Unit 2 Marketing Essentials Assignment Help

Assignment brief (RQF) - Higher National Certificate/Diploma in Business

Unit Number/Title: Unit 2 Marketing Essentials Assignment - Regent College London, UK

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Purpose - The main purpose of this assignment is to provide learners with background knowledge and understanding of Marketing, the role of marketing in which organisations operates. Learners will compare ways in which organisations use elements of the marketing mix (7ps) to achieve overall business objectives. You will be given an opportunity to develop and evaluate a basic marketing plan.

Learning outcomes:

LO 1 - Explain the role of marketing and how it interrelates with other functional units of an organisation.

Answer: Marketing functions as the bridge between an organization and its customers, ensuring the creation and delivery of products or services that resonate with market needs. It encompasses market research, product development, pricing strategies, promotion, and distribution channels. Marketing interrelates with other functional units as it provides the foundation for sales (identifying target markets), operations (informing production requirements), finance (budgeting for marketing activities), and human resources (staffing marketing roles). By aligning with these functions, marketing contributes to the overall strategic goals of the organization.

LO 2 - Compare ways in which organisations use elements of the marketing mix (7Ps) to achieve overall business objectives.

Answer: Organizations use the 7Ps of marketing mix to achieve business objectives in various ways. For example, a luxury brand might focus on premium pricing, exclusive distribution channels, and personalized customer service to position itself as high-end. In contrast, a budget airline might prioritize low prices, efficient processes, and a strong online presence to attract price-sensitive customers. A tech startup might emphasize innovative product features, aggressive marketing campaigns, and strategic partnerships to disrupt the market. Ultimately, the effective utilization of the 7Ps allows organizations to tailor their marketing strategies to specific target markets and business goals.

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LO 3 - Develop and evaluate a basic marketing plan.

Answer: A basic marketing plan outlines an organization's marketing strategy to achieve specific objectives. It typically includes a market analysis assessing target customers, competitors, and industry trends. The marketing objectives are then defined, such as increasing market share or brand awareness. To achieve these objectives, a marketing strategy is developed, which may involve various tactics like advertising, public relations, sales promotions, and digital marketing. The marketing budget allocates resources to these tactics, and a marketing calendar establishes timelines for implementation. Regular evaluation of the plan's performance against key performance indicators (KPIs) helps identify areas for improvement and ensures the strategy remains aligned with the organization's overall goals.

Scenario - The marketing world is becoming more and more focused in directly connecting with consumer and making the marketing experience more personal. Consumer marketing managers lead teams of marketing agents through the successful implementation of a marketing campaign creating value for customers in order to capture value from customers in return. Today's marketers must be good at creating customer value and managing customer relationships.

Outstanding marketing companies understand the marketplace and customer needs, design value-creating marketing strategies, develop integrated marketing programs that deliver customer value and delight, and build strong customer relationships. In return, they capture value from customers in the form of sales, profits, and customer loyalty.

As a newly appointed assistant to the Marketing Manager, you are required to carry out a detailed marketing analysis of one of the following companies or a company of your choice:

1. ASOS PLC (British online fashion and cosmetic retailer)

2. eBay Inc (American multinational e-commerce corporation based in California)

3. Bentley Motors Limited (British manufacturer and marketer of Luxury cars)

4. Monzo (Digital, mobile only bank based in the United Kingdom)

5. Easyhotel PLC (International super budget hotel chain head quartered in London)

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Part 1 -

Using the scenario and acting as a newly appointed assistant to a Marketing Manager for the chosen organisation, you are required to prepare a report in a word format. You are required to carry out an extensive research by using various supportive business case studies, materials such as the magazine, text books, websites, journals, newspapers, lecture materials, and other relevant resources. (Approx: 1200 words).

Part 2 -

Continue your report; using the scenario and acting as a newly appointed assistant to a Marketing Manager for the chosen organisation, you are required to continue your report in a word format. You are required to carry out an extensive research by using various supportive business case studies, materials such as the magazine, text books, websites, journals, newspapers, lecture materials, and other relevant resources. (Approx: 1000 words).

Part 3 -

Continue your report; using the scenario and acting as a newly appointed assistant to a Marketing Manager for the chosen organisation, you are required to develop and evaluate a marketing plan supported with coherent evidence and continue your report in a word format.

The 6 Step Marketing Plan

1. Situation (SWOT)

2. Objectives

3. Strategy

4. Action plan

5. Forecasts

6. Control

You are required to carry out an extensive research by using various supportive business case studies, materials such as the magazine, text books, websites, journals, newspapers, lecture materials, and other relevant resources (Approx: 1400 words).

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Assessment - The businesses listed in the scenario are optional conversely you can pick an organisation of your choice.

Q1. Define marketing function.

Q2. Using specific examples relating to your chosen organisation explain the roles and responsibilities of the marketing function.

Q3. Include at least 2/3 examples.

Q4. Explain how the marketing department works with other departments/functional areas.

Q5. Use 2/3 examples.

Q6. Define/ explain what the marketing mix is.

Q7. Clearly state business objectives (business from task 1) then find another business that has similar objectives.

Q8. Explain how business one uses marketing mix to achieve the business objective you have stated and compare to how business two uses the marketing mix to achieve the same or similar business objective.

Q9. When comparing you must use conjunctive adverbs these are transitional words: common conjunctive adverbs include for instance, moreover, for example, however, on the other hand, conversely etc.

Marking Plan Outlines -

1. Executive summary

2. Objectives

3. STP (segmentation, targeting and positioning)

4. These are just suggestions and your plan is not limited to an STP.

5. Carry out a SWOT analysis based on YOUR MARKETING PLAN.

6. When evaluating you must refer back to your SWOT and comment on the suitability of your marketing plan for your chosen organisation.

7. You must evaluate.

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