MARKETING MANAGEMENT

Marketing Management Assignment

[Name of the Organization]

Part 1 - Reflective Statement

This module was a form of great learning, and I learned a lot from this module's instructor. We covered almost all of the module's learning outcomes, including how to make a business plan while establishing a new business, the queries that one face while working on a new business start-up project or while dealing with a new business. I also learned as to what can be the hardships that one can face while operating a new business; thus the module not only contributed to my theoretical knowledge but also gave me insights into the practical world and the problems that are faced while operating a new business in a real world scenario. Last but not the least I also came across the learning for establishing a new business action plan.

From this module, I was also able to develop a key understanding of the complex procedures that come up while operating a new business; these include the structuring up of a new business, the functions involved in the setting up of a new business and how to manage the queries that arise while setting them up.

Also, this module taught me about the knowledge and skills that are required in order to start a new business, or in other words, I also learned about the qualities that are required to become an entrepreneur and if one is an entrepreneur, then how can he/she execute his ideas or give them a practical frame.

Comparison with Entrepreneurs

Sir Richard Charles Nicholas Branson

Sir Richard Branson is as the founder of 400 companies of the Virgin group, which is one of the largest groups of companies and is also ranked amongst the most profitable ones. He is known as the business magnate and a sole researcher, his achievements as an entrepreneur can be clearly seen as a business entrepreneur by his successful launch of 400 successful companies, listed under virgin group. With his key research abilities, he analyzed the growth in the retail sector and thus started to address the retail sector by making his initial investments in the retailing business of jeans that he imported from Far East on a low cost basis and then sold on a competitive retail price in the local industry. Later on Sir Richard Charles Nicholas Branson researched about the growing business sectors and started investing in the Airways and later on in the sector of music records, by the names of Virgin Atlantic Airways and Virgin Records, respectively (Branson, 2002, pp. 56).

As compared to Sir Richard Branson, the qualities that I have are of honest researching, i.e. I am trustworthy, and I rely on factual analysis and thorough research which gives me a quality of a thorough research analyst like Sir Richard Branson.

Sir Philip Green

Philip Green is one of the largest retailers and is the CEO of Arcadia group. He is for his hard time through the initial learning stages of his career while working at many different places ...