HI5004 Marketing Management T2 2024 Assignment Help

HI5004 Marketing Management Assignment

 

Final Individual Assessment

 

Unit Details	Name	Marketing Management
	Code	HI5004
	Year, Trimester	Trimester 2, 2024

 

Assessment Details	Name	Final Individual Assessment
	Due Date & Time	10 October, 2024 10.59 pm - Brisbane & Gold Coast students 11.59pm-Melbourne & Sydney students

 

Student Details	Student Number
	First Name
	Family Name

 

Submission Declaration	Integrity Declaration	I have read and understand academic integrity policies and practices and my assessment does not violate these.
	Full Name
	Submission Date

 

ALL SUBMISSIONS MUST INCLUDE YOUR STUDENT DETAILS AND SUBMISSION DECLARATION. 

IF THESE DETAILS ARE NOT COMPLETED YOU RISK BEING PENALIZED

 

HI6006 Competitive Strategy T2 2024 Assignment Help

 

 

 

Instructions

Academic  Integrity Information	Holmes Institute is committed to ensuring and upholding academic integrity. All assessment must comply with academic integrity guidelines. Important academic integrity breaches include plagiarism, collusion, copying, impersonation, contract cheating, data fabrication and falsification. Please learn about academic integrity and consult your teachers with any questions. Violating academic integrity is serious and punishable by penalties that range from deduction of marks, failure of the assessment task or unit involved, suspension of course enrolment, or cancellation of course enrolment.
Format& submission  instructions	All answers must be entered in the answer boxes provided after each question. Your assessment must be in MS Word format only. You must name your file with the Unit Code and Student ID  example:  HI5004–EMV45678 Check that you submit the correct document as special consideration is not granted if you make a mistake. Your student ID& namemust be entered on the first page. Submission declaration must be completed on the first page. All work must be submitted on Blackboard by the due date and time. Late submissions are not accepted. You have two attempts to submit.  The final submission will be marked only.
Penalties	Reference sources must be cited in the text of the report, and listed appropriately at the end in a reference list using Holmes Institute Adapted Harvard Referencing. Penalties are associated with incorrect citation and referencing. For all other penalties, please refer to the Final Assessment Instructions section on Blackboard.

 

 

 

All responses must be entered in the answer boxes at the end of each question

 

Question 1                                                                                                                  (10 marks)

 

Explain the concept of the marketing mix and how it serves as a tool for marketing managers to influence consumer demand. Provide examples of how different elements of the marketing mix (Product, Price, Place, Promotion) can be adjusted in response to changing market conditions.
(400 – 500 words)

 

ANSWER (box will enlarge as you enter your response)

 

Question 2                                                                                                                  (10marks)

 

Critically evaluate the role of digital marketing in contemporary marketing strategy. How does digital marketing help businesses reach their target audience more effectively than traditional marketing methods?(400 – 500 words)

 

ANSWER

 

Question 3   

                                                                                                               (10marks)

Discuss the importance of understanding consumer behavior for developing an effective marketing plan. How can marketers use consumer insights to create value for both the company and its customers? (400 – 500 words)

ANSWER

 

Question 4                                                                                                                  (10 marks)

 

Case Study 1

Naked Juice, a brand owned by PepsiCo, established in the early 2000s, was once a leading player in the organic juice market in Australia. Known for its commitment to using only organic fruits and vegetables, Naked Juice built a strong reputation among health-conscious consumers. However, in recent years, Naked Juice has experienced a significant decline in sales and market share. Despite its early success, the brand has struggled to adapt to the evolving preferences of its target market, which has shifted toward a broader emphasis on health, sustainability, and low-sugar content. This shift has left Naked Juice behind, relying on outdated marketing methods and failing to connect with a new generation of consumers.For more information about Naked Juice, please access the link below:

 

https://www.ampagency.com/case-studies/naked-juice-cpg-case-study

 

Required:

Identify the key issues Naked Juice faces in its current market position and consider what changes in consumer behaviour should be taken into account when developing a new marketing strategy. Discuss how Naked Juice can rebrand itself to appeal to the health-conscious consumer segment, the role of integrated marketing communication in repositioning Naked Juice's brand and recommend specific marketing tactics Naked Juice could use to rebuild its brand image and regain market share.
(400 – 500 words)

 

ANSWER

 

Question 5                                                                                                                  (10 marks)

Case Study 2

 

Wyze Labs, a mid-sized smart home technology company, is preparing to launch a new smart home security camera designed to offer advanced features at an affordable price. The company has identified a growing trend of consumers seeking cost-effective, user-friendly smart home devices that integrate seamlessly with other smart home ecosystems. However, the market is highly competitive, with established brands like Amazon's Ring, Google Nest, and Arlo already dominating the smart home security market. Wyze Labs wants to differentiate its product by emphasizing affordability, ease of use, and innovative features like person detection and compatibility with a wide range of smart home systems.For more information about Wyze Labs, please access the link below:

 

https://dotcommagazine.com/2023/08/wyze-labs-a-comprehensive-guide/

 

Required:

Analyse the potential challenges Wyze Labs might face in positioning its new product in the competitive smart home security market and recommend the marketing strategies, including the use of the 4Ps (Product, Price, Place, Promotion) and digital marketing tactics, that Wyze Labs should employ to effectively target its desired consumer segment and maximize its reach and engagement with potential customers (400 – 500 words)

 

ANSWER

 

                                             END OF FINAL INDIVIDUAL ASSESSMENT