Exam (elaborations)
MNM3712 ASSESSMENT 4 2023
- Institution
- University Of South Africa (Unisa)
MNM3712 ASSESSMENT 4 2023
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BMZ ACADEMYBMZ ACADEMY
@061 262 1185/068 053 8213/0717 513 144
BMZ ACADEMY 061 262 1185/068 053 8213/0717 513 144
, BMZ ACADEMY
Table of Contents
QUESTION 1 ............................................................................................................. 3
Research .................................................................................................................... 3
Case application ..................................................................................................... 3
Analysis (and action) .................................................................................................. 3
Case application ..................................................................................................... 4
Communication .......................................................................................................... 4
Case application ..................................................................................................... 4
Evaluation .................................................................................................................. 5
Case application ..................................................................................................... 5
QUESTION 2 ............................................................................................................. 6
Step 1: Pre-planning stage (3 marks) ......................................................................... 7
Case application ..................................................................................................... 8
Step 3: Customer assessment (5 marks) ................................................................... 8
Case application ..................................................................................................... 8
Step 4: Developing CRM strategies (4 marks) ......................................................... 10
Case application ................................................................................................... 11
Step 5: Competitive benchmarking (10 marks) ........................................................ 14
Case application ................................................................................................... 15
Step 8: Selecting appropriate promotional and CRM technologies (10 marks) ........ 15
Case application ................................................................................................... 15
Step 10: Measuring CRM results (5 marks) ............................................................. 16
Case application ................................................................................................... 16
BMZ ACADEMY 061 262 1185/068 053 8213/0717 513 144
, BMZ ACADEMY
QUESTION 1
Send a surprise online gift shop and florist is a sole director-owned private company.
Discuss, with the use of practical examples, how the owner can practically apply the
RACE formula to accomplish the task of building relationships with investors (8
marks for practical application). [8]
To build an effective relationship with investors and shareholders, organisations
should make use of the RACE formula. The term “RACE” is drawn from research,
analysis, communication and evaluation). These steps within RACE formula are
explained in detail below:
Research
When wanting to build relationships with the investor, it is necessary to carry out
research as to what types of investors have put money into the organisation, what
their needs and perspectives are and what types of information they would like to
have hence what are their expectations?
Case application
It is noted in the case that Send a Surprise is a private company with a sole director,
Lindsay Traill, who is the owner and manager of the company. In October 2018
Lindsay Traill bought an online gift store and florist which had been in existence for
11 years and renamed it Send a Surprise. On 15 October 2018, Send a Surprise was
launched and began trading to the public. The owner had established a loan account
to the value of R550000 to cover start-up costs and initial running costs, ie to buy
stock, build a website, purchase a vehicle and build brand awareness. It sells gifts,
flowers, balloons and cakes, all beautifully wrapped and delivered either the same
day (in Cape Town) or next day (major South African cities).
Analysis (and action)
Once the organisation is aware of who these investors and shareholders are, what
types of investors have put in money, and what they expect it will be able to examine
their needs and expectations in detail and respond accordingly. These will be
incorporated into the organisations communications with investors. In this way, the
BMZ ACADEMY 061 262 1185/068 053 8213/0717 513 144
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