Demonstrate knowledge and understanding of the theories and concepts of strategic marketing management and their relevance to business
Develop, analyse and justify solutions to strategic marketing problems and issues
Critically analyse and interpret marketing information and apply to practical business situations
This task is based on the Markstrat simulation.
You are to write an INDIVIDUAL REPORT which clearly explains the aims and objectives set, the strategies employed, the results achieved, the monitoring carried out and the corrective actions taken by your group in the Markstrat simulation. You should take an overview and highlight some of the key turning points taking a strategic marketing perspective. In your discussions you should use relevant theory to explain your strategies. As a guideline you should attempt to cover as many of the major headings in Markstrat as possible in your discussions (e.g. R&D, Positioning, Market Research, Product Portfolio, Lifecycles, Contribution levels, Consumer Behaviour etc). You should use evidence from each trading period (e.g. your saved print screens) in an appendix to support your discussion. You should reflect on what you have learned through the simulation.
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