Principles of Marketing
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Principles of Marketing
Pre-Requisite Modules: Academic Writing and Introduction to Business.
- Module 2 of the Level 4 Diploma in Business (4 modules – 2, 3 and 4 can be done in any order.)
- Course Code: ADL 4PM.
- Level 4.
- 15 Learning Credits.
- Hours 150.
- Entry requirement: GCSE maths and English (grade C or better) or equivalent.
This course forms part of the Level 4 Diploma in Business, which will allow you to use the qualification you receive, to support an application for a university degree program in business.
This course is ideal if you:
- wish to attend university and complete a business degree, but haven't achieved the required "A" level grades.
- have the required "A" levels, but want to save money on tuition fees and accommodation costs, by also completing level 5 and level 6 courses currently under construction.
- are a graduate wanting an introduction to business systems and theories.
- have no desire to attend university and are already working in a business organisation, wanting to progress up the ladder
- wish to pursue a career in business as soon as possible.
Unit overview: To enable the learner to understand the Principles of Marketing at both domestic and international levels.
Marketing as a discipline has its critics. These are the people who think of marketing as being a "poison pack" which is responsible for all the evils in the world - mainly because of criticisms relating to the effects of advertising.
However, marketing also has its devotees. Some people see marketing as a "magic wand"; they think that when a company has problems all they need to do is to get in a marketing manager and all the problems will disappear.
Neither of these viewpoints is correct. Marketing is now recognised almost as a science. It is seen as a logical approach to business which involves the studying, and understanding, of relationships and exchanges between buyers and sellers.
- The learner will: Understand the key terms and concepts in marketing.
- The learner will: Understand and apply the concepts associated with the marketing mix.
- The learner will: Understand the marketing of products and services.
- The learner will: Understand and apply marketing communication.
- The learner will: Understand the relationship between sales and marketing.
1. Understand the key terms and concepts in marketing
- Definition and nature of marketing.
- Customers and other stakeholders.
- Understand the components of marketing.
- Key business functions (production, sales, HRM, finance etc.)
- Internal marketing.
- Different types of orientation (e.g. sales, production, marketing, R&D etc.)
- Profit drivers: cost, efficiency, volume, price.
- Industry structure (e.g. monopoly, oligopoly) and their influence on orientation.
- Advantages of market orientation: acknowledging customers’ needs, importance of acquisition and retention, competitor factors.
- Macro / micro (internal / external) environments.
- PEST, PESTLE, STEEPLE variants.
- Porter’s Five Force Model.
2. Understand and apply the concepts associated with the marketing mix
- The 4 ‘Ps’ 2.
- Product decisions: product life cycle, design, pack size, features etc.
- Pricing decisions: approaches.
- Promotion objectives: communications.
- Placement decisions: where, when, how (logistics)?
- The market plan: content, timing.
- The 4Ps and the market plan.
- Strategic options.
3. Understand the marketing of products and services
- Tangible and intangible.
- Nature and characteristics of a service.
- Nature and characteristics of a product.
- The customer interface.
- Customer relationship.
- The extended 7Ps. The 4Ps plus:
- a. People (service delivery).
- b. Physical evidence (visibility).
- c. Process (CRMs, IT, customer handling).
4. Understand and apply marketing communication
- Marketing v marketing communications.
- Communication theory.
- a. Sender, message, receiver.
- b. Interference and feedback.
- c. Communication errors.
- a. Media and media mix.
- b. Objectives – awareness, attitudes, behavior.
- c. Message.
- d. Budget setting (e.g. percentage of sales, competitor matching, reach, impact.)
- e. Evaluation.
- a. Type: BOGOF, coupons, trial offers, banded offers, loyalty cards etc.
- b. Objectives: revenue boost, stock clearance, trials etc.
- Public Relations: stakeholders.
- Case study and project.
- Content of marketing plan.
- Content of marketing communication plan.
- Assessment of plans.
5. Understand the relationship between sales and marketing
- Definition of sales.
- Sales or marketing?
- Nature of personal selling: objectives and tactics.
- Sales sequence: process preparation to close and post-sales follow up.
- Projects and case study.
- Apply selling to B2B.
- Apply selling to B2C for a range of products: bespoke, high value, FMCG.
Your learning experience with ADL will not only depend on the quality of the course, but also the expertise of the person teaching it. This course has been written by Michael Booth and your course fee includes unlimited tutorial support from him throughout your studies with us. Here are Michael’s credentials:
Michael Booth – Course Writer and Tutor
B.Sc (Hons) Chemical Engineering, (University of Leeds), MSc with Merit Computer Science, (University of Kent), Executive Associate, Institute of Independent Business International
Michael has over 20 years experience in industry with a diverse academic background incorporating executive management, chemical engineering, and computer science. Michael has an international background and has worked as a technical director, production manager, and operations manager throughout companies across the world. He recently completed his MSc in Computer Science from the University of Kent, and is an executive associate of the Institute of the Independent Business International.
|Recognised Issuing Body||Training Qualifications UK (TQUK) - An Ofqual Awarding Organisation. Qualification will be issued by TQUK|
|Course Prerequisite||GCSE Grade C (or equivalent) in Maths and English Academic Writing supplied FOC with course Introduction to Business|
|UK Course Credits||15|
|Study Support||Study Support: You'll be allocated your own personal tutor/mentor who will support and mentor you throughout your whole course. Our tutors/mentors have been specifically chosen for their business expertise, qualifications and must be active within their industry. Tutors are contactable by e-mail, telephone and through our Moodle Student Support Zone online. Tutors are there to provide assistance with course material, discuss, explain and give advice and support throughout the whole programme. Their feedback is vital to your success.|
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