Unit 2 marketing essentials | Mathematics homework help

  

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Unit 2 Marketing Essentials

Marketing Essentials

Introduction

This unit is designed to introduce students to the principles of marketing, enabling

them to develop a basic marketing plan and to employ elements of the marketing

mix to achieve results. While they will learn the underpinning theories and

frameworks, they will also be able to relate these to real-world examples, including

products/services that they encounter in their own daily lives.

Organizations such as Apple, Google, VISA, Burberry, Zara, Cadbury, Nestle,

Unilever, Coca-Cola, Unicef, BP and small local businesses all have at least one

thing in common: they all use marketing to influence us to engage with their

products and/or services. Whether it is becoming a loyal customer buying a product

and service or donating to a charity, organizations use a range of marketing

techniques and tools to inform and influence us.

The knowledge, understanding and skill sets that students will gain on successfully

completing this unit will enhance their career opportunities; whether setting up

their own business or being employed by an organization.

Learning Outcomes

By the end of this unit a student will be able to:

1 Explain the role of marketing and how it interrelates with other functional units

of an organization.

2 Compare ways in which organizations use elements of the marketing mix (7Ps)

to achieve overall business objectives.

3 Develop and evaluate a basic marketing plan.

Unit 2 Marketing Essentials

Description: Poster 2.jpg

Essential Content

LO1 Explain the role of marketing and how it interrelates with other

functional units of an organization

Definitions and the marketing concept:

Definitions of marketing and the nature of marketing.

The development of the marketing concept, including current and future trends.

How the external environment influences and impacts upon marketing activity.

The role of marketing:

The structure and operations of marketing departments.

Overview of marketing processes that include analysis, strategic planning and

the marketing mix.

The different roles of marketing within both a B2C and B2B context.

The interrelationships of functional units:

Marketing as a business function.

The different roles of business units and the interrelationships between these

functional units and marketing

Unit 2 Marketing Essentials

Description: Poster 1.jpg

LO2 Compare ways in which organisations use elements of the marketing

mix (7Ps) to achieve overall business objectives

The 7Ps marketing mix:

Product: Differences between products and services, importance of brands,

product development and product lifestyle.

Price: Pricing context, pricing strategies and tactics.

Place: Channel management, supply chain management and logistics.

Promotion: Integrated communication mix and promotional tools.

People: The different roles of ‘people’ in marketing, including customer

interfacing and support personnel. The different skills, attitudes and behaviour

of people delivering the product or service to customers.

Physical evidence: The tangible aspects of service delivery ???? visual, aural and

olfactory elements.

Process: Systems and processes involved in delivering a consistent service.

Different types of processes used to expedite the marketing function.

Achieving overall business objectives:

The shift from the 4Ps to the 7Ps and the significance of the extended

marketing mix.

An overview of the marketing planning process (Analysis, Planning,

Implementation and Control) and marketing strategy

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LO3 Develop and evaluate a basic marketing plan

Marketing planning:

The importance and value of marketing plans.

The links between marketing plans, marketing objectives and marketing

strategies.

Evaluating and monitoring marketing plans using appropriate control and

evaluation techniques such as sales analysis, market-share analysis, efficiency

ratios and cost-profitability analysis.

Structure and development of marketing plans:

Market segmentation and target market selection.

Setting goals and objectives, situational analysis tools and techniques,

creating a marketing strategy and allocation of resources and monitoring and

control measures.

Unit 2 Marketing Essentials

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