Unit 2: Marketing Essentials
Unit code: R/508/0486
Unit type: Core
Unit 2: level 4
Value: 15 Credits
Introduction to Marketing Essentials
Distinction Essentials
Merit Criteria
Pass Criteria
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 underpinnings and frameworks, they will also be able to relate this to real- world examples including products or services that they encounter in their own daily lives.
Organizations such as Apple, Google, Visa, 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 organization 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 students will be able to:
LO1. Explain the role of marketing and how it interrelates with other functional units of an organisation.
LO2. Compare ways in which organisations use elements of the marketing mix (7Ps) to achieve overall business objectives.
LO3. 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 organisation
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.
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.
Good day guys! As you are about to kick start the journey of this unit , I will advise that you pay rapt attention to every single detail in this unit. Because all the unit sections are interlinked. This is going to help you to enjoy the course.
Now let us look at the first concept of this unit