HND Principles of Marketing

HND Principles of Marketing

Introduction

HND Principles of MarketingThis 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.

Aims
On successful completion of this unit a learner will:

  • • 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.

Skills
By the end of the module students should have developed skills in:

a) Communication and literacy: through writing students will develop effective writing skills for variety of purposes. They will develop skills in the use of appropriate words, showing commas, full stops and clearer understanding of sentences.

b) Problem solving: through the identification of models; formulating an appropriate strategy to answer this question; and evaluating the appropriate tools used in problem solving. c) Independent learning and working: through completing a sustained self-directed piece that necessitates self-reliance, planning, flexibility, managing information, self-criticism, reflection and resilience.

d) Information and communications technology: appropriate software such as Microsoft word for assignment submission and PowerPoint for presentations

Supporting Material:

Resources

  • 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
  • M. S. Wilson and Colin Gilligan, Strategic Marketing Management: Planning, Implementation, and Control, 3rd Edition (2005), Butterworth-Heinemann, ISBN: 0 7506 5938 6
  • Baines, P. Fill, C. and Page, K. (2008), Marketing, Oxford, ISBN: 9-780199290437
  • Palmer, A. (2009), Introduction to Marketing Theory and Practice, 2nd Edition, Oxford. ISBN: 9780199557448

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

Pass Grade Requirement

LO1:understand the concept and process of marketing

LO1.1 Explain the various elements of the marketing process

A fast growing supermarket Iceland has decided to facilitate their marketing. As a marketing executive, briefly define the concept of marketing and explain the various elements of the marketing process. For example marketing audit; integrated marketing; environmental analysis; SWOT analysis; marketing objectives; constraints; options; plans to include target markets and marketing mix; scope of marketing

LO1.2 Evaluate the benefits and costs of a marketing orientation for a selected organization. Define the meaning of marketing orientation and explain the benefits associated with it. Outline and explain the costs. Evaluate the costs and benefits of marketing orientation.

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

  • LO2.1 Show macro and micro environmental factors which influence marketing decisions As the advisor for the supermarket, outline the marketing environment of the organization will be monitoring and scanning. Explain how these elements in the environment can influence marketing decisions.
  • LO2.2 Propose segmentation criteria to be used for products in different markets You are required to define segmentation and how the organization can segment its markets. Show how the segment(s) can be effective using standards like measurability, accessibility, profitability and substantiality
  • LO2.3 Choose a targeting strategy for a selected product/service Explain the meaning of targeting the market that the organization operates in and outline the various targeting strategies. Select a product/ service that the organization sells and show the targeting strategy which is appropriate for the product/service.
  • LO2.4 Demonstrate how buyer behaviour affects marketing activities in different buying situations As the advisor of the organization explain the meaning of buyer behaviour. There are also buying situations to be looked at. Find the buying behaviours which can correspond with these buying situations and evaluate how these will affect marketing activities.
  • LO2.5 Propose new positioning for a selected product/service You are advising the organization to define their positioning. After selecting a product, a new positioning should be identified and mapped for the organization to follow.

LO3 Understand the individual elements of the extended marketing mix

  • LO3.1 Explain how products are developed to sustain competitive advantage As a consultant for the supermarket, define and explain the new product development process that is appropriate amongst the various ones available. Explain why it can be successful and capable of being a source of competitive advantage.
  • LO3.2 Explain how distribution is arranged to provide customer convenience As an advisor, explain what distribution is and produce the best way that the organization will set up a distribution channel to provide customer convenience.
  • LO3.3 Explain how prices are set to reflect an organisation’s objectives and market conditions Explain how the organization set prices and the corresponding pricing strategy. Explain what prices are. Explain how the organization uses their price setting to reflect the organizations objectives and market conditions. It is necessary to explain what market conditions are.
  • LO3.4 Illustrate how promotional activity is integrated to achieve marketing objectives Explain the various types of promotional activity available to the organization. Show how they can be combined to achieve the best effect.

3.5 Analyse the additional elements of the extended marketing mix As the advisor on marketing explain the marketing mix and state the importance of extending the marketing mix. Outline the extra elements of the marketing mi.

LO4 Be able to use the marketing mix in different contexts

  • LO4.1 Plan marketing mixes for two different segments in consumer markets Chose two different markets and describe them. Chose two separate combinations of marketing mix elements and apply each to each market.
  • LO4.2 Illustrate differences in marketing products and services to businesses rather than consumers As the advisor, explain how products are marketed. On the other hand, explain how services are marketed. Illustrate the differences.
  • LO4.3 Show how and why international marketing differs from domestic marketing. Define and explain the meaning of domestic marketing. How can it be compared to international marketing after international marketing is defined and explained.

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.

PLAGIARISM

STATEMENT ON DISHONEST MEANS FOR ASSESSMENT BRIEFS

Your attention is drawn to the College Regulations for Assessment Dishonest Means in Assessment. Dishonest Means includes plagiarism, syndication or collusion, re-presentation, fabrication, impersonation, procedural dishonesty, cheating in closed assessment. Penalties are severe.

Careful referencing of sources is vital when making use of the work of others. You are expected to employ the referencing conventions recommended in the Field/Course. These conventions apply to information taken from internet sources, as well as books, journals and lectures. These are some of the points you should check before submitting your work:

Are all direct quotations, from both primary and secondary sources, suitably acknowledged (placed in quotation marks or indented)? Have you provided full details of the source of the quotation, according to the referencing convention used in the Field/Course? Have you acknowledged the source of ideas not your own, even if you are not quoting directly from the source? Have you avoided close paraphrase from sources? (Check that you are not presenting other people’s words or phrasing as if they are your own.) If you have worked closely with others in preparing for this assessment, is the material you are presenting sufficiently your own?

If you are unsure of the way to reference properly, seek advice from a member of staff before you submit the assessment. In submitting your work for assessment you are making a statement that it is your own work, it has not been submitted for any other assessment, and it does not infringe the ethical principles set out in the College’s Handbook for Research Ethics.

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.

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