Marketing Essentials: An Analysis of Marketing Management Process
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This report provides a comprehensive overview of marketing management, starting with the roles and responsibilities of the marketing function and analyzing the 4Cs (Customer, Cost, Convenience, Communication) and their impact on the marketing management process. It explores market opportunities and consumer buying behavior, explaining market segmentation and how organizations use it for targeting and positioning decisions. The report also examines how organizations analyze consumer buying behavior and its impact on marketing strategy. Furthermore, it delves into product, pricing, and distribution decisions, analyzing different tactics applied by organizations. Finally, the report examines marketing strategies for new market entries, growth markets, mature, and declining markets, providing examples and critical analysis of the 7Ps (marketing mix) to devise an effective marketing plan. Desklib offers this assignment solution and many other resources for students.
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2023
Unit 7 – Marketing Essentials
Undergraduate diploma in business management
mark spagnol – 305693m – submission date:
Unit 7 – Marketing Essentials
Undergraduate diploma in business management
mark spagnol – 305693m – submission date:
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Unit 7 – Marketing Essentials Mark Spagnol
Contents
LO1: Provide an overview of the Marketing Management process and the relationship between
Marketing and other Functional units within an organization..................................................................2
P1: Outline the key roles and responsibilities of the Marketing function................................................2
M1: Analyze the 4Cs in Marketing and explain how each of these impacts the Marketing management
process adopted by an organization........................................................................................................3
LO2 Understand market opportunities and consumer buying behavior...................................................4
P2: Explain what market segmentation is and how organizations use it for targeting and positioning
decisions..................................................................................................................................................4
P3: Examine how organizations analyze consumer buying behavior, and the impact of such buying
behavior on the Marketing strategy........................................................................................................5
M2: Explore the key challenges faced by organisations when marketing their products and services
and the importance of sales forecasting.................................................................................................6
D1: Critically analyze and evaluate the key elements of the Marketing function and how these
interrelate with other functional units within an organization................................................................7
LO3 Develop a Marketing Plan/ Program: Product, Pricing and Distribution Decisions...........................8
P4: Examine the different product related decisions which need to be considered by organizations.....8
P5: Analyze the process adopted by organizations to determine the appropriate price level of their
products/ services...................................................................................................................................9
M3: Analyze the different tactics applied by organizations when promoting and distributing their
products/ services.................................................................................................................................10
LO4: Analyze the different Marketing Strategies for new market entries, growth markets, mature and
declining markets......................................................................................................................................11
P6: Examine the different Marketing strategies adopted by new Market entrants in comparison to
Market leaders......................................................................................................................................11
M4: Analyze, using examples, the different Marketing strategies adopted by organizations operating
in mature and declining Markets...........................................................................................................12
D2: Critically analyze how organizations apply the 7Ps (Marketing mix) to devise an effective
Marketing plan......................................................................................................................................13
Bibliography...............................................................................................................................................14
Page 1 of 25
Contents
LO1: Provide an overview of the Marketing Management process and the relationship between
Marketing and other Functional units within an organization..................................................................2
P1: Outline the key roles and responsibilities of the Marketing function................................................2
M1: Analyze the 4Cs in Marketing and explain how each of these impacts the Marketing management
process adopted by an organization........................................................................................................3
LO2 Understand market opportunities and consumer buying behavior...................................................4
P2: Explain what market segmentation is and how organizations use it for targeting and positioning
decisions..................................................................................................................................................4
P3: Examine how organizations analyze consumer buying behavior, and the impact of such buying
behavior on the Marketing strategy........................................................................................................5
M2: Explore the key challenges faced by organisations when marketing their products and services
and the importance of sales forecasting.................................................................................................6
D1: Critically analyze and evaluate the key elements of the Marketing function and how these
interrelate with other functional units within an organization................................................................7
LO3 Develop a Marketing Plan/ Program: Product, Pricing and Distribution Decisions...........................8
P4: Examine the different product related decisions which need to be considered by organizations.....8
P5: Analyze the process adopted by organizations to determine the appropriate price level of their
products/ services...................................................................................................................................9
M3: Analyze the different tactics applied by organizations when promoting and distributing their
products/ services.................................................................................................................................10
LO4: Analyze the different Marketing Strategies for new market entries, growth markets, mature and
declining markets......................................................................................................................................11
P6: Examine the different Marketing strategies adopted by new Market entrants in comparison to
Market leaders......................................................................................................................................11
M4: Analyze, using examples, the different Marketing strategies adopted by organizations operating
in mature and declining Markets...........................................................................................................12
D2: Critically analyze how organizations apply the 7Ps (Marketing mix) to devise an effective
Marketing plan......................................................................................................................................13
Bibliography...............................................................................................................................................14
Page 1 of 25
Unit 7 – Marketing Essentials Mark Spagnol
LO1: Provide an overview of the Marketing
Management process and the relationship between
Marketing and other Functional units within an
organization.
P1: Outline the key roles and responsibilities of the Marketing function.
Marketing plays a critical role in any organization as it is responsible for promoting the company’s
products or services to the target market, identifying, and creating growth opportunities and developing
and executing effective market strategies (Twin, 2023). Daley (2022) along with Twin explained the 4Ps
of Marketing which are Product, Place, Price, and Promotion and such are all possible to extensive
market research, excellent branding, creative product development, clear marketing communication,
superb after sales support and significant analytics.
The functionality of market research is to conduct research and understand different market needs,
preferences, and behavior of the target audience. Such information is important for development to
meet the needs of a market and give a valuable insight of other competitors (Busch, 2022). Voice Pick
(2020) agreed with all the above however they also stressed out that market research does not
guarantee success. Research would not be sufficient if a company isn’t branded well, and Jones (2023)
explained that branding brings consistency across the company, and as well it helps differentiate the
company from its competitors and building a strong customer and employee loyalty.
Products continuously improve through vigorous development, and as such, it is important to target the
right and correct audience (Penasack, 2023). Product development plays a key role within marketing to
ensure that products are defined for different audience and to ensure that products or services offered
are high in quality (Gillis, 2022). Philippe, et al., (2015) emphasized that communication is as important
as branding and development of a product. Communications should be consistent with the brand to
reach the target audience through communication means such as advertising, public relations, emails,
social media, or other means.
Sales support is also a key functional role within the marketing department, by providing the necessary
resources and materials to assist any sales time close any details. The resources mentioned are such as
product information, presentations which all make it easier to find and attract the target customer and
improving the overall sales performance by enhancing the customer relationships (Yunk, 2019). Analysis
of the effectiveness of the marketing campaigns are very important to keep improving and achieve and
exceed the KPIs (Freedman, 2023). The Indeed Editorial Team (2023) agreed with Freedman, and also
added that companies nowadays use different analysis methods such as the 5Cs, SWOT and Porter’s
analysis and emphasized that such methods are used in order to cater for different audiences and also
develop solutions to any challenges which may arise.
Marketing is a crucial within any organization as it involves the promotion, the identification of
opportunities and execution of strategies to enhance any organizations by researching the right
products or services, implement an excellent brand marketing strategy, communicate concisely and
effectively, and observe any possible flaws or improvements that can be done to achieve key
performance indicators by analyzing data.
Page 2 of 25
LO1: Provide an overview of the Marketing
Management process and the relationship between
Marketing and other Functional units within an
organization.
P1: Outline the key roles and responsibilities of the Marketing function.
Marketing plays a critical role in any organization as it is responsible for promoting the company’s
products or services to the target market, identifying, and creating growth opportunities and developing
and executing effective market strategies (Twin, 2023). Daley (2022) along with Twin explained the 4Ps
of Marketing which are Product, Place, Price, and Promotion and such are all possible to extensive
market research, excellent branding, creative product development, clear marketing communication,
superb after sales support and significant analytics.
The functionality of market research is to conduct research and understand different market needs,
preferences, and behavior of the target audience. Such information is important for development to
meet the needs of a market and give a valuable insight of other competitors (Busch, 2022). Voice Pick
(2020) agreed with all the above however they also stressed out that market research does not
guarantee success. Research would not be sufficient if a company isn’t branded well, and Jones (2023)
explained that branding brings consistency across the company, and as well it helps differentiate the
company from its competitors and building a strong customer and employee loyalty.
Products continuously improve through vigorous development, and as such, it is important to target the
right and correct audience (Penasack, 2023). Product development plays a key role within marketing to
ensure that products are defined for different audience and to ensure that products or services offered
are high in quality (Gillis, 2022). Philippe, et al., (2015) emphasized that communication is as important
as branding and development of a product. Communications should be consistent with the brand to
reach the target audience through communication means such as advertising, public relations, emails,
social media, or other means.
Sales support is also a key functional role within the marketing department, by providing the necessary
resources and materials to assist any sales time close any details. The resources mentioned are such as
product information, presentations which all make it easier to find and attract the target customer and
improving the overall sales performance by enhancing the customer relationships (Yunk, 2019). Analysis
of the effectiveness of the marketing campaigns are very important to keep improving and achieve and
exceed the KPIs (Freedman, 2023). The Indeed Editorial Team (2023) agreed with Freedman, and also
added that companies nowadays use different analysis methods such as the 5Cs, SWOT and Porter’s
analysis and emphasized that such methods are used in order to cater for different audiences and also
develop solutions to any challenges which may arise.
Marketing is a crucial within any organization as it involves the promotion, the identification of
opportunities and execution of strategies to enhance any organizations by researching the right
products or services, implement an excellent brand marketing strategy, communicate concisely and
effectively, and observe any possible flaws or improvements that can be done to achieve key
performance indicators by analyzing data.
Page 2 of 25
Unit 7 – Marketing Essentials Mark Spagnol
M1: Analyze the 4Cs in Marketing and explain how each of these
impacts the Marketing management process adopted by an
organization.
The 4Cs in Marketing is a Matrix that holds different criteria found beneficial to obtain trust and
credibility with the customers. The criteria are based on four assessments which are Change, Customer,
Competitor and Company, hence why 4Cs (Kotler, 2012). Online Manipal Editorial Team (2022) partially
agreed with however provided a different four assessments which are Customer, Cost, Convenience and
Communication. This matrix evolved from McCarthy’s 4Ps which the latter one focuses more on the
importance of consumer focus and convenience.
Customers are the most important aspect of the 4Cs as they are the consumers that buy or use the
product or service. Therefore, customer value is important, and this is done by extensive research,
customer profiling and seeking feedback (Birt, 2023). Sherman (2012) acknowledged and expanded his
research by stating that research in consumer needs is important to tailor products and services to the
customer’s needs. By conducting extensive research and meeting the customer needs, any organization
can easily build strong relationships, increase loyalty and satisfaction score, thus gaining a competitive
advantage.
The second C represents marketing communication, which is one of the keys in any marketing campaign.
The target audience needs to be correctly identified and the correct channel needs to be determined,
along with concise information. Neostrom (2018) mentioned that small organizations nowadays have a
better visibility because social media platforms such as Facebook and Instagram provide better
communication. Nikki (2023) agreed with Neostrom and added that marketing communications helps
keep a healthy relationship between the company and its end users. A company such as McDonalds uses
a mix of channels such as TV advertisements, Billboards, Digital and campaigns to launch new toys in the
Happy Meal boxes.
Bauer (2016) explained that cost is another critical key factor, which ultimately impacts the customer’s
decision to purchase a service or product. Pahwa (2022) elaborated that marketing needs to determine
the cost price that customers will pay, any additional costs of acquiring the product, such as the research
cost or delivery costs and opportunity cost which prevails to an advantage that a customer may have
ignored in order to purchase the product or service. Setting the incorrect costs and prices may result in
customers switching to other competitors, on the contrary, extreme low prices can negatively impact
profit margins.
In today’s fast-paced world, convenience is a must, and one of the 4Cs is convenience itself. Shep (n.d
cited Burgess, 2019) explained six principles in order to deliver an excellent customer service experience
that creates vicious loyalty. Cliquet & Baray (2020) explained the importance of convenience, where
studies show that convenience is as important as communication and promotions, as stores such as 7
Eleven and Home Depot provide more convience due to the number of stores allocated in the country.
On the other hand, organizations need to offer flexible payment methods and delivery options.
The 4Cs in Marketing is a matrix assessing Customer, Change, Competitor, and Company, or Customer,
Cost, Convenience, and Communication. Customer value is crucial, achieved via research and feedback.
Page 3 of 25
M1: Analyze the 4Cs in Marketing and explain how each of these
impacts the Marketing management process adopted by an
organization.
The 4Cs in Marketing is a Matrix that holds different criteria found beneficial to obtain trust and
credibility with the customers. The criteria are based on four assessments which are Change, Customer,
Competitor and Company, hence why 4Cs (Kotler, 2012). Online Manipal Editorial Team (2022) partially
agreed with however provided a different four assessments which are Customer, Cost, Convenience and
Communication. This matrix evolved from McCarthy’s 4Ps which the latter one focuses more on the
importance of consumer focus and convenience.
Customers are the most important aspect of the 4Cs as they are the consumers that buy or use the
product or service. Therefore, customer value is important, and this is done by extensive research,
customer profiling and seeking feedback (Birt, 2023). Sherman (2012) acknowledged and expanded his
research by stating that research in consumer needs is important to tailor products and services to the
customer’s needs. By conducting extensive research and meeting the customer needs, any organization
can easily build strong relationships, increase loyalty and satisfaction score, thus gaining a competitive
advantage.
The second C represents marketing communication, which is one of the keys in any marketing campaign.
The target audience needs to be correctly identified and the correct channel needs to be determined,
along with concise information. Neostrom (2018) mentioned that small organizations nowadays have a
better visibility because social media platforms such as Facebook and Instagram provide better
communication. Nikki (2023) agreed with Neostrom and added that marketing communications helps
keep a healthy relationship between the company and its end users. A company such as McDonalds uses
a mix of channels such as TV advertisements, Billboards, Digital and campaigns to launch new toys in the
Happy Meal boxes.
Bauer (2016) explained that cost is another critical key factor, which ultimately impacts the customer’s
decision to purchase a service or product. Pahwa (2022) elaborated that marketing needs to determine
the cost price that customers will pay, any additional costs of acquiring the product, such as the research
cost or delivery costs and opportunity cost which prevails to an advantage that a customer may have
ignored in order to purchase the product or service. Setting the incorrect costs and prices may result in
customers switching to other competitors, on the contrary, extreme low prices can negatively impact
profit margins.
In today’s fast-paced world, convenience is a must, and one of the 4Cs is convenience itself. Shep (n.d
cited Burgess, 2019) explained six principles in order to deliver an excellent customer service experience
that creates vicious loyalty. Cliquet & Baray (2020) explained the importance of convenience, where
studies show that convenience is as important as communication and promotions, as stores such as 7
Eleven and Home Depot provide more convience due to the number of stores allocated in the country.
On the other hand, organizations need to offer flexible payment methods and delivery options.
The 4Cs in Marketing is a matrix assessing Customer, Change, Competitor, and Company, or Customer,
Cost, Convenience, and Communication. Customer value is crucial, achieved via research and feedback.
Page 3 of 25
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Unit 7 – Marketing Essentials Mark Spagnol
Targeted marketing communication is key, cost is essential, and convenience is critical. Flexible payment
and delivery options enhance convenience for customers.
Page 4 of 25
Targeted marketing communication is key, cost is essential, and convenience is critical. Flexible payment
and delivery options enhance convenience for customers.
Page 4 of 25
Unit 7 – Marketing Essentials Mark Spagnol
LO2 Understand market opportunities and
consumer buying behavior.
P2: Explain what market segmentation is and how organizations use it
for targeting and positioning decisions.
Market segmentation is the process to segment large market groups into smaller ones, sharing similar
characteristics and needs. This is mostly used to tailor a product or service in a specific way that mostly
would attract a particular sector of the consumers. This is important to minimize risks by concluding
which products are most likely to attract consumers, thus the company would then be allowed to focus
its resources on products or services which are the most profitable (Tarver, 2023).
According to Lotame (2019), Tarver’s view was supported through a specific scenario where the
marketing team promotes a new dog food brand, and the target audience can be segmented based on
whether they own a dog. This would increase the overall effectiveness of a campaign by increasing the
chances of people engaging with the content, thus improving the return on investment. A company such
as McDonalds targets different consumers, such as children, learners, families, and businessman.
Companies mainly use four different types of market segmentations, which are Demographic,
Behavioral, Geographic, and Psychographic segmentations, and McDonalds use all the different types of
market segmentations (Anon., 2022).
Demographic segmentation uses factors like age, gender, income, and occupation. Behavioral
segmentation analyzes customer behavior such as usage rate and loyalty. Geographic segmentation
divides customers by geographic location. Psychographic segmentation categorizes customers based on
personality, values, attitudes, interests, and lifestyle (Survey Monkey, n.d.). A local telecommunications
company such as Melita uses different market segmentations, and it uses demographic segmentation to
sell a mobile product that is only available if consumers are under the age of 29 (Melita, n.d.). This
allows the company to increase its profits whilst lowering the sales churn. Tow (2023) exhibited another
great example of demographic segmentation with Lululemon. Lululemon sells athletic clothing to adult
men and women of all ages, however they also cater to girls between the ages of 6 and 15.
Nike is another company that very well makes use of all marketing segmentations factors, whereas it
targets athletes and fitness enthusiasts whilst targeting as well older generations by advertising
comfortable and supportive products (EdrawMind, 2022). Although proven to be successful, effective
market segmentation requires extensive analysis and research, and organizations must be able to gather
and analyze data on customers’ needs, preferences, and behavior.
Sales Manago (2021) highlighted the importance of segmentation as campaigns that are segmented and
targeted lead to a higher return of investment of 77%, compared to non-target campaigns which
generate 50% less clicks. Segmentation also plays a big role in understanding customer’s needs, as
statistics show that companies are 60% more likely to understand their consumers. By segmenting
consumers into smaller groups based on different factors, companies benefit from increased revenues
and an increased customer base.
Page 5 of 25
LO2 Understand market opportunities and
consumer buying behavior.
P2: Explain what market segmentation is and how organizations use it
for targeting and positioning decisions.
Market segmentation is the process to segment large market groups into smaller ones, sharing similar
characteristics and needs. This is mostly used to tailor a product or service in a specific way that mostly
would attract a particular sector of the consumers. This is important to minimize risks by concluding
which products are most likely to attract consumers, thus the company would then be allowed to focus
its resources on products or services which are the most profitable (Tarver, 2023).
According to Lotame (2019), Tarver’s view was supported through a specific scenario where the
marketing team promotes a new dog food brand, and the target audience can be segmented based on
whether they own a dog. This would increase the overall effectiveness of a campaign by increasing the
chances of people engaging with the content, thus improving the return on investment. A company such
as McDonalds targets different consumers, such as children, learners, families, and businessman.
Companies mainly use four different types of market segmentations, which are Demographic,
Behavioral, Geographic, and Psychographic segmentations, and McDonalds use all the different types of
market segmentations (Anon., 2022).
Demographic segmentation uses factors like age, gender, income, and occupation. Behavioral
segmentation analyzes customer behavior such as usage rate and loyalty. Geographic segmentation
divides customers by geographic location. Psychographic segmentation categorizes customers based on
personality, values, attitudes, interests, and lifestyle (Survey Monkey, n.d.). A local telecommunications
company such as Melita uses different market segmentations, and it uses demographic segmentation to
sell a mobile product that is only available if consumers are under the age of 29 (Melita, n.d.). This
allows the company to increase its profits whilst lowering the sales churn. Tow (2023) exhibited another
great example of demographic segmentation with Lululemon. Lululemon sells athletic clothing to adult
men and women of all ages, however they also cater to girls between the ages of 6 and 15.
Nike is another company that very well makes use of all marketing segmentations factors, whereas it
targets athletes and fitness enthusiasts whilst targeting as well older generations by advertising
comfortable and supportive products (EdrawMind, 2022). Although proven to be successful, effective
market segmentation requires extensive analysis and research, and organizations must be able to gather
and analyze data on customers’ needs, preferences, and behavior.
Sales Manago (2021) highlighted the importance of segmentation as campaigns that are segmented and
targeted lead to a higher return of investment of 77%, compared to non-target campaigns which
generate 50% less clicks. Segmentation also plays a big role in understanding customer’s needs, as
statistics show that companies are 60% more likely to understand their consumers. By segmenting
consumers into smaller groups based on different factors, companies benefit from increased revenues
and an increased customer base.
Page 5 of 25
Unit 7 – Marketing Essentials Mark Spagnol
P3: Examine how organizations analyze consumer buying behavior,
and the impact of such buying behavior on the Marketing strategy.
Companies conduct an analysis of consumer buying behavior to gain insights into customers' needs and
preferences, and to customize their marketing strategies accordingly. To achieve this, they often employ
market research techniques such as surveys, focus groups, and social media monitoring. The data
obtained from these methods is analyzed to detect patterns and design a more specific marketing
approach (Kotler, 2012). Nawal (2023) explained that nowadays, marketers all build marketing strategies
based on consumer behavior.
Organizations use different approaches to analyze buying behaviors, and one common method is
through market research. According to Ramesh Kumar (2009), Bajaj and Hero Honda were able to
dominate the motorcycle segment market from 2003-2005 by conducting research that revealed Indian
consumers prioritized mileage over price and looks when purchasing motorcycles. The collected data
showed that consumers from various occupations, such as students, executives, government officials,
and professionals, shared the same preference for mileage. Market research is so important that in
2012, companies based in the United States had spent more than $8 billing to research whether there is
a market for a new product or service idea, and although research is done, 80% of new products or
services usually do fail within the first years (Tracy, 2014).
Analysis of consumer buying behaviors is crucial, and modern-day software such as different customer
representative modules developed with in-built artificial intelligence to analyze marketing and create
campaigns through certain algorithms and communicate them effectively (Optimove, 2020). With the
help of Optimove, Melita is now focusing more on the exact customers’ needs by analyzing purchase
behaviors, and thus and monthly campaign messages were created and sent (Optimove, 2021). Chai,et
al., (2022) Agrees that a CRM is beneficial in order to analyze customer interaction and data, with CRM
systems such as Salesforce which builds an analysis on consumer behaviors through a logic calculated by
an AI.
Consumption of Internet Social Media application such as Facebook, Twitter, LinkedIn and others is on
the rise, and companies take advanced of social media in order to analyze consumer behaviors, wants,
needs and especially trends (Krasniak, et al., 2021). Hayes (2023) displayed a statistic whereas 80% of
consumers report that social media influences their decisions on products and different markets.
Behavior is analyzed by focusing on different engagements such as likes, comments, shares and clicks.
Research conducted by Sensis Social Media Report (2016 cited Day, 2016) has shown that social media
increases the likelihood of purchasing a product or service.
Analyzing consumer buying behavior is essential for companies to understand their customers' needs
and preferences and tailor their marketing strategies. Market research techniques such as surveys, focus
groups, and social media monitoring are commonly used for this purpose. Modern software tools with
artificial intelligence, like customer representative modules, help companies create effective marketing
campaigns. Social media platforms provide valuable insights into consumer behavior by tracking likes,
comments, shares, and clicks, and this data is increasingly used to analyze trends and consumer
Page 6 of 25
P3: Examine how organizations analyze consumer buying behavior,
and the impact of such buying behavior on the Marketing strategy.
Companies conduct an analysis of consumer buying behavior to gain insights into customers' needs and
preferences, and to customize their marketing strategies accordingly. To achieve this, they often employ
market research techniques such as surveys, focus groups, and social media monitoring. The data
obtained from these methods is analyzed to detect patterns and design a more specific marketing
approach (Kotler, 2012). Nawal (2023) explained that nowadays, marketers all build marketing strategies
based on consumer behavior.
Organizations use different approaches to analyze buying behaviors, and one common method is
through market research. According to Ramesh Kumar (2009), Bajaj and Hero Honda were able to
dominate the motorcycle segment market from 2003-2005 by conducting research that revealed Indian
consumers prioritized mileage over price and looks when purchasing motorcycles. The collected data
showed that consumers from various occupations, such as students, executives, government officials,
and professionals, shared the same preference for mileage. Market research is so important that in
2012, companies based in the United States had spent more than $8 billing to research whether there is
a market for a new product or service idea, and although research is done, 80% of new products or
services usually do fail within the first years (Tracy, 2014).
Analysis of consumer buying behaviors is crucial, and modern-day software such as different customer
representative modules developed with in-built artificial intelligence to analyze marketing and create
campaigns through certain algorithms and communicate them effectively (Optimove, 2020). With the
help of Optimove, Melita is now focusing more on the exact customers’ needs by analyzing purchase
behaviors, and thus and monthly campaign messages were created and sent (Optimove, 2021). Chai,et
al., (2022) Agrees that a CRM is beneficial in order to analyze customer interaction and data, with CRM
systems such as Salesforce which builds an analysis on consumer behaviors through a logic calculated by
an AI.
Consumption of Internet Social Media application such as Facebook, Twitter, LinkedIn and others is on
the rise, and companies take advanced of social media in order to analyze consumer behaviors, wants,
needs and especially trends (Krasniak, et al., 2021). Hayes (2023) displayed a statistic whereas 80% of
consumers report that social media influences their decisions on products and different markets.
Behavior is analyzed by focusing on different engagements such as likes, comments, shares and clicks.
Research conducted by Sensis Social Media Report (2016 cited Day, 2016) has shown that social media
increases the likelihood of purchasing a product or service.
Analyzing consumer buying behavior is essential for companies to understand their customers' needs
and preferences and tailor their marketing strategies. Market research techniques such as surveys, focus
groups, and social media monitoring are commonly used for this purpose. Modern software tools with
artificial intelligence, like customer representative modules, help companies create effective marketing
campaigns. Social media platforms provide valuable insights into consumer behavior by tracking likes,
comments, shares, and clicks, and this data is increasingly used to analyze trends and consumer
Page 6 of 25
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Unit 7 – Marketing Essentials Mark Spagnol
preferences. According to the Sensis Social Media Report, social media has a significant impact on
consumer purchasing decisions.
M2: Explore the key challenges faced by organisations when marketing
their products and services and the importance of sales forecasting.
Organizations may face various challenges when marketing their products or services, such as the
industry using the service, the target marketing and competition. Marketing consists of a range of
activities that all require careful research and planning before engaging in any advertising or
promotions. Milano (n.d.) believes that organizations must rely on a four-point guideline to emphasize
the product, price, place of sale and promotion. It is believed that organizations are in a better position
to achieve success.
One challenge in marketing is accurately measuring the return of investment over a product or service,
as it is difficult for organizations to determine how effective their marketing campaigns are and the
impact such campaigns have on the business (Phillips, et al., 2020). Another crucial challenge for
organizations is to target the right audience for their product or service, especially in today’s world
where customers are less loyal to specific branding or merchandise, therefor distinctive research needs
to be conducted (Friedmann, 2009). Resource limitation is a widespread of different elements that are
challenging to any organization, especially when budget is limited, or time is constraint. A clear example
of how an organization can lead to failure when resources are limited are two companies owned by Elon
Musk, Tesla and SpaceX, which were on the brink of bankruptcy in 2009, and such products or services
by companies were a challenge for the marketers within the team (Desjardins, 2017).
According to Smith (2016) , in many companies marketing is often brought in late, especially when it
comes to products. By the time marketers get involved, the product is already being sold without their
input. This creates challenges because marketers must catch up and meet the immediate sales needs.
Waiting to invest in marketing can limit the company's ability to grow sales. Dandelion (2022) agreed
and emphasized that organizations lack consistent marketing staff and materials, therefor, without a
proper marketing team within an organization, companies have a less chance of succeeding.
Organizations face competition in their respective niches. Not only do they compete with already
established markets, but they also encounter emerging markets. To do so, Cowart (2022) believes that
organizations need to focus on building a reputable brand to compete with different competitors.
Debasree (2022) also mentioned that apart from building the right brand, one of the main challenges is
to build trust with the audience and as well measure the performance of their content by empowering
markets with monitoring tools to understand the impact on audience and the prospect of new
customers.
Sales forecasting is an important tool for businesses to plan and make informed decisions. It involves
estimating future sales and revenue based on past data and market trends. This helps with strategic
planning, resource allocation, and overall business growth. Sales forecasting offers several advantages,
including helping set realistic goals, allocate resources efficiently, manage finances effectively, evaluate
marketing strategies, and measure performance (Chase Jr, 2013). Agreed with Chase Jr and added that
organizations should invest in a CRM system such as Salesforce, Freshsales or Hubspot to track
opportunities and identify top lead sources (Mahalingam, n.d.).
Addressing such challenges requires extensive market research, involvement of marketing professionals,
allocation of the right resources in a consistent manner and adaptation to modern-day technologies. By
Page 7 of 25
preferences. According to the Sensis Social Media Report, social media has a significant impact on
consumer purchasing decisions.
M2: Explore the key challenges faced by organisations when marketing
their products and services and the importance of sales forecasting.
Organizations may face various challenges when marketing their products or services, such as the
industry using the service, the target marketing and competition. Marketing consists of a range of
activities that all require careful research and planning before engaging in any advertising or
promotions. Milano (n.d.) believes that organizations must rely on a four-point guideline to emphasize
the product, price, place of sale and promotion. It is believed that organizations are in a better position
to achieve success.
One challenge in marketing is accurately measuring the return of investment over a product or service,
as it is difficult for organizations to determine how effective their marketing campaigns are and the
impact such campaigns have on the business (Phillips, et al., 2020). Another crucial challenge for
organizations is to target the right audience for their product or service, especially in today’s world
where customers are less loyal to specific branding or merchandise, therefor distinctive research needs
to be conducted (Friedmann, 2009). Resource limitation is a widespread of different elements that are
challenging to any organization, especially when budget is limited, or time is constraint. A clear example
of how an organization can lead to failure when resources are limited are two companies owned by Elon
Musk, Tesla and SpaceX, which were on the brink of bankruptcy in 2009, and such products or services
by companies were a challenge for the marketers within the team (Desjardins, 2017).
According to Smith (2016) , in many companies marketing is often brought in late, especially when it
comes to products. By the time marketers get involved, the product is already being sold without their
input. This creates challenges because marketers must catch up and meet the immediate sales needs.
Waiting to invest in marketing can limit the company's ability to grow sales. Dandelion (2022) agreed
and emphasized that organizations lack consistent marketing staff and materials, therefor, without a
proper marketing team within an organization, companies have a less chance of succeeding.
Organizations face competition in their respective niches. Not only do they compete with already
established markets, but they also encounter emerging markets. To do so, Cowart (2022) believes that
organizations need to focus on building a reputable brand to compete with different competitors.
Debasree (2022) also mentioned that apart from building the right brand, one of the main challenges is
to build trust with the audience and as well measure the performance of their content by empowering
markets with monitoring tools to understand the impact on audience and the prospect of new
customers.
Sales forecasting is an important tool for businesses to plan and make informed decisions. It involves
estimating future sales and revenue based on past data and market trends. This helps with strategic
planning, resource allocation, and overall business growth. Sales forecasting offers several advantages,
including helping set realistic goals, allocate resources efficiently, manage finances effectively, evaluate
marketing strategies, and measure performance (Chase Jr, 2013). Agreed with Chase Jr and added that
organizations should invest in a CRM system such as Salesforce, Freshsales or Hubspot to track
opportunities and identify top lead sources (Mahalingam, n.d.).
Addressing such challenges requires extensive market research, involvement of marketing professionals,
allocation of the right resources in a consistent manner and adaptation to modern-day technologies. By
Page 7 of 25
Unit 7 – Marketing Essentials Mark Spagnol
understanding and addressing such challenges, organizations can enhance their marketing efforts,
improve engagement, and achieve long-term success in marketplace.
Page 8 of 25
understanding and addressing such challenges, organizations can enhance their marketing efforts,
improve engagement, and achieve long-term success in marketplace.
Page 8 of 25
Unit 7 – Marketing Essentials Mark Spagnol
D1: Critically analyze and evaluate the key elements of the Marketing
function and how these interrelate with other functional units within an
organization.
Marketing includes a range of activities aimed at creating, communicating, delivering, and exchanging
valuable products or services with others. The primary function of marketing within a business is to
provide value to customers by identifying, keep up customer satisfaction and retain customers (Indeed
Editorial Team, 2023).
One of the key elements of the marketing function is market research. Research is important as it can
easily provide insights on customer preferences, market trends and competitors. Bajpai (2015)
emphasized how marketing aids research and development teams in addressing specific problems that
may arise and as well focus on unique product features by understanding customer needs. Through
collaboration between marketing and research and development, a company such as Procter & Gamble
was able to design the Swiffer cleaning system, which was designed to overcome any gaps found in
traditional mops and brooms (Vogel, et al., 2005).
Devices such as iPhones and iPads are highly successful as well because of extensive research and
development. Such a brand focusses on a user-friendly interface, whilst also focusing on a certain sleek
design that attracts niche consumers such as designers and marketers themselves (Hughes, 2010).
Strategy is as important as research and development, as through strategies, organizations focus on
setting different goals, determining target markets and develop different plans to reach and engage
customers. Reaching such goals requires aligning with other departments (Didner, 2014). For example,
Marketing within the company at Melita are always aligned with Front Liners such as the Contact Centre
and Retail points to push sales as much as possible, and as well in line with Finance to determine
whether the product or service sold makes sense in terms of budgeting.
Kotler, et al., (2006) believe that most marketers are out of touch with departments such as sales
however, such departments are nowadays starting to get more along because of disciplined
communication. Gradually, marketers need sales departments, as marketers generate leads and create
brand awareness, whilst the sales converts those leads into customers. Garrett & Wilson (2005)
conducted research on IBM and examined that the Sales team within such an organization had worked
closely with the marketing team to understand insights and target the right audience, which led to
business growth.
In the modern-day era, collaboration with IT and digital teams is also required by marketers to have a
leverage over the market, especially to ensure enhancement in data analytic collection, data security
and privacy. AnchovyINC, an outsourced marketing team collaborated with McDonalds Malta for a case
study. By collaborating, McDonalds were able to understand trends and observe changes in consumer
behavior, monitor different social media platforms and advertisements and as well implemented new
strategies (Anchovy, 2022). Kemp (2017) has also explained how major organizations managed to grow
furthermore by using tailor-made CRMs, even including unusual organizations such as Formula 1 teams.
Marketing involves different important parts that work together with other parts of a company. These
parts include market research, planning marketing strategies, developing products, communication,
using technology, and collaborating with other teams. When these parts work well together, a company
can provide value to customers and achieve its goals.
Page 9 of 25
D1: Critically analyze and evaluate the key elements of the Marketing
function and how these interrelate with other functional units within an
organization.
Marketing includes a range of activities aimed at creating, communicating, delivering, and exchanging
valuable products or services with others. The primary function of marketing within a business is to
provide value to customers by identifying, keep up customer satisfaction and retain customers (Indeed
Editorial Team, 2023).
One of the key elements of the marketing function is market research. Research is important as it can
easily provide insights on customer preferences, market trends and competitors. Bajpai (2015)
emphasized how marketing aids research and development teams in addressing specific problems that
may arise and as well focus on unique product features by understanding customer needs. Through
collaboration between marketing and research and development, a company such as Procter & Gamble
was able to design the Swiffer cleaning system, which was designed to overcome any gaps found in
traditional mops and brooms (Vogel, et al., 2005).
Devices such as iPhones and iPads are highly successful as well because of extensive research and
development. Such a brand focusses on a user-friendly interface, whilst also focusing on a certain sleek
design that attracts niche consumers such as designers and marketers themselves (Hughes, 2010).
Strategy is as important as research and development, as through strategies, organizations focus on
setting different goals, determining target markets and develop different plans to reach and engage
customers. Reaching such goals requires aligning with other departments (Didner, 2014). For example,
Marketing within the company at Melita are always aligned with Front Liners such as the Contact Centre
and Retail points to push sales as much as possible, and as well in line with Finance to determine
whether the product or service sold makes sense in terms of budgeting.
Kotler, et al., (2006) believe that most marketers are out of touch with departments such as sales
however, such departments are nowadays starting to get more along because of disciplined
communication. Gradually, marketers need sales departments, as marketers generate leads and create
brand awareness, whilst the sales converts those leads into customers. Garrett & Wilson (2005)
conducted research on IBM and examined that the Sales team within such an organization had worked
closely with the marketing team to understand insights and target the right audience, which led to
business growth.
In the modern-day era, collaboration with IT and digital teams is also required by marketers to have a
leverage over the market, especially to ensure enhancement in data analytic collection, data security
and privacy. AnchovyINC, an outsourced marketing team collaborated with McDonalds Malta for a case
study. By collaborating, McDonalds were able to understand trends and observe changes in consumer
behavior, monitor different social media platforms and advertisements and as well implemented new
strategies (Anchovy, 2022). Kemp (2017) has also explained how major organizations managed to grow
furthermore by using tailor-made CRMs, even including unusual organizations such as Formula 1 teams.
Marketing involves different important parts that work together with other parts of a company. These
parts include market research, planning marketing strategies, developing products, communication,
using technology, and collaborating with other teams. When these parts work well together, a company
can provide value to customers and achieve its goals.
Page 9 of 25
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Unit 7 – Marketing Essentials Mark Spagnol
LO3 Develop a Marketing Plan/ Program: Product,
Pricing and Distribution Decisions.
P4: Examine the different product related decisions which need to be
considered by organizations.
The definition of a product is something that is created to be sold, whether it is tangible or intangible. In
marketing, the definition of a product is anything that can be presented to a market which withdraws
attention or delivers to a possible acquisition or consumption (Max, 2021). Hauptly (2007) agreed and
explained the definition better, whether a product is something tangible or intangible that is either
bought because it is useful, or aesthetic and emphasized that there isn’t any other category why
consumers would buy a product.
Organizations make various decisions when introducing a new product, considering factors such as its
intended use for residential or industrial purposes, its design, features, quality, branding, positioning,
pricing, and distribution (StudySmarter, 2020). Lately, more focus and brainstorming is put into product
design and features, such as the Z.Island kitchen designed by Zaha Hadid Architects in 2006, involving
features that would allow its consumers to browse the internet, watch television or listen to music
whilst cooking, or even the folding plug designed by Min-Kyu Choi in 2009, designed in order to save
space and fit in tight places (Milton & Rodgers, 2011). Tesla is another great example of an organization
focusing on the features, as Tesla have unique features such as autopilot, which attracts certain
consumers (Maurya, 2022).
According to, branding is one of the key factors that leads to decision taking related to products, and it
involves both the visual and symbolic element of a product. Branding helps marketers to monitor the
brand image, loyalty, and acceptance of a product (Anjali, 2021). Apple focuses on branding, and it’s
known for sleek and innovative designs, and minimalist branding, which has helped the company build a
very strong base (Simplified, 2022). Nike is another company that focuses on branding, by creating a
unique identity, including logos and slogans such as “Just Do It” and the “swoosh” logo, which are
synonymous (Neumeier, 2005).
Product positioning is important, and an organization such as Volvo targeted their new V70 model to
mothers who didn’t want to drive a minivan, however, emphasized on safety (Fox, 2010). On the other
hand, marketers within the Toyota organization focus mostly on product quality to maintain customer
satisfaction and net promote score, by focusing on producing high-quality cars which are reliable,
durable whilst having an excellent performance (Liker, 2020). Product pricing is another factor that
marketers investigate when taking decisions, a Company such as Walmart emphasized on branding and
pricing, with their slogan stating “Everyday Low Prices” (Kotler & Kotler, 2012).
In conclusion, a product can be presented to a market for attention, acquisition, or consumption, and
organizations must make decisions when introducing a new product. These include the intended use,
design, features, quality, branding, positioning, pricing, and distribution. Companies like Apple, Nike, and
Toyota excel in various aspects of product-related decisions. Organizations must consider these factors
carefully to ensure product success in the market.
Page 10 of 25
LO3 Develop a Marketing Plan/ Program: Product,
Pricing and Distribution Decisions.
P4: Examine the different product related decisions which need to be
considered by organizations.
The definition of a product is something that is created to be sold, whether it is tangible or intangible. In
marketing, the definition of a product is anything that can be presented to a market which withdraws
attention or delivers to a possible acquisition or consumption (Max, 2021). Hauptly (2007) agreed and
explained the definition better, whether a product is something tangible or intangible that is either
bought because it is useful, or aesthetic and emphasized that there isn’t any other category why
consumers would buy a product.
Organizations make various decisions when introducing a new product, considering factors such as its
intended use for residential or industrial purposes, its design, features, quality, branding, positioning,
pricing, and distribution (StudySmarter, 2020). Lately, more focus and brainstorming is put into product
design and features, such as the Z.Island kitchen designed by Zaha Hadid Architects in 2006, involving
features that would allow its consumers to browse the internet, watch television or listen to music
whilst cooking, or even the folding plug designed by Min-Kyu Choi in 2009, designed in order to save
space and fit in tight places (Milton & Rodgers, 2011). Tesla is another great example of an organization
focusing on the features, as Tesla have unique features such as autopilot, which attracts certain
consumers (Maurya, 2022).
According to, branding is one of the key factors that leads to decision taking related to products, and it
involves both the visual and symbolic element of a product. Branding helps marketers to monitor the
brand image, loyalty, and acceptance of a product (Anjali, 2021). Apple focuses on branding, and it’s
known for sleek and innovative designs, and minimalist branding, which has helped the company build a
very strong base (Simplified, 2022). Nike is another company that focuses on branding, by creating a
unique identity, including logos and slogans such as “Just Do It” and the “swoosh” logo, which are
synonymous (Neumeier, 2005).
Product positioning is important, and an organization such as Volvo targeted their new V70 model to
mothers who didn’t want to drive a minivan, however, emphasized on safety (Fox, 2010). On the other
hand, marketers within the Toyota organization focus mostly on product quality to maintain customer
satisfaction and net promote score, by focusing on producing high-quality cars which are reliable,
durable whilst having an excellent performance (Liker, 2020). Product pricing is another factor that
marketers investigate when taking decisions, a Company such as Walmart emphasized on branding and
pricing, with their slogan stating “Everyday Low Prices” (Kotler & Kotler, 2012).
In conclusion, a product can be presented to a market for attention, acquisition, or consumption, and
organizations must make decisions when introducing a new product. These include the intended use,
design, features, quality, branding, positioning, pricing, and distribution. Companies like Apple, Nike, and
Toyota excel in various aspects of product-related decisions. Organizations must consider these factors
carefully to ensure product success in the market.
Page 10 of 25
Unit 7 – Marketing Essentials Mark Spagnol
P5: Analyze the process adopted by organizations to determine the
appropriate price level of their products/ services.
Pricing is critical for an organization, therefore, setting the appropriate price level for a product or
service impacts profits and competition in the market. Costs of design and products must be covered for
an organization to make a profit margin. Organizations use different methods to set prices for their
products or services, including cost-based pricing, value-based pricing, competition-based pricing, and
dynamic pricing. The chosen method should align with the organization's strategy and objectives and
consider factors such as production costs, customer value, competitors' prices, and market demand. The
price should be competitive enough to attract customers and maintain market share. (Farris, et al.,
2010)
Callaghan (2020) explained that major companies base their pricing in three different categories: cost-
based, competition and value based. This is the approach that marketers take into consideration, which
then further elaborates into a model to determine the scope, base, influence, formal and rights of the
product or service being sold. Smith (2016) agreed that organizations do base their pricing on these 3
categories, however, the author also voiced that organizations use four pricing strategies which are:
price positioning, price segmentation, competitive price reaction strategy and pricing capability.
The cost-based method calculates production costs and adds a profit markup that varies on the industry,
competition, and target market. Although this method is commonly used by organizations, Nagle, et al.,
(2016) argued that value-based is now more popular. This shift has led to pricing decisions being made
by sales, marketing, and product managers rather than financial managers. Value-based pricing is a
pricing method that reviews the value that a product or service provides to customers when setting its
price. This value is determined by the benefits, features, and unique selling points of the product.
Typically, value-based pricing is used for luxury goods or services, where the perceived value is high
(Baker, 2010).
Competition-based pricing is a pricing method that involves setting the price of a product or service
based on the prices of similar products or services in the market. An organization may choose to set the
price at a level that is either lower or higher than the competition, depending on its overall strategy (The
Investopedia Team, 2020). Companies such as McDonalds and Burger King constantly compete in terms
of pricing, even companies such as Coca-Cola and PepsiCo.
Different pricing categories have pros and cons. Cost-based is simple and predictable but lacks
competitiveness (Wizard of Sales, 2022). Value-based provides insights into customer willingness-to-pay
and helps improve products, but it can be challenging for commodities and requires research (Ferguson,
2020). Competition-based pricing is easy and low-risk, but it overlooks market factors and customer
reactions. Organizations should consider these factors when choosing a pricing strategy (Indeed Editorial
Team, 2022).
Organizations face the crucial task of determining the right price for their products or services. This
decision greatly impacts profits and competition. Different pricing methods, such as cost, value, and
competition pricing, are employed to set prices. Each approach has its pros and cons. Cost-based pricing
is simple but lacks competitiveness. Value-based pricing considers customer willingness-to-pay and
product improvement but may not work well for commodities. Competition-based pricing is easy and
Page 11 of 25
P5: Analyze the process adopted by organizations to determine the
appropriate price level of their products/ services.
Pricing is critical for an organization, therefore, setting the appropriate price level for a product or
service impacts profits and competition in the market. Costs of design and products must be covered for
an organization to make a profit margin. Organizations use different methods to set prices for their
products or services, including cost-based pricing, value-based pricing, competition-based pricing, and
dynamic pricing. The chosen method should align with the organization's strategy and objectives and
consider factors such as production costs, customer value, competitors' prices, and market demand. The
price should be competitive enough to attract customers and maintain market share. (Farris, et al.,
2010)
Callaghan (2020) explained that major companies base their pricing in three different categories: cost-
based, competition and value based. This is the approach that marketers take into consideration, which
then further elaborates into a model to determine the scope, base, influence, formal and rights of the
product or service being sold. Smith (2016) agreed that organizations do base their pricing on these 3
categories, however, the author also voiced that organizations use four pricing strategies which are:
price positioning, price segmentation, competitive price reaction strategy and pricing capability.
The cost-based method calculates production costs and adds a profit markup that varies on the industry,
competition, and target market. Although this method is commonly used by organizations, Nagle, et al.,
(2016) argued that value-based is now more popular. This shift has led to pricing decisions being made
by sales, marketing, and product managers rather than financial managers. Value-based pricing is a
pricing method that reviews the value that a product or service provides to customers when setting its
price. This value is determined by the benefits, features, and unique selling points of the product.
Typically, value-based pricing is used for luxury goods or services, where the perceived value is high
(Baker, 2010).
Competition-based pricing is a pricing method that involves setting the price of a product or service
based on the prices of similar products or services in the market. An organization may choose to set the
price at a level that is either lower or higher than the competition, depending on its overall strategy (The
Investopedia Team, 2020). Companies such as McDonalds and Burger King constantly compete in terms
of pricing, even companies such as Coca-Cola and PepsiCo.
Different pricing categories have pros and cons. Cost-based is simple and predictable but lacks
competitiveness (Wizard of Sales, 2022). Value-based provides insights into customer willingness-to-pay
and helps improve products, but it can be challenging for commodities and requires research (Ferguson,
2020). Competition-based pricing is easy and low-risk, but it overlooks market factors and customer
reactions. Organizations should consider these factors when choosing a pricing strategy (Indeed Editorial
Team, 2022).
Organizations face the crucial task of determining the right price for their products or services. This
decision greatly impacts profits and competition. Different pricing methods, such as cost, value, and
competition pricing, are employed to set prices. Each approach has its pros and cons. Cost-based pricing
is simple but lacks competitiveness. Value-based pricing considers customer willingness-to-pay and
product improvement but may not work well for commodities. Competition-based pricing is easy and
Page 11 of 25
Unit 7 – Marketing Essentials Mark Spagnol
low-risk but overlooks market factors and customer reactions. Organizations must carefully consider
their strategy, production costs, customer value, competitors' prices, and market demand when
choosing a pricing method to achieve their objectives.
M3: Analyze the different tactics applied by organizations when
promoting and distributing their products/ services.
Organizations employ various methods and channels to advertise and distribute their products and
services. Advertising takes place across multiple platforms, including digital and traditional media, while
direct and digital marketing tactics are used to reach target audiences directly. Public relations efforts
are also utilized to enhance the organization's image and generate positive publicity. Simultaneously,
distribution plays a crucial role in ensuring that products and services are efficiently delivered to
customers within the desired timeframe.
Advertising is a vital strategy employed by organizations worldwide. Search engine marketers utilize
various approaches, including paid search ads, contextually targeted search ads, and paid inclusion ads.
Paid search ads are displayed on search engine results pages based on specific keywords. Contextually
targeted search ads are tailored to the subject of web page content. Paid inclusion ads, on the other
hand, involve payment for listing on search engines without a specific order. These tactics help
organizations reach their target audience effectively (Plummer, et al., 2007). Mackeviciute (2023)
forecasted the high increase in expenditure in digital advertising worldwide from 2021 to 2026, with
numbers significantly increasing.
Promotional campaigns serve as effective means to promote products across various channels, including
radio and online platforms. These campaigns often incorporate limited time offers and discounts to
instill a sense of urgency and value among customers (Tarver, 2020). (CoSchedule, 2023) elucidated how
GoPro utilizes online campaigns to foster a sense of community between followers and users by
encouraging customers to share adventures captured on a GoPro Camera, which ultimately attracts
potential new customers and increases loyalty.
Organizations employ various strategies to distribute their products or services, and a local company like
Melita LTD utilizes a combination of direct sales channels to reach its customers. These channels include
official retail outlets, authorized resellers, as well as digital and voice contacts. By utilizing these
distribution channels, Melita LTD ensures that its products and services are readily available and
accessible to its target customers. Thomas (2022) explained that there are 4 core profiles in distribution,
which are: distributors, wholesalers, retailers, and agents.
Coca-Cola in Japan utilizes efficient distribution methods to reach a diverse range of outlets such as gas
stations, convenience stores, supermarkets, and restaurants. By selling their products to canning and
bottling companies, distributors, wholesalers, and retailers, Coca-Cola ensures widespread availability
and contributes to its success in the dynamic and innovative Japanese market (Buehler, 2021). Amazon,
renowned for its expansive online distribution network, employs a combination of in-house logistics,
including its own fleets and cargo planes, along with collaborations with shipping carriers to guarantee
swift and effective product deliveries (Hayes, 2021).
Organizations use diverse methods, such as advertising, digital marketing, public relations, and
distribution strategies, to promote and distribute their products. They employ both traditional and
Page 12 of 25
low-risk but overlooks market factors and customer reactions. Organizations must carefully consider
their strategy, production costs, customer value, competitors' prices, and market demand when
choosing a pricing method to achieve their objectives.
M3: Analyze the different tactics applied by organizations when
promoting and distributing their products/ services.
Organizations employ various methods and channels to advertise and distribute their products and
services. Advertising takes place across multiple platforms, including digital and traditional media, while
direct and digital marketing tactics are used to reach target audiences directly. Public relations efforts
are also utilized to enhance the organization's image and generate positive publicity. Simultaneously,
distribution plays a crucial role in ensuring that products and services are efficiently delivered to
customers within the desired timeframe.
Advertising is a vital strategy employed by organizations worldwide. Search engine marketers utilize
various approaches, including paid search ads, contextually targeted search ads, and paid inclusion ads.
Paid search ads are displayed on search engine results pages based on specific keywords. Contextually
targeted search ads are tailored to the subject of web page content. Paid inclusion ads, on the other
hand, involve payment for listing on search engines without a specific order. These tactics help
organizations reach their target audience effectively (Plummer, et al., 2007). Mackeviciute (2023)
forecasted the high increase in expenditure in digital advertising worldwide from 2021 to 2026, with
numbers significantly increasing.
Promotional campaigns serve as effective means to promote products across various channels, including
radio and online platforms. These campaigns often incorporate limited time offers and discounts to
instill a sense of urgency and value among customers (Tarver, 2020). (CoSchedule, 2023) elucidated how
GoPro utilizes online campaigns to foster a sense of community between followers and users by
encouraging customers to share adventures captured on a GoPro Camera, which ultimately attracts
potential new customers and increases loyalty.
Organizations employ various strategies to distribute their products or services, and a local company like
Melita LTD utilizes a combination of direct sales channels to reach its customers. These channels include
official retail outlets, authorized resellers, as well as digital and voice contacts. By utilizing these
distribution channels, Melita LTD ensures that its products and services are readily available and
accessible to its target customers. Thomas (2022) explained that there are 4 core profiles in distribution,
which are: distributors, wholesalers, retailers, and agents.
Coca-Cola in Japan utilizes efficient distribution methods to reach a diverse range of outlets such as gas
stations, convenience stores, supermarkets, and restaurants. By selling their products to canning and
bottling companies, distributors, wholesalers, and retailers, Coca-Cola ensures widespread availability
and contributes to its success in the dynamic and innovative Japanese market (Buehler, 2021). Amazon,
renowned for its expansive online distribution network, employs a combination of in-house logistics,
including its own fleets and cargo planes, along with collaborations with shipping carriers to guarantee
swift and effective product deliveries (Hayes, 2021).
Organizations use diverse methods, such as advertising, digital marketing, public relations, and
distribution strategies, to promote and distribute their products. They employ both traditional and
Page 12 of 25
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Unit 7 – Marketing Essentials Mark Spagnol
digital advertising platforms to reach their target audience. Promotional campaigns with limited time
offers drive customer interest and loyalty. Distribution strategies differ, with some using direct sales
channels and others relying on efficient distribution networks to make products widely available.
LO4: Analyze the different Marketing Strategies for
new market entries, growth markets, mature and
declining markets.
P6: Examine the different Marketing strategies adopted by new Market
entrants in comparison to Market leaders.
New market entrants must adopt a competitive marketing strategy to challenge established
competitors. Innovation, value addition, differentiation, positioning, pricing, distribution, and creating
brand advocates are key aspects to consider. Successful examples include Reliance Jio's disruptive voice
calling technology, Renault Kiwi's distinct offering in the car segment, and Patanjali's focus on natural
products. It's crucial for new entrants to sustain their strategies and engage customers through effective
communication (Gopinath, 2017).
New Market entrants can adapt to the Blue Ocean Strategy framework, which encourages businesses to
participate in uncontested market space and make competition irrelevant. The idea behind such a
strategy is to shift the focus from competing with the existing market and shift towards a new market,
thus creating new demands. This would be all possible by identifying untargeted customer needs and
developing innovative products based on different business models from other competitors (Chan Kim &
Mauborgne, 2020). The Cirque du Soleil eliminated the traditional circus and focused on a new circus,
mainly focusing on artistic performances and storytelling (Will, 2022) (Ghazzawi, et al., 2014).
According to Moore (2014, cited in Blank, 2020), new entrants should focus their efforts on specific
niche markets to establish credibility and attract customers. It is important for these new entrants to
provide comprehensive elements such as support and training to deliver the full value of their product.
Targeting a beachhead market, which is a small market with unique characteristics, allows new entrants
to gain a foothold and build momentum. Customizing marketing messages to highlight the benefits and
address any concerns of mainstream customers is essential for success. Additionally, building a strong
customer base through positive customer references is crucial. Netflix started off as a small DVD-by-mail
rental service, and such an organization had successfully crossed the chasm by transitioning from a DVD
rental to an online subscription-based streaming platform (The Investopedia Team, 2022).
Olenski (2015) explained that when a brand enters a new market, it is important to focus and find a
balance between the costs and results to maximize the return on investment. Companies can implement
effective strategies to grow their businesses on a budget. Maintaining an updated blog and building a
mailing list help attract visitors and nurture leads. Online platforms like Yelp, TripAdvisor, and social
media aid in reaching new customers and increasing visibility. Including clear calls to action guides users
on engaging with the company. Sharing press releases informs industry professionals about company
updates. Offering discounts and coupons fosters customer loyalty, while incorporating videos visually
engages the audience and enhances brand visibility. Through experimentation, companies can
determine the most suitable strategies for their business and customer base.
Page 13 of 25
digital advertising platforms to reach their target audience. Promotional campaigns with limited time
offers drive customer interest and loyalty. Distribution strategies differ, with some using direct sales
channels and others relying on efficient distribution networks to make products widely available.
LO4: Analyze the different Marketing Strategies for
new market entries, growth markets, mature and
declining markets.
P6: Examine the different Marketing strategies adopted by new Market
entrants in comparison to Market leaders.
New market entrants must adopt a competitive marketing strategy to challenge established
competitors. Innovation, value addition, differentiation, positioning, pricing, distribution, and creating
brand advocates are key aspects to consider. Successful examples include Reliance Jio's disruptive voice
calling technology, Renault Kiwi's distinct offering in the car segment, and Patanjali's focus on natural
products. It's crucial for new entrants to sustain their strategies and engage customers through effective
communication (Gopinath, 2017).
New Market entrants can adapt to the Blue Ocean Strategy framework, which encourages businesses to
participate in uncontested market space and make competition irrelevant. The idea behind such a
strategy is to shift the focus from competing with the existing market and shift towards a new market,
thus creating new demands. This would be all possible by identifying untargeted customer needs and
developing innovative products based on different business models from other competitors (Chan Kim &
Mauborgne, 2020). The Cirque du Soleil eliminated the traditional circus and focused on a new circus,
mainly focusing on artistic performances and storytelling (Will, 2022) (Ghazzawi, et al., 2014).
According to Moore (2014, cited in Blank, 2020), new entrants should focus their efforts on specific
niche markets to establish credibility and attract customers. It is important for these new entrants to
provide comprehensive elements such as support and training to deliver the full value of their product.
Targeting a beachhead market, which is a small market with unique characteristics, allows new entrants
to gain a foothold and build momentum. Customizing marketing messages to highlight the benefits and
address any concerns of mainstream customers is essential for success. Additionally, building a strong
customer base through positive customer references is crucial. Netflix started off as a small DVD-by-mail
rental service, and such an organization had successfully crossed the chasm by transitioning from a DVD
rental to an online subscription-based streaming platform (The Investopedia Team, 2022).
Olenski (2015) explained that when a brand enters a new market, it is important to focus and find a
balance between the costs and results to maximize the return on investment. Companies can implement
effective strategies to grow their businesses on a budget. Maintaining an updated blog and building a
mailing list help attract visitors and nurture leads. Online platforms like Yelp, TripAdvisor, and social
media aid in reaching new customers and increasing visibility. Including clear calls to action guides users
on engaging with the company. Sharing press releases informs industry professionals about company
updates. Offering discounts and coupons fosters customer loyalty, while incorporating videos visually
engages the audience and enhances brand visibility. Through experimentation, companies can
determine the most suitable strategies for their business and customer base.
Page 13 of 25
Unit 7 – Marketing Essentials Mark Spagnol
New market entrants can achieve success by adopting effective marketing strategies. They should
concentrate on specific niche markets, offer comprehensive support, and target a small market
segment. Customizing marketing messages and building a robust customer base are crucial for their
growth. Implementing the Blue Ocean Strategy and incorporating tactics such as blogging, utilizing
online platforms, and providing discounts can help these businesses thrive while operating within
budget constraints.
M4: Analyze, using examples, the different Marketing strategies
adopted by organizations operating in mature and declining Markets.
In mature and declining markets, organizations need to deploy strategies to navigate through the
challenges and opportunities that may arise in the market. Hayes (2022) explained that a mature market
is one that has passed both through establishment and growth phases, and therefor, organizations must
stabilize in order maintain the market share. Declining markets experiences a drop in values, which is a
normal progression of life stages, until the use of the market is no longer functional (McMahon, 2023),
such as the traditional plug-into-the-wall telephone handsets, which is no longer in use by today
(Invstor, 2017).
Blockbuster and Netflix, two major organizations in a declining market, experienced contrasting
outcomes. Blockbuster failed to survive as the demand for DVD rentals diminished, while Netflix swiftly
adapted and innovated by transitioning from DVD rentals through mail to offering video-on-demand
streaming (Feld & Wise, 2017). Netflix had sought out the customers’ needs which were convenience
and efficiency, thus attracted and built a large customer base by shifting from a declining market to a
new market. Zaman (2021) mentioned that Netflix's valuation, which stood at a modest $50 million in
2000, soared to an impressive $203 billion by 2020. In contrast, Blockbuster's valuation plummeted from
$8.4 billion to a mere $24 million during the same period. Netflix promoted a product at the right
people, targeting the right people.
Kodak, a prominent player in the film photography market, encountered difficulties as the industry
declined with the rise of digital photography. Failing to adapt to this revolution, Kodak lost its position as
a market leader. In contrast, Fujifilm, a competitor in the same market, demonstrated agility by
acknowledging the shift to digital and expanding its business into thriving sectors such as medical
imaging. This strategic diversification allowed Fujifilm to minimize the impact of the declining film
market and sustain its relevance in the industry (Kmia, 2022).
Pepsico had operated in a well know mature market for over 50 years, however, it had started to
emerge, and changed its strategy towards healthier food, with the likes of many believing that this was a
downfall for the company. Contrary to what the majority believed, healthy foods made up 20% of the
revenue by the year 2014, therefore, Pepsico was shifting its markets towards new consumer needs and
trends. (Esvary, 2016). On the contrary, a company such as Harley Davidson kept producing the same
types of motorcycles in the same mature market, however, they continued growing by fostering a sense
of community and belonging (Map & Fire, 2022). Tybout & Calkins (2019) agreed and emphasized that
brands such as Harley-Davidson not only succeeded by offering superior products, however, by also
offering the opportunity to clarify and enhance the consumer’s sense of who they are.
In conclusion, organizations operating in mature and declining markets must adapt and innovate to stay
competitive. The examples of Netflix and Blockbuster, as well as Kodak and Fujifilm, highlight the
Page 14 of 25
New market entrants can achieve success by adopting effective marketing strategies. They should
concentrate on specific niche markets, offer comprehensive support, and target a small market
segment. Customizing marketing messages and building a robust customer base are crucial for their
growth. Implementing the Blue Ocean Strategy and incorporating tactics such as blogging, utilizing
online platforms, and providing discounts can help these businesses thrive while operating within
budget constraints.
M4: Analyze, using examples, the different Marketing strategies
adopted by organizations operating in mature and declining Markets.
In mature and declining markets, organizations need to deploy strategies to navigate through the
challenges and opportunities that may arise in the market. Hayes (2022) explained that a mature market
is one that has passed both through establishment and growth phases, and therefor, organizations must
stabilize in order maintain the market share. Declining markets experiences a drop in values, which is a
normal progression of life stages, until the use of the market is no longer functional (McMahon, 2023),
such as the traditional plug-into-the-wall telephone handsets, which is no longer in use by today
(Invstor, 2017).
Blockbuster and Netflix, two major organizations in a declining market, experienced contrasting
outcomes. Blockbuster failed to survive as the demand for DVD rentals diminished, while Netflix swiftly
adapted and innovated by transitioning from DVD rentals through mail to offering video-on-demand
streaming (Feld & Wise, 2017). Netflix had sought out the customers’ needs which were convenience
and efficiency, thus attracted and built a large customer base by shifting from a declining market to a
new market. Zaman (2021) mentioned that Netflix's valuation, which stood at a modest $50 million in
2000, soared to an impressive $203 billion by 2020. In contrast, Blockbuster's valuation plummeted from
$8.4 billion to a mere $24 million during the same period. Netflix promoted a product at the right
people, targeting the right people.
Kodak, a prominent player in the film photography market, encountered difficulties as the industry
declined with the rise of digital photography. Failing to adapt to this revolution, Kodak lost its position as
a market leader. In contrast, Fujifilm, a competitor in the same market, demonstrated agility by
acknowledging the shift to digital and expanding its business into thriving sectors such as medical
imaging. This strategic diversification allowed Fujifilm to minimize the impact of the declining film
market and sustain its relevance in the industry (Kmia, 2022).
Pepsico had operated in a well know mature market for over 50 years, however, it had started to
emerge, and changed its strategy towards healthier food, with the likes of many believing that this was a
downfall for the company. Contrary to what the majority believed, healthy foods made up 20% of the
revenue by the year 2014, therefore, Pepsico was shifting its markets towards new consumer needs and
trends. (Esvary, 2016). On the contrary, a company such as Harley Davidson kept producing the same
types of motorcycles in the same mature market, however, they continued growing by fostering a sense
of community and belonging (Map & Fire, 2022). Tybout & Calkins (2019) agreed and emphasized that
brands such as Harley-Davidson not only succeeded by offering superior products, however, by also
offering the opportunity to clarify and enhance the consumer’s sense of who they are.
In conclusion, organizations operating in mature and declining markets must adapt and innovate to stay
competitive. The examples of Netflix and Blockbuster, as well as Kodak and Fujifilm, highlight the
Page 14 of 25
Unit 7 – Marketing Essentials Mark Spagnol
importance of recognizing market shifts and meeting customer needs. Successful companies like Netflix
and Fujifilm adjusted their strategies and thrived, while others like Blockbuster and Kodak faltered due
to their inability to adapt. Pepsico and Harley-Davidson also showcased different approaches in mature
markets. Overall, staying agile, understanding market dynamics, and continuously adjusting marketing
strategies are essential for success in mature and declining markets.
D2: Critically analyze how organizations apply the 7Ps (Marketing mix)
to devise an effective Marketing plan.
The 7Ps model was created to help evaluate and re-evaluate business activities. This includes different
factors which are: Price, Place, Product, Promotion, Process, People and Physical evidence (Ennew &
Waite, 2013). McGruer (2020) also mentioned that the 7P model is at times extended to 8Ps, including
the productivity factor. The 7Ps of marketing are crucial for an effective marketing plan. They encompass
product characteristics, promotion methods, pricing, distribution, customer interactions, processes, and
tangible evidence. These elements play a vital role in successful marketing.
Hanlon (2023) and Signorelli (2018) brought forward a perfect example of an organization that applies
all the 7Ps of marketing. Hubspot offers an all-in-one toolset for SEO, blogging, social media, website,
email, and lead intelligence. Pricing is based on subscriptions tied to the number of contacts and users.
Access is online, with a network of partners and user groups. Promotion includes director engagements,
webinars, and SEO-optimized guides. They utilize PPC social media ads and maintain consistent
branding. Sales staff play a key role in conversion, and the company values online services and invests in
its people.
Toyota excels in product differentiation, offering exclusive, high-performance, and fuel-efficient cars
with customizable options. Their pricing strategy caters to a wide consumer base, and distribution is
efficient through dealerships. Promotional tactics include digital campaigns and personal selling.
Manufacturing efficiency and environmental friendliness are prioritized. Toyota values its empowered
workforce. The iconic logo serves as strong physical evidence of the brand's identity and technological
prowess. The 7Ps strategy simplifies marketing concepts for Toyota's success (Harry, 2019).
Apple Inc. applies the 7Ps in their marketing plan. The organization focuses on innovative, well-designed
products to meet customers’ needs, such as iPhones and MacBooks. The high-prices target higher-end
markets, whilst marketing channels such as TV advertisements or online campaigns create a very strong
brand image (Gallo, 2012). In 1983, the company had even advertised T-Shirts with the logo of Apple to
build a stronger brand image (Elliot, 2012). The company focuses on customer satisfaction and uphold
high-quality standards in the manufacturing process. The logo itself, packaging and store designs serve
as physical evidence of the organization’s exclusivity and quality (Anon., 2021).
Nike's marketing strategy focuses on creating innovative and high-quality athletic products. They
position themselves as a premium brand with higher prices and sell their products through various
channels. Nike invests heavily in marketing and promotion, values their employees, and collaborates
with athletes and influencers. They prioritize product development and sustainability in manufacturing,
and their iconic logo and packaging represent their strong brand identity. Studying how Nike applies the
7Ps provides useful insights for creating effective marketing strategies in other companies (Rozic, 2021).
Page 15 of 25
importance of recognizing market shifts and meeting customer needs. Successful companies like Netflix
and Fujifilm adjusted their strategies and thrived, while others like Blockbuster and Kodak faltered due
to their inability to adapt. Pepsico and Harley-Davidson also showcased different approaches in mature
markets. Overall, staying agile, understanding market dynamics, and continuously adjusting marketing
strategies are essential for success in mature and declining markets.
D2: Critically analyze how organizations apply the 7Ps (Marketing mix)
to devise an effective Marketing plan.
The 7Ps model was created to help evaluate and re-evaluate business activities. This includes different
factors which are: Price, Place, Product, Promotion, Process, People and Physical evidence (Ennew &
Waite, 2013). McGruer (2020) also mentioned that the 7P model is at times extended to 8Ps, including
the productivity factor. The 7Ps of marketing are crucial for an effective marketing plan. They encompass
product characteristics, promotion methods, pricing, distribution, customer interactions, processes, and
tangible evidence. These elements play a vital role in successful marketing.
Hanlon (2023) and Signorelli (2018) brought forward a perfect example of an organization that applies
all the 7Ps of marketing. Hubspot offers an all-in-one toolset for SEO, blogging, social media, website,
email, and lead intelligence. Pricing is based on subscriptions tied to the number of contacts and users.
Access is online, with a network of partners and user groups. Promotion includes director engagements,
webinars, and SEO-optimized guides. They utilize PPC social media ads and maintain consistent
branding. Sales staff play a key role in conversion, and the company values online services and invests in
its people.
Toyota excels in product differentiation, offering exclusive, high-performance, and fuel-efficient cars
with customizable options. Their pricing strategy caters to a wide consumer base, and distribution is
efficient through dealerships. Promotional tactics include digital campaigns and personal selling.
Manufacturing efficiency and environmental friendliness are prioritized. Toyota values its empowered
workforce. The iconic logo serves as strong physical evidence of the brand's identity and technological
prowess. The 7Ps strategy simplifies marketing concepts for Toyota's success (Harry, 2019).
Apple Inc. applies the 7Ps in their marketing plan. The organization focuses on innovative, well-designed
products to meet customers’ needs, such as iPhones and MacBooks. The high-prices target higher-end
markets, whilst marketing channels such as TV advertisements or online campaigns create a very strong
brand image (Gallo, 2012). In 1983, the company had even advertised T-Shirts with the logo of Apple to
build a stronger brand image (Elliot, 2012). The company focuses on customer satisfaction and uphold
high-quality standards in the manufacturing process. The logo itself, packaging and store designs serve
as physical evidence of the organization’s exclusivity and quality (Anon., 2021).
Nike's marketing strategy focuses on creating innovative and high-quality athletic products. They
position themselves as a premium brand with higher prices and sell their products through various
channels. Nike invests heavily in marketing and promotion, values their employees, and collaborates
with athletes and influencers. They prioritize product development and sustainability in manufacturing,
and their iconic logo and packaging represent their strong brand identity. Studying how Nike applies the
7Ps provides useful insights for creating effective marketing strategies in other companies (Rozic, 2021).
Page 15 of 25
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Unit 7 – Marketing Essentials Mark Spagnol
The 7Ps model is a helpful way to create effective marketing plans. It includes important things like
price, place, product, promotion, process, people, and physical evidence. These factors are key to
making a marketing strategy successful. We can learn from companies like Hubspot, Toyota, Apple Inc.,
and Nike, who use the 7Ps model well. By studying their approaches, we can get ideas for how to make
good marketing strategies in other companies. The 7Ps model is a useful tool that makes marketing
concepts easier to understand and helps companies reach their marketing goals.
Bibliography
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Available at: https://www.anchovyinc.com/work/mcdonalds-malta/
[Accessed 13 May 2023].
Anjali, J., 2021. Product Decision. [Online]
Available at: https://theinvestorsbook.com/product-decision.html
[Accessed 9 May 2023].
Anon., 2022. McDonald's Market Segmentation, Targeting, and Positioning. [Online]
Available at: https://www.edrawmind.com/article/mcdonalds-segmentation-targeting-and-
positioning.html#:~:text=Children%2C%20learners%2C%20families%2C%20and,Segmentation%20of
%20the%20Market.
[Accessed 8 May 2023].
Bajpai, N., 2015. Marketing Research. 1st ed. Delhi: Pearson Education India.
Baker, R. J., 2010. Implementing Value Pricing: A Radical Business Model for Professional Firms. 1st ed.
New Jersey: John Wiley & Sons.
Bauer, T. et al., 2016. Marketing Performance. 1st ed. s.l.:Wiley.
Birt, J., 2023. What Are the 4 C’s of Marketing? (Plus How to Use Them). [Online]
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Blank, S., 2020. The Four Steps to the Epiphany. 5th ed. New jersey: WIley.
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make-money.asp
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Burgess, C., 2019. How Can Marketers Create Stronger Customer Bonds? Focus on Convenience,
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[Accessed 18 April 2023].
Page 16 of 25
The 7Ps model is a helpful way to create effective marketing plans. It includes important things like
price, place, product, promotion, process, people, and physical evidence. These factors are key to
making a marketing strategy successful. We can learn from companies like Hubspot, Toyota, Apple Inc.,
and Nike, who use the 7Ps model well. By studying their approaches, we can get ideas for how to make
good marketing strategies in other companies. The 7Ps model is a useful tool that makes marketing
concepts easier to understand and helps companies reach their marketing goals.
Bibliography
Anchovy, 2022. McDonald’s Malta Case Study. [Online]
Available at: https://www.anchovyinc.com/work/mcdonalds-malta/
[Accessed 13 May 2023].
Anjali, J., 2021. Product Decision. [Online]
Available at: https://theinvestorsbook.com/product-decision.html
[Accessed 9 May 2023].
Anon., 2022. McDonald's Market Segmentation, Targeting, and Positioning. [Online]
Available at: https://www.edrawmind.com/article/mcdonalds-segmentation-targeting-and-
positioning.html#:~:text=Children%2C%20learners%2C%20families%2C%20and,Segmentation%20of
%20the%20Market.
[Accessed 8 May 2023].
Bajpai, N., 2015. Marketing Research. 1st ed. Delhi: Pearson Education India.
Baker, R. J., 2010. Implementing Value Pricing: A Radical Business Model for Professional Firms. 1st ed.
New Jersey: John Wiley & Sons.
Bauer, T. et al., 2016. Marketing Performance. 1st ed. s.l.:Wiley.
Birt, J., 2023. What Are the 4 C’s of Marketing? (Plus How to Use Them). [Online]
Available at: https://www.indeed.com/career-advice/career-development/4-cs-of-marketing
[Accessed 18 April 2023].
Blank, S., 2020. The Four Steps to the Epiphany. 5th ed. New jersey: WIley.
Buehler, N., 2021. How Coca-Cola Makes Money. [Online]
Available at: https://www.investopedia.com/articles/markets/112515/how-does-cocacola-actually-
make-money.asp
[Accessed 13 May 2023].
Burgess, C., 2019. How Can Marketers Create Stronger Customer Bonds? Focus on Convenience,
According to Shep Hyken. [Online]
Available at: https://www.toprankblog.com/2018/09/convenience-marketing-shep-hyken/
[Accessed 18 April 2023].
Page 16 of 25
Unit 7 – Marketing Essentials Mark Spagnol
Busch, D., 2022. The Importance of Market Research in Marketing. [Online]
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[Accessed 10 April 2023].
Callaghan, B., 2020. Pricing strategy: Understand the layers of pricing to achieve premiums and improve
profits. [Online]
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achieve-premiums-and-improve-profits-570d7048dd09
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Chai, W., Ehrens, T. & Kiwak, K., 2022. CRM (customer relationship management). [Online]
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relationship-management
[Accessed 9 May 2023].
Chan Kim, W. & Mauborgne, R., 2020. Blue Ocean Strategy. [Sound Recording].
Chase Jr, C. W., 2013. Demand-Driven Forecasting: A Structured Approach to Forecasting. 2nd ed. New
Jersey: Wiley.
Cliquet, G. & Baray, J., 2020. Location-Based Marketing. 1st ed. New Jersey: Wiley-ISTE.
CoSchedule, 2023. GoPro’s Marketing Strategy: Creating A New Height Of Success. [Online]
Available at: https://coschedule.com/marketing-strategy/marketing-strategy-examples/gopro-
marketing-strategy
[Accessed 13 May 2023].
Cowart, C., 2022. 12 Marketing Challenges and How To Overcome Them. [Online]
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marketing-video/
[Accessed 13 May 2023].
Day, K., 2016. Social Media and Consumer Behaviour. [Online]
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[Accessed 9 May 2023].
Debasree, 2022. Overcome the Challenges of B2B product marketing in 2022. [Online]
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Busch, D., 2022. The Importance of Market Research in Marketing. [Online]
Available at: https://darabusch.com/the-importance-of-market-research-in-marketing/
[Accessed 10 April 2023].
Callaghan, B., 2020. Pricing strategy: Understand the layers of pricing to achieve premiums and improve
profits. [Online]
Available at: https://medium.com/@bevcallaghan/pricing-strategy-understand-the-layers-of-pricing-to-
achieve-premiums-and-improve-profits-570d7048dd09
[Accessed 11 May 2023].
Chai, W., Ehrens, T. & Kiwak, K., 2022. CRM (customer relationship management). [Online]
Available at: https://www.techtarget.com/searchcustomerexperience/definition/CRM-customer-
relationship-management
[Accessed 9 May 2023].
Chan Kim, W. & Mauborgne, R., 2020. Blue Ocean Strategy. [Sound Recording].
Chase Jr, C. W., 2013. Demand-Driven Forecasting: A Structured Approach to Forecasting. 2nd ed. New
Jersey: Wiley.
Cliquet, G. & Baray, J., 2020. Location-Based Marketing. 1st ed. New Jersey: Wiley-ISTE.
CoSchedule, 2023. GoPro’s Marketing Strategy: Creating A New Height Of Success. [Online]
Available at: https://coschedule.com/marketing-strategy/marketing-strategy-examples/gopro-
marketing-strategy
[Accessed 13 May 2023].
Cowart, C., 2022. 12 Marketing Challenges and How To Overcome Them. [Online]
Available at: https://rockcontent.com/blog/marketing-challenges/
[Accessed 13 May 2013].
Daley, S., 2022. Marketing. [Online]
Available at: https://builtin.com/marketing
[Accessed 10 April 2023].
Dandelion, 2022. 6 Reasons Why Nonprofit Organizations Struggle with Marketing. [Online]
Available at: https://dandelionbranding.com/6-reasons-why-nonprofit-organizations-struggle-with-
marketing-video/
[Accessed 13 May 2023].
Day, K., 2016. Social Media and Consumer Behaviour. [Online]
Available at: https://www.linkedin.com/pulse/social-media-consumer-behaviour-keith-day
[Accessed 9 May 2023].
Debasree, 2022. Overcome the Challenges of B2B product marketing in 2022. [Online]
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[Accessed 13 May 2023].
Desjardins, J., 2017. A Timeline of Elon Musk’s Long List of Failures. [Online]
Available at: https://www.visualcapitalist.com/elon-musk-long-list-failures/
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Unit 7 – Marketing Essentials Mark Spagnol
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Elliot, J., 2012. Leading Apple With Steve Jobs: Management Lessons From a Controversial Genius. 1st ed.
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Didner, P., 2014. Global Content Marketing: How to Create Great Content, Reach More Customers, and
Build a Worldwide Marketing Strategy that Works. 1st ed. s.l.:McGraw-Hill.
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positioning.html
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Elliot, J., 2012. Leading Apple With Steve Jobs: Management Lessons From a Controversial Genius. 1st ed.
New Jersey: John Wiley & Sons.
Ennew, C. & Waite, N., 2013. Financial Services Marketing. 2nd ed. Oxon: Routledge.
Esvary, P., 2016. Kodak Vs Fujifilm: The Truth Behind Their Success And Failure. [Online]
Available at: https://www.leaderonomics.com/articles/business/kodak-vs-fujifilm-success-failure
[Accessed 15 May 2023].
Farris, P. W., Bendle, N. T., Pfeifer, P. E. & Reibstein, D. J., 2010. Marketing Metrics. 1st ed. New Jersey:
Pearson.
Feld, B. & Wise, S., 2017. Startup Opportunities. 2nd ed. New Jersey: Wiley.
Ferguson, A., 2020. What Are The Advantages and Disadvantages of Value-Based Pricing?. [Online]
Available at: https://www.linkedin.com/pulse/what-advantages-disadvantages-value-based-pricing-
annette-ferguson
[Accessed 13 May 2023].
Fox, V., 2010. Marketing in the Age of Google: Your Online Strategy Is Your Business Strategy. 1st ed.
New Jersey: Wiley.
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Unit 7 – Marketing Essentials Mark Spagnol
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Unit 7 – Marketing Essentials Mark Spagnol
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Unit 7 – Marketing Essentials Mark Spagnol
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Wizard of Sales, 2022. What Is Cost-Based Pricing? The Pros And Cons. [Online]
Available at: https://sellingrevolution.com/blog/what-is-cost-based-pricing-the-pros-and-cons/
[Accessed 13 May 2023].
Yunk, K., 2019. Benefits of a Sales Support Marketing Strategy. [Online]
Available at: https://www.8x8.com/blog/sales-support-marketing-strategy
[Accessed 17 April 2023].
Zaman, I., 2021. The Rise and Fall of Blockbuster by Digital Disruption. [Online]
Available at: https://www.linkedin.com/pulse/rise-fall-blockbuster-digital-disruption-imran-zaman-1c
[Accessed 15 May 2023].
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