Unit 41 Contemporary Issues In Marketing Management Assignment Copy

Unit 41 Contemporary Issues In Marketing Management Assignment Copy

Introduction

The contemporary issues In marketing management is prepared in relation with contemporary issues in marketing management in which information related with the issues that organisations faces in present scenario will be discussed. This marketing management will provide information related with the marketing strategies that organisations should adopt and role of various pressure groups in managing the ethical practices in the market. This marketing management will help the organisation to obtain good marketing practices and will help them to sustain in the market.

Task 1

AC 1.1 Explain the concept of knowledge management and its role in relationship management.

The process with the help of which knowledge in the organisation is being created, used shared and managed is known as knowledge management. It is the process with the effect of which organisation can manage its process of knowledge sharing and could help the employee relations to develop their skills so as to manage the work process of the workplace. Concept of knowledge management work s on various components these components are:

Collaboration and ability to connect individuals and groups: According to this component of knowledge management, effective knowledge management system of the organisation helps in ensuring that individuals and groups of the organisation could remain connected and manage the coordination according to the requirement of the workplace (Kerrane, et. al., 2014). It is necessary that Samsung should prefer to gather the data from internet, various media, should use internal data management system, and should try to remain socialise with the peer members and co workers so that information could get shared in a proper manner.

Nature of expertise and access to experts: There are various organisations that ensure that team mixing and job rotation could be done so that knowledge could be transferred across the organisation and workforce working in it. With the help of such activity new approach could be shared at the workplace which would lead to bring new and innovative ideas at the workplace.

Knowledge networking connects groups of people with systems and applications:Samsung should try to use knowledge networking so that groups working at the workplace could connect. Connecting with the knowledge networking system is one of the aspects that could ensure that people working at the workplace could stay connected and could manage the work of the organisation (Salman, 2014).

Knowledge management helps in fulfilling the needs and wants of the customers: With the help of market survey organisation could gather the information related with the needs and ants of the customers and the expectations they have with the product that is being offered by the company. This will help in making changes in the products and delivering the desired product to the target customers.

These are some of the components of knowledge management that are required at the workplace. Somewhere knowledge management of Samsung will help it in managing the relationship. It is the process with the effect of which relationship between the workforce, and management working in Samsung will become stronger and they will be able to work more effectively. Knowledge sharing is the process which ensures that people at the workplace could have effective set of knowledge so as to understand the importance of working together in the organisation and also building customer relationship with the customers and peer members. People having effective relationship at the workplace could work more effectively then the people working individual and same is with the customers (McEachern, et. al., 2012). If effective set of relationship will be build among the customers and organisation then they will get attracted towards the organisation and will try to remain attached with the organisation.

AC 1.2 Explain the ways that ICT can support the customer relationship management process in a particular organisation.

Information and Communication Technology is a term that holds various aspects of communication for the organisation. It is necessary that Samsung should have effective Information and Communication Technology so as to ensure that flow of information could be managed effectively at the workplace. ICT include various technological communication devices so as to manage the communication system. These technical devices are radio, television, cellular phones, computer and network and the hardware and software used for networking, and satellite system.

Customer relationship management is the process with the help of which company could manage its communication with its present and future customers. There are various aspects that are included in customer relationship management they are technological use, automation, sale synchronisation, marketing, customer services and providing technical support (Mpinganjira, 2014). Information and communication technology helps in building effective customer relationship in present scenario because it avails social media with the effect of which Samsung could manage its communication as well as marketing process.

Another aspect is television, it helps the customers to gain information related with the product that will be availed to the target customers. Samsung will be able to avail information related with its product to the target customers and will be able to build effective set of relationship with the customers present in the market. With the help of Information and Communication Technology, Samsung will be able to ensure that more and more information related with its products could be spread in the market so that effective set of relationship could be build with the target customers. This will help the organisation to attain competitive advantage in the market (Kumar, et. al., 2014). Samsung keeps the track record of the vintage customers who regularly visits Samsung to buy its products and provide them exclusive offers. It is because of Information and communication technologies with the effect of which Samsung tracks the information related with the customers and help in availing them the offers which attracts them to purchase the products of Samsung.

AC 1.3 Describe the benefits of customer relationship management in a selected organisation.

There are various benefits that will be availed to the Samsung with the help of corporate relationship management:

Corporate relationship management will help Samsung in improving relationship with the customers available in the market. It helps in providing improved customer experience with the effect of which Samsung will be able to increase its sale and will be able to make effective set of revenue. It will help Samsung to gather effective set of information related with the sale pipeline and the existing customers available in the market. It will help the Samsung to target the customers who have the great potential for the future sale (Jones, 2013). With the help of Customer relationship management, Samsung will be able to provide better services to the customers with the effect of which organisation will ensures that its customer could remain attached with the company. Customer relationship management will help Samsung to improve customer insights, it helps in building buyer personas and helps in knowing the customers better which helps in knowing the customer in better manner. It helps in tracking the customer purchase pattern and preferences; it helps in improving the customer services and helps in meeting the changing needs and requirements of the customers available in the market.

AC 1.4 Make justified recommendations for the improvement in customer relationship management for a selected organisation.

It could be recommended that Samsung should use appropriate customer relationship techniques so as to make sure that it could manage its position in the market. Customer relationship management will help Samsung to attain competitive positioning in the market and will help in generating effective set of revenue (Cacija, 2013). Samsung should try to provide after sale services to the customers, it should avail online customer care centres so that people could get the solutions to the queries that they have related with the products and services of the company. Samsung should use personal selling technique so that people willing to purchase its products and services could gain proper set of knowledge regarding the product they are willing to purchase. Personal selling will help in building effective set of trust with the products and services that are availed with the organisation. Effective set of advertising will also help Samsung; it should promote its products on social networking sites and television so that effective set of information could be spread in the target public and trust could be build among the people available in the market (Radosavljevic, 2015).

Task 2

AC 2.1 Carry out a stakeholder analysis for a voluntary sector and a public sector organisation.

Stakeholder’s analysis is a most important contract law  with every organisation. Different types of organisation have different type of stakeholders for which it is necessary that analysis should be done by the organisation as fulfilling and managing the needs of the stakeholders will help the organisation to manage their workprocess.

Stakeholder Analysis for American Red Cross and World Vision: For American Red Cross and World Vision there are various stakeholders available for which it becomes necessary that their needs should be met by the organisation. It is necessary that organisation should try to understand the needs and wants of the stakeholders attached with it. There are certain stakeholders attached with American Red Cross and World Vision for it becomes necessary that their needs should be met. There are several stakeholders who fall in this category for a private sector firm these are government, stakeholders, suppliers and the employees. These are the stakeholders for it becomes necessary that organisation should meet their needs (Kerrane, et. al., 2014). Another category comes of the stakeholders who are the key players of the company. These are the stakeholders which plays a vital role for the company which consists of government and the customers. It is necessary that organisation should ensure that all the policies should be followed and the customers should be availed the quality product (Suki, 2011). There are certain stakeholders for whom the consideration should be shown by the organisation. There are certain set of customers available in the market which requires special consideration these stakeholders are creditors of the company and the society in which American Red Cross and World Vision is availing its products and services. Another stakeholder occurs in the category of least important list. Although all the stakeholders are equally important for the company and it becomes the responsibility of American Red Cross and World Vision to avail the quality service to the stakeholders attached with the company. Certain stakeholders that fall in the category of least important list are managers and owners. It is because they are the key players of the company they do not require any special consideration. These are the stakeholder which enjoys the benefits of the company and manages all the work on their own (Kerrane, et. al., 2014).

Coming to the government organisations,government organisations are the organisations that work for the benefits of the customers available in the market. These are the organisations which focuses less upon the benefits and works for the welfare of the economy as well as for the people available in the market. Government organisations have to meet the need of the people available in the market which are the customers of the organisation and works to meet the needs of the society or the country in which it is working (Salman, 2014). Other aspects are the key players, key players for the government organisations are the owner of the organisation and the government. They ensure that they should avail all type of benefits to the target population available in the market and ensures that fail deals could be formulated in the market. Stakeholders that are to be taken into consideration by the government organisation are the customers and suppliers as they are the people who help the organisation to sustain in the market and to work on the path to help the people present in the market (McEachern, et. al., 2012). Least important stakeholders are the competitors of the organisation. Government organisations do not focus much upon the competitors available in the market because they use to provide the product at the price which suits the pocket of the customers which cannot be availed by the competitors.

AC 2.2 Describe the nature of the relationship with customer within two selected not for profit organisations.

Not for profit organisations are the organisations which work for the welfare of the people available in the organisation. These are the organisation which does not work for any type of profit and works to provide the products and services to the target customers so as to provide all the possible benefits to them. Nature of the relationship with customers that is shared by American Red Cross and NHS is more of a kind of providing best possible benefits to the customers in need. These organisations prefer to ensure the following aspects:

• American Red Cross and NHS aims at keeping the transparency in the values and services they provide to the customer, they do not hide anything from the customers and prefer to maintain the transparency.
• Another aspect is clear view of good and best practices, both the organisations prefer to share the clear view of the good practices. They ensure that society and the customer could enjoy the maximum possible benefits from the services they are availing to them and helps in managing their life (Mpinganjira, 2014).
• Regulatory reforms are another aspects that are taken into consideration by both the not for profit organisations. Both the organisations American Red Cross and NHS ensure that all the regulatory reforms should be taken into consideration and people should be provided the services which are under the regulatory reforms.
• NHS works to earn profit from the people coming for the services whereas American Red Cross does not work to earn profit because it is a charitable trust.
• Funding is provided by the government to NHS on the other hand funding is provided by various organisations and corporate so that American Red Cross could work to provide effective set of services to the target population.

AC 2.3 Compare methods used in marketing within the public, private and voluntary sectors.

Comparison between the methods used for the marketing within public, private and voluntary sectors:

AC2.4 Explain the key issues involved in marketing in a selected virtual organisation.

Virtual organisations are the organisations which prefer to outsource most of their functions of the business. There are certain functions that are kept with the company these functions are the name and the arrangements of settlements between the partners. There are certain issues that are faced by these organisations. Marketing principle in the other parts of the countries is a biggest issue for the companies like Amazon. Political frameworks and other government issues hinder in the process of marketing of Samsung. Culture is another issue that affect the marketing of Amazon in other countries. There are various countries which follows different type of culture and trend which affect the marketing of the business in other countries (Cacija, 2013). For Example: people in India do not prefer to purchase products online because they do not have the culture to purchase the products and services from the online sites or we can say they trust less on the online sites. Hence, to ensure that more people could get attracted towards the products and services of Amazon, it will have to understand the culture of different countries and will have to work accordingly. Competition in other countries is another aspect that affects the marketing of Amazon. Marketing of Amazon gets affected when its competitors uses more effective marketing tactics and affects its market and the customers attached with it.

Need help?

Get Complete Solution From Best Locus Assignment Experts.

Place an order

Task 3

AC 3.1 Describe the use of the extended marketing mix in a selected service sector business

Earlier, the purpose of 4 p’s have already been discussed but in order to specify the extent of decision making that ensures rights decisions to be taken for that there is a need to discuss the extended version of  marketing mix and i.e. people, physical evidence and process. By discussing this version of the marketing mix will be helpful to improve the efficiency of the Thomas Cook.

People – people involves consumers, employees and their other consumers into the organization that can be affected by the service delivery and satisfaction of customers. For instance, if the employees of the Thomas cook being rude while interacting with its customers then that will ruin the image of the company because this is the first experience of the customers with the organization and how employees will behave to the customers their perception will be like that. And then customers labelled that organization as bad organization on the basis of their behaviour while interacting (Radosavljevic, 2015). So, it is important for the organization to hire right people who can increase the image of the company by being polite and soft spoken to their customers.

Physical evidence – physical evidence shows the overall environment of organization that involves service environment, the ambience, the decoration, presentations, equipments which are being used, food, proper uniform, etc. that means everything which are related to the organization should be organize and proper so that they could be able to attract as much customers as it wants. As we all know that first impression is the last impression so what customers see as entering into the organization will be remembered by them and that should be attractive.

Process –process determines the present situation of the surroundings. It involves the operation system that is being used by the organization (Suki, 2010). This is the process by which customers could get the services accordingly and could get a better experience. By these extended marketing mix Thomas cook can be able to determine the current issues of the company and will be that much capable to handle all those issues without any hesitance.

3.2 Explain how the product/service mix can be used to enhance value for the customer and organisation

An organization could increase the value of itself and its customers by perpetually development and assessment of desires and needs of the consumers. There are various viewpoints of the products /service mix on that basis Thomas Cook can enhance the customers and organizational value.

• Enhancement of consumers – when a customer buys any product or service from an organization they get emotionally attached to that company. That is no longer remained tangible for clients. So it is necessary to fulfil all the needs and desires of the customers accordingly (McEachern, et. al., 2012).
• To make customers experience better – all the processes of the organization must be executed in proper manner as it remains worthy and memorable for the customers.
• Affordable prices –organization should set the price of the services affordable and not very expensive and as far as possible they can give something in return to the customers for making their spent money worthy.
• Easily available – Thomas cook should use the easiest channel to approach their client in order to make its services easily available. For example, a customer always chooses a site for booking which is easily available for them (Suki, 2011).
• Dynamic employees – Thomas cook should hire employees who are active and make other feel pleasant is the only way to attract large number of customers.
• Teach and engage – organization should provides exciting deals and offers to the customers to make them aware about the current trending.
• Endorsement –before using a service of an organization a customer collects as much information as they can. Customers always look for the comfort. Branding of a product/ service includes surveys, social media, reviews, etc.

Customer’s satisfaction is the biggest concern that is to be worried about. Organizations have to modify their services and facilities according to the evolving product /service mix.

3.3 explain how difficulties peculiar to the marketing of services can be overcome with reference to a particular organisation

There are various challenges that are faced by the travel and tourism industry such as lack of quality, lack of services, difficulty in services communication, how to set the pricing to get more customers, etc. These challenges can be a barrier to any organization so, it is obvious to remove or eliminate these challenges to get more profit. Here are some solutions that can be used to remove these challenges and provide better experience to the customers.

• To develop well-built company’s image – A company’s reputation is everything that can make or break the customers. When a customer is going to book a ticket online he or she prefers the best company that can give them a better experience and comfort all they want. So it is important to take care of the customer’s comfort level and provide them all the facilities that they deserve (Kerrane, et. al., 2014).
• To maintain the regular customers –Customers are supposed to be a source of income for any organization so in order to retain them an organization should provide them special offers and discount by which they can get linked with the same company in future.
• Online surveys – Online surveys are helpful to evaluate the level of satisfaction of customers as how many customers are satisfied with the product or services that are being provided by the organization or how many are not satisfied with them and after getting satisfaction level Thomas cook try to modify the services accordingly in order to increase the level of customers who are not satisfying with the present services (Kubacki, et. al., 2014). Customer’s perception plays a vital role to make the company successful.

3.4 Explain the role of IT in services marketing management in a selected organisation

Information technology has become the vital part for all organizations in today’s scenario. If any organization combines its services with the information technology is capable to provide better and effective services to their customers. This task is all about the services that are provided by the Thomas cook by using information technology. IT has an important role in the travel and tourism sector in current scenario that the customers is so advanced as they like to do all the activities like booking of hotel, trains, planes, etc. online. Both customers and organization can have benefits from IT through various offers, discounts, etc (Kerrane, et. al., 2014).

These are some Technologies that are used by the Thomas cook to make customers experience better.

Computer system – Thomas cook uses computer system to interconnect with its various customers. Customers can see the latest discount and offers on their computer screen before booking for a reservation. It is also helpful to keep the records of their permanent customers and make them aware about the latest schemes and offers through email or messages.

System of online booking –because the people of this generation have become digital people, they book their tickets of bus, train, plane, etc online before going anywhere. Customers can also compare the prices, discount and offers provided by the different hotels online and book their best deal accordingly. Apart from Thomas cook there are many more organizations who provides this service like Tripadvisor, make my trip, etc. This system is very useful for the customers to get connected with the best deals and offers (Salman, 2014).

Internet- internet has already changed the face of the current scenario as it is also very useful in the travel and tourism industry. To go through the organization’s website customers can get an idea about what services are to be provided by a particular tourism industry and on that basis they make their decision. So, Thomas cook needs to make an attractive and eye catching websites on which the information regarding recent deals and offers will be available to attract more customers.

Task 4

AC 4.1 Explain some of the current issues of ethical and social concern to marketers in a particular industry.

There are certain morals that are connected with the market as well as with the organisation these morals are known as business ethics. There are certain ethics and social concerns that are attached with every marketer so as to ensure that the marketing which is done by the marketer should not affect the target population. There are certain ethical issues that are attached with the marketer of Thomas Cook they are:

• Environment: It is necessary that the marketer of Thomas Cook should ensure that the marketing of the services of the company should be done in such a manner that environment should not get affected. It is necessary to take care of the environment (McEachern, et. al., 2012). If any of the process of marketing will affect the environment then it will directly affect the processing of the company as well as its image in the market.
• Cultures: Marketers of Thomas Cook will have to ensure that the marketing strategy they are using should not affect the culture of the people available in the market. It is necessary that culture of the people should be taken into consideration in the market in which marketing is to be done.
• Inequality: It is necessary that the information that is to be delivered with the help of marketing strategy of the company, it should show equality. Comparison of the religion, income or race of the people should not be done it should ensure that equality should be maintained and effective information could be shared (Mpinganjira, 2014).

AC 4.2 Explain the concept of CSR with reference to a particular organisation.

Corporate Social Responsibility CSR is the term that is directly related with the responsibilities that organisations present in the market have towards the society in which it is doing the business. There are various responsibilities that Thomas Cook has towards the society and the people available in the society. Organisation will have to make sure that people in the society should not get affected with any of the process of the business and should try to help in the growth of the society. There are certain key components that are included in CSR they are:

• Business Ethics: One of the main responsibilities which are required by Thomas Cook is to provide fare trade in the market. Business ethics is the aspect which should be taken care of by Thomas Cook. Such type of activity helps in maintaining fair deal in the market and will help in ensuring that the people present in the market could get quality products and services (Kumar, et. al., 2014).
• Workplace and Labour Relation: Workplace and labour relation is another aspect that is to be taken care of by the Thomas Cook. It is a responsibility of business to look after the labour working in it. It is because labour is the most important part of the business, without them business could not manage its work process. Providing effective wages and remuneration will help in building effective labour relation.
• Customers:Customers are the most important part of every business. Thomas Cook has a responsibility of providing quality services to the target customers. It should ensure that customers should get what they pay (Jones, 2013). Without customers a business is nothing and providing fair deals to the customer is one of the most important things in present scenario.
• Infrastructure and Development: Infrastructure and development is another corporate social responsibility of every business. Organisations doing business in the market will have to ensure that they should provide better infrastructure and developmental aspects to the society in which they are doing business. Doing so will help the society to grow and develop.

AC 4.3 Evaluate the role played by a selected pressure group in influencing ethical and social marketing policies for a selected organisation.

There are certain pressure groups that are indulged in the activity of influencing ethical and social marketing policies. Certain pressure groups that influence ethical and social marketing policies for Thomas Cook are government, Ministry of travel and tourism, and various not for profit organisation (Jones, 2013). Government develop various legal and regulatory frameworks in relation with the travel and tourism companies so as to ensure that people coming to enjoy the services should get proper and fair deals because it help in building good image of the country. It is necessary that all the legal and regulatory frameworks should be followed by Thomas Cook so as to ensure that it could stable in the market and do its business in a proper manner (Cacija, 2013). Not for profit organisations ensures that people in need could get proper services related with travel and tourism. These are the pressure groups that help the people in need and ensure that organisations like Thomas Cook should give their contribution in helping the people in need and help them to grow and develop.

AC 4.4 Evaluate the role played by published or broadcast media in influencing ethical and social marketing policies for a selected organisation.

Publish and broadcast media plays a very vital role in influencing ethical and social marketing policies. It is the means with the effect of which people present in the market could gain effective set of information related with the various aspects related with the services. Now a day any kind of information could be gained from the published or broadcast media with the effect of which fair deals could be done in the market. Thomas Cook could promote its price and services with the help of published as well as broadcast media and could provide the information related with the ethical aspects that are followed by the company. Such type of activities helps in attracting the people towards the organisation and helps in attaining sustainability. Published and broadcast media ensures that the people available in the market could fight for the right and ensures that they should get what they pay for (Radosavljevic, 2015). Media provides information related with various unethical marketing practices which could affect the psychology of the customers available in the market. It keeps eye on the marketing practices of the companies available in the market. Media ensures that companies should provide the product which is shown to the customers. It also keeps eye on the price of the products whether they match with the price shown to the customers while marketing.

Contact us

Get assignment help from full time dedicated experts of Locus assignments.

Call us: +44 – 7497 786 317
Email: support@locusassignments.com
 

Order Now!!

Conclusion

It could be said that there are various issues related with the marketing in present scenario. Hence, it becomes necessary that every organisation should try to indulge in the ethical practices and should try to provide fair deal in the market with the effect of which it will be able to develop a positive image in the market and will be able to attract effective number of customers towards its services and products. 

References

Cacija, L.N. 2013, "Fundraising in the context of nonprofits strategic marketing: toward a conceptual model/Fundraising u kontekstu strateskog marketinga: prema konceptualnom modelu", Management: Journal of Contemporary Management Issues, vol. 18, no. 1, pp. 59.
Jones, R. 2013, "Research at the Entrepreneurship and Marketing Interface: Contemporary Issues in Global Economies", Journal of Research in Marketing and Entrepreneurship, vol. 15, no. 1.
Kerrane, B., Bettany, S.M. & Hogg, M.K. 2014, "Revisiting contemporary issues in family consumption", Journal of Marketing Management, vol. 30, no. 15-16, pp. 1527-1532.
Kerrane, B., Bettany, S.M. & Hogg, M.K. 2014, "Revisiting contemporary issues in family consumption", Journal of business Management, vol. 30, no. 15-16, pp. 1527-1532.
Kubacki, K., Rundle-Thiele, S. & Ebrary 2013;2014;, Contemporary issues in social marketing, Cambridge Scholars Publishing, Newcastle upon Tyne.
Kumar, A. & Bhatt, R. 2014, "Contemporary Issues and Challenges of Librarianship: Is Marketing Capable to Run the Show", International Journal of Information Dissemination and Technology, vol. 4, no. 2, pp. 155.
McEachern, M.G. & Carrigan, M. 2012, "Revisiting contemporary issues in green/ethical marketing: An introduction to the special issue", Journal of Marketing Management, vol. 28, no. 3-4, pp. 189.
Mpinganjira, M. 2014, "UNDERSTANDING ONLINE REPEAT PURCHASE INTENTIONS: A RELATIONSHIP MARKETING PERSPECTIVE", Management : Journal of Contemporary Management Issues, vol. 19, no. 2, pp. 117
Radosavljevic, G. 2015, "CONTEMPORARY ISSUES IN ECONOMICS, BUSINESS AND MANAGEMENT - EBM 2014", Ekonomski Horizonti, vol. 17, no. 1, pp. 75.
Salman, S.A. 2014, "Contemporary Marketing Issues in Takaful", International Journal of Economic Perspectives, vol. 8, no. 4, pp. 13.
Suki, N.M. & Suki, N.M. 2011, Business Economics in a Rapidly-Changing World: Contemporary Issues in Marketing Management, Nova Science Publishers, Inc.
Suki, N.M., Suki, N.M. & Ebrary 2010;2011;, Contemporary issues in marketing management, Nova Science Publisher's, Hauppauge, N.Y.