Fundamentals of Marketing is designed to allow learners to understand the basics of marketing and how marketing research, marketing planning and the tactical elements of marketing are implemented within organisations to help them to stay customer focused and competitive.
- This course is offered in 50 contact hours.
Upon successful completion of this unit, learners will be able to:
- Explain how changes in the environment stimulated the development and growth of marketing;
- Identify how marketing orientation can be achieved by an organisation and the benefits of marketing for various types of organisations;
- Identify elements of the marketing environment and the impact on an organisation;
- Explain the marketing planning process and how marketing budgets are set;
- Explain the concept of various marketing strategy models;
- Identify the elements of the tactical marketing mix and extended marketing mix.
Explain how changes in the environment stimulated the development and growth of marketing:
- Understand the history of marketing and the development of marketing through industrialization; identify methods of trade, for example, bartering.
- Define the focus of marketing in the organisation.
Identify how marketing orientation can be achieved by an organisation and the benefits of marketing for various types of organisations:
- Identify and explain the characteristics of a marketing orientation; production orientation; product orientation and sales orientation.
- Explain the relationship that marketing has with other units of the organisation.
- Describe the role of marketing in an organisation.
- Define and understand the marketing for a Small or Medium Sized Enterprise; Large Business and Not for Profit organisation.
Identify elements of the marketing environment and the impact on an organisation:
- Illustrate how the macro environmental factors can affect the operation of an organisation. Understand and describe what the political,
- Understand and describe what the political, economic, socio-cultural and technological elements are.
- Explain and illustrate how the micro environmental factors can impact the operation of an organisation.
- Identify the elements of the micro environment: customers; suppliers; employees.
- Explain the internal environment of an organisation, define internal marketing.
Explain the marketing planning process and how marketing budgets are set:
- Describe the various stages of the marketing planning process, from situation analysis to monitoring and control.
- Examine the role of research in the situation analysis, define marketing research.
- Define the SWOT analysis and identify how the organisation sets marketing objectives.
- Identify and describe the different methods an organisation can use to set budgets: objective and task; percentage of sales; same as last year.
Explain the concept of various marketing strategy models:
- Identify and explain segmentation, including segmentation strategies and bases: demographic; psychographic; geographic segmentation.
- Identify and describe the criteria for evaluating a segment.
- Describe targeting strategies: differentiated; undifferentiated and concentrated marketing.
- Define the process of positioning: identify; differentiate; communicate.
- Identify and describe the ANSOFF Matrix and the four elements of Ansoff.
- Understand how the size of the organisation can impact the strategic decisions made.
Identify the elements of the tactical marketing mix and extended marketing mix:
- Identify the 7Ps of marketing: product, price, place, promotion, people, physical evidence and process.
- Define the Product element of marketing; identify and describe the stages of the PLC: introduction; growth; maturity and decline.
- Explain and illustrate the stages of the New Product Development process: from idea generation to commercialization.
- Identify and explain the main price setting strategies in an organisation: market penetration and market skimming; identify how an organisation can select the relevant pricing strategies.
- Identify the role of place to the organisation; identify and define selective, exclusive and intensive distribution strategies.
- Identify and define the tools of the promotional mix: advertising; public relations; sales promotions; direct marketing and personal selling.
- Identify the impact of technology on the marketing mix elements.
- Matriculation to Higher National Diploma: Business
Secure your foundation for a degree and career in Business or Human Resource Management.
The Matriculation to the Higher National Diploma (HND) in Business is a Pearson (UK) and ACTT approved Foundation programme, geared toward CSEC / CXC graduates as an alternative to CAPE or 6th Form. It provides such learners with the opportunity to pursue a higher level qualification in a Business discipline, by enabling a seamless transfer from Secondary to Post-secondary education.
Graduates of the Matriculation programme will progress directly to Pearson's Higher National Diploma (HND) in Business and then onto the final year of an undergraduate degree; either the BA (Hons) Human Resource Management or BA (Hons) Business Management (Marketing) from the University of Greenwich, or BA (Hons) Business Management from the University of Sunderland.