Marketing Principle and Practice

Marketing Principle and Practice

  1. Unit level: 4
  2. Unit Code: M/503/7077
  3. GLH: 60
  4. Credit value: 15
  5. Unit grading structure: Pass
  6. 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
  7. Unit Aims:
    To develop an understanding of general marketing principles and their application to busines
  8. Learning Outcomes
    1. 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
    2. 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
    3. 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
    4. 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
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