Division of Business Course: HND Level 5 Business (management) Year: 2014/15 Student Name: UNIT 4: Marketing Principles Lecturers Name: Mr A Pius Date Issued: 6th of October 2014 Completion Date: 16th of January 2015 Fail Pass Merit Distinction P1 P2 P3 P4 P5 P6 P7 P8 P9 P10 P11 P12 P13 P14 P15 P16 M1 M2 M3 D1 D2 D3 Learning Outcomes: 1 Understand the concept and process of marketing 2 Be able to use the concepts of segmentation, targeting and positioning 3 Understand the individual elements of the extended marketing mix 4 Be able to use the marketing mix in different contexts. Comments: Assessor’s Signature:______________ Date:______________ Late: Yes No Referred Internal Verification: Yes No I declare that the work I am submitting for assessment contains no sections in copied in whole or part from any other source, unless it is explicitly identified by means of quotation mark or by means of wholly indented paragraphs. I declare that I have also acknowledged such quotations by providing detailed references in an approved format. I understand that unidentified and un-referenced copying both constitutes plagiarism which is an offence. I give my consent for my work being scanned by Turnitin formatively and summatively for the purposes of assessment. Student Signature: Received: Date: Date: EDEXCEL HND Business (management) Unit 4: Marketing Principles Scenario You are employed as a marketing consultant by a supermarket chain that wishes to expand operations from mainland Europe into the UK market. Their business model and image are similar to the UK supermarket chain, Tesco. Before they acquire sites in the UK, they want you to carry out an in depth study into marketing in Tesco. This will help them with their future business plans. Most of the information you require will be available through the Tesco website. You should do additional research into news and financial reports about the chain, for example, there are several articles in the publication ‘Marketing Week’. It would be useful to visit a Tesco store to help with your research. Your research has been divided into different tasks to help you structure your assignment. The findings from tasks 1, 2 and 3 can be submitted in one report containing one introduction at the beginning and one conclusion at the end. The findings from tasks 4 can be presented in a class presentation and presentation slides need to be submitted. LO1: The concept and process of marketing Carry out appropriate research and produce the first section of your report explaining the concept and process of marketing in Tesco. You should ensure that this section includes an explanation of the elements of the marketing process in Tesco. Please be aware that the following ACs must be considered in your report; AC1.1 Explain the various elements of the marketing process in Tesco, by providing an overview of marketing process in Tesco. You can discuss marketing audit process in Tesco; conduct a SWOT analysis for Tesco and identify marketing objectives of Tesco. AC1.2 Evaluate the benefits and costs of a marketing orientation, and establish links between marketing orientation and building competitive advantage in Tesco. Look at how Tesco is being benefited from building customer satisfaction, relationship marketing and customer retention. LO2: Segmentation, targeting and positioning In your report, you will demonstrate an understanding of the segmentation, targeting and positioning strategies in Tesco. Please be aware that the following ACs must be included in your report; AC2.1 Show macro and micro environmental factors which influence marketing decisions in Tesco AC2.1 Propose segmentation criteria to be used for products in different markets, include a review of Tesco’s main market segments and an explain how they have been segmented e.g. demographic and geographic. AC2.3 Choose a targeting strategy for a selected product/service in Tesco. AC2.4 Demonstrate how buyer behaviour affects marketing activities in different buying situations with examples with Tesco products/services. AC2.5 Propose new positioning for a selected product/service, by comparing Tesco with other supermarket chains LO3: Individual elements of the extended marketing mix Carry our appropriate research and produce this section of your report explaining the role of the individual elements of the extended marketing mix (7Ps) in Tesco’s and how it helps contribute to business objectives. Please be aware that the following ACs must be included in your report; AC3.1 Explain how products in Tesco are developed to sustain competitive advantage AC3.2 Explain how distribution is arranged to provide customer convenience in Tesco AC3.3 Explain how prices are set to reflect Tesco’s objectives and market conditions AC3.4 Illustrate how promotional activity is integrated to achieve marketing objectives in Tesco AC3.5 Analyse the additional elements of the Tesco’s extended marketing mix LO4: Using the marketing mix in different contexts Scenario The CEO of the supermarket chain knows you are an expert in marketing. You have both theoretical and practical expertise. In addition to your investigative consultancy report, he wants you to make a presentation for the Board of Directors and explain some marketing issues they are struggling to deal with. The issues CEO identified and requested you to make presentation are: panning marketing mixes for different segments; business to business model and differences between international marketing and domestic marketing. In order to explain them marketing mix you have selected two of their existing products from the existing market: one is a fruity breakfast cereal and another one is Tesco Mobile. You have identified potential segments for both products from the UK consumer market and planed marketing mixes for both products. Present your plan of marketing mix. In your presentation illustrate differences in marketing products and services. Also explain the business to businesses marketing model. Show them how and why international marketing differs from domestic marketing. Please be aware that the following ACs must be included in your report; AC4.1 Plan marketing mixes for two different segments in consumer markets AC4.2 Illustrate differences in marketing products and services to businesses rather than consumers AC4.3 Show how and why international marketing differs from domestic marketing. Resources Textbooks Brassington, F. and Pettitt, S. (2006) Principles of Marketing. 4th Edition. Financial Times/Prentice Hall. Kotler, P. et al (2010) Principles of Marketing. 5th Edition. Financial Times/prentice Hall. Journals Campaign (Haymarket Publishing) Harvard Business Review (Harvard Business Publishing) The Marketing Review (Westburn Publishers Ltd) The Marketer (Journal of the Chartered Institute of Marketing Magazine) Marketing Business (The Chartered Institute of Marketing Magazine) Marketing Week (Centaur Communications Ltd) The Financial Times and other daily newspapers which contain a business section and market reports Websites www.bized.co.uk www.cim.co.uk Bized provides a selection of teaching and learning resources The Chartered Institute of Marketing’s site contains a useful knowledge centre www.ft.com The Financial Times business sections www.thetimes100.co.uk multimedia resources Submission Guideline Work should be referenced Sources should be acknowledged fully by referenced books, journals used and URL visited All work should be word processed, font size of 12 and font style of Times New Roman/Arial Subtitles of the assignment should be in the font size of 14 Pages should be numbered in the bottom right hand corner Spell check the document and read thoroughly for grammatical errors 1.5 Line spacing Reference at the end of the assignment All paragraphs should be aligned in justified mode The guided word limit is between 2500-4000 words In addition to the above Pass Criteria, this assignment gives you opportunity to submit evidence in order to achieve the following MERIT and DISTINCTION grades Grade Descriptor Indicative characteristic/s Contextualisation To achieve M1: M1 Identify and apply strategies to M1.1 Effective judgements have been made. You will make effective judgements about fundamental concepts find appropriate solutions and principles that underpin the marketing in Tesco. M1.2 Complex problems with more than one variable have been explored. M1.3 An effective approach to study and research has been applied. M2 Select/design and apply appropriate methods/techniques M3 Present and communicate appropriate findings M2.1 Relevant theories and techniques have been applied You will provide supporting and contrasting examples to explain a complex issue. You will also adopt an effective approach to study and research by integrating secondary and empirical examples in the report. In addition, you will use resources to support your arguments which are academically accredited, good quality, up-to-date, relevant and appropriate to the level of this course of study. (AC 1.1,1.2,2.1,2.2) To achieve M2: You will apply relevant theories of Marketing Principles. M2.2 A range of sources of information has been used You will also use range of sources of information. Range means range in quantity and range in variety. In addition, arguments will be supported by drawing information from variety of sources including variety of sources such as internet, journals, books etc. M2.3 Appropriate learning methods/ technique have been applied You will also acknowledge all resources using correct Harvard Referencing System. (AC1.1,1.2,2.1,2.2,2.3) M3.1 Appropriate structure and approach has been used To achieve M3: You will use appropriate academic report format to present the work neatly and professionally maintaining highest academic and professional standard. D1 Use critical reflection to evaluate own work and justify valid conclusion M3.2 Coherent, logical development of principals/concepts for the intended audience You will make sure arguments/theories provided are appropriate to the audience. M3.3 A range of methods of presentation have been used and technical language has been accurately used You will also use technical language accurately in the context and check the work for spelling errors. (AC 2.1,2.2,2.3,2.4,2.5) To achieve D1: You will provide concluding paragraph for each task and an overall conclusion that would derive directly from your analysis. You should justify the conclusion you have reached. D1.1 Conclusions have been arrived at through synthesis of ides and have been justified. D1.2 Realistic improvements have been proposed against defined characteristics for success. D2 Take responsibility for managing and organising activities D2.1 Autonomy / independence demonstrated D2.2 Activities have been managed D3Demonstrate convergent/lateral/creative thinking D3.1 Self-evaluation has taken place D3.2 Convergent and lateral thinking have been applied D3.3 Innovation/creative thought have been applied Provide recommendation for further improvements. (AC 2.1,2.2,2.3,2.4,2.5,3.1,3.2,3.3) To achieve D2: You will have demonstrated an effective approach to independent research and study. You will have met the deadline to submit the tasks. You will also have attended regularly and contributed to class sessions. (AC 2.1,2.2,2.3,2.4,2.5,3.1,3.2,3.3,3.4,3.5) To achieve D3: You will write a self-evaluation showing your ability to reflect upon your learning by identifying strengths and areas for improvement in relation to Marketing Principles unit. You will be conducting a thorough and critical investigation. This can be done by outlining, comparing and discussing key ideas, explanations, concepts, theories and models associated with the topic area. The originally of your work will be evident. (AC 2.1,2.2,2.3,2.4,2.5,3.1,3.2,3.3,3.4,3.5,4.1,4.2,4.3)