with members of other branches. Madison wrote Federalist 51 in 1788 in order to state his opinion on how he thinks the powers of government should be handled and distributed. He also talks about his concerns of what could happen if the government is not secure and the troubles that could occur. Madison while writing this essay is wanting to convey what he thinks a powerful government needs in order to survive and have as little problem as possible. He highlights on the powers of the legislative branch should and should not have. In this argument Madison is speaking of how the governments power should be given equ ally towards each branch because he believes that power can not be controlled by one branch alone. This applies to the security of power by dividing the legislative branch into smaller branches. What this does is separate the powers with the legislative branch into two smaller branches called The House of Representatives and the Senate, which has checks and balances between them. This was done because if one looks at all the branches as a whole they would see

Is Technology A Technological Upbringing - 1391 Words

A Technological Upbringing I stand on my feet with the intent to walk for the first time. Thankfully, my parents are there to help me stand... I looked as happy as any attention showered newborn could be, through a camera’s point of view at least. This month in Bloomfield, New Mexico, had been as eventful and exciting as ever. However, today there was yet another discharge of pride for my parents, but I did not know I was doing something so incredible. Suddenly I could speak; with the help of an unexpected aid, sending a sense of shock across my whole family tree. â€Å"He’s talking and walking now? He’s growing up so fast. We are all so proud,† my grandparents told my parents in a tone that seemed a slightly worried. My grandma had always worried about employing technology on children. There had been no evidence to show any repercussions of using online teaching websites, but she still could not trust it. I continued to learn more from the useful asset. My parents had never had mu ch to boast about, and this month had just brought two huge conversation pieces. How on earth could I go from not mumbling a single word to asserting two in such a short period of time? Everyone wanted to see me before I augmented more, but it could never be arranged, and time was flying. Sitting on a clock’s hour hand was amazing. Looking at a computer screen, I watched the knowledge shoot into my mind. I felt like an adhesive and every small detail was sticking into my brain. I felt larger, moreShow MoreRelatedViolence On The Rise Of Contemporary Society1275 Words   |  6 PagesViolence on the Rise Contemporary society has evolved around materialism due to an incessant rise of scientific and technological innovations. 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5 things you can do at University to improve your CV Free Essays

Aside from all the parties and socialising that you might get out of university, there will also be plenty of opportunities to get involved in activities outside of lectures and – god forbid – the pub! However, as daunting as this might seem, these opportunities could actually benefit your future employability; after all a university qualification only gets you so far – adding weight to your CV outside of your degree is essential. Boosting your CV can set you apart from other graduates and be the difference in getting you that job after you graduate. Here are five things you can do while at university that will improve your CV and employability prospects to a future employer. We will write a custom essay sample on 5 things you can do at University to improve your CV or any similar topic only for you Order Now 1. Join a sports team Perhaps an obvious one but a large percentage of students join sports clubs only to drop out after the first few weeks. But think about the benefits – no business wants to employ someone who has no personality or outside interests. Sport is a great way to showcase your ability to work as part of a team, to compete, and to give things a go. Sign up with a local netball, football, rugby or hockey team – either in the local community or with the university – as getting involved with a sports team will show a future employer that you have teamwork skills, commitment and endurance. Getting a spell in the first team, or as captain, will always look good on a CV as well. 2. Get involved with Student politics You might have noticed that, for a few weeks every year, universities all over the country become plastered with hundreds of posters and flyers, detailing exactly why you should vote for various members of the student body. Budding politicians and entrepreneurs might can use this opportunity to campaign for a Student Union position, as President or one of the many other roles. Campaigning and, hopefully, winning will demonstrate a drive to lead change and manage projects. Putting yourself in the frame for an official role can also make university life more interesting and is great for impressing employers if you are elected. The fact that you can make all your friends wear T-shirts with your face on is just a bonus. 3. Student media For anyone with the intention of going into the media world after university, getting involved with the university radio stations, film teams or newspapers can be the ideal proving ground. Startlingly, recent studies have shown that there are significantly more journalism graduates than there are entry-level jobs. This is why you need to set yourself apart, and working for a student newspaper or radio station – particularly if it’s in a position of power – can ensure that your CV will be placed on the top of any pile. Working with the student newspaper or radio station you can get practical experience and learn the techniques and skills that are invaluable when trying to get the attention of employers. Many universities also have dedicated TV channels now, so budding TV presenters can get a chance to cut their teeth in front of the camera. 4. Volunteer An easy way to make your CV more impressive and make a difference is by volunteering. Many agencies take on volunteers and there will also be volunteer societies at university. Volunteer work looks excellent on your CV as it throws you into many tasks you wouldn’t usually do, such as cooking, gardening or even customer service. This way you demonstrate that you’re able to learn new and transferrable skills. Volunteering also gives you the opportunity to build a network, possibly even in the field you plan to start your career in. A popular place to volunteer is with Nightline. Nightline provides emotional support to students in distress with phones manned throughout the night during term time when other specialist university welfare services are closed. As a volunteer you will receive all necessary training, and again it is perfect for displaying your communication skills, as well as showing the you are a genuinely kind and helpful person. 5. Part-time or casual work Aside from earning a bit of cash, working actual jobs provide useful experience and insights into the working world. They are helpful in presenting future employers with evidence of skills such as teamwork, working under pressure, dealing with people, and balancing the demands of work and life. How to cite 5 things you can do at University to improve your CV, Essay examples

Expert Marketing Dissertation Help

Introduction The purpose of this study is to understand the marketing factors that influence the decision making of Asian students to study in the Huddersfield University. The Huddersfield University is a reputed university in England and every year students from all across the world takes admission in this university. Every year a large volume of Asian students would take admission in foreign universities of America, Europe and Australia. These students take admission in foreign universities in search of quality education. The level of higher and professional education is not as good in emerging economies like India and China as in developed economies of England and USA (Tashakkori, 2009). There are lots of marketing and other factors that students have to analyze before they finalize the place to study. There would also be constraints like financial condition of the family, fee of the institute etc. that may decide the institute to which student may want to go for higher education. Typically the marketing factors can be explained from marketing mix perspective. The marketing mix constitutes of product, price, place and promotion that majorly determines the marketing factors affecting the decision of student (Creswell, 2011). The research would be carried down to figure out the elements of marketing mix and other marketing factors that shapes the decision of Asian students to study abroad. The marketing mix as perceived by student can be discussed as below: Product The product in question is the Huddersfield University. The product can be termed as an excellent product as the university is doing well for so many years. The institute is known to provide quality education with practical exposure. The university also has a pool of talented professors that are committed to provide quality education to students. The research seeks to find the relative position of the Huddersfield University among different international schools that exists as option for Asian students. Price One of the major concerns for Asian students is the concern of price. The institute fee may appear to be heavy on students pockets. The university does offer certain scholarship programs but then every student cannot get the scholarship. It can be said that price could be one of the decision making factors when Asian student decide the university where they want to take admission. The research would work to figure out the inter-relation between the fee of the institute and the decision of Asian students. Place The University is located in West Yorkshire. It is a prime location and the place or the location to the university provides and edge to the university. Asian students also have a charm about England and Asian students would certainly want to study in England. This, place element of the marketing mix is a supportive marketing factor for Asian students to decide upon their options. Promotion Typically universities are engage on two types of promotional activities. First one is the direct promotional activity in which universities promotes the campus and the educational programs directly to students. The other is the indirect channel of promotion in which universities uses the power of social media and Face book to reach to student. The research work would identify the direct and indirect method of promotion that can be used by Huddersfield University to attract Asian students. All the above factors would act as the base of the research work. The research would be carried out to figure out the combination of factors that actually influence the thought process and decision making of Asian student to study in Huddersfield University. Objective The three most important objectives of this research work can be listed as: 1.What are the marketing factors that influence the decision making of Asian students to study in the Huddersfield University? 2.What elements of marketing mix can be used to shape the decision making of Asian students when they are taking admission in foreign universities? What kind of promotional activities (as part of marketing objective) should be used by foreign universities such as Huddersfield University to attract the foreign students? All the above listed objectives would serve as the sole of the research project. The research would be carried out to complete the above listed objectives. In short it can be said that the single objective of the research work would be to identify and analyze the marketing factors that can be discussed with respect to the decision of Asian students to study and to complete their education in foreign universities. Literature Review A large amount of research is already being done on the factors (marketing and non-marketing) that influence the decision of Asian students. The students have to take this decision about their future at the time when they complete their school or any other professional education like engineering or diploma. Typically Asian students would go out to study higher education and professional course like MBA. (Turner, 2007, pp 113) has highlighted that price or the fee of the institution is the main factor that has a string influence on the decision of students. The authors highlighted that students may want to take admission in top class colleges but due to high fees student drop the idea and shortlist the colleges that falls into their reach. This research work has also taken the input from the study of (Salisbury, Paulsen Pascarella, 2012). These authors have highlighted the importance of study abroad for students from Asian countries. These authors studied the similarity among the Asian students who seek to take admission in the foreign universities. The authors also highlighted that England has become the favorable destinations of students studying abroad. This research work is inspired from the study of these authors. These authors have provided a credible source of information and knowledge. It can be said that the research work of these authors acted as the groundwork for this rsearch work. (Mertens, 2009) has highlighted that the scholarship is also one of the important factor that can shape the decision of Asian students. The scholarship may not come directly as one of the factor but it has a huge impact on the attitude of students. Authors have also highlighted that Asian students always find it difficult to fund their tuition fee for foreign universities like Huddersfield University. One of the options for students is to get the loan for the fee but it is not always easy and feasible to get the loan. Secondly the students also have to pay a heavy amount as interest on the loan. Therefore a large volume of student relies on the scholarship. The existing Asian student in the Huddersfield University has also acknowledged that scholarship is one of the most important reasons that shape their decision. (Waters, 2011) has highlighted an interesting point that marketing factors are not the only factors that can influence the decisions of students taking admission to foreign universities and at the same time the decisions of students is also influenced by the decision of their parents. (Niehaus, 2009) has highlighted that the universities should also focus on different elements of marketing mix in order to ensure that students from Asian countries get the value proposition out of the idea of studying in foreign universities. Authors have also highlighted that marketing factors can also be influenced by other factors that can have an impact on the decision making of the student. This other factors could be internal to student and his family. The study from literature suggests that student from Asian countries lists down the different factors that could shape their decision. These different factors are written down in a priority order. It can be said that these factors are then discusse d upon within the family before any final decision about the university is made (Morgan, 2007, pp 49). (Dunne , 2011, pp 162) has highlighted one of another model that could be used to decide upon the marketing factors influencing that persuade the decision making of Asian student. The marketing model used by these authors is the service gap model. The authors have highlighted that Asian students wants to get admission in those foreign universities where their perceptions can be meet out. The Service Gap model of service marketing suggests that there exists a difference between the customers expectations and the management perception of customers expectations. It is important for Huddersfield University or any other foreign university to bridge this gap. Typically the Asian students are in chance of opportunities to study in foreign universities. As far as level of education is considered, it is a common understanding that foreign universities in England, America and Australia provides a better level of education and therefore Asian students want to pursue education in the foreign uni versities like Huddersfield University. Experts have said that With the rapid pace of globalization, it is vital that all students have access to study abroad opportunities. Experiences and experience gained through studying abroad provide students with skills that are essential in today's interconnected world. The knowledge students acquire along with the academic experience will have a profound effect on their lives and careers (Murphy, 2010). The authors have highlighted the importance of studying abroad. The authors have also discussed the ways through which students decide upon their future. The literature suggests that many a times students are not sure about the universities that they want to take admission (Biber, 2010). Many a time Asian students would choose the university based on gut feeling and intuition. Therefore it is important to understand the complexities associated with the entire decision making process. Authors have also believed that the decision to study abroad could be the decision of the parents of students also. Therefore the marketing factors influencing the perception of parents should also be considered. The universities like Huddersfield University should be in a place to understand all the factors and players that can influence the entire decision making process of students studying abroad. Many experts have also believed that a systematic approach of research should be followed to complete the research objectives (Teddlie, 2007, pp 78). The complete research plan and methodology that would be followed as part of this project can be highlighted as: The above listed method of research work is a standard method of research that is being followed by researchers for different kind of research work. Methodology The methodology section is probably one of the most important sections of any research project. The success of this research work would be based on the ways research is carried out and the way data is collected. The methodology for this research work would include using both quantitative and qualitative methods. Traditional approach of research would suggest using one of the quantitative or qualitative methods. However the modern approach of research would suggest using mix methods of research in which a combination of quantitative and qualitative methods are used (Paulsen, 2011, pp 124). The research methodology for this project would involve a mixed method in which a combination of quantitative and qualitative methods would be used. Many definitions of mixed methods are available in the literature (e.g., see Johnson, Onwuegbuzie, Turner, 2007). For purposes of this project, mixed methods research will be defined as a research approach or methodology as: The essential goal of mixed methods research is to tackle a given research question from any relevant angle, making use where appropriate of previous research and/or more than one type of investigative perspective. A true and complete insight about the research objective can be achieved only when mixed methods are used. The mixed methods would also help to get a 360 degree view of the topic and eventually the research questions would be answered in more holistic and thorough way (Knafl, 2009, pp 209). To complete this research project, a combination of primary and secondary research would be done. The primary research for this project would include the following activities: The researchers would interact with the existing students of Huddersfield University from Asian background. The interaction would help the researcher to collect the raw data about the marketing factors. This data would be collected in an unbiased way and it is expected that all the respondents that would participate in this primary research would also provide an unbiased opinion. The primary research for this project would also involve collecting the data from the aspirants who want to take admission in the Huddersfield University. This data points would help researcher to figure the marketing factors that are being considered by these students. The objective of the researcher would be to collect and interpret this data in an unbiased way. The primary research for this project may involve collecting the data from the families of student or from the professors in the Huddersfield University. To conduct the primary research interviews would be done with the candidates. The researcher would develop the questionnaire and this questionnaire would be shared with all the participants (Vermunt, 2012, pp 303). The respondents would be expected to take part in the interview. A focus group study can also be done as a part of primary research to complete this research project. The existing Asian students of Huddersfield University would act as the candidate for focus group. The information collected from focus group study would also help researcher to make meaningful conclusions. The secondary research for this project would include the following activities: The journal articles and the past research would serve as an excellent source of information to complete this project. Researchers would be able to get good insight about the research topic from the past researches down about the topic. The secondary research for this project would also include collecting the data from secondary sources such as websites. The internet and different websites act as power house of information and a large amount of information is present on websites. The researcher has to be careful while using the information on websites as the information on all the websites may not be authentic and correct. Typically the time required to complete the secondary research is less than the time required to complete the primary research (Bryman, 2006, pp 98). In this case, the advantage of primary research would be that it would help to collect the accurate data from the existing and to be students. Also, it is less expensive to finish the secondary research as compared to primary research. This research project would also use a live case study from the existing student of the Huddersfield University. As a part of this case study, 3 to 4 Asian students would be selected from different countries like India and China. These students would be asked to list down the marketing factors that influenced their decision when they were taking admission in foreign university. The data collected from the live case study would help researcher to make useful conclusion and recommendations for this research. The live case study would also help researcher to conclude the research work. The data for the research work should be collected in a systematic way (Happ, 2010, pp 725). The scientific approach would be used to collect and analyze the data. The data that would be collected would be mapped with the research objective. The scientific tools and statistical method of analysis would be used to make meaningful conclusions from the data. Before any of that the collected raw data would be processed to adjust any biases. In the concluding remark it can be said that any research work is not free of issues. There are several challenges that have to overcome as part of this research. Some of the issues are theoretical and some are ethical in nature. It is important for researchers to understand all the issues related to research. One of the important ethical issues associated with kind of research work is to maintain the anonymity of respondents and participants. The responses provided by the respondents (student in this case) should not be used for any other work other than this research work. Timeline of study The research is an exhaustive project and it would take a considerable amount of time to complete this research. The timeline, along with the duration for each of the activity, for this research project can be mentioned as: WBS Tasks Start Date Duration(days) End Date 1 Literature Review 15/06/2014 60 15/08/2014 2 Data Analysis 15/06/2014 35 20/07/2014 3 Exploratory Research (Questionnaires) 21/07/2014 10 31/07/2014 4 Data Analysis (Questionnaires) 01/08/2014 20 20/08/2014 5 Exploratory Research (Interviews) 20/08/2014 45 05/10/2014 6 Data Analysis (Interviews) 22/08/2014 30 22/09/2014 7 Development of Analysis, further interviews where required. 23/09/2014 61 23/11/2014 8 Introduction, summary and editing 24/11/2014 31 24/12/2014 The researcher must be flexible throughout the project to apprehend the given work properly. Indeed the time plan is essential as it gives the overall view of deadlines. But there are certain situation in which a person is bounded with work and social commitments which affect the time plan and the submission deadline of project. Considering all the external work in the time plan and by making it more flexible and conciliatory the best possible results could be gain. The research plan for this research work would stick to the above timeline. There can be certain slight deviations from the duration of the above activities but on a high level the above timeline would be followed. References Brooks, R., Waters, J. (2011). Student Mobilities, Migration and the Internationalization of Higher Education.Palgrave Macmillan. Bryman, A. (2006). Integrating quantitative and qualitative research: How is it done?Qualitative Research, 6, 97-113. Creswell, J. W., Plano Clark, V. L. (2011).Designing and conducting mixed methods research.(2nd ed.). Thousand Oaks, CA: Sage. Hesse-Biber, S. N. (2010).Mixed methods research: Merging theory with practice.New York: Guilford. Johnson, R. B., Onwuegbuzie, A. J., Turner, L. A. (2007). Toward a definition of mixed methods research.Journal of Mixed Methods Research, 1(2), 112-133. King, R., Findlay, A., Ahrens, J., Dunne, M. (2011). Reproducing advantage: the perspective of English school leavers on studying abroad.Globalisation, Societies and Education,9(2), 161-181. Marambe, K. N., Vermunt, J. D., Boshuizen, H. P. (2012). A cross-cultural comparison of student learning patterns in higher education.Higher Education,64(3), 299-316. Mertens, D. M. (2009).Transformative research and evaluation. New York: Guilford. Morgan, D. L. (2007). Paradigms lost and pragmatism regained: Methodological implications of combining qualitative and quantitative methods.Journal of Mixed Methods Research, 1(1), 48-76. Morse, J., Niehaus, L. (2009).Mixed method design: Principles and procedures. Walnut Creek, CA: Left Coast Press O'Cathain, A.O., Murphy, E., Nicholl, J. (2010). Three techniques for integrating data in mixed methods studies.BMJ,341:c4587 Sandelowski, M., Voils, C. I., Knafl, G. (2009). On quantitizing.Journal of Mixed Methods Research, 3(3), 208-222. Salisbury, M. H., Paulsen, M. B., Pascarella, E. T. (2011). Why do all the study abroad students look alike? Applying an integrated student choice model to explore differences in the factors that influence white and minority students intent to study abroad.Research in Higher Education,52(2), 123-150. Song, M., Sandelowski, M., Happ, M. B. (2010). Current practices and emerging trends in conducting mixed methods intervention studies in the health sciences. In: A. Tashakkori C. Teddlie (Eds.),Handbook of mixed methods in social behavioral research(2nd ed., pp. 725-747). Thousand Oaks, CA: Sage. Teddlie, C., Tashakkori, A. (2009).Foundations of mixed methods research: Integrating quantitative and qualitative approaches in the social and behavioral sciences. Thousand Oaks, CA: Sage. Teddlie, C., Yu, F. (2007). Mixed methods sampling: A typology with examples.Journal of Mixed Methods Research, 1(1), 77-100.