Extended Marketing Mix Essay

Marketing Principles ASSESSMENT FRONT SHEET Programme: Unit Number and Title: Unit Level: Assignment Ref. Number: Module Tutor: Email: Date Set: MONT ROSE COLLEGE BTEC Higher National Diploma (HND) in Business Marketing Principles (Unit 4) 4 F/601/0556 CHIKA UGOJI c. [email protected] ac. uk 12/01/2013 Learner’s name and statement of authenticity Learner’s Name: ______________________ Learner’s ID: _______________ Date Handed-in: / / I certify that the work submitted for this assignment is my own. Where the work of others has been used to support my work then credit has been acknowledged.

Signature: _______________ Date: / / Learning Outcome The aim of this assignment is to measure the outcome of students’ learning in terms of knowledge acquired, understanding developed and skills or abilities gained in relation to achieve the learning outcomes (LO) and criteria (i. e. P,M,D): LO1: Understand the concept and process of marketing. LO2: Be able to use the concepts of segmentation, targeting and positioning. LO3: Understand the individual elements of the extended marketing mix. LO4: Be able to use the marketing mix in different contexts. Assessment Criteria (for Pass) AC 1. : Explain the various elements of the marketing process. AC 1. 2: Evaluate the benefits and costs of a marketing orientation for a selected organisation. AC 2. 1: Show macro and micro environmental factors which influence marketing decisions. AC 2. 2: Propose segmentation criteria to be used for products in different markets. AC 2. 3: Choose a targeting strategy for a selected product/service. AC 2. 4: Demonstrate how buyer behaviour affects marketing activities in different buying situations. AC 2. 5: Propose new positioning for a selected product/service. AC 3. : Explain how products are developed to sustain competitive advantage. AC 3. 2: Explain how distribution is arranged to provide customer convenience. AC 3. 3: Explain how prices are set to reflect an organisation’s objectives and market conditions. AC 3. 4: Illustrate how promotional activity is integrated to achieve marketing objectives. AC 3. 5: Analyse the additional elements of the extended marketing mix. AC 4. 1: Plan marketing mixes for two different segments in consumer markets. AC 4. 2: Illustrate differences in marketing products and services to businesses rather than consumers. AC 4. : Show how and why international marketing differs from domestic marketing. Descriptors (for Merit) M1: Identify and apply strategies to find appropriate solutions. M2: Select/design and apply appropriate methods/techniques. M3: Present and communicate appropriate findings. Descriptors (for Distinction) D1: Use critical reflection to evaluate own work and justify valid conclusions. D2: Take responsibility for managing and organising activities. D3: Demonstrate convergent/lateral/creative thinking. 1 Unit 4: Marketing Principles GUILDHALL COLLEGE LEARNER’S BRIEF Programme: Unit Number and Title: Unit Level: Assignment Ref.

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Number: Module Tutor: Email: Date Set: BTEC Higher National Diploma (HND) in Business Marketing Principles (Unit 4) 4 F/601/0556 CHIKA UGOJI c. [email protected] ac. uk 222/01/13 KEY DATES Distribution Date Task 1 Submission Date Task 2 Submission Date Task 3 Submission Date Task 4 Submission Date Final Submission Date (Print COPY): : : : : : 22/01/13 26/01/13 05/02/13 12/03/13 19/03/13 th 5 April. 2013 (Both hard copy and soft copy) INTRODUCTION This is a broad-based unit which gives learners the opportunity apply the key principles of marketing.

Marketing is changing rapidly to meet the changing world. Marketing remains the business activity that identifies an organisation’s customer needs and wants, determines which target markets it can serve best and designs appropriate products, services and programmes to serve these markets. However, marketing is much more than an isolated business function. It is a philosophy that guides the entire organisation. The goal of marketing oriented firm is to create customer satisfaction profitably by building valued relationships with customers. The marketing people cannot accomplish this goal by themselves.

They must work closely with other people in their company and with other organisations in their value chain, to provide superior value to customers. Thus, learners need to identify that marketing calls upon everyone in the organisation to ‘think about the customer’ and to do all that they can to help create and deliver superior customer value and satisfaction. You are required to complete various tasks that will guide the learning and development process, as well as provide an evidence of your achievements. Firstly, the unit looks at the definitions of marketing, and what is meant by a marketing orientation and the marketing process.

Next, learners will 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 also 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. For this module, you will be required to complete some tasks individually as well as in groups. The purpose of individual tasks is to develop your research skills, data collection and critical thinking.

The aim of group activities is to encourage teamwork, collaboration and interpersonal skills. It is important that you complete all tasks on time and submit/deliver the tasks in the required format. 2 Unit 4: Marketing Principles ASSIGNMENT Task 1 [Individual Essay] Due Date: 26/2/13 In order to understand the concept and process of marketing, you are required to define marketing with the help of different definitions. Explain various elements of the marketing process and evaluate benefits and costs of marketing orientation for a selected organisation.

You are required to choose an organisation (preferably on that you are familiar with) for this task and give reference to the organisation in different sections, to demonstrate your knowledge, understanding and application of the concepts and processes of marketing. In this task you will be analysing and evaluating various concepts of marketing by achieving following assessment criteria: LO1 Understand the concept and process of marketing AC 1. 1: Explain the various elements of the marketing process. ? Provide at least two definitions of marketing and explain in your own words. ? Define customer’s needs and wants.

Discuss why it is important to satisfy customer’s needs and wants by the marketers. ? Define and explain customer’s value, satisfaction, exchange relationship and the changing emphasis of marketing. ? Discuss the evolution of marketing, marketing orientation, customer orientation and competitor orientation, efficiency and effectiveness. ? Identify limitations of the marketing concept and propose some other strategies briefly. AC 1. 2: Evaluate the benefits and costs of a marketing orientation for a selected organisation. ? Perform marketing audit for your chosen organisation by analysing internal and external environment.

You can use SWOT and PEST model. [D1] ? Explain the importance having marketing objectives for a firm. Discuss some marketing objectives of your chosen organisation. Important: You are required to give acknowledgement of any secondary data by using appropriate referencing system (Harvard Reference System). Any material which is taken from a secondary source, i. e. book or website, must be rephrased in your own words and acknowledged accordingly. 3 Unit 4: Marketing Principles Task 2 [Group Report] Due Date: 5/03/13 (This is a group task. Each group can have a maximum of three –four members. Each group is required to select a business firm from retail sector (operating in the UK) and analyse the products and services offered by the firm. Identify the firm’s macro and micro environment and the strategy adopted by the firm to manage various factors existing in both these environments. Also, you will be analysing importance of market segmentation, targeting and positioning strategies. The aim of this task is to analyse and identify how firms manage various environmental factors and how marketers divide a large market into small segments as well as significance of targeting and positioning in the market.

You are required to generate a group report on the following learning outcome and topics: LO2 Be able to use the concepts of segmentation, targeting and positioning AC 2. 1 Show macro and micro environmental factors which influence marketing decisions Draw a diagram keeping your selected firm in the middle and the key environmental factors. You should identify all micro and macro environmental factors affecting marketing function of your chosen firm. Briefly define each environmental factor that you have identified and explain why you consider these factors important.

You can choose from political, legal, economic, socio-cultural, ecological and technological factors, as well as stakeholders like organisation’s own employees, suppliers, customers, intermediaries, owners, financiers, local residents, pressure groups and competitors. AC 2. 2 Propose segmentation criteria to be used for products in different markets Draw a table and compare various segmentation methods used by marketing managers. Apply various segmentation criteria to your selected business firm (considering the key products and services they sell) and select suitable segmentation strategy for UK market and for European market.

You are required to propose one segmentation strategy for UK and one for European market. AC 2. 3 Choose a targeting strategy for a selected product/service Refer to previous task in AC 2. 2 while completing this task. Define targeting and why it is important (Give a brief note)? Select targeting strategies for one of the product sold by the firm. You are required to propose one targeting strategy for UK market and one targeting strategy for the European market, for similar product. You should demonstrate that effective judgements have been made in giving reasons why you have selected that targeting strategy. M1] AC 2. 4 Demonstrate how buyer behaviour affects marketing activities in different buying situations You are required to write a survey report. Develop a short questionnaire/survey asking questions about buying behaviour and buying habits and write a brief report. Distribute it among your group (or class fellows) and gather as much information as you can, regarding each individual’s buying preferences (including yourself). You can select similar product used for AC 2. 3 or a different product but sold by the same business firm that you have selected for Task 2.

The areas that you can target in your questionnaire may include environmental influences, personal variables (demographic, sociological, psychological, motivation, perception and learning), social factors, lifestyle and life cycle variables. 4 Unit 4: Marketing Principles (Note: You are required to attach all completed questionnaires with the final portfolio as an evidence of data collection. As this is a group task, make sure each group member gets a copy of the completed questionnaires to attach with their final portfolio. ) AC 2. Propose new positioning for a selected product/service Draw a table to propose a positioning strategy (for the similar product that you have used for previous tasks). Choose a positioning strategy for the selected product. Complete each step by relating it with the selected product/firm and the market segment that you are targeting. You can discuss product’s marketing mix factors to further support your proposed positioning strategy. You should demonstrate evidence of effective teamwork and the importance of interdependence has been recognised.

The task should demonstrate planning and progress followed in clear steps. State if there were any problems while completing this group work and how the team has managed them. (D2) NB: Individual Reflection on the group work (additional individual report to the group work) Important: You are required to give acknowledgement of any secondary data by using appropriate referencing system (Harvard Reference System). Any material which is taken from a secondary source, i. e. book or website, must be rephrased in your own words and acknowledged accordingly. Task 3 [Individual Task, based on company case study]

Due Date: 12/03/13 This task is aimed at one of the most important concept of marketing, the marketing mix elements. You are required to produce a report by targeting on all marketing mix elements offered by a selected organisation, including product, place, promotion and price. Also, you need to highlight your knowledge and understanding of the extended marketing mix elements including people, physical evidence and process management and evaluate further (M2). A good start for this task will be to select an organisation and identify how the firm manages each marketing mix element.

You can follow a mind-map or draw a graph linking to your selected organisation. You can reflect on daily operations and the way the firm operates in the market and how it interacts with customers. Also, you can collect marketing mix information of the firm from their website. Below are the topic and assessment criteria elements for this assignment: 3 Understand the individual elements of the extended marketing mix AC 3. 1 Explain how products are developed to sustain competitive advantage ? Define the concept of product. Identify the key products offered by your chosen organisation.

Explain the product design, quality level, features and packaging as perceived by the customers. What branding strategies are followed by the firm for their products? How would you classify the key products offered by the firm (pure good, pure service or a Combination of both)? AC 3. 2 Explain how distribution is arranged to provide customer convenience ? Define the concept of place. List the intermediaries and distribution channels used by the firm to access its key customers. Highlight the positive and negative points of the distribution method being used and how they create value for the firm as well as for customers.

Provide at least one suggestion to improve distribution function of the firm. AC 3. 3 Explain how prices are set to reflect an organisation’s objectives and market conditions ? Define the concept of price. Identify different pricing strategies and the key pricing strategy employed by the firm. How would you classify the firm’s pricing strategy compared with their competitors? Suggest future pricing strategy to the firm which can help them face competition and provide value to the customers. 5 Unit 4: Marketing Principles AC 3. 4 Illustrate how promotional activity is integrated to achieve marketing objectives ?

Define the concept of promotion. Highlight the main promotional methods used by the firm (advertising, public relations and sponsorship, sales promotion, direct marketing and personal selling). Why the use these promotional tools only? What share internet and online marketing play in the current promotional strategy of the firm? Provide at least one suggestion to improve promotional function of the firm. AC 3. 5 Analyse the additional elements of the extended marketing mix ? Define the concepts of people, physical evidence and process management, in relations to other marketing mix elements.

Which of the extended marketing mix concepts are important for your chosen firm and why? Suggest future strategy to the firm which can help them effectively use extended marketing mix elements in providing value to their customers. ? ? You need to highlight your knowledge and understanding of the extended marketing mix elements including people, physical evidence and process management and evaluate further. (M2) You should be able to demonstrate creativity and independent style in completing the poster assignment.

Detailed knowledge about your chosen business firm is also essential. Rather than referring to the theories and definitions taught in the class, you should be able to generate new ideas, provide recommendations based on detailed analysis. (D3) Important: You are required to give acknowledgement of any secondary data by using appropriate referencing system (Harvard Reference System). Any material which is taken from a secondary source, i. e. book or website, must be rephrased in your own words and acknowledged accordingly. ? Task 4 [Individual Report] Due Date: 26/03/13

The aim of this task is to explore the concepts of marketing mix in relations to real segments in the consumer market. You are required to illustrate differences in marketing products and services to businesses consumers. Also, you should present detailed analysis of how and why international marketing differs from domestic marketing. Provide findings and results based on Following is the topic and assessment criteria for task below; 4 Be able to use the marketing mix in different contexts AC 4. 1 Plan marketing mixes for two different segments in consumer markets ?

You are required to choose two different segments out of consumer market. Propose one different product to each segment and plan all marketing mix element for each segment. You should carefully identify and analyse the key features of each market segment while suggesting marketing mix strategy. Also, you should demonstrate that your documentation is well structured and the language is appropriate for the course and to the audience. [M3] AC 4. 2 Illustrate differences in marketing products and services to businesses rather than consumers ?

Business market is completely different than consumer markets. You are required to highlight this difference by defining the concept of business market and list the key differences between business and consumer markets. Also, you should highlight the nature and characteristic of service products including intangibility, ownership, inseparability, perishability, variability and heterogeneity. 6 ? Unit 4: Marketing Principles AC 4. 3 Show how and why international marketing differs from domestic marketing ? International business is full of challenges and complex business environment.

You should present the key differences between international marketing and domestic marketing. You can discuss the concepts including globalisation, cultural differences, international markets VS domestic markets benefits and risks involved in both markets. Important: You are required to give acknowledgement of any secondary data by using appropriate referencing system (Harvard Reference System). Any material which is taken from a secondary source, i. e. book or website, must be rephrased in your own words and acknowledged accordingly. 7 Unit 4: Marketing Principles

Learning Outcomes, Assessment and Grading Criteria Merit Descriptors Distinction Descriptors M1: Identify and apply strategies to find D1: Use critical reflection to evaluate own work appropriate solutions and justify valid conclusions M2: Select/design and apply appropriate D2: Take responsibility for managing and methods/techniques organising activities M3: Present and communicate appropriate D3: Demonstrate convergent/lateral/creative findings thinking Achievement of a pass grade: A pass grade is achieved by meeting all the requirements defined in the assessment criteria for pass for each unit. Unit 4: Marketing Principles Achievement of a merit or Distinction grade: All the assessment criteria and merit grade descriptors need to be completed within a unit to achieve a merit grade. All the assessment criteria merit and distinction grade descriptors must be completed within a unit to achieve a distinction grade. Grade Descriptors: Merit Indicative Characteristics Contextualised Grade Guidance M1 Identify and apply strategies to find appropriate solutions ? ? M2 Select/design and apply appropriate methods/techniques ? ? ? ? ? ? ? M3 Present and communicate appropriate findings ? ? ? ? ? ? effective judgements have been made complex problems with more than one variable have been explored an effective approach to study and research has been applied relevant theories and techniques have been applied a range of methods and techniques have been applied a range of sources of information as been used the selection of methods and techniques/sources has been justified the design of methods/techniques has been justified complex information/data has been synthesised and processed appropriate learning methods/techniques have been applied the appropriate structure and approach has been used coherent, logical development of principles/concepts for the intended audience a range of methods of presentation have been used and technical language has been accurately used communication has taken place in familiar and unfamiliar contexts The communication is appropriate for familiar and unfamiliar audiences and appropriate media have been used. Effective judgements have been made in giving reasons why you have selected that targeting strategy. [AC 2. 3]

You have highlighted your knowledge and understanding of the extended marketing mix elements including people, physical evidence and process management and evaluated further. [AC 3. 5] You should carefully identify and analyse the key features of each market segment while suggesting marketing mix strategy. Also, you should demonstrate that your documentation is well structured and the language is appropriate for the course and to the audience. [AC 4. 1] 9 Unit 4: Marketing Principles Grade Descriptors: Distinction D1 Use critical reflection to evaluate own work and justify valid conclusions Indicative Characteristics ? ? ? ? ? Guidance conclusions have been arrived at through synthesis of ideas and have been justified the validity of results has been evaluated using defined criteria elf-criticism of approach has taken place realistic improvements have been proposed against defined characteristics for success Perform marketing audit for your chosen organisation by analysing internal and external environment. You can use SWOT and PEST model. [AC 1. 2] D2 Take responsibility for managing and organising activities ? ? ? ? ? autonomy/independence has been demonstrated substantial activities, projects or investigations have been planned, managed and organised activities have been managed the unforeseen has been accommodated the importance of interdependence has been recognised and achieved Evidence of effective teamwork and the importance of interdependence has been recognised. The task should demonstrate planning and progress followed in clear steps.

State if there were any problems while completing this group work and how the team has managed them. [AC 2. 1, 2. 2, 2. 3, 2. 4] D3 Demonstrate convergent / lateral / creative thinking ? ? ? ? ? ? ? ideas have been generated and decisions taken self-evaluation has taken place convergent and lateral thinking have been applied problems have been solved innovation and creative thought have been applied receptiveness to new ideas is evident effective thinking has taken place in unfamiliar contexts You should be able to demonstrate creativity and independent style in completing the poster assignment. Detailed knowledge about your chosen business firm is also essential.

Rather than referring to the theories and definitions taught in the class, you should be able to generate new ideas, provide recommendations based on detailed analysis. [AC 3. 1,3. 2, 3. 3, 3. 4, 3. 5] 10 Unit 4: Marketing Principles Plagiarism and Collusion Any act of plagiarism and collusion will be seriously dealt with according to the regulations. In this context the definition and scope of plagiarism are presented below: ‘Plagiarism occurs when a student misrepresents, as his/her own work, the work, written or otherwise, of any other person (including another student) or of any institution. Examples of forms of plagiarism include1: ? the verbatim (word for word) copying of another’s work without appropriate and correctly presented acknowledgement; ? he close paraphrasing of another’s work by simply changing a few words or altering the order of presentation, without appropriate and correctly presented acknowledgement; ? unacknowledged quotation of phrases from another’s work; ? The deliberate and detailed presentation of another’s concept as one’s own. ’ All types of work submitted by students are covered by this definition, including, written work, diagrams, designs, engineering drawings and pictures. ‘Collusion occurs when, unless with official approval (e. g. in the case of group projects), two or more students consciously collaborate in the preparation and production of work which is ultimately submitted by each in an identical, or substantially similar, form and/or is represented by each to be the product of his or her individual efforts.

Collusion also occurs where there is unauthorised co-operation between a student and another person in the preparation and production of work which is presented as the student’s own. (ibid) Extension and Late Submission If an extension is necessary for a valid reason, requests can me made using a course work extension request form available from the college. Please note that the lecturers do not have the authority to extend the coursework deadlines and therefore do not ask them to award a coursework extension. The completed form must be accompanied by evidence such as a medical certificate in the event of you being sick. Support Material Textbooks Kotler, P. ; Armstrong, G. (2005) Principles of Marketing, 11th edition, Prentice Hall.

ISBN10:0131469185. ? Brassington, F. ; Pettitt, S. (2002) Principles of Marketing, 3 edition, Prentice Hall. ISBN-13: 978-0273657910. Website: ? 11 Unit 4: Marketing Principles ? ? ? The Chartered institute of Marketing: http://www. cim. co. uk/ Harvard Business School: http://hbswk. hbs. edu/topics/marketing. html Free Marketing Journals: http://www. tandfonline. com/ ? ASSESSMENT DECISION GUILDHALL COLLEGE Programme: Unit Number and Title: Unit Level: Assignment Ref. Number: Module Tutor: BTEC Higher National Diploma (HND) in Business Marketing Principles (Unit 4) 4 F/601/0556 chika ugoji Learner ID: ____________________ Learner’s Name: _____________________

Information /Feedback on assessment and grading criteria Assessment Criteria AC1. 1 AC1. 2 Explain the various elements of the marketing process. Evaluate the benefits and costs of a marketing orientation for a selected organisation. Show macro and micro environmental factors which influence marketing decisions. Propose segmentation criteria to be used for products in different markets. Choose a targeting strategy for a selected product/service. Demonstrate how buyer behaviour affects marketing activities in different buying situations. Propose new positioning for a selected product/service. Explain how products are developed to sustain competitive advantage.

Explain how distribution is arranged to provide customer convenience. Explain how prices are set to reflect an organisation’s objectives and market conditions. Achieved Evidence Feedback AC2. 1 AC2. 2 AC2. 3 AC2. 4 AC2. 5 AC3. 1 AC3. 2 AC3. 3 12 Unit 4: Marketing Principles Illustrate how promotional activity is integrated to achieve marketing objectives. Analyse the additional elements of the extended marketing mix. Plan marketing mixes for two different segments in consumer markets. Illustrate differences in marketing products and services to businesses rather than consumers. Show how and why international marketing differs from domestic marketing. AC3. 4 AC3. 5 AC4. 1 AC4. 2 AC4. 3

Grading Criteria (Merit -M; Distinction -D) Identify and apply strategies to M1 find appropriate solutions Select/design and apply appropriate methods/techniques M2 Present and communicate M3 appropriate findings Achieved Evidence Feedback D1 D2 D3 Use critical reflection to evaluate own work and justify valid conclusions Take responsibility for managing and organising activities Demonstrate convergent/lateral/creative thinking Assessor’s General Comments: Assessor’s Signature: Print Name: Date: Learner’s Comments: Signature: Print Name: Date: 13 Unit 4: Marketing Principles Feedback of this coursework will normally be given to students four week after the submission of an assignment. 14

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