MARKETING ESSENTAILS.docx - MARKETING ESSENTIALS Higher National Certificate\/Diploma in Business Student Name\/ID Number HAMZA IMRAN Unit Number and

MARKETING ESSENTAILS.docx - MARKETING ESSENTIALS Higher...

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MARKETING ESSENTIALS
Higher National Certificate/Diploma in Business Student Name/ID Number: HAMZA IMRAN Unit Number and Title: Unit 6: Managing a Successful Business Project Academic Year: 2019 Unit Assessor: XYZ Assignment Title: Unit 6: Managing a Successful Business Project Issue Date: 2019 Submission Date: Internal Verifier Name: MARIAM QASIM Contents P1: ............................................................................................................................................................... 1 Definition of marketing ................................................................................................................................ 1 Key roles for the marketing function ........................................................................................................... 1
Figure1: 4Ps of the marketing mix (Harris, 2004) ......................................................................................... 3 P2 ................................................................................................................................................................ 4 Roles and responsibility of marketing of M&S ............................................................................................. 4 External environment influence .................................................................................................................. 4 Marketing mix .............................................................................................................................................. 4 Explain the role of marketing within B2B context ........................................................................................ 5 The role of marketing within B2B context is as follows ................................................................................ 5 The role of marketing within B2C context is as follows: .............................................................................. 6 Marketing of M&S through B2C context ...................................................................................................... 6 P3 ................................................................................................................................................................ 7 Extended marketing mix .............................................................................................................................. 7 Figure2: 7P's of the marketing mix (Lamb, Hair and McDaniel, 2012) ......................................................... 7 Importance of extended marketing mix ...................................................................................................... 8 Applying mix in M&S ................................................................................................................................... 8 P4: ............................................................................................................................................................. 11 Executive summary .................................................................................................................................... 11 Company overview .................................................................................................................................... 12 Objectives of the marketing plan ............................................................................................................... 12 Market analysis .......................................................................................................................................... 12 SWOT analysis ............................................................................................................................................ 12 PSTEL analysis ............................................................................................................................................ 13 Identify sales channel ................................................................................................................................ 14 Track the marketing activities .................................................................................................................... 14 Extended Marketing mix ............................................................................................................................ 15 Evaluate the progress ................................................................................................................................ 16 Works Cited ............................................................................................................................................... 16 Bibliography ............................................................................................................................................... 17
LO 1: EXPLAIN THE ROLE OF MARKETING AND HOW IT INTERRELATES WITH OTHER FUNCTIONAL UNITS OF AN ORGANISATION. P1: M1: D1: Definition of marketing Marketing is the process of creating awareness among the customers about the product of the organization through commercialization and advertisement ([ CITATION Kre \l 1033 ]). Marketing is also the information exchange with the customers by effective communication and attracts the customers to certain products and services. Key roles for the marketing function Marketing plays different roles through different marketing function, they are; Marketing strategy: marketing strategy is the introducing innovative ideas in marketing products and services in the market to reach the customers easily with the product and services of the organization. Market analysis: market analysis is the market exploration to search targeted customers for the organizational products and services ([ CITATION Har1 \l 1033 ]). Market analysis enables the organization to take competitive advantage of the market and attract the customers. It enhances the organizational development and employees improve the targeted customer’s satisfaction. Market analysis also consists of SWOT analysis which is the strength, weakness, opportunity, and threads in the markets against the competitors. Market segmentation: Market segmentation is the separation of the different market for organizational growth and development. The organization needs to find out certain market which will help the organization with its resources of targeted customers and the suitable business environment. The organization needs to segment the market according to their specialization of different products and services delivered to the customers.

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