Explain in detail why it is important for a retail company to segment its target audience and what methods might be used to achieve this.

Coursework 1 Referred assignment worth 30% of the module mark: (1000words explanation + 10 ppts)
Prepare a PowerPoint presentation which explains in detail why:
a. it is important for a retail company to segment its target audience and what methods might be used to achieve this
b. how a retail company should plan its marketing mix to meet the needs of its prime target audience.
Your presentation should consist of 10 slides.
Each slide should have 5 critical points, together with between 100 and 150 words of explanation on the slides notes section.
The presentation should be uploaded via Moodle before the deadline.

Coursework 2 Referred assignment: worth 70% of the module mark: 2000words essay
Write an essay of between 2000 and 2500 words which examines the following statement discussed in lecture #1 of the module:
Benchmarking is the practice of being humble enough to admit that someone else is better at something and wise enough to learn how to match and even surpass them at it.
O’Dell. C., Continuous Journey, April 1994
Explain why benchmarking is important and critically analyse the value for marketing planning. Use examples to support your arguments and cite relevant theories.

Discuss how both your communication plan and your implementation plan have been affected by and reflect the different stakeholder perceptions of the idea .

You are expected to use a company of your choice as the context of this assignment, then, you will apply the theories, principles and models learned from this module to complete the assignment tasks.

Task 1 (850words maximum)

A range of different processes and techniques can be used to generate innovative and creative ideas or behaviour in organizations. Identify and discuss a number of these and evaluate how effectively an organisation with which you are familiar uses such processes and techniques. As part of this discussion you should identify a number of innovative or creative ideas that either have been or could have been produced by the organisation using such methods. (Assessment criteria 1.1, 2.2)

Task 2 (850 words maximum)

Explain “organisational mission and vision” and discuss how your chosen organisation communicates its mission and vision internally. Assess the extent to which its mission and vision may encourage innovation or creativity.

Define” organisational stakeholder” and analyse those key stakeholders of the chosen company.

Take one of the innovative ideas, which you introduced in the previous section, and identify different stakeholders potentially affected by that idea and discuss how each might be affected by and react to the idea and the activity it leads to. You should analyse how the new idea would impact those stakeholders and they reaction. (Assessment criteria 2.1, 2.2, 2.3 and 3.1)

Task 3 (850words maximum)

The implementation of new ideas normally requires both careful planning and well thought through communication to or with all relevant stakeholders. Based upon the analysis you carried out of stakeholder reactions to the innovative idea identified in task 2 and the activity it is likely to lead to, you are required to:
• design a detailed communication plan targeting different stakeholders you have identified seeking to gain their acceptance of the idea and its corresponding activity.
• present a plan for the implementation of the new idea

Discuss how both your communication plan and your implementation plan have been affected by and reflect the different stakeholder perceptions of the idea you identified in task 2.
(Assessment criteria 3.1, 3.2, 3.3, 4.4)

Task 4 (850 words maximum)

Discuss the barriers to change and assess its impaction to the implementation plan you designed in Task 3. With reference to one or more proven models of change discuss how you would plan to overcome those barriers and achieve the change results.
(Assessment criteria 1.2, 2.3, 2.4, 4.1, 4.2, 4.3, 4.4)