ASSIGNMENT 1 FRONT SHEET QualificationBTEC Level 4 HND Diploma in Business Unit number and titleUnit 2 Marketing Essentials Submission date DateReceived1stsubmission Re-submissionDateDateReceived2ndsubmission Student Name Phan Duy UyênStudent ID GBS200710 ClassGBS0908BAssessor nameNguyễn Thái Nguyệt Thanh Student declaration I certify that the assignment submission is entirely my own work and I fully understand the consequences of plagiarism. I understand that making a false declaration is a form of malpractice. Student’s signature Phan Duy Uyên Grading grid P1P2M1M2D1
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Grade:AssessorSignature:Date: InternalVerifier’sComments: Signature&Date: Assignment Brief (RQF) Higher National Certificate/Diploma in Business Student Name/ID Number: Unit Number and Title:Unit 2 Marketing Essentials Academic Year: Unit Assessor: Assignment Title:Assignment 2 – Marketing Mix Issue Date: Submission Date: Internal Verifier Name: Date: Submission Format: The submission is in the form of an individual written report. This should be written in a course, formal business style using 1.5 lines spacing and font size 12. You are required to make use of headings, paragraphs and subsections as appropriate, and all work must be supported with research and referenced using the Harvard referencing system. Please also provide a bibliography using the Harvard referencing system. Any suspicions
regarding plagiarism will lead to failure in results of the assignment. The recommended word limit is 3,000 words, although you will not be penalized for exceeding the total word limit. Unit Learning Outcomes: LO2.Compare ways in which organizations use elements of the marketing mix (7Ps) to achieve overall business objectives Assignment Brief and Guidance: You are a new member of Marketing Department of Company X. Your team is about to build a strategic marketing plan for a new product line, which will be launched in 3 months. To prepare for this, you have been assigned to conduct a small study in order to review the various ways in which organizations (especially your company competitors) use the marketing mix to achieve their overall business objectives. In this paper, you should be able to: 1.Explain relevant theory/concepts about the extended marketing mix (7Ps) 2.Provide a variety of examples and practices about how different organizations utilize each elements of the marketing mix 3.Critically analyse and evaluate marketing mix tactics applied by organizations through practical cases. Learning Outcomes and Assessment Criteria: Learning OutcomePassMeritDistinction LO2 Compare ways in which organisations use elements of the marketing mix (7Ps) to achieve overall business objectives P3 Compare the ways in which different organisations apply the marketing mix to the marketing planning process to achieve business objectives M3 Evaluate different tactics applied by organisations to demonstrate how business objectives can be achieved Contents Assignment Brief (RQF)...................................................................................................................................3 Higher National Certificate/Diploma in Business................................................................................3
I. Introduction..........................................................................................................................................................5 II. Relevant theory/concepts about the extended marketing mix (7Ps)................................................................6 1. The notions of marketing mix (7Ps).................................................................................................................6 1.1 Definition...................................................................................................................................................6 1.2 Roles and responsibilities within an organization.....................................................................................6 2. Marketing mix (7Ps) elements.........................................................................................................................7 2.1 Product: 3 levels of product.......................................................................................................................7 2.2 Price...........................................................................................................................................................9 2.3 Place.........................................................................................................................................................11 2.4 Promotion: 5 basic keys of promotion....................................................................................................14 2.5 People......................................................................................................................................................16 2.6 Process.....................................................................................................................................................16 2.7 Physical evidence.....................................................................................................................................17 III. Examples and practices about how different organizations utilize each elements of the marketing mix.....17 IV. Analyse and evaluate marketing mix tactics applied by organizations through practical cases....................20 1.TH True Milk...................................................................................................................................................20 1.1 Product.....................................................................................................................................................20 1.2 Price.........................................................................................................................................................21 1.3 Place.........................................................................................................................................................21 1.4 Promotion................................................................................................................................................22 1.5 Process.....................................................................................................................................................23 1.6 People......................................................................................................................................................24 1.7 Physical Evidence.....................................................................................................................................24 2. Vinamilk.........................................................................................................................................................25 2.1 Product.....................................................................................................................................................25 2.2 Price.........................................................................................................................................................26 2.3 Place.........................................................................................................................................................26 2.4 Promotion................................................................................................................................................27 2.5 Process.....................................................................................................................................................28 2.6 People......................................................................................................................................................28 2.7 Physical Evidence.....................................................................................................................................28 3. Discuss............................................................................................................................................................29 V. Conclusion.........................................................................................................................................................30
VI. References........................................................................................................................................................30 I. Introduction
Marketing is a critical instrument in modern corporate organizations; it entails a thorough grasp of the marketplace, consumer needs, and the development of lucrative relationships, a customer-driven market strategy, and the provision of goods to customers. The goal of this report is to offer short research that looks at how the marketing mix may be used to achieve business goals. The marketing department's function is critical to a product's success, much as the 7Ps are viewed as a tool to assist a strategic marketing plan. II. Relevant theory/concepts about the extended marketing mix (7Ps) 1. The notions of marketing mix (7Ps) 1.1 Definition A marketing mix is a tool composed of four distinct yet interrelated and interdependent factors. Each component is important in its own right and must be given the attention it deserves (cleverism, 2014) The marketing mix is the set of actions, or techniques, that a firm does to sell its brand or product ( Bhasin,2015) 1.2 Roles and responsibilities within an organization Marketing is actually the key to attaining the company's core goal. This might be for the purpose of making money or achieving some other goal. Even non-profit organizations require contemporary marketing techniques and philosophies to achieve their objectives. Marketing will not only help them raise awareness, but it will also help them raise cash and get contributions. They may actualize customer requirements with the aid of infirm marketing. Market research will enable the company to identify the customer demands that must be fulfilled, as well as assist in the creation of the ideal goods/services to suit these needs. Almost every aspect of marketing is covered, from product design and development to distribution channels and promotions, and everything in between. The company will satisfy all of a potential consumer's demands if the marketing concept is performed flawlessly. A satisfied consumer is more likely to return. Any firm's performance, development, and long-term prospects are all dependent on marketing (Toppr,2021)
2. Marketing mix (7Ps) elements There are 7Ps that you should utilize to continuously review and reevaluate your business operations once you've built an effective marketing plan. The expanded marketing mix consists of: product, price, place,promotion,people,process,physicalevidence. (Source:gtvseo.com) 2.1 Product: 3 levels of product A product is a commodity that a consumer consumes to satisfy his or her desires. There are two types of products: tangible (goods) and intangible (services). Tangible things are items that can be held in your hands. Jewelry, computers, clothing, and even CDs are all examples of physical things. When you go shopping in a store, everything you put in your shopping cart is a physical good. You may also buy online and add physical goods to your shopping basket. As long as anything gets shipped to you, it is a physical good.
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