Marketing Principles

Marketing Principles

Principle Outcomes Assessed:

•    Understand the concept and process of marketing
•    Be able to use the concepts of segmentation, targeting and positioning
•    Understand the individual elements of the extended marketing mix
•    Be able to use the marketing mix in different contexts
Date Set:

ASSIGNMENT INTRODUCTION

In this unit you will learn and apply the key principles of marketing.
The unit looks at the definitions of marketing, and what is meant by a marketing orientation and the marketing process.

You will then consider the use of environmental analysis in marketing and carry out your own analyses at both macro and micro levels.

You will also investigate the importance of market segmentation and how this leads to the identification and full specification of target groups. Buying and positioning are also important to businesses.

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, you 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 also examined including marketing to businesses instead of consumers and the development of international markets.

TASK ONE

Understand the concept and process of marketing. (LO1). Choose an organisation of your choice  and  Produce a report between 1500 and 2000 words to:-

o    Explain the various elements of the marketing process. (1.1)

o    Evaluate the benefits and costs of a marketing orientation for a selected
Organisation. (1.2)

TASK TWO

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

Show macro and micro environmental factors which influence marketing decisions.   (2.1).

o    Using the organisation from task 1  produce a Powerpoint
presentation  identifying the internal and external factors affecting your
Chosen organisation.

Propose segmentation criteria to be used  for products in different markets
2.2) Produce a report up to 1500 words in length:-

o    Justifying your chosen organisations segmentation criteria for products in different markets.

Choose a targeting strategy for a selected product/service (2.3).
Extend your report to research how your organisation chooses a targeting strategy for their product or service.

Demonstrate how buyer behaviour affects marketing activities in different
buying  situations.(2.4)
o    Using different organisations, Produce a report up to 1500 words in length.
o    how the different dimensions of buyers behaviours can affect their
Marketing activities.

Propose new positioning for a selected product/service (2.5)
o    In a report, using the same organisation used in 2.4, :-
Propose  new positioning for your organisation to develop a product
or service.
o    Explain how these differences will  be communicated to the target segments

o    Whether these differences can sustain a products performance and be

Communicated over time.

TASK THREE

Understand the individual elements of the extended marketing mix.(L03)

Explain how products are developed to sustain competitive advantage
Using an Service organisation or your choice write a  report-style document
showing your understanding of how they use the extended marketing
Mix.(3.1)
Explain how distribution is arranged to provide customer convenience
businesses.(3.2)
Explain how prices are set to reflect an organisation’s objectives and market
Conditions. (3.3).
Illustrate how promotional activity is integrated to achieve marketing objectives
(3.4)
Analyse the additional elements of the extended marketing mix (3.5) These
Should include People, Physical evidence, and processes.

TASK FOUR

Be able to use the marketing mix in different contexts.(L04)

You are a marketing manager of a leading financial service organisation.
Prepare a  PowerPoint presentation using different examples relating to
marketing  of  services rather than goods,  plan marketing mixes for two
different segments in  consumer markets.(4.1)

Illustrate differences in marketing products and services(4.2)
In a report  show how there are differences between marketing products and
Services.
Show how and why international marketing differs from domestic
marketing.(4.3)

LEARNING OUTCOMES AND ASSESSMENT CRITERIA

Learning Outcomes    Assessment criteria for Pass
LO1 Understand the •    Understand the concept and process of marketing
•    Be able to use the concepts of segmentation, targeting and positioning
•    Understand the individual elements of the extended marketing mix
•    Be able to use the marketing mix in different contexts    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 behaviour affects marketing activities in different buying situations
2.5 propose new positioning for a selected 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
3.4illustrate 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

In addition to The above PASS criteria, this assignment gives you the opportunity to submit evidence in order to achieve the following MERIT and DISTINCTION grades

Grade Descriptor
Indicative characteristic/s
Contextualisation
M1 Identify and apply strategies to find appropriate solutions    Effective judgements have been made.

To achieve M1, you will make effective judgements about the benefits and coast for market orientation for a chosen business.
(Task 1.2)
To achieve M1, justify your chosen organisations market segmentation criteria for products in different markets.(task2.1).
To achieve M1, evaluate the most important element of the three  additional elements of the extended mix.(Task3.5)
To achieve a M1 you will make effective judgements as to  the importance of the marketing mix to the marketing of services in consumer markets. (task4.1)

M2 Select / design and apply appropriate methods / techniques

Appropriate learning methods/techniques have been applied.

Relevant theories  have been applied
To achieve M2, you should use a variety of marketing tools, such as PEST analysis affecting your chosen organisation in your presentation(Task 2.1)
To achieve M2 you should show how macro and micro factors influence marketing decisions.(task2.1)
To achieve M2 choose three elements of the extended marketing mix for the organisation  to gain competitive advantage.(Task 3.5)

M3 Present and communicate appropriate findings    Communication is appropriate for familiar and unfamiliar audiences and appropriate media have been used.    To achieve M3 the work you present will be presented in suitable business formats such as reports,  presentations, diagrams, and will use business terminology and referencing accurately.
(Tasks 1,2,3,4)
D1 Use critical reflection to evaluate own work and justify valid conclusions    Conclusions have been arrived at through synthesis of ideas and have been justified.

Realistic improvements have been proposed against defined characteristics for success.

To achieve D1, You have drawn conclusions of the costs and benefits of marketing orientation for their business(task1.2)
To achieve D1 you will have drawn conclusions whether your organisation engages in  a marketing strategy opportunity and has the necessary resources to succeed in different market settings.(task2.3)

To achieve D1 you will have to justify the differences between marketing products and services for you financial products , justifying your ideas.(task4.2)

D2 Take responsibility for managing and organising activities    Activities have been managed.    To achieve D2 you will have demonstrated an effective approach to independent research and study and will have met the deadline to submit the tasks and achieve the unit assessment criteria.
(Tasks 1 ,2,3,4)
D3 Demonstrate convergent /lateral /  creative thinking    Convergent and lateral thinking have been applied.

Problems have been solved

Ideas have been generated and decisions taken

To achieve D3, you will identify how you could measure the effectiveness of the extended marketing mix elements  to an organisation(task3.5)
To achieve D3,you will identify how your organisation has proposed a new positioning idea to develop a product or service.(task2.4)

To achieve D3 you will have assessed how and why international marketing differs from domestic marketing. (Task4.3)

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