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D/504/6292

VRQ

UV21328

Understanding marketing

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UV21328Understanding marketing

The aim of this unit is to develop your knowledge and understanding of marketing. You will learn how to carry out market research using different methods and target a segment for marketing purposes. You will be able to identify features and benefits of products and sevices and address appoaches to pricing.

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GLH

Credit value

Level

Observation(s)

External paper(s)

32

4

2

0

0

On completion of this unit you will:

Learning outcomes Evidence requirements

Understanding marketing

1. Understand how marketing is planned in an organisation

2. Understand how customers can be segmented

3. Understand how to carry out market research

4. Understand the marketing mix

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1. Knowledge outcomes There must be evidence that you possess all the knowledge and understanding listed in the Knowledge section of this unit. You are encouraged to produce evidence which is applied to realistic work environments either your own or one of your choice. This evidence may include projects, assignments, case studies, reflective accounts, oral/written questioning and/or other forms of evidence.

2. Tutor/Assessor guidance You will be guided by your tutor/assessor on how to achieve learning outcomes in this unit. All outcomes must be achieved.

3. External paper There is no external paper requirement for this unit.

Achieving knowledge outcomes

Developing knowledge

You will be guided by your tutor and assessor on the evidence that needs to be produced. Your knowledge and understanding will be assessed using the assessment methods listed below*:

• Projects• Observed work• Witness statements• Audio-visual media • Evidence of prior learning or attainment• Written questions• Oral questions• Assignments• Case studies• Professional discussion

Where applicable your assessor will integrate knowledge outcomes into practical observations through professional discussion and/or oral questioning.

When a criterion has been orally questioned and achieved, your assessor will record this evidence in written form or by other appropriate means. There is no need for you to produce additional evidence as this criterion has already been achieved.

Some knowledge and understanding outcomes may require you to show that you know and understand how to do something. If you have practical evidence from your own work that meets knowledge criteria, then there is no requirement for you to be questioned again on the same topic.

*This is not an exhaustive list.

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Knowledge

Learning outcome 1

Understand how marketing is planned in an organisation

You can: Portfolio reference

a. Describe what marketing is

b. Explain the structure of a marketing plan used in organisations

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Learning outcome 2

Understand how customers can be segmented

You can: Portfolio reference

a. Describe consumer and business segmentation

b. Explain how to target a segment for marketing purposes

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Learning outcome 3

Understand how to carry out market research

You can: Portfolio reference

a. Describe market research methods

b. Explain how to carry out market research

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Learning outcome 4

Understand the marketing mix

You can: Portfolio reference

a. Identify the features and benefits of products and services

b. Describe approaches to pricing products and services

c. Identify channels or routes to market from production to consumption

d. Explain the elements of the promotion mix

e. Explain the use of physical evidence

f. Describe how people add value to the customer experience

g. Identify how organisation processes create the overall customer experience

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Learning outcome 1: Understand how marketing is planned in an organisation

Unit content

This section provides guidance on the recommended knowledge and skills required to enable you to achieve each of the learning outcomes in this unit. Your tutor/assessor will ensure you have the opportunity to cover all of the unit content.

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Marketing: Definitions of marketing, role of marketing, concept, production and market orientation, sales orientation, macro (external) and micro (internal) marketing environment.

Learning outcome 2: Understand how customers can be segmented

Market segmentation: Market segmentation, target markets, segmenting consumer markets (location, demographics, benefits, usage), segmenting business markets (location, size, usage rates, industry, product or service use).

Learning outcome 3: Understand how to carry out market research

Market research: Defining market research, benefits, sources of information (primary, secondary, internal and external), field research, desk research.

Research methods: Sampling, survey, questionnaires, focus groups, interviews, hall tests, electronic point of sale, test marketing; advantages and disadvantages of methods.

Marketing plans: Developing marketing plans, logical structures, link to strategy, objectives, marketing audit, environmental scanning.

Learning outcome 4: Understand the marketing mix

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Marketing mix: The extended marketing mix, 7P’s (product, price, place, promotion, people, process, physical evidence).

Product – products and service characteristics, reasons for purchasing (uniqueness, perceived value, convenience, location, availability).

Price – role of pricing, cost and profit, cost price model, setting prices, customer expectations, influences on price/internal and external factors.

Place – distribution channels, range of intermediaries, route to market needs of the customer, direct selling, selling wholesale, distance selling, online selling, combination of channel.

Promotion – communication, advertising, branding, e-communications, personal selling, direct marketing, public relations, sales promotion, point of sale display.

Physical evidence – point at which service is being delivered, environment, facilities, ambience, image, tangible evidence.

People – roles in service delivery, reliance on people to deliver service, customer relationships.

Processes – importance of the process of delivery, policies, procedures, automation, flow of information, capacity to deliver service, speed, timing.