Tips on how to write assignment on Business Environment

Here are some important tips and guidance from our Quality Dissertation team for those who need help in Business Environment Assignment, one can also contact us if facing difficulties in writing a good business environment assignment :

A business works within an environment consisting of its surroundings. Naturally, this environment impacts the performance of the business. Broadly, the immediate environment of any business consists of national and further global political, economic, social, technological, legal and environmental conditions (PESTLE).

PESTLE - Business Environment

Hence, Business Environment Studies is considered as an important subject in every MBA school. Given that it’s a multifold subject, whenever writing about assignments on topics related to this, a student needs to keep in mind that what is expected from the assessor.

For example, a typical assignment may judge you on only one or the other constituent of the environment, say, you’re understanding of the purpose of business, its nature as well as the nature of the national environment in which business operates. You should be able to display great knowledge of the behavior of organization in its market environment and be able to assess the significance of the global factors that shape national business activities.

You can explain the impact of a nation’s political and economic environment on a business by giving a live example. Any nation’s fiscal and monetary policies influence the activities and performance of its business organizations in considerable manner, as these policies control the monetary transactions within the market and bring in stability in the price level and availability and demand of products. Purpose of both of these policies is to stabilize the market economy through equalizing the prices, reducing the possibility of unemployment and availability of the products and services in the market, yet they follow different paths for achieving this particular goal.

Similarly as suggested by our assignment writing help experts, political decisions of the ruling government party may also affect business. Some parties believe in protection of domestic emerging businesses making it difficult for foreign investment based organizations difficult and expensive to survive, some have difficult trade norms or sometimes they don’t offer enough stability which can possess the threat to a business of uncertainty in future. Some governments have liberal outsourcing norms which also impacts businesses internationally.

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You can also explain the concept of Globalization that can be defined as the process of integration of international corporations for interchanging the views, consumer products and different mechanisms. It has been identified that the economies of most countries go through considerable influence of globalization which not only impacts consumer and supplier behavior, but also ultimately influences a nation’s economy and the activities of business organizations belonging to it.

While listing the above concepts is important, students can also relate this topic to multiple tools that enable companies to analyze its business environment before making crucial decisions and investing huge sum of capital. One of such most important scanning tools is PEST or PESTLE analysis.

PEST/ PESTLE analysis:

This is a very effective, comprehensive and systematic way of scanning a business environment. The letters in PEST, PESTLE, also called PESTEL, denote the following things:

  • Political factors
  • Economic factors
  • Social factors
  • Technological factors
  • Legal factors
  • Environmental factor

Further, each factor consists of some peculiarities that can be tested before making any vital business decision. Some political factors that you can study are government policies, taxes laws and tariff, stability of government, entry mode regulations etc. Whereas, economic factors can be inflation rate, interest rate, disposable income of buyers, credit accessibility, unemployment rates, monetary or fiscal policies or foreign exchange rate. Factors like cultural, gender, demography, etc. are considered as social factors. Technology is one factor which has gained a lot importance lately. Indicators like internet, broadband speed, new discoveries and advances enable technology. Geographical location, weather, climate, energy resources and consumption, etc. are prime environmental factors. Some companies also add another E to this, which stands for Ethics. This is particularly general trend of corporate governance prevailing in a sector or country.

Check out our informative blog on MCKI assignment here: MCKI assignment tips

Also if you are interested to read here is an interesting blog on marketing principles assignment writing.

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Tips on writing good marketing principles assignment by uk expert

Here are some really important tips on Marketing Assignment ( Marketing principles ) drafted by one of our industry expert, if you are  a UK university students looking for some expert advice or a good writer please have a read at this :

For writing any assignments on marketing principles, one must understand the basics. An assessor will mostly judge you on following aspects:

1. Your ability to identify and apply strategies to find appropriate solutions.

2: Your selection, design and application of appropriate methods/techniques.

3: Your presentation and communication of findings.

For achieving the above goals, you must use critical reflection to evaluate your work and justify valid conclusions, take responsibility for managing and organizing content and demonstrate convergent/lateral/creative thinking. Or simple look for an assignment help provider like us to get you through

For example, a typical assignment on marketing principles may test your knowledge on following:

  1. Your understanding of the individual elements of the extended marketing mix by explaining
    1. How products are developed to sustain competitive advantage
    2. How distribution is arranged to provide customer convenience
    3. How prices are set to reflect an organization’s objectives and market conditions
    4. How promotional activity is integrated to achieve marketing objectives
    5. Analysis of additional elements of the extended marketing mix
  2. Your ability to use the marketing mix in different contexts
    1. Marketing mixes for two different segments in consumer markets
    2. Illustration of differences in marketing products and services to businesses rather than consumers
    3. Concepts of international marketing

For answering questions on marketing mix, one must gain insight about its elements which are also called 4 Ps of marketing as suggested by our coursework help providers :

Product: It involves decisions about features, advantages and benefits of product, the total product concept; product mix; product life cycle and its effect on other elements of the marketing mix; product strategy; new product development; adoption process etc.

Place: Where to sell the product. It includes customer convenience and availability; definition of channels; types and functions of intermediaries; channel selection; integration and distribution systems; franchising; physical distribution management and logistics; ethical issues.

Price: It is the perceived value of the product. The requires to analyze the pricing context and process using pricing strategies and demand elasticity, competition, costs, psychological, discriminatory, ethical issues etc. according to customers.

Promotion: Promotions create awareness and image with effective and integrated communication with help of push and pull strategies, advertising above and below the line including packaging, public relations and sponsorship, sales promotion; direct marketing and personal selling; branding, internet and online marketing etc.

Your assignment writing should also reflect on the shift from the 4Ps to the 7Ps. Due to advent of service industry 3 more factors have become important to look after. These are the soft elements of marketing (people, physical evidence and process management).

You must know that market segmentation is a marketing strategy which is used to club the groups of target consumers in certain groups. These groups have some major similarity about any very critical factor when making decisions about purchasing a particular product. E.g.

  1. Consumer markets which are mostly fast moving consumer goods
  2. Business or organizational market: these could be adding value through service. The buyers can be industrial; non-profit making; government or re-seller

You should also be able to analyze how a service market is different from mainstream product. The nature and characteristics of service products depend on its intangibility, ownership, inseparability, perishability, variability, heterogeneity etc. Hence, its strategies must revolve around service quality and creating benefits.

Another important aspect of marketing mix is International markets. Promoting and selling a product outside the native country includes understanding the needs and preferences of the market for which product is going to be sold.  Your answer should include very popular concepts of globalization; cultural differences; standardization versus adaptation. You should also discuss benefits and risks & market attractiveness.

Last but not the least, always remember that the best way strengthen your idea is to supporting it with real world examples and quoting references.

Checkout or exclusive MCKI assignment tips.

 

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Tips on writing marketing communication assignment help MCKI

The thumb rule before starting to write any assignment is to understand the meaning, concept and practical application of the subject. The same rule holds true for assignments on Marketing Communications as well.

It is one of the most essential part of any marketing mix.  It is a strategically planned medium to reach the target consumer by any company. The purpose is to communicate the message to the desired audience. Now, the message to be communicated could be anything. Mostly, it is used for spreading awareness about a company’s products. But it could very well be used for other purposes like introducing new ideas, increasing brand visibility or any new promotional offers etc.

There is a wide spectrum of media via which a message can be communicated to the customers. The best way of planning a perfect marketing communication mix is by gaining in depth knowledge of some core information about defining target audience, message to communicate, best time to communicate, communication budget, reliability and control.

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One of the most common platforms of communication is advertising. It can be further divided into two categories i.e. above the line and below the line advertising. Conventionally, ‘above-the-line’ is advertising via ad agency hence commission has to be paid on that. On the other hand, ‘below-the-line’ standard charge is paid instead of commission. Ex. TV ads, where slots are booked via agencies and commission is paid versus ad in newspaper where charges are standard, hence, that is below the line medium. Important aspect of marketing assignment.

Some of the other traditional platforms for marketing communication are direct marketing, branding, promotions, publicity, public relations etc. However, with the huge rise in the usage and accessibility of the internet, digital and online marketing tools are becoming favorite among many companies.

To write an assignment, one must go through the relevant study material. E-Books available on Google, PDF articles written by marketing experts, research papers, text books published by well-known authors and publishing houses can prove to be very helpful for research purposes. Also, a good assignment is never complete without relevant examples. One can quote examples from case studies, white papers and newspapers etc. to prove a hypothesis or explain case in point. However, the most important thing to mention list of references along the articles as well as at the end of it, as the guidelines require. Some of the most quoted and referred authors in the field of marketing are Philip Kotler, Neil Rackham, Michael Porter, etc.

Last but not the least, the rule of writing any assignment that goes without saying is “STRICTLY NO PLAGIARISM”. Contact us for any assignment help.

Happy writing..!!

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