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BTEC HND in Business Module Booklet                                   


























Unit 4Marketing Principles
Unit level4
Unit code F/601/0556
Unit typeCore
Term Start Date12/09/2016
Hand out date26/09/2016
Submission Deadline20/11/2016
Lectures & Formative Assessments8 Weeks
Summative Assessment & Feedback2 Weeks
Guided learning hours60
Module Leader 
Lecturer 


 Table of Contents


1.1 Introduction. 2

1.2 Learning Outcome. 3

By the end of this unit a student will: 3

1.3 Essential Content. 3

1.4 Scheme of Work. 7

1.5 Teaching Ethos. 11

1.6 Methods of Delivery. 12

1.7 Plagiarism.. 12

1.8 Assignment brief. 13

1.9 Evidence to achieve Pass, Merit and Distinction. 17

2.0 Glossary of academic words used in this and other assignments. 19

  

1.1 Introduction


 

This is a broad-based unit which gives learners the opportunity to apply the key principles of marketing.

Firstly, the unit looks at the definitions of marketing, and what is meant by a marketing orientation and the marketing process.

Next, learners consider the use of environmental analysis in marketing and carry out their own analyses at both macro and micro levels. They will also investigate the importance of market segmentation and how this leads to the identification and full specification of target groups. Learners then consider buyer behaviour and positioning.

The unit looks at the main elements of both the original and the extended marketing mix. This includes an introduction to the concept of the product life cycle, new product development, pricing strategies, distribution options and the promotion mix.

Finally, learners will develop their own marketing mixes to meet the needs of different target groups. This includes considering the differences when marketing services as opposed to goods. A range of other contexts is examined including marketing to businesses instead of consumers and the development of international markets.

1.2 Learning Outcome


By the end of this unit a student will:


1 Understand the concept and process of marketing

2 Be able to use the concepts of segmentation, targeting and positioning

3 Understand the individual elements of the extended marketing mix

4 Be able to use the marketing mix in different contexts.

1.3 Essential Content


 
  • Understand the concept and process of marketing

Definitions: alternative definitions including those of the Chartered Institute of Marketing and the American Marketing Association; satisfying customer needs and wants; value and satisfaction; exchange relationships; the changing emphasis of marketing

Marketing concept: evolution of marketing; marketing orientations; societal issues and emergent philosophies; customer and competitor orientation; efficiency and effectiveness; limitations of the marketing concept

Marketing process overview: marketing audit; integrated marketing; environmental analysis; SWOT analysis; marketing objectives; constraints; options; plans to include target markets and marketing mix; scope of marketing

Costs and benefits: links between marketing orientation and building competitive advantage; benefits of building customer satisfaction; desired quality; service and customer care; relationship marketing; customer retention; customer profitability; costs of a too narrow marketing focus

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  • Be able to use the concepts of segmentation, targeting and positioning

Macro environment: environmental scanning; political, legal, economic, socio-cultural, ecological and technological factors

Micro environment: stakeholders (organisation’s own employees, suppliers, customers, intermediaries, owners, financiers, local residents, pressure groups and competitors); direct and indirect competitors; Porter’s competitive forces

Buyer behaviour: dimensions of buyer behaviour; environmental influences; personal variables – demographic, sociological, psychological – motivation, perception and learning; social factors; physiological stimuli; attitudes; other lifestyle and life cycle variables; consumer and organisational buying

Segmentation: process of market selection; macro and micro segmentation; bases for segmenting markets, (geographic, demographic, psychographic and behavioural); multi- variable segmentation and typologies; benefits of segmentation; evaluation of segments and targeting strategies; positioning; segmenting industrial markets; size; value; standards; industrial classification

Positioning: definition and meaning; influence over marketing mix factors
  • Understand the individual elements of the extended marketing mix

Product: products and brands – features, advantages and benefits; 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

Place: 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: perceived value; pricing context and process; pricing strategies; demand elasticity; competition; costs, psychological, discriminatory; ethical issues

Promotion: awareness and image; effective communication; integrated communication process (SOSTT + 4Ms); promotional mix elements; 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

The shift from the 4Ps to the 7Ps: product-service continuum; concept of the extended marketing mix; the significance of the soft elements of marketing (people, physical evidence and process management)
  • Be able to use the marketing mix in different contexts

Consumer markets: fast moving consumer goods; consumer durables; coordinated 
marketing mix to achieve objectives

Organisational markets: differences from consumer markets; adding value through service; industrial; non-profit making; government; re-seller 


Services: nature and characteristics of service products (intangibility, ownership, inseparability, perishability, variability, heterogeneity – the 7Ps); strategies; service quality; elements of physical product marketing; tangible and intangible benefits 


International markets: globalisation; cultural differences; standardisation versus adaptation; the EU; benefits and risks; market attractiveness; international marketing mix strategies

 

Recommended text and links:

 

Baines, P., Fill, C. and Page, K. (2010) Marketing.2nd edition. Oxford, Oxford University Press.

Fill, C. (2011) Essentials of marketing communications. Harlow, Financial Times/Prentice

Bradley, N (2010) Marketing Research: tools and techniques.2nd edition. Oxford, Oxford

Roman, K. and Maas, J. (2005) How to advertise – what works, what doesn’t and why.3rd edition. London, Kogan Page.

Davis, A. (2007) Mastering public relations.2nd revised edition. London,

Brassington F and Pettitt S Principles of Marketing 4th Edition (Financial Times/Prentice Hall, 2006) ISBN: 9780273695592

Kotler P et al Principles of Marketing, 5th Edition (Financial Times/prentice Hall, 2010) ISBN: 9780273743279

 

Journals

Campaign (Haymarket Publishing)

Harvard Business Review (Harvard Business Publishing)

The Marketing Review (Westburn Publishers Ltd)

The Marketer (Journal of the Chartered Institute of Marketing Magazine)

Marketing Business (The Chartered Institute of Marketing Magazine)

Marketing Week (Centaur Communications Ltd)

The Financial Times and other daily newspapers which contain a business section and market reports

Websites

www.bized.co.uk Bized provides a selection of teaching and learning resources

www.cim.co.uk The Chartered Institute of Marketing’s site contains a useful knowledge centre

www.ft.com  The Financial Times business sections

www.thetimes100.co.uk multimedia resource

 

Assessment criteria

LO1 Understand the concept and process of marketing

1.1 Explain the various elements of the marketing process

1.2 Evaluate the benefits and costs of a marketing orientation for a selected organisation

 

LO2 Be able to use the concepts of segmentation, targeting and positioning

2.1 Show macro and micro environmental factors which influence marketing decisions

2.2 Propose segmentation criteria to be used for products in different markets

2.3 Choose a targeting strategy for a selected product/service

2.4 Demonstrate how buyer behavior affects marketing activities in different buying situations

2.5 Propose new positioning for as elected product/service

 

LO3 Understand the individual elements of the extended marketing mix

3.1 Explain how products are developed to sustain competitive advantage

3.2 Explain how distribution is arranged to provide customer convenience

3.3 Explain how prices are set to reflect an organisation’s objectives and market conditions

3.4 Illustrate how promotional activity is integrated to achieve marketing objectives

3.5 Analyse the additional elements of the extended marketing mix

 

LO4 Be able to use the marketing mix in different contexts.

4.1 Plan marketing mixes for two different segments in consumer markets

4.2 Illustrate differences in marketing products and services to businesses rather than consumers

4.3 Show how and why international marketing differs from domestic marketing.

 
1.8 Assignment brief





























 


Unit 4Marketing Principles
Unit codeF/601/0556
Unit typeCore
Term Start date12/09/2016
Assignment/hand-out date26/09/2016
Deadline/hand-in date20/11/2016
 
Assignment titleMarketing Principles
Word countThe suggested overall word count for this assignment is 3000 - 4000 words and no learner will be penalised for producing work outside this limit but should ensure their word count allows them to meet the assessment objectives
Purpose of this assignment:

This is a broad-based unit which gives learners the opportunity apply the key principles of marketing.

 

Firstly, the unit looks at the definitions of marketing, and what is meant by a marketing orientation and the marketing process.

 

Next, learners consider the use of environmental analysis in marketing and carry out their own analyses at both macro and micro levels. They will also investigate the importance of market segmentation and how this leads to the identification and full specification of target groups. Learners then consider buyer behaviour and positioning.

 

The unit looks at the main elements of both the original and the extended marketing mix. This includes an introduction to the concept of the product life cycle, new product development, pricing strategies, distribution options and the promotion mix.

 

Finally, learners will develop their own marketing mixes to meet the needs of different target groups. This includes considering the differences when marketing services as opposed to goods. A range of other contexts is examined including marketing to businesses instead of consumers and the development of international markets.
Task 1

Driving a Hard Bargain

Despite sophisticated uses of marketing tools and techniques some argue that many of the world’s marketers of cars are still sales oriented when dealing with customers in car showrooms. In particular the approach to customers taken by the car salesperson is often based on a ‘hard sell’ that uses pressure to make a sale. The customer is in essence manipulated into a position where they feel they have to make the purchase. Lots of different sales techniques can be used to hard sell and pressurize the customer into a purchase. For example the salesperson can use the ‘time pressure’ technique

‘. . . This is the last one at the old price; prices go up by 5 per cent at the end of the week.’ Another example is the ‘play off’ technique whereby the salesperson plays off one person against another.

‘. . . I’m sure your partner would appreciate the extra safety features on this model and the park assist system –after all you wouldn’t want her to drive something that wasn’t one hundred per cent safe would you sir?’ Even apparently rational appeals which appear to be based on identifying and satisfying a customer’s real needs and wants can be hard sell techniques masked as something else.

‘. . . I’m sure the change to a four door model will be invaluable when your new baby arrives’. Hard selling is still a feature of the car salesroom experience for many customers. Car salespersons are often still trained in these techniques. Furthermore car sales people are often incentivised by their companies on the basis of sales figures alone rather than more customer oriented bases such as customer satisfaction or customer loyalty. Perhaps even worse is the fact that often the car salesperson views the sales process as a win/lose process with every unit of extra profit gained from the sale being a victory and every unit of profit lost as a failure. This confrontational attitude to negotiations with customers is that it often results in dissatisfied and ultimately lost customers. Understandably the customer who subsequently feels they have been pressurised into a purchase or who feels they were outmanoeuvred on the terms of the sale is unlikely to purchase again and will often pass on this dissatisfaction to friends and family. Certainly there is a case for purposeful selling and the effective salesperson should know how to overcome objections and close the sale but hard selling is now recognized as ineffective and inappropriate in the contemporary business environment. Unfortunately, driving hard bargains is still prevalent in many car salesrooms.
You are required to use the above case and similar research to answer the following:

1.1 Explain the various elements of the marketing process

1.2 Evaluate the benefits and costs of a marketing orientation for a selected organisation
 
Task 2

The next management meeting

At a recent senior management meeting, your CEO outlined a series of immediate challenges facing the company. She said that the marketing environment is too unpredictable and that this unpredictability has been undermining the company’s ability to develop a sound and successful marketing strategy. She also mentioned the concepts of segmentation, targeting and positioning has little to do with the company’s success.

As a newly appointed advisor to the marketing strategy team, you disagree and suggest that good planning is based on a thorough analysis of the company’s marketing environment, coupled with ongoing monitoring of environmental change and an understanding of the concepts of segmentation, targeting and positioning.

As a consequence, she asks you to write a report on these topics for the next management meeting.
You are required to write the report, using appropriate examples from an industry of your choice. Your report should address each one of the following:

2.1 Show macro and micro environmental factors which influence marketing decisions

2.2 Propose segmentation criteria to be used for products in different markets

2.3 Choose a targeting strategy for a selected product/service

2.4 Demonstrate how buyer behavior affects marketing activities in different buying situations

2.5 Propose new positioning for as elected product/service

 

Your answer need to be practical and appropriate to you chosen organisation
Task 3

Your new role

You have just been appointed as the marketing manager of a large bank. At your first briefing with the Marketing Director, he makes the comment that the marketing mix is a serious over simplification of the most important tool in the strategic marketer’s tool box. He asks you to prepare a report on the extended elements of the marketing mix and to detail how it can be used in today’s highly competitive market to create competitive advantage in the bank.
You are required to prepare a report, using appropriate examples to respond to the Marketing Director. Your report should address each one of the following:

3.1 Explaining how products are developed to sustain competitive advantage

3.2 Explaining how distribution is arranged to provide customer convenience

3.3 Explaining how prices are set to reflect an organisation’s objectives and market conditions

3.4 Illustrating how promotional activity is integrated to achieve marketing objectives

3.5 Analysing the additional elements of the extended marketing mix
Task 4

The Job Interview

You have been invited for a job interview for the position of a Marketing Director with Vodafone UK. The company is seeking to expand given the high level of competition on the UK market. As part of your interview you have been asked to prepare a PowerPoint presentation of how the marketing mix can be used in different contexts. Your slides should not be less the 9 but must not exceed 12 in total.
You are required to use the above scenario and similar research to answer the following:

4.1 Plan marketing mixes for two different segments in consumer markets for Vodafone UK. Your plan should set out and communicate clearly what is to be done.

 

4.2 Illustrate differences in marketing products and services to businesses rather than consumers for Vodafone UK. Use examples to illustrate your points.

 

4.3 Show how and why international marketing differs from domestic marketing in the case of Vodafone UK.

 

Your answer need to be practical and appropriate to a company such as Vodafone UK
 

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