Global Strategic Operations Markets and Resources
Business and Economics
Topic: Global Strategic Operations, Markets and Resources
For a ‘new to market’ product/service of your choice, you are to write an Individual Management Report which discusses and identifies Marketing Aspects, your report will cover the following criteria:
- Develop your product/service idea and compile the main components of a well-researched marketing strategy that could be used for sustained success of the product (50% of marks)
- Give a critical assessment of how the complexities of the external environment and economic conditions will impact on Marketing and Operational Planning for the product. (25% of marks)
- Propose and Justify suitable methods and techniques for sustaining business operations and customer value. Suggest relevant measures and approaches to managing performance, quality and process\systems improvement. (25% of marks)
- Add a PESTLE analysis to the appendices.
Here’s how you might approach this Business and Economics assignment step-by-step:
Step 1: Develop your product/service idea (50% of marks)
a) Start by identifying a unique product/service that you think has a market potential. This could be something that solves an existing problem or fills a gap in the market.
b) Once you have your idea, begin to compile the main components of a marketing strategy that could be used for sustained success. This will likely involve identifying your target audience, determining pricing and positioning, deciding on a distribution strategy, and planning out promotional tactics. Make sure to use well-researched data to back up your strategy.
Step 2: Assess the impact of the external environment and economic conditions (25% of marks)
a) Conduct a PESTLE analysis (Political, Economic, Socio-Cultural, Technological, Legal, and Environmental factors) that considers the complexities of the external environment that your product/service will be launching in. Include this PESTLE analysis in your appendices as instructed.
b) Provide a critical assessment of how these factors, along with the current economic conditions, could impact your marketing and operational planning. This could include considerations like regulatory changes, market trends, economic conditions, etc.
Step 3: Propose methods for sustaining business operations and customer value (25% of marks)
a) Think about how you will maintain the operation of your business and the value it provides to customers. This could involve strategies for customer retention, quality control, supply chain management, etc.
b) Justify why you believe these methods and techniques would be successful. Be sure to suggest relevant measures and approaches to managing performance, quality, and process/systems improvement. This could include things like key performance indicators (KPIs), continuous improvement methods, quality assurance practices, etc.
Step 4: Writing and Revision
a) Write your report in a clear, structured manner. Begin with an introduction that outlines the purpose of the report, followed by distinct sections for each of the criteria. Finish with a concise conclusion that summarises your findings and recommendations.
b) Use diverse vocabulary and varied sentence structures to make your writing engaging. Make sure to stay on topic and maintain a clear focus throughout.
c) After writing, take the time to thoroughly proofread your work for any grammatical or punctuation errors. Also, check that your arguments flow logically and that your report is coherent and easy to read.
d) Finally, remember to properly cite any sources you used to support your arguments. Your school should have guidelines on the appropriate citation format to use.
Best of luck with your assignment! I hope these instructions and advice will help guide you towards success.