Unit 2 Marketing Essentials
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.
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
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.
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