This is a solution of Marketing Principles that describes about Developing business
|UNIT NAME||Marketing Principles||COURSE NAME||HND Business|
|UNIT NUMBER||4||UNIT LEVEL||4||UNIT CODE||F/601/0556|
|LECTURER||John Mariampillai||VERIFIER||Sean Barrett|
|HAND OUT DATE||23rd September 2013||SUBMISSION DATE||15th December 2013|
It is important that the work you produce is carefully planned & written.
Your work should demonstrate;
(a) Your understanding of the theory you have learned (underpinning knowledge) and
(b) Your ability to apply it to real life/contemporary situations/case study (applied knowledge).
Please follow the instructions below:
- Start each answer from a new page;
- Highlight each question clearly;
- Avoid bullet points and restrict the use of numberings; remember that you are supposed to write an essay;
- All work should be comprehensively referenced and all sources must be acknowledged fully, this includes books & journals used as well websites visited. Details such as page numbers, publishers and publication year should also be stated, in addition to the name of the author(s) and publication. Books, articles and journals should be the main sources; Internet sources are allowed up to 19% max;
- Follow Harvard Referencing system;
- All work should be word-processed;
- Pages should be numbered (bottom right hand corner);
- Assignment details sheet should be attached in the front (download from ABILearn);
- Spell checks the document and read thoroughly for grammatical errors;
- 5-line spacing is preferred;
- References at the end of the assignment;
The correct format to answer each question (Task) is as follows:
- Introduction (analyse the question – which theory is it trying to ask you to demonstrate?)
- Underpinning Knowledge (write about the relevant theory/points)
- Applied Knowledge (apply the theory/points you have written about in your underpinning knowledge to your case study/real life example)
- Conclusion (summarise what you have written in 2 & 3 above).
§ ASSIGNMENT REGULATIONS
Please refer to the HND Business Student Handbook given at the beginning of your programmer.
Note: These guidelines may be superseded by additional guidelines stated in the specific assignment requirements.
Using the following case organisation answer Part A and Part B questions.
Argos was founded in 1973 and is now the UK’s leading general merchandise retailer with sales of over £3.3 billion. Argos is owned by GUS plc and is part of the Argos Retail Group with over 580 stores in the UK and Republic of Ireland, as well as distribution centres, call centres and its head office in Milton Keynes, employing over 23,000 people in total. Approximately 98% of the UK population live within 10 miles of an Argos store.
In the modern world of retailing consumers can have their needs met in a variety of ways such as High Street shopping, out of town shopping centres, and by direct delivery from Internet orders. Competition among retailers is increasingly getting tough.
Marketeers at Argos therefore are continually concerned with addressing the questions:
- Who are our customers? (Argos needs to find out as much as possible about its customers in order to meet their needs)
- Are we offering the right combination of choice, value and convenience?
- How can we create a compelling competitor advantage? (How is Argos different from the competition?)
- How can we defend what business we already have and how can we grow?
- How do we effectively communicate to our customer base?
(a) Define the term marketing and explain the elements of the marketing process. (1.1)
(b) Evaluate the benefits and costs in adopting a marketing orientation for an organisation such as Argos. (1.2)
(c) Demonstrate your understanding on the differences between the consumer buying behaviour and organisational buying behaviour. (2.4)
(d) Explain the differences between the domestic marketing and international marketing environment. (4.3)
(e) Explain how marketing products and services to consumers differ from marketing products and services to organisations. (4.2)
(a) Discuss how the following factors can influence Argos’s marketing decisions. (2.1)
- – Political
- – Economical
- – Social/Cultural
- – Customers
- – Competitors
- – Suppliers
(b) Using realistic criteria segment the market for Argos (products and services). (2.2)
(c) Choose an appropriate targeting strategy for your organisation’s (Argos) product/s. (2.3)
(d) Propose a new positioning strategy for your organisation’s (Argos) product/s. (2.5)
(e) Illustrate how products can be developed to sustain competitive advantage with appropriate examples? Help: Students could discuss the New Product Development process with appropriate examples to illustrate how it can be used to sustain competitive advantage. (3.1)
(f) Explain the differences between the skimming and penetration pricing strategies. (3.3)
(g) Discuss how effectively Argos could integrate their promotional activities to achieve its marketing objectives. (3.4)
(h) The extended marketing mix additionally comprises elements such as people, processes and physical evidence. Analyse these 3 elements of the extended mix with examples. (3.5)
(i) The channel of distribution refers to the chain which links the manufacturer and the user. Discuss how an organisation’s distribution can be arranged to offer convenience to customers. (3.2)
(j) Plan marketing mixes for any two segments of your choice that is been served by Argos. (4.1)
|PASS QCF||Learner’s Evidence Shows|
|All the requirements defined in the pass assessment criteria for each unit are met;|
|PASS||Assessment criteria for pass|
|1 Understand the concept and process of marketing||1.1 explain the various elements of the marketing process|
1.2 evaluate the benefits and costs of a marketing orientation for a selected organisation
|2 Be able to use the concepts of segmentation, targeting and positioning||2.1 show macro and micro environmental factors which|
influence marketing decisions
2.3 choose a targeting strategy for a selected
2.4 demonstrate how buyer behaviour affects marketing
activities in different buying situations
2.5 propose new positioning for a selected product/service
|3 Understand the individual elements of the extended marketing mix||3.1 explain how products are developed to sustain|
objectives and market conditions
3.4 illustrate how promotional activity is integrated to
achieve marketing objectives
|4.1 plan marketing mixes for two different segments in|
to businesses rather than consumers
|MERIT||Learner’s Evidence Shows|
|M1. Complex macro and micro factors are identified, each factors are clearly explained and examined in relation to their influence on a firm’s marketing decisions;|
|M2. New product development process to sustain competitive advantage is illustrated and discussed. Answer contains evidence of wide range of sources;|
|M3. Clear appropriate integrated promotional activities have been recommended. Answer shows logical and coherent arguments;|
|DISTINCTION||Learner’s Evidence Shows|
|D1. Wide range of Macro and Micro factors are identified and explained in relation to their influence on firm’s marketing decisions making ; high level of analysis and synthesis are evident within the answer along with appropriate wide range of references.|
|D2. Answer shows independent thinking in illustrating how the new product development process can be used to sustain competitive advantage. Answer contains /discusses unforeseen factors;|
|D3. In addition to proposing appropriate integrated promotional activities, answer shows creative thinking which is evident from the new creative activities proposed in relation to your organisation’s promotions;|
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