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Assignment 1 (50%) 1500 words Write an essay of no more than 1500 words in response to the following:
With reference to real world examples, critically discuss how organisations might most effectively analyse their competitive position in the market and identify meaningful and valuable ways in which to differentiate themselves from competitors.
In addressing this task you should discuss:
i. What is meant by ‘competitive position’ and why it is important to ensure that this is both distinctive and meaningful/valuable to consumers
ii. Why organisations should develop an effective understanding of the external marketing environment (at the macro and micro-level), what the consequences might be if they don’t, and how they might most effectively achieve this. Illustrate this part of your discussion with real world examples.
iii. Why organisations should develop an understanding of consumer needs, behaviours and conceptions of value, what the consequences might be if they don’t, and how they might most effectively do it. Illustrate this part of your discussion with real world examples.
iv. How organisations might conceptualise sources of competition and identify current and potential competitors. Illustrate this part of your discussion with real world examples.
v. Why organisations must understand how they are perceived in relation to their key competitors by consumers and other stakeholders, and how they might most effectively do this (e.g. by understanding their own strengths/weaknesses/value propositions in comparison to direct competitors, identifying key points/bases of differentiation, understanding and visualising consumer perceptions).
Assessment criteria: You will be assessed on theoretical knowledge and understanding, application of theory to/in the specified context, critical thinking and argument, independent research and reading, structure, presentation and clarity of communication. Word Count: Max 1500 Words (everything is included in the word count, except title page, contents and reference list; appendices are not permitted and will not be marked)
Font: Calabri 11 point Spacing: Single line References: Harvard Style
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