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Unit 4: Marketing Principles - QCF level 4
Credit value: 15 credits
Unit Aim
This unit aims to provide learners with understanding and skills relating to the fundamental concepts and principles that underpin the marketing process.
Unit abstract
This is a broad-based unit which gives learners the opportunity apply the key principles of marketing.
Firstly, the unit looks at the definitions of marketing, and what is meant by a marketing orientation and the marketing process.
Next, learners consider the use of environmental analysis in marketing and carry out their own analyses at both macro and micro levels. They will also investigate the importance of market segmentation and how this leads to the identification and full specification of target groups. Learners then consider buyer behaviour and positioning.
The unit looks at the main elements of both the original and the extended marketing mix. This includes an introduction to the concept of the product life cycle, new product development, pricing strategies, distribution options and the promotion mix.
Finally, learners will develop their own marketing mixes to meet the needs of different target groups. This includes considering the differences when marketing services as opposed to goods. A range of other contexts is examined including marketing to businesses instead of consumers and the development of international markets.
Learning outcomes
On successful completion of this unit a learner will:
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.
