Applied Business Marketing

Understand the marketing environment of an organisation.

• Macro environment
  DESTEP - demographic; economic; political; ecological; socio-cultural; technological

• Micro environment
  Customers; producers; intermediaries; marketing channels; an organisation’s functional areas.

Assessment Criteria

• 1.1

  Determine the macro marketing environment of an organisation.

• 1.2

  Determine the micro marketing environment of an organisation.

Be able to use a strategic marketing analysis to inform a marketing strategy.

• Environmental scan
  Data gathering; establish causal relationships between data and the organisation; competitor analysis; self-analysis
• Market segmentation
  Market division based on characteristics; demographic; geographic; firmographic; physiographic; behavioural.
• PESTLE
  Political; economic; social; technological; legal; environmental.
• SWOT
  Strengths, weaknesses, opportunities; threats.
• Ansoff Matrix
  Comparing markets with products to determine strategy; market penetration; market development; diversification; product development.
• Porter’s Five Forces
  Framework for analysing the competitor environment; threats of new entry; supplier power; threat of substitution; buyer power; competitive rivalry

Assessment Criteria

• 2.1

  Select and apply appropriate tools to carry out a strategic marketing analysis.

Be able to analyse an organisation’s products and services and consumer buying behaviour to inform marketing tactics.

• Product life-cycle
  Stages of a product from inception to removal from the market; introduction; growth; maturity; decline.
• Marketing mix
  A combination of factors used to influence customer behaviour; product; price; place; promotion.
• Consumer buying behaviour
  Attitudes; preferences; intentions; decisions.
  
  
• Marketing tactics
  Marketing channels; guerrilla marketing; inbound marketing; relationship marketing; social media marketing.

Assessment Criteria

• 3.1

  Apply the product lifecycle model to an organisation’s products and/or service.

• 3.2

  Apply the marketing mix model to an organisation’s products and/or services.

• 3.3

  Determine the consumer buying behaviour for an organisation’s products and/or services.

Be able to develop a marketing plan.

• Marketing plan
  Market research; environmental analysis; market analysis; competitor analysis; target market; strategic intent; tactical approach.
  The plan draws together the various elements of the unit into a succinct and practical document.

Assessment Criteria

• 4.1

  Produce an appropriate marketing plan for an organisation’s products and/or services based on previous analysis and recommendations.