Reference no: EM133134561

This activity will require you to demonstrate your skills and knowledge by documenting how you would develop an organisational marketing objective.

This activity should take the form of a journal entry or similar, explaining exactly how you would develop the marketing objective, in line with your organisation's policies and procedures. 

Identify a product or service that will be the subject of your marketing activity and identify the marketing objective it is a part of. 

In your entry, explain:

Q1) How you would identify the strategic direction of the organisation, including:

• Identifying the organisation's mission, vision, values and purpose
• Identifying the organisation's direction and targets
• Conducting a situational analysis to identify factors that may affect the organisation's direction and performance
• Legal and ethical obligations the organisation must abide by when marketing your product or service
• How you would communicate with senior management about the strategic direction of the organisation.

Q2) How you would review marketing performance, including:

• Evaluating the success of previous marketing strategies concerning this item
• Analysing the strengths, weaknesses, opportunities and threats applied to the product that you are basing your answer on

Q3) How you would scope marketing opportunities, including:

• Identifying the viability of an identified marketing opportunity
• Assessing external factors, costs, benefits and risks to determine the marketing's scope
• Analysing opportunities in terms of their fit with organisational goals
• Evaluating the likely impact of the opportunity on the business and its customer base

Q4) How you would formulate marketing objectives, including:

• How you would communicate with key internal stakeholders
• Explaining what the marketing objective is and how you would check that the objective is aligned with the future needs of the organisation
• How you would check that the objective is compatible with the organisation's capabilities, resources and financial position
• How you would check that the objective is compatible with the organisation's direction and purpose
• How you would document the marketing opportunity.