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MRKT20052 Marketing Management and Digital Communications
Marketing management represents the procedure of controlling marketing aspects, setting the company goals, organizing the step-by-step plans, undertaking decisions for the firm, and executing them for getting the maximum level of return through meeting the demands of the consumer. Marketing management depends on the product, price, place, and promotion for attracting the consumers. The four Ps remain decided by the firm’s management as per the customer demand regarding what they want to purchase, with appropriate market price, and is easier to find either online or in the stores. Marketing management will have to deal with and make a flow of such elements for the survival of the business. The key objectives of marketing management will include attracting newer customers, satisfying the customer demand, maximizing the share of the market, profitability, and creating a better public reputation.
Digital communication involves the efforts of online communication of an organization. Most of the organizations in the present day tend to use a wider range of online channels that range from websites to mobile chats to blogs for connecting with the prospective and the current customers, stakeholders, and employees.
The unit is recognized by the code BSBADM506 which describes skills and knowledge necessary for the creation of standards for the production along with the designing of the organizational document. It also takes into account the management of document design along with the process of production for meeting the agreed standards. It is applicable to the individuals who seem to remain employed within ranges of the work environment that requires well-identified skills for the use of a wider range of software packages. Individuals are also found to utilize skills of documentation, establishment, dependable standard, and implementation for designing of the document within the organization. The unit details shall include:
Location: It is Footscray Nicholson
Study Level: This involves Vocational and Further education (TAFE)
Unit Code: This is marked by BSBADM506
As far as the briefing of the assignment is concerned, it is planned in a manner to reinforce as well as extend knowledge and also enhance the competent skills within the defined and the controlled parameter depending on learning outcomes of each individual unit and standards for the requirement of performance. This involved the setting of the task related to work dependent on practical application that is designed for the portrayal of the evidence of the competence outcome within the scheduled and the periodic timeline. The student represents skills like supporting the organizational needs, need for information technology, and capabilities that hold relevance to the production as well as the design of the documents and the establishment of the documentation standard for complying with organizational requirements. In other words, this involved testing, designing, and adjustment of the document-related template. It further takes into account implementation, development, and training for supporting the use of the standardized template for documentation as well as incorporating improvements according to organizational requirements. The students are also predicted to demonstrate knowledge in relation to the process of production of documents that considered the identification of cost associated with applying the standard documentation. Software application with regard to document design as well as organizational development is also taken into consideration. This indicates the need for the identification of the key provisions for the pertinent regulations and legislations along with the standards as well as codes for prompting the document production. There also lies a need for the outlining of the policies of the organization along with the procedures which remain associated with document production.
The MRKT20052 Course Code holds a weightage for this particular semester as it is serving a portion of the curriculum for the students. The study of marketing management holds significance for the students. It is a way that aids an organization in maintaining its reputation. The good company seems to be identified by its reputation within the market. Marketing shall include buying, exchanging, selling, and the transportation of the goods that helps in building the reputation. Whenever an organization falls well on such parameters, it seems to stand firm and gain a good and clear reputation amongst the public. Students also learn the way of boosting the company’s economy. Marketing management puts across ways of beating market competition along with making better sales. It also aids in the development of plans for advertising products in a manner so that they are known as well as viewed by the public. Students also learn in promoting newer ideas. The marketing management aids in promoting newer ideas that are dependent on the offer and the benefits for the public so that they can quickly grab. A company however keeps diversifying and nourishing the ideas for ensuring their distinctiveness from the presence of the other companies within the market. The ideas seem to be useful for a firm in knowing the demand of the present-day market thereby preventing it from leading in the wrong direction.
The skills for success in digital communication which the students require to develop are flexibility. Those who seem to thrive in digital communication tend to be the individuals who are not only highly adaptable as the priorities of the discipline tend to quickly shift. Students also learn to have a commitment to lifelong learning. It is to be noted that ongoing education is vital for remaining marketable and at the forefront of a field. It is however not possible in predicting the future changes however successful professionals of digital communication remain committed to lifelong learning for staying ahead in the pace of the change. Students also develop a passion for storytelling. This is because digital communication often remains rooted within the art of persuasion and is considered the best way of persuading the audience through the crafting of a stronger narrative. It also helps in the development of empathy. Being a strong communicator involves gaining a stronger appreciation of the audience and the things that drive them.
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