Marketing Principles Unit level 4 Unit code F/601/0556 Unit type Core Term Start Date 12/09/2016 Hand out date 26/09/2016 Submission Deadline 20/11/2016 Lectures & Formative Assessments 8 Weeks Summative Assessment & Feedback 2 Weeks Guided learning hours 60 Module Leader Daniel Panford Lecturer pg. 2 0916 Table of Contents 1.1 Introduction 2 1.2 Learning Outcome 3 By the end of this unit a student will: 3 1.3 Essential Content 3 1.4 Scheme of Work 7 1.5 Teaching Ethos 11 1.6 Methods of Delivery 12 1.7 Plagiarism 12 1.8 Assignment brief 13 1.9 Evidence to achieve Pass, Merit and Distinction 17 2.0 Glossary of academic words used in this and other assignments 19 pg. 3 0916 1.1 Introduction This is a broad-based unit which gives learners the opportunity to 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. 1.2 Learning Outcome By the end of this unit a student will: 1 Understand the concept and process of marketing 2 Be able to use the concepts of segmentation, targeting and positioning 3 Understand the individual elements of the extended marketing mix 4 Be able to use the marketing mix in different contexts. pg. 4 0916 1.3 Essential Content 1 Understand the concept and process of marketing Definitions: alternative definitions including those of the Chartered Institute of Marketing and the American Marketing Association; satisfying customer needs and wants; value and satisfaction; exchange relationships; the changing emphasis of marketing Marketing concept: evolution of marketing; marketing orientations; societal issues and emergent philosophies; customer and competitor orientation; efficiency and effectiveness; limitations of the marketing concept Marketing process overview: marketing audit; integrated marketing; environmental analysis; SWOT analysis; marketing objectives; constraints; options; plans to include target markets and marketing mix; scope of marketing Costs and benefits: links between marketing orientation and building competitive advantage; benefits of building customer satisfaction; desired quality; service and customer care; relationship marketing; customer retention; customer profitability; costs of a too narrow marketing focus 2 Be able to use the concepts of segmentation, targeting and positioning Macro environment: environmental scanning; political, legal, economic, socio-cultural, ecological and technological factors Micro environment: stakeholders (organisation's own employees, suppliers, customers, intermediaries, owners, financiers, local residents, pressure groups and competitors); direct and indirect competitors; Porter's competitive forces Buyer behaviour: dimensions of buyer behaviour; environmental influences; personal variables – demographic, sociological, psychological – motivation, perception and learning; social factors; physiological stimuli; attitudes; other lifestyle and life cycle variables; consumer and organisational buying Segmentation: process of market selection; macro and micro segmentation; bases for segmenting markets, (geographic, demographic, psychographic and behavioural); multi- variable segmentation and typologies; benefits of segmentation; evaluation of segments and targeting strategies; positioning; segmenting industrial markets; size; value; standards; industrial classification Positioning: definition and meaning; influence over marketing mix factors 3  Understand the individual elements of the extended marketing mix pg. 5 0916 Product: products and brands – features, advantages and benefits; the total product concept; product mix; product life cycle and its effect on other elements of the marketing mix; product strategy; new product development; adoption process Place: customer convenience and availability; definition of channels; types and functions of intermediaries; channel selection; integration and distribution systems; franchising; physical distribution management and logistics; ethical issues Price: perceived value; pricing context and process; pricing strategies; demand elasticity; competition; costs, psychological, discriminatory; ethical issues Promotion: awareness and image; effective communication; integrated communication process (SOSTT + 4Ms); promotional mix elements; push and pull strategies; advertising above and below the line including packaging; public relations and sponsorship; sales promotion; direct marketing and personal selling; branding, internet and online marketing The shift from the 4Ps to the 7Ps: product-service continuum; concept of the extended marketing mix; the significance of the soft elements of marketing (people, physical evidence and process management) 4 Be able to use the marketing mix in different contexts Consumer markets: fast moving consumer goods; consumer durables; coordinated 
marketing mix to achieve objectives Organisational markets: differences from consumer markets; adding value through service; industrial; non- profit making; government; re-seller 
 Services: nature and characteristics of service products (intangibility, ownership, inseparability, perishability, variability, heterogeneity – the 7Ps); strategies; service quality; elements of physical product marketing; tangible and intangible benefits 
 International markets: globalisation; cultural differences; standardisation versus adaptation; the EU; benefits and risks; market attractiveness; international marketing mix strategies Recommended text and links: Baines, P., Fill, C. and Page, K. (2010) Marketing.2nd edition. Oxford, Oxford University Press. Fill, C. (2011) Essentials of marketing communications. Harlow, Financial Times/Prentice Bradley, N (2010) Marketing Research: tools and techniques.2nd edition. Oxford, Oxford pg. 6 0916 Roman, K. and Maas, J. (2005) How to advertise – what works, what doesn't and why.3rd edition. London, Kogan Page. Davis, A. (2007) Mastering public relations.2nd revised edition. London, 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 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 Websites www.bized.co.uk Bized provides a selection of teaching and learning resources www.cim.co.uk The Chartered Institute of Marketing's site contains a useful knowledge centre www.ft.com The Financial Times business sections www.thetimes100.co.uk multimedia resource Assessment criteria 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 pg. 7 0916 2.4 Demonstrate how buyer behavior affects marketing activities in different buying situations 2.5 Propose new positioning for as elected 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. pg. 8 0916 1.4 Scheme of Work Week Sessio n Lecture Schedule Outcome of session: The learner should be able to; Activity/semin ar and formative assessment Resources 1 AM Introduction to the module Address the mode of assessment Group discussion about the scenario with regards to the assignment and relevant tasks to be addressed  Awareness to the module content  Challenges to the LO to be addressed Case study and group discussion Module outline and qualification frame work PM Concept and process of marketing Defining marketing, evaluating of concept of marketing, analysing marketing orientation, marketing process- elements and evaluation Case study, activities, group discussion, research, addressing AC1.1 Power Point presentation, activities, Internet websites 2 AM Costs and benefits of a marketing orientation Analysing costs and benefits of marketing orientation – competitive advantage orientation and costs, perceived value for money, quality approach, analysing costs and profitability Case study, activities, group discussion, research, addressing AC1.2 Power Point presentation, activities, Internet websites pg. 9 0916 PM Macro and micro environmental factors affecting marketing decisions Analysing micro and macro environments of chosen organisations, stakeholder analysis, PEST analysis, Porter's five forces Case studies, addressing AC 2.1 Power Point presentation, activities, Internet websites 3 AM Buyer behaviour affecting marketing strategies Evaluating dimensions of buyer behaviour, analysing environmental influences, motivations and perceptions, PLC analysis Case study, activities, group discussion, research, addressing AC2.4 Power Point presentation, activities, Internet websites, movies PM Segmentation of customers Evaluating and analysing Segmentation criteria, proposing different criteria for segmentation, recognition of different customers and their needs Case study, activities, group discussion, research, addressing AC2.2 Power Point presentation, activities, Internet websites 4 AM Targeting and positioning Analysing targeting and positing strategies, choosing relevant strategies for different products, evaluating influence over marketing mix factors Visits, group discussion, research, addressing AC2.3, 2.5 Power Point presentation, activities, Internet websites, visits pg. 10 0916 PM Product development Analysing total product concept, evaluating different products according to needs, analysing branding strategies, PLC, analysing new product strategies Case study, activities, group discussion, research, addressing AC3.1 Power Point presentation, activities, Internet websites 5 AM Place – distribution, location Analysing different distribution strategies, importance of accessibility, convenience and availability, distribution channel analysis, logistics importance Case study, activities, group discussion, research, addressing AC3.2 Power Point presentation, activities, Internet websites PM Price strategies Analysing importance of price, pricing strategies evaluation, choosing the best strategy for organisation, importance of price elasticity, cost consideration Case study, activities, group discussion, research, addressing AC3.3 Power Point presentation, activities, Internet websites pg. 11 0916 6 AM Promotion strategies Evaluating promotional mix elements and importance, designing promotional campaign, analysis of integrative communication, PR strategies, e- marketing analysis Case study, visit, activities, group discussion, research, addressing Ac 3.4 Power Point presentation, activities, Internet websites, visits PM Marketing mix – 7P approach Evaluating extended marketing mix – 7p, importance of 7p in service, planning marketing mix for organisations operating in different segments Case study, visit, activities, group discussion, research, addressing AC 3.5 and 4.1 Power Point presentation, activities, Internet websites, visits pg. 12 0916 7 AM Products vs services marketing – differences International marketing Evaluating service characteristics, analysing importance of quality in service provision, analysing strategies for marketing of products and services Analysing cultural differences influencing marketing, defining globalisation, examples of international mix strategies in global markets Case study, visit, activities, group discussion, research, addressing AC 4.2 Case study, visit, activities, group discussion, research, addressing AC 4.3 Power Point presentation, activities, Internet websites, visits Power Point presentation, activities, Internet websites, visits PM Revision, summarising Revising and summarising unit Case study, activities, group discussion, research, addressing all ACs Power Point presentation, 8 Assignment support week Providing feedback for all ACs 9 Assignment support week Providing feedback for all ACs 10 Assignment submission – Please note: Learners are to attach all presentation slides to final report (copy and paste or print screen slides from power point) Assignment submission on Turnitin pg. 13 0916 1.5 Teaching Ethos The college's approach towards teaching and learning is simple and effective. The main aim of UKCBC is to assist learners in maximising their potential by ensuring that they are taught clearly and effectively. This will enable students to engage in the learning environment and promote success in both their academic studies and subsequent career. The module tutor(s) will aim to combine lectures, workshops and tutorial activities. This environment will provide opportunities for the student to understand the course material through case study and text and to apply it in a practical way. The intent is to facilitate interactive class activities, and discussion about the significant role of research in a global and local business environment. 1.6 Methods of Delivery LECTURES: These will be developed around the key concepts as mentioned in the indicative course content and will use a range of live examples and cases from business practice to demonstrate the application of theoretical concepts. This method is primarily used to identify and explain key aspects of the subject so that learners can utilise their private study time more effectively. SEMINARS: These are in addition to the lectures. The seminars are designed to give learners the opportunity to test their understanding of the material covered in the lectures and private study with the help of reference books. This methodology usually carries a set of questions identified in advance. Seminars are interactive sessions led by the learners. This method of study gives the learner an excellent opportunity to clarify any points of difficulty with the tutor and simultaneously develop their oral communication skills. CASE STUDIES An important learning methodology is the extensive use of case studies. They enable learners to apply the concepts that they learn in their subjects. The learners have to study the case, analyse the facts presented and arrive at conclusions and recommendations. This assists in the assessment of the learner's ability to apply to the real world the tools and techniques of analysis which they have learnt. The case study serves as a supplement to the theoretical knowledge imparted through the course work. 1.7 Plagiarism Any act of plagiarism will be seriously dealt with according to the colleges and awarding bodies' regulations. In this context the definition and scope of plagiarism are presented below: Plagiarism is presenting someone's work as your won. It includes copying information directly from the web or books without referencing the material; submitting joint coursework as an individual effort; copying another student's coursework; stealing coursework form another student and submitting it as your own work. Suspected pg. 14 0916 plagiarism will be investigated and if found to have occurred will be dealt with according to the college procedure. (For further details please refer to the plagiarism policy and the student code of conduct.) 1.8 Assignment brief Unit 4 Marketing Principles Unit code F/601/0556 Unit type Core Term Start date 12/09/2016 Assignment/hand-out date 26/09/2016 Deadline/hand-in date 20/11/2016 pg. 15 0916 Assignment title Marketing Principles Word count The suggested overall word count for this assignment is 3000 - 4000 words and no learner will be penalised for producing work outside this limit but should ensure their word count allows them to meet the assessment objectives Purpose of this assignment: This 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. Task 1 Driving a Hard Bargain Despite sophisticated uses of marketing tools and techniques some argue that many of the world's marketers of cars are still sales oriented when dealing with customers in car showrooms. In particular the approach to customers taken by the car salesperson is often based on a 'hard sell' that uses pressure to make a sale. The customer is in essence manipulated into a position where they feel they have to make the purchase. Lots of different sales techniques can be used to hard sell and pressurize the customer into a purchase. For example the salesperson can use the 'time pressure' technique '. . . This is the last one at the old price; prices go up by 5 per cent at the end of the week.' Another example is the 'play off' technique whereby the salesperson plays off one person against another. '. . . I'm sure your partner would appreciate the extra safety features on this model and the park assist system –after all you wouldn't want her to drive something that wasn't one hundred per cent safe would you sir?' Even apparently rational appeals which appear to be based on identifying and satisfying a customer's real needs and wants can be hard sell techniques masked as something else. '. . . I'm sure the change to a four door model will be invaluable when your new baby arrives'. Hard selling is still a feature of the car salesroom experience for many customers. Car salespersons are often still trained in these techniques. Furthermore car sales people are often incentivised by their companies on the basis of sales figures alone rather than more customer oriented bases such as pg. 16 0916 customer satisfaction or customer loyalty. Perhaps even worse is the fact that often the car salesperson views the sales process as a win/lose process with every unit of extra profit gained from the sale being a victory and every unit of profit lost as a failure. This confrontational attitude to negotiations with customers is that it often results in dissatisfied and ultimately lost customers. Understandably the customer who subsequently feels they have been pressurised into a purchase or who feels they were outmanoeuvred on the terms of the sale is unlikely to purchase again and will often pass on this dissatisfaction to friends and family. Certainly there is a case for purposeful selling and the effective salesperson should know how to overcome objections and close the sale but hard selling is now recognized as ineffective and inappropriate in the contemporary business environment. Unfortunately, driving hard bargains is still prevalent in many car salesrooms. You are required to use the above case and similar research to answer the following: 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 Task 2 The next management meeting At a recent senior management meeting, your CEO outlined a series of immediate challenges facing the company. She said that the marketing environment is too unpredictable and that this unpredictability has been undermining the company's ability to develop a sound and successful marketing strategy. She also mentioned the concepts of segmentation, targeting and positioning has little to do with the company's success. As a newly appointed advisor to the marketing strategy team, you disagree and suggest that good planning is based on a thorough analysis of the company's marketing environment, coupled with ongoing monitoring of environmental change and an understanding of the concepts of segmentation, targeting and positioning. As a consequence, she asks you to write a report on these topics for the next management meeting. You are required to write the report, using appropriate examples from an industry of your choice. Your report should address each one of the following: 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 behavior affects marketing activities in different buying situations 2.5 Propose new positioning for as elected product/service pg. 17 0916 Your answer need to be practical and appropriate to you chosen organisation Task 3 Your new role You have just been appointed as the marketing manager of a large bank. At your first briefing with the Marketing Director, he makes the comment that the marketing mix is a serious over simplification of the most important tool in the strategic marketer's tool box. He asks you to prepare a report on the extended elements of the marketing mix and to detail how it can be used in today's highly competitive market to create competitive advantage in the bank. You are required to prepare a report, using appropriate examples to respond to the Marketing Director. Your report should address each one of the following: 3.1 Explaining how products are developed to sustain competitive advantage 3.2 Explaining how distribution is arranged to provide customer convenience 3.3 Explaining how prices are set to reflect an organisation's objectives and market conditions 3.4 Illustrating how promotional activity is integrated to achieve marketing objectives 3.5 Analysing the additional elements of the extended marketing mix Task 4 The Job Interview You have been invited for a job interview for the position of a Marketing Director with Vodafone UK. The company is seeking to expand given the high level of competition on the UK market. As part of your interview you have been asked to prepare a PowerPoint presentation of how the marketing mix can be used in different contexts. Your slides should not be less the 9 but must not exceed 12 in total. You are required to use the above scenario and similar research to answer the following: 4.1 Plan marketing mixes for two different segments in consumer markets for Vodafone UK. Your plan should set out and communicate clearly what is to be done. 4.2 Illustrate differences in marketing products and services to businesses rather than consumers for Vodafone UK. Use examples to illustrate your points. 4.3 Show how and why international marketing differs from domestic marketing in the case of Vodafone UK. Your answer need to be practical and appropriate to a company such as Vodafone UK pg. 18 0916 1.9 Evidence to achieve Pass, Merit and Distinction Pass LO1 To achieve a Pass you must show an understanding the concept and process of marketing to address assessment criteria 1.1 & 1.2 as instructed. LO2 To achieve a Pass you must be able to use the concepts of segmentation, targeting and positioning to address assessment criteria 2.1, 2.2, 2.3, 2.4 & 2.5 as instructed LO3 To achieve a Pass you must be able to show understand of the individual elements of the extended marketing mix to address assessment criteria 3.1, 3.2, 3.3, 3.4 & 3.5 as instructed LO4 To achieve a Pass you must be able to use the marketing mix in different contexts to address assessment criteria 4.1, 4.2 & 4.3 as instructed Merit : M1. Identify and apply strategies to find appropriate solutions. An effective approach to study and research has been applied Has applied an effective approach to study and research by successfully identifying and applying the concept of the marketing process and its components. (AC1.1) M2. Select/ design and apply appropriate methods/ techniques. Complex information/data has been synthesised and processed A range of sources of information has been used to discuss the concepts of Targeting and Positioning clearly highlighting, where applicable, the benefits these concepts bring to Starbucks as an organisations (AC2.3 and AC2.5) Complex information/data have been synthesized and processed. pg. 19 0916 A range of sources of information has been used Has used complex information to propose Segmentation criteria for both consumer and business markets.(AC 2.2) M3. Present and communicate appropriate findings. The appropriate structure and approach has been used Coherent, logical development of principles/concepts for the intended audience Has applied appropriate structure and approach with logical development of appropriate concepts and successfully differentiated between product and service mix and showing rationale for the extended mix. (AC3.1 and AC3.5) Distinction D1. Use critical reflection to evaluate own work and justify valid conclusion. Conclusions have been arrived at through synthesis of ideas and have been justified Has applied an effective approach to study and successfully identified each one of the marketing concepts and evaluated the benefits and costs marketing orientation (AC 1.2). The validity of results has been evaluated using defined criteria Well justified conclusions have been arrived at through synthesis of ideas about how each element of the extended marketing mix plays its specific role and how the whole mix jointly enhances an organisation's marketing offer. (LO3) D2. Take responsibility for managing and organizing activities. Autonomy/independence has been demonstrated The importance of interdependence has been recognised and achieved Learner largely took own responsibility and demonstrated independence in planning and managing the entire work process. (LO1 to LO4) D3. Demonstrate convergent, lateral and creative thinking Effective thinking has taken place in unfamiliar contexts Ideas have been generated and decisions taken self- evaluation has taken place Innovation and creative thought have been applied Effective and innovative thinking has taken place in differentiating between domestic and international markets and the way marketing mix decisions are extended or adapted to suit the international context (AC 4.1 and 4.3). pg. 20 0916 2.0 Glossary of academic words used in this and other assignments   Account for Give reasons for: explain why something happens. Analyse Examine something in very close detail and from a number of angles. Identify the important points and chief features, and understand their relationships. Argue Present a case for and against a proposal or statement and present your own opinion at the end. Compare Show how two or more things are similar. Contrast Look at two or more things and draw out differences. State whether the differences are significant. Critically evaluate Weigh arguments for and against something, assess the strength of evidence on both Faisales. Define Give the exact meaning of. Describe Give a detailed account of the main features or characteristics ... pg. 21 0916 Discuss Write about the most important characteristics of something. Give arguments for and against, look at it from a variety of perspectives. Distinguish Identify the differences between two items. Evaluate Assess the worth or usefulness of something. Use evidence to support your opinion. Examine Look at something in detail. You may be expected to 'critically evaluate' it as well. Explain Make it clear why something happens or why it is the way it is. Identify Recognise name and briefly describe something. Illustrate Use examples to further explain or justify something. Could be visual or verbal. Interpret Explain the meaning or significance of information or data that you are presenting. Justify Provide evidence that supports an argument or idea. Outline Give only the main points, show only the main structure. Prove Present evidence in a logical structure to support an argument for a point of view. pg. 22 0916 Relate (Two meanings) 1. Show how ideas / theories/ events etc are linked or connected. 2. Tell a story. Explain something in a narrative fashion. Review Survey and comment on the key aspects of something or a range of things. State Give the main features clearly and simply. Summarise Draw out the main points, omitting detail and examples. To what extent… How far is something true, or contributes to a final outcome. Also how far is it not true? In academic writing the answer is usually somewhere in the middle. Trace Describe the development of something; follow the order