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Principles of Marketing
Principles of Marketing
Learn About Principles of Marketing
Principles of Marketing Online Course
This Principles of Marketing Online Course forms part of the Level 4 Diploma in Business. Some Universities may consider this Diploma in Business, as entry to a Business Degree program. If this is your intention, we strongly recommend that you approach the University of your choice for verification before you enroll with ADL.
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 further in your business career
- want to aspire to a career in business as soon as possible.
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.