In this modern era, marketing takes place in almost all fields. It simply means the process of promoting products to the set of customers. For students of business administration and management, it is essential to know about marketing and its procedure. Every product we use in our daily life is somehow promoted employing advertising so that we can get to know about them. This is how marketing takes place and learn a deep description about how to write marketing strategy assignment. Although, millions of people are working in the field of marketing and that is why it is essential for the students to analyse and know about it. For this reason, the educational institutions require the students of management and business to submit assignments on marketing. This will help them to see the practicality of marketing.
What is Marketing Strategy?
Marketing strategy is an overall business plan for reaching people and turning them into customers of certain products. In other words, it is a document comprises of the project and path with steps along with timings of marketing activities. A good marketing strategy can be made using thorough research and plan to attain maximum profit. However, before making a strategy, one needs to have a clear idea about the target audience, their behaviour of buying and analysing of different varieties of plans. The most important of them are:
- Paid Marketing: which includes traditional approaches to advertising,
- Cause Marketing: in which links the products to a social cause,
- Relationship Marketing: focuses on building & maintaining customer relationship,
- Undercover / Stealth Marketing: promoting while customers are unaware of the strategy,
- Word of Mouth: customer impression about the product and they will help by means of words,
- Internet Marketing: all promotions happen in the internet and social media platforms,
- Diversity Marketing: promotion to diverse audience by means of comprehensive strategies.
All these would be considered before making a strategy and plan accordingly for the betterment of the company. Because of the importance of marketing strategies, the faculty are insisting the students make assignments and presentation of wide varieties of marketing strategy.
What is Marketing Strategic Assignment?
Marketing Assignment strategies are given to the students to analyse the practical difficulties in the marketing field. The student needs to choose a product and proposes the marketing strategy of promoting it. This is quite difficult because a student knows only the theoretical aspects of marketing. He needs to research and analyse the practical approach and compare it with their theories and thereby propose them in a fascinating manner in the form of document or presentation.
Steps to Write Marketing Strategy Assignment?
Before writing an assignment on marketing strategy, the student needs to choose a product, and they get to know about the product and its clients. The student should have to consider the 4Ps of Marketing concepts:
Product: It can be a physical product or The services you offer, and you need to consider the Brand name, services, functionality, quality, packaging and warranty of the product.
Promotion: This is the first strategic section because, this is where you can mention about your plan and the areas needed to specify are Marketing budget, Promotional plan, Salesforce, Advertising and public relations.
Price: in this section, you need to say about the pricing of your product for bundling, retail price, seasonal price, wholesale and pricing strategy.
Place: this comprises of the position of distribution, means of transportation, distribution channels, management, logistics and type of delivery. All these should be taken into consideration for writing a marketing strategy for a product.
Tips for Prepare Perfect Marketing Strategy Assignments:
- It would help if you made it unique with analysing of 4Ps of marketing concepts.
- Precise knowledge about the customers and their expectations for satisfying them.
- Flexibility for customer satisfaction is necessary.
- In-depth research about the industry, competitors and comparisons with other company will help a lot in pricing & services
- Using different strategic plans for a better idea for customer coverage.
- Always remembering the budget and keeping it to maintain financial status.
Assignment Writers need to know and consider all these factors before planning a strategy. He should have to think like the owner of the company and understand the practicalities with extensive research will help a lot in making an assignment. Also, talking directly with the marketing manager of a particular product will help them to have a clear idea about how the strategic process works. By considering all these, one needs to show some charts/graphs for easy understanding for the audience. The writer should also present it without grammatical errors, and sentence fluency with practical examples along with simple interpretation will be the added advantage. So, by keeping all these in mind, a student can easily define a marketing strategy and write it up as an assignment. Also, get idea from Assignment Samples for preparing an assignment that is available on our website.