[heading text="BTEC Level 5 HND Diploma in Business (QCF) - Unit title: Marketing Principles" tag="h2" bot="35px"] This HND Marketing Principles Assignment is given in the Marketing principle unit of BTEC Level 5 HND Diploma in Business (QCF). This is given in the British Institute of Technology & E-commerce.
Assignment Title: Making Marketing Decisions with understanding of Marketing Principles
You have been appointed as the Marketing Consultant to advise Boots’ the retailer’s management on formulating the company’s marketing strategy. You are required to produce a comprehensive business report for Boots, proposing their marketing principles, strategy options and assessing the marketing environments where the company operates. In doing this, you need to address four main tasks as follows:
- Task 1. Marketing Concept and Process (25%)
Explain the various elements of the marketing process adopted by Boots and evaluate the benefits and costs of a marketing orientation for a selected organisation. The marketing process includes: definitions of marketing the concept of marketing, an overview of the process of marketing and, costs and benefits of a marketing orientation for Boots.
(This provides evidence for learning outcome – 1; Assessment Criteria 1.1; 1.2)
- Task 2: Segmentation, Targeting and Positioning (25%)
Identify the macro and micro environmental factors that affect Boots and suggest how Boots can successfully segment, target and position its products to gain competitive advantage. Completion of this task should include reference to buyer behaviour and environment influences affecting the buyer.
(This provides evidence for Learning Outcome – 2; Assessment Criteria 2.1; 2.2; 2.3; 2.4; 2.5)
- Task 3: Marketing Mix (25%)
- Explain how Boots can effectively develop its marketing mix to achieve its objectives and stay competitive in the industry.
- Select one product and service of Boots and develop an extended marketing mix for both the product and the service.
- With respect to either the product or service, identify and discuss additional elements of the marketing mix. Make reference to place, price, promotion and other relevant factors in relation to the chosen product or service.
(This provides evidence for Learning Outcome – 3; Assessment Criteria 3.1; 3.2; 3.3; 3.4; 3.5)
- Task 4: Marketing mix in different contexts (25%)
- With reference to at least one product of Boots, draw up a marketing plan for two different segments of the consumer market.
- Explain, with examples (including the product chosen above), how marketing products differ from service products to a business such as Boots, and how service products may add value to marketing products.
- Discuss differences between domestic marketing and international marketing.
(This provides evidence for Learning Outcome – 4; Assessment Criteria 4.1; 4.2 & 4.3)
To address the Learning Outcomes of this unit you are required to analyse the given case study of Boots as a Marketing Consultant. Your answers should be based on case study material, your experience, research, investigation and analysis which you personally have carried out. Your answers must be prefixed with each specific Learning Outcome (the four Tasks). You should describe the principles you would adopt and thus demonstrate a clear grasp of theory, concepts and research evidence.
Learning Outcomes and Assessment Criteria
In order to pass this unit, the evidence that the learner presents for assessment needs to demonstrate that they can meet all the learning outcomes for the unit.
The assessment criteria determine the standard required to PASS this unit. The BTEC Assignment Criteria of Assessment will act as a guide to help you put into context your answers to fulfill the Learning Outcomes.
|Learning outcomes||Assessment criteria|
|LO1: Understand the concept and process of marketing||1.1 explain the various elements of the marketing process 1.2 evaluate the benefits and costs of a marketing orientation for a selected organisation|
|LO2: Be able to use the concepts of marketing principles, segmentation, targeting and positioning||2.1 show macro and micro environmental factors which influence marketing decisions 2.2 propose segmentation criteria to be used for products in different markets 2.3 choose a targeting strategy for a selected product/service 2.4 demonstrate how buyer behaviour affects marketing activities in different buying situations 2.5 propose new positioning for a selected product/ service|
|LO3: Understand the individual elements of the extended marketing mix||3.1 explain how products are developed to sustain competitive advantage 3.2 explain how distribution is arranged to provide customer convenience 3.3 explain how prices are set to reflect an organisation’s objectives and market conditions 3.4 illustrate how promotional activity is integrated to achieve marketing objectives 3.5 analyse the additional elements of the extended marketing mix|
|LO4: Be able to use the marketing mix in different contexts||4.1 plan marketing mixes for two different segments in consumer markets 4.2 illustrate differences in marketing products and services to business rather than consumers 4.3 Show how and why international marketing differs from domestic marketing.|
Boots in an easily recognisable part of United Kingdom retail scene. It has a long and trusted heritage in consumers’ eyes, having been established since 1849. It offers a very wide range of products and services through its stores, which range from health and beauty to skincare. Since the mid-1990s, Boots has faced increased competition from virtually all parts of the marketplace. It has responded by merger, takeover, re-organisation, new investment and restructuring. In October 2005, Boots announced a £7 billion merger with its rival Alliance Unichem. This deal made Alliance Boots a major global player in the distribution of pharmaceutical and healthcare products. It also gave the Boots brand a greater profile overseas, especially in continental Europe. At the time of the merger in 2005, Boots owned 1400 pharmacies in the UK, employed 68,000 staff. In contrast, Alliance Unichem had 1,200 outlets in the UK, the Netherlands, Italy, Switzerland and Norway, with 33,000 employees. The most obvious and perhaps serious threat to Boots is posed by the march of the supermarket retailers into the non-food shopping sector. There has been state support for the wider proliferation of pharmacies in the UK. The government has given encouragement to doctor services being set up out of hours. Some of the larger supermarkets now offer in-store pharmacies.
In February 2008, Sainsbury’s announced that they were plotting a new scheme to move into the pharmacy sector. Two of its Greater Manchester stores were to offer a family doctor operating out-of-hours clinics between 6.30 and 9.00 pm on Monday and Thursday and 11.00 am to 3.00 pm on Saturdays. The supermarkets are thought to be seeking to offer a new approach of organising doctors’ visits. The Sainsbury’s plan was for patients to book appointments through their normal surgery, but to attend the clinic in the supermarket. Asda has also been considering something similar.
Understand the individual elements of the extended Marketing Mix
3.1 Explain how products are developed to sustain competitive advantage.
Boots is a member of Retail Pharmacy International Division of Walgreens Boots Alliance, Inc. a retail group which deals in Pharmacy, Health & beauty. Their motive is to help people to live healthier and better lives. They have more than 2500 stores in UK providing health and beauty products. Their mission is to care for people all over the world by providing the best valued products to them.
Boots deals in variety of products and offer a diversified range of products to its customers. It is essential for every organization to create or develop the products which sustain in this highly competitive market and to have a competitive advantage. Every firm takes certain decision while developing and marketing a product. Market research should be conducted before developing a product. It tells the manufacturer about the expectations of the customer and present scenario of the market which makes it easy for the manufacturer to develop a product which satisfies the demands of the customer and have certain features which creates a competitive advantage. Competitive advantage is something which is obtained when customers are offered value for money products which means either offering the products at lower prices or providing the products at higher prices but greater value than the competitors.
There are certain ways in which Boots can develop its products to sustain competitive advantage:
- Design of the Product: The design of the product should be attractive because it is the first thing which sells the product itself. The product should be designed according to the target market. For e.g. florescent colors can be chosen for female beauty products and dark colors can be chosen for male beauty products.
- Features of the Product: The product is all about the features it contains. The product should contain the characteristics which are demanded by the ultimate consumer.
- Differentiation: It refers to providing unique features in the product which are not provided by the competitors. The features should be such which benefits the customers and create a special position for the product in the market.
- Branding: A brand is that tool which differentiates the products from its competitors. Brand positions the product in market and the loyalty and confidence of customer is attached to it. It is correct to say that brand has the power of instant sales. Once the brand is established, it boosts up the sales and creates competitive advantage to sustain in the market.
- Targeting: This means to target a specific set of customers, for which the product is designed. For e.g.: Boots develop a face wash for customers who have oily skin, then it should be targeted and marketed to the specific set of customers who have oily skin.
- Marketing and Research: Market research is must in today’s highly competitive business world. It helps the manufacturer to know about the current trends and ever changing needs and demands of the consumers. There is no sense in developing the products which are unwanted by the people. It is better to understand the current needs and develop products according to the requirements of customers. Boots should conduct regular customer surveys to understand the market requirements and should manufacture the products according to that.
Each and every decision taken regarding the development of product, decides its future in the market whether it will sustain competitive advantage or not.
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