Unit 3: Introduction to Marketing P6 M3
P6 M3
Unit – 3 (Introduction to
Marketing)
BTEC National Diploma In Business Level 3
The Date
Author: Your Name
Your Teacher
1
,Unit 3: Introduction to Marketing P6 M3
Unit 3 – Introduction to Marketing
To:
From:
Date:
Ref:
On completion of this unit I should:
I. Know the role of marketing in organisation
II. Be able to use marketing research and marketing planning
III. Understand how and why customer groups are marketed
IV. Be able to develop a coherent marketing mix
Task 6:
1. Develop a coherent marketing mix for a new product or service.
2. Develop a coherent marketing mix that is targeted at a defined group of potential customers.
1.0 Scenario
My reputation for being innovative Market Research Consultants is growing from strength to
strength, with my latest work on Market Segmentation wining more industry awards.
Drea Knuffke, Senior writer at BusinessPundit.com has approached me to develop a coherent
marketing mix for a new product that is targeted at a defined group of potential customers. She has
asked me to present mu findings as a report which she can use as the basis for an article for the
online magazine, showing how innovative products can be launched successfully into the market
within the right Marketing Mix targeted at the right group of potential customers.
2.0 Terms of reference
In this report I have been asked to develop a coherent marketing mix for a new product that is
targeted at a defined group of potential customers. I will use the Internet, Moodle and my Business
Textbook to collect information for this report.
2
, Unit 3: Introduction to Marketing P6 M3
3.0 The Marketing Mix
Marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or
product in the market. The 4Ps make up a typical marketing mix - Price, Product, Promotion and
Place. However, nowadays, the marketing mix increasingly includes several other Ps like People,
Process and Physical Environment as vital mix elements.
The marketing mix is often referred to as the “Seven P’s” - since the most important elements of
marketing are concerned with:
1. Price – this where business to decide how much customers should pay for a product. A
product is only worth what customers are prepared to pay for it. The price also needs to be
competitive, but this does not necessarily mean the cheapest; the small business may be able
to compete with larger rivals by adding extra services or details that will offer customers
better value for money.
2. Product – the is no point in developing a product or service that no one wants to buy, yet
many businesses decide what to offer first, and then hope to find a market for it afterwards. In
contrast, the successful company will find out what customers need or want and then develop
the right product – with the right level of quality to meet those needs now an in the future.
3. Promotion – All of the methods of communication that a marketer may use to provide
information to different parties about the product. It’s includes activities such as branding,
advertising, sales management, special offers and exhibitions. Promotion must gain attention,
be appealing, tell a consistent message and above all else give the customer a reason to
choose your product rather than someone else’s.
4. Place – Refers to providing the product at a place which is convenient for consumers to
access. The product must be available in the right place, at the right time and in the right
quantity.
5. People – Anyone who comes into contact with your customers will make an impression,
and that can have a profound effect on customers. The reputation of your brand rests in your
employees. Therefore, they must be appropriately trained, well-motivated and have the right
attitude towards the job and customers.
6. Process – The process of giving the service and the behavior of those who deliver are
crucial to customer satisfaction. Issues such as waiting times, the information given to
customers and the helpfulness of staff are all vital to keep customers happy.
7. Physical Environment – Facilities such as a clean tidy and well-decorated reception area
can help to reassure customers. Sometimes service or product you provide can be perceived
as a risky business by your customers.
A successful marketing depends upon addressing these key issues listed above. All the elements of
the marketing mix influence each other. They make up the business plan for a company and if
handled right, can give it great success. But handled if wrong and the business could take years to
recover.
3
P6 M3
Unit – 3 (Introduction to
Marketing)
BTEC National Diploma In Business Level 3
The Date
Author: Your Name
Your Teacher
1
,Unit 3: Introduction to Marketing P6 M3
Unit 3 – Introduction to Marketing
To:
From:
Date:
Ref:
On completion of this unit I should:
I. Know the role of marketing in organisation
II. Be able to use marketing research and marketing planning
III. Understand how and why customer groups are marketed
IV. Be able to develop a coherent marketing mix
Task 6:
1. Develop a coherent marketing mix for a new product or service.
2. Develop a coherent marketing mix that is targeted at a defined group of potential customers.
1.0 Scenario
My reputation for being innovative Market Research Consultants is growing from strength to
strength, with my latest work on Market Segmentation wining more industry awards.
Drea Knuffke, Senior writer at BusinessPundit.com has approached me to develop a coherent
marketing mix for a new product that is targeted at a defined group of potential customers. She has
asked me to present mu findings as a report which she can use as the basis for an article for the
online magazine, showing how innovative products can be launched successfully into the market
within the right Marketing Mix targeted at the right group of potential customers.
2.0 Terms of reference
In this report I have been asked to develop a coherent marketing mix for a new product that is
targeted at a defined group of potential customers. I will use the Internet, Moodle and my Business
Textbook to collect information for this report.
2
, Unit 3: Introduction to Marketing P6 M3
3.0 The Marketing Mix
Marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or
product in the market. The 4Ps make up a typical marketing mix - Price, Product, Promotion and
Place. However, nowadays, the marketing mix increasingly includes several other Ps like People,
Process and Physical Environment as vital mix elements.
The marketing mix is often referred to as the “Seven P’s” - since the most important elements of
marketing are concerned with:
1. Price – this where business to decide how much customers should pay for a product. A
product is only worth what customers are prepared to pay for it. The price also needs to be
competitive, but this does not necessarily mean the cheapest; the small business may be able
to compete with larger rivals by adding extra services or details that will offer customers
better value for money.
2. Product – the is no point in developing a product or service that no one wants to buy, yet
many businesses decide what to offer first, and then hope to find a market for it afterwards. In
contrast, the successful company will find out what customers need or want and then develop
the right product – with the right level of quality to meet those needs now an in the future.
3. Promotion – All of the methods of communication that a marketer may use to provide
information to different parties about the product. It’s includes activities such as branding,
advertising, sales management, special offers and exhibitions. Promotion must gain attention,
be appealing, tell a consistent message and above all else give the customer a reason to
choose your product rather than someone else’s.
4. Place – Refers to providing the product at a place which is convenient for consumers to
access. The product must be available in the right place, at the right time and in the right
quantity.
5. People – Anyone who comes into contact with your customers will make an impression,
and that can have a profound effect on customers. The reputation of your brand rests in your
employees. Therefore, they must be appropriately trained, well-motivated and have the right
attitude towards the job and customers.
6. Process – The process of giving the service and the behavior of those who deliver are
crucial to customer satisfaction. Issues such as waiting times, the information given to
customers and the helpfulness of staff are all vital to keep customers happy.
7. Physical Environment – Facilities such as a clean tidy and well-decorated reception area
can help to reassure customers. Sometimes service or product you provide can be perceived
as a risky business by your customers.
A successful marketing depends upon addressing these key issues listed above. All the elements of
the marketing mix influence each other. They make up the business plan for a company and if
handled right, can give it great success. But handled if wrong and the business could take years to
recover.
3
