Effect of buying behavior in the marketing activities

Unit 2 Marketing Principles – British SME

Level 5

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Task 1:

Question 1 Various elements of the marketing process that British SME adopts

Question 2 Identification of the winning orientation during internationalization and evaluation of cost and benefit to adopting those orientations

Question 3 Micro and macro environmental factors that influence marketing decision

Question 4 Reason and the way by which international marketing differs from the domestic marketing

Question 5 Explanation of how products can be developed to sustain competitive advantage

Question 6 Explanation of how distribution needs to be arranged by British SME

Question 7 Setting of price to reflect the market condition and objective of organization

Question 8 Promotional activities that British SME can be integrated to achieve the marketing objective

Question 9 Additional elements of the marketing mix

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Task 2:

Question 1 Segmentation criteria of Tesco

Question 2 Identification of targeting strategy and select a targeting strategy for Tesco for a selected product

Question 3 Effect of buying behavior in the marketing activities

Question 4 Positioning strategy for selected product

Question 5 Marketing mix for two different segments of Tesco

Question 7 Differences in marketing products and services for the businesses contrast to customers

Unit 2 of your Level 5 Diploma in Business takes you on a deep dive into the world of marketing principles for British SMEs (Small and Medium Enterprises). Here, you'll equip yourself with the tools and knowledge to create effective marketing strategies tailored to this unique business landscape.

One key focus is the marketing mix: the 7Ps (Product, Price, Place, Promotion, People, Process, and Physical Evidence) and how they interact to shape customer perception. You'll learn how SMEs can leverage these elements to stand out in a competitive market, considering factors like budget constraints and agility.

Understanding the SME customer is crucial. You'll analyze their buying behaviors, motivations, and decision-making processes, learning how to target and engage them effectively. This includes exploring the impact of digital marketing and social media on reaching SME customers.

But marketing doesn't exist in a vacuum. You'll delve into the competitive landscape of the British SME market, analyzing strategies of both direct and indirect competitors. This will equip you to identify opportunities and develop unique selling propositions for your SME.

Finally, you'll explore the legal and ethical considerations specific to SME marketing. This includes understanding data protection regulations, advertising codes, and the importance of responsible marketing practices.

By the end of Unit 2, you'll be equipped with a comprehensive understanding of marketing principles for British SMEs. You'll be able to develop targeted marketing strategies, analyze the competitive landscape, and navigate the legal and ethical framework. This knowledge will be invaluable for any aspiring marketing professional working within the dynamic world of British SMEs.

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