Marketing Principles

Aim

This unit aims to provide learners with understanding and skills relating to the fundamental concepts and principles that underpin the marketing process.

Learning outcomes and assessment

LO1 Understand the concept and process of marketing

1.1 explain the various elements of the marketing process

1.2 evaluate the benefits and costs of a marketing orientation for a selected organisation

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

2.1 show macro and micro environmental factors which influence marketing decisions

2.2 propose segmentation criteria to be used for products in different markets

2.3 choose a targeting strategy for a selected product/service

2.4 demonstrate how buyer behaviour affects marketing activities in different buying situations

2.5 propose new positioning for a selected product/service

LO3 Understand the individual elements of the extended marketing mix

3.1 explain how products are developed to sustain competitive advantage

3.2 explain how distribution is arranged to provide customer convenience

3.3 explain how prices are set to reflect an organisation’s objectives and market conditions

3.4 illustrate how promotional activity is integrated to achieve marketing objectives

3.5 analyse the additional elements of the extended marketing mix

LO4 Be able to use the marketing mix in different contexts

4.1 plan marketing mixes for two different segments in consumer markets

4.2 illustrate differences in marketing products and services to businesses rather than consumers

4.3 show how and why international marketing differs from domestic marketing.