MKT243 Fundamentals of Marketing Assignment Sample UiTM Malaysia

This course provides a comprehensive and practical exploration of marketing, emphasizing a managerial perspective. It offers students an innovative and thorough introduction to the fundamental aspects of marketing from a practical standpoint.

Assignment brief of MKT- 243 Fundamentals of Marketing UiTM Malaysia

Assignment Activity 1: Describe the concept of marketing, component marketing mix, and principles of marketing

The assignment task you’ve described involves three key components related to marketing:

1. Describe the Concept of Marketing: This part requires you to explain what marketing is. Marketing is a set of activities and processes that involve creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. It involves understanding customer needs and wants, developing products or services that fulfill those needs, determining the right pricing, promoting these offerings through various channels, and ensuring their availability to the target market.
2. Components of Marketing Mix: The marketing mix comprises the elements that a marketer can control to influence demand for a product or service. The traditional marketing mix consists of four main components known as the 4Ps:
   • Product: Refers to the goods or services offered to meet customer needs.
   • Price: Represents the amount customers pay for the product or service.
   • Place: Involves the distribution channels through which the product or service is made available to customers.
   • Promotion: Includes all activities that communicate the product’s benefits and persuade customers to buy it.

   There are expanded versions of the marketing mix, such as the 7Ps, which include People, Process, and Physical Evidence, particularly relevant in service industries.

3. Principles of Marketing: This part involves discussing the fundamental principles that guide successful marketing strategies. Some of these principles might include:
   • Customer Orientation: Putting the customer at the center of all marketing efforts.
   • Value Creation: Creating value for customers by meeting their needs and solving their problems.
   • Market Segmentation: Identifying and targeting specific groups of customers with similar needs.
   • Integrated Marketing: Ensuring consistency and synergy across all marketing channels and efforts.
   • Relationship Marketing: Building and maintaining long-term relationships with customers for repeat business and loyalty.
     

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Assignment Activity 2: Perform information management skills through group project in promoting products and services.

The assignment task you’ve mentioned involves utilizing information management skills within a group project focused on promoting products and services. Here’s a breakdown of what this might entail:

1. Group Project: Students or participants will work together in teams to create a comprehensive marketing plan or campaign for promoting specific products or services. This could involve dividing tasks among team members, assigning roles, and collaborating to achieve the project’s objectives.
2. Promoting Products and Services: The primary objective of the project is to develop strategies and plans to market and promote a particular product or service effectively. This might involve selecting a product/service, identifying a target audience, and devising a promotional strategy to increase awareness, sales, or customer engagement.
3. Information Management Skills: This aspect focuses on the efficient handling and utilization of information to achieve marketing goals. Here are some skills and tasks that might be involved:
   • Market Research: Gathering data and information about the target market, competitors, industry trends, and consumer behavior.
   • Data Analysis: Analyzing collected information to derive insights and make informed decisions about the marketing strategy.
   • Marketing Strategies: Developing plans based on the gathered information. This includes deciding on the marketing mix (product, price, place, promotion) and creating a comprehensive strategy for promotion.
   • Communication and Collaboration: Sharing information effectively within the group, ensuring everyone understands their roles, and collaborating to integrate ideas and strategies.
   • Documentation: Managing and organizing data, research findings, and the marketing plan itself. This includes creating reports, presentations, or any deliverables required to present the marketing strategy.

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Assignment Activity 3: Demonstrate entrepreneurial skills through group assignment

The assignment task focusing on demonstrating entrepreneurial skills through a group assignment typically involves the following aspects:

1. Group Collaboration: Participants will work together in teams to explore, develop, or present a business idea, concept, or plan. This collaborative effort simulates real-world entrepreneurial dynamics where individuals bring diverse skills and expertise to the table.
2. Entrepreneurial Skills Demonstration: The assignment aims to showcase various entrepreneurial skills. Some of these skills might include:
   • Creativity and Innovation: Generating novel ideas, concepts, or solutions that solve a problem or fulfill a need in a unique or innovative way.
   • Opportunity Recognition: Identifying and evaluating business opportunities in the market or addressing unmet needs.
   • Business Planning: Developing a comprehensive business plan that outlines the business concept, target market, revenue model, marketing strategy, and operational details.
   • Risk Assessment and Management: Analyzing potential risks and devising strategies to mitigate them.
   • Presentation and Communication: Effectively communicating the business idea, its value proposition, and the overall plan to potential stakeholders, investors, or customers.
   • Adaptability and Resilience: Being adaptable to changes and resilient in the face of challenges commonly encountered in entrepreneurial endeavors.
3. Execution of Entrepreneurial Ideas: Participants might be tasked with creating a prototype, conducting market research, creating a business model canvas, or delivering a pitch presentation to showcase their entrepreneurial idea effectively.
4. Evaluation Criteria: The assignment might be assessed based on various criteria, such as the feasibility and originality of the business idea, the depth of market research conducted, the viability of the business plan, the presentation quality, and the overall innovation and creativity demonstrated.

Go and check this sample: ACC-106 Introduction to Financial Accounting and Reporting Assignment Sample UiTM Malaysia

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