LCMB7024 Marketing Management L7 Assessment 1 Brief | University of Wales

Published: 17 Mar, 2025
Category Assignment Subject Management
University University of Wales Module Title LCMB7024 Marketing Management
Word Count 2,500 words (± 10%)
Assessment Type Assignment 1
Assessment Title Assessment Component 1: Marketing Information Systems

LCMB7024 Task Description

One of the most important questions faced by business leaders in the strategic marketing process is the choice of timing to launch new products/technologies and enter new markets. There are two options: to be a pioneer or to be a follower. Both have advantages and risks, and the relative success of each strategy depends on several factors, both internal and external.

Tasks: Answer the following essay questions

  • What are the advantages of being a pioneer and a follower company? Provide examples of successful pioneer and follower companies.
  • What product life cycle strategies do successful pioneer and follower companies implement to increase growth and maintain a strong competitive advantage? Provide examples of companies to support statements made.

Learning Outcomes

Upon the successful completion of this module, the student should be able to:

  • Critically appraise key marketing activities and the contribution of the marketing department to the organisation.
  • Anticipate and critically evaluate future developments in the field of marketing, especially through technology. 

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