NBS-7109B Strategic Marketing Management Summative Assessment Brief 2023-24

Introduction

• An analysis of where your chosen organization is now using appropriate models to audit the current situation.
• An overview of where the organization wants to be. Including SMART-related objectives.
• Critical analysis of the strategic options resulting in your decision as to where the organization wants to be.
• An explanation of how the company will implement the chosen strategy.
• Your recommendations as to how the organization should monitor company performance.

Strategic audit and objectives (Where are we now? Where do we want to be?): Plan to include an analysis of the external macro- and micro-environments and the internal environment. Relevant models e.g., SWOT, PESTLE, and Marketing Mix can be applied. Plan to include the mission/vision, strategic objectives should be SMART/5Ss.

Strategic decisions and tactics (How are we going to get there? Getting there): Very clear strategic choice.  Tactics - strong evidence of application of tactical models e.g. marketing mix. This stage of the plan indicates which models/frameworks have been applied in evaluating the strategic options and includes an analysis of the STP process. Decisions should be fully justified. 

Evaluation and Controls: Very strong evidence of recommendations for proposed tools to control the implementation of the plan. A wide range of KPIs e.g. customer satisfaction, brand awareness, ROMI. A high level of understanding of how to monitor customer feedback. Plan to include recommendations for the proposed tools to control the implementation of the plan. This stage of the plan includes recommendations for the measurement tools relevant to determining the success of the marketing plan and includes financial, resource, and time-based measures.