OP7414 Graduate Diploma in Marketing Level 7 Assignment Answer

These are the Assignment Answer of OP7414 Graduate Diploma in Marketing Level 7 Assignment.

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Assignment Solutions of OP7414 Graduate Diploma in Marketing Level 7 Assignment

Assignment Activity 1. understand a variety of marketing dimensions such as goods and services marketing, domestic and international marketing, consumer and business-to-business marketing

Goods and Services Marketing -

The market for goods and services is a never-ending playground. Households find the things they need to live their lives.

Businesses sell products in order to stay afloat. This includes stores of all sorts but also features anything from websites online or people’s homes who are offering things like clothes or toys.

Domestic and International Marketing -

Marketing activities at a company can be divided into two categories: domestic and international marketing.

Domestic marketing refers to the various campaigns that are conducted locally; whereas, with international marketing these efforts take place on an even larger scale of countries across the world such as China or India.

Domestic Marketing is defined by companies carrying out their own promotional campaign within their national borders while International Marketing extends beyond one country's border-line in order to explore markets abroad like China or India for example.

Consumer and business-to-business marketing -

Business-to-business marketing is when a company sells items or services to another company.

This type of marketing often happens because bigger companies usually want to buy things that will make them money, instead of things that people with lower budgets might be interested in.

Assignment Activity 2. have an in-depth focus on the marketing communications component of marketing and implement communication strategies using both traditional and digital media

Marketing communications or "marcomms" is the management of various channels of communication, such as advertising and marketing for a particular product.

Marketing is a way to tell people about your company or product.

Marketing can be used for entertainment like the Olympics or educational programming like National Geographic. It can also help brands by using different techniques, such as branding.

With this degree, you can learn the basics of advertising and media literacy so you’re able to understand how society connects with media messages and what really influences our decisions when we make them.

The most common digital communication strategy is to use it in addition to traditional media, like radio, print, and TV.

If you're a new or small company without any money in getting the word out, I'd suggest using social media as a way of tackling different customer segments.

Modern customers do not think that digital messages and traditional marketing are different.

But if your business only caters to one group (e.g., people who travel exclusively on luxury cruise ships), then you should focus on digital communication channels like emails and blogs instead of wasting time engaging with platforms.

Assignment Activity 3. prepare proposals and undertake marketing research to assist marketing decision making

Marketing research is simply investigating and understanding market dynamics in order to use this information for the purposes of marketing decision-making.

When undertaking marketing research there are several different techniques you can choose to use, such as:

Qualitative Research - usually interviews and focus groups run by a trained interviewer who asks carefully prepared questions and records responses. Qualitative research will give you a more complete understanding of how customers feel about your business.

Quantitative Research - usually surveys where respondents answer questions using numbers (possibly on a scale), or data from an experiment like an A/B test where the alternative versions have been accurately measured against each other.

Assignment Activity 4. contribute towards operational and strategic marketing planning

You can contribute to both operational and strategic marketing planning by providing a wealth of information about the demographics that are likely to buy your product.

Essentially, contributing to the market research component of an organization's decision-making process helps them make accurate predictions for their marketplace behavior.

Assignment Activity 5. contribute towards pricing and promotion policies

Marketing is a branch of business management that deals with how you use materials, people, and money to get what you want.

Marketing is about making sure that your decisions are in line with your goals.

Pricing policies are important. The prices need to cover the cost and provide a profit.

Sometimes they can also be used to do other things, like protect or improve market share, compete with rival products, or reduce the attractiveness of substitutes.

Assignment Activity 6. apply marketing concepts to address marketing problems and create value for the organization and its stakeholders

Marketing concepts are something we do to help our marketing problems. They have names, like the 4Ps of Marketing (Pricing, Place, Promotion, and Product).

They help us figure out what causes our problem through a systematic process.

If you don't know what your marketing strategy is, you can come up with a plan. It will be step-by-step and will tell you how to do things.

Your plan should start by telling you about your "present" and "target" audiences and what they think about the product or service that they want from it.

Then it will say how to make sure that people have needs for the product or service so they can pay for pricing strategies if needed.

The strategy should also say what channels work best to send messages about the benefits of the product, its need, and its price too.

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