Marketing Principle and Practice
Marketing Principle and Practice
- Unit level: 4
- Unit Code: M/503/7077
- GLH: 60
- Credit value: 15
- Unit grading structure: Pass
- Assessment guidance: Learners will then be required to conduct an investigation of a business and analyse its marketing strategy. They will also develop a marketing plan for a specific product or service
- Unit Aims:
To develop an understanding of general marketing principles and their application to busines - Learning Outcomes
- Understand the role of Marketing in business
- Explain how marketing can be defined
- Explain the contribution of marketing to the achievement of business objectives
- Analyse the external factors influencing marketing
- Explain the role of marketing in a not for profit business
- Explain the elements of the marketing process
- Understand the principles of marketing
- Explain the different elements of the marketing mix
- Explain methods of segmenting markets
- Evaluate the benefits of segmenting markets
- Analyse different methods of researching a market
- Explain how current technology impacts on marketing activity
- Understand the application of the marketing mix in a specific business
- Review the market segments for a specific product or business
- Analyse how the business positions its products or services
- Explain how products are distributed
- Analyse the use of pricing strategies
- Analyse the promotional strategy used by the business
- Be able to develop a marketing plan for a specific product or service
- Propose strategic aims and objectives for the plan
- Determine the target market/s for marketing activity, with justification
- Analyse the macro and micro environmental factors influencing the marketing planning
- Propose a marketing mix for the product or service
- Explain how factors relevant to the implementation of the plan have been considered
- Understand the role of Marketing in business
