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Principles of Marketing

Principles of Marketing

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Principles of Marketing Online Course

This Principles of Marketing Online 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.

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 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.
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Module Structure:

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.
  • Advertising.
    • 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.
  • Promotions.
    • 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.
  • Feedback.

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.
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