The purpose of this course is to develop understanding of the marketing mix. The marketing mix is comprised of the tools available to a marketer in order to optimise the return from the exchange of value with customers and consumers. It does not relate simply to the elements of a product or service - rather it identifies all the variables over which a marketer has control.
This course will examine in depth the different components of the marketing mix and will discuss the way in which these components are controlled and adjusted to make a product or service more competitive.
The course will then proceed with an analysis of each of the key variables of the mix. A product is defined and analysed in terms of a series of levels. Products, including goods and services, are classified for ease in understanding. Every product has a life cycle, and this is evaluated in terms of its importance to marketing managers. The way in which the market adopts a new product is evaluated.
Pricing strategies and tactics are considered in Section 3, including the many factors that affect the price placed on a product or service. The way in which products are made available to customers is by distribution and this is introduced as an important part of customer service. An overview of this important concept is studied in terms of the level of customer service offered, alongside the different methods of distribution.
Promotion, which covers the communication between an organisation and its target audiences, is put into context The physical surroundings in which a service is delivered or a product sold are also considered, along with the people involved in the process of ensuring customer and consumer satisfaction. These must all be brought together to provide a seamless and positive support to every transaction.
This course deals with the components of the marketing mix and looks at ways in which they can be managed to optimise return on investment.
By the end of this course you will be able to:
* identify the components of the marketing mix in the marketing of a product or service
* identify ways in which the variables of the mix can be used to the mutual benefit of the organisation and its clients
* select the appropriate marketing strategy for a product
* identify the benefits provided to the consumer by a product
* identify the characteristics of a service and use these to assess the benefits provided by a service
* use the product life cycle concept as a guide to marketing understanding
* select the appropriate marketing mix strategy for a product offering at different stages of its life cycle
* identify pricing strategies used to make products and services more attractive.
Section 1: The Marketing Mix
What is the marketing mix?
Variables of the marketing mix
Strategy and tactics
Market selection strategies
Section 2: Products and Services
What is a product?
Types of products
Characteristics of services
Section 3: Product Mix
What is a product mix?
Product life cycle and strategies
Price/promotion strategies for a new product
Diffusion of innovation
Section 4: Pricing
Factors affecting price
Section 5: Distribution
Costs of distribution
Section 6: Promotion
The promotional tools
Section 7: Physical Evidence, Participants and Process
Physical evidence, personnel and process
Tutor-marked Question Paper
On completion of your course, you will receive two certificates:
Certificate 1 is issued by Stonebridge Associated Colleges: Marketing Mix (Byte Size Skills Course) Certificate
Marketing Mix (Byte Size Skills Course) Certificate issued by Stonebridge Associated Colleges, to view a sample of the college’s award, please click here.
Certificate 2 is issued by ABC Awards: Level 1 Marketing Mix (Byte Size Skills Course) Certificate of Achievement
At the end of this course successful learners will receive a Certificate of Achievement by ABC Awards and a Learner Unit Summary (which lists the details of all the units you have completed as part of your course).
The course has been endorsed under the ABC Awards’ Quality Licence Scheme. This means that Stonebridge Associated Colleges have undergone an external quality check to ensure that the organisation and the courses it offers, meet certain quality criteria. The completion of this course alone does not lead to an Ofqual regulated qualification but may be used as evidence of knowledge and skills towards regulated qualifications in the future. The unit summary can be used as evidence towards Recognition of Prior Learning if you wish to progress your studies in this sector. To this end the learning outcomes of the course have been benchmarked at Level 1 against level descriptors published by Ofqual, to indicate the depth of study and level of difficulty involved in successful completion by the learner.
The course itself has been designed by Stonebridge Associated Colleges to meet specific learners’ or employers’ requirements. ABC Awards’ endorsement involves a robust and rigorous quality audit by external inspectors to ensure quality is consistently met. A regular review of courses is carried out as part of the endorsement process.
Who are ABC
ABC Awards is a leading national Awarding Organisation, regulated by Ofqual, and the Welsh Government. They have a comprehensive portfolio of over 650 Ofqual regulated qualifications on the national Qualifications and Credit framework (QCF). It has a long-established reputation for developing and awarding high quality vocational qualifications across a wide range of industries. As a registered charity, ABC Awards combines 180 years of examination and assessment expertise but also implements a responsive, flexible and innovative approach to the needs of our customers.
Renowned for excellent customer service, and quality standards, ABC Awards also offers over 600 Ofqual regulated qualifications for all ages and abilities post-14; all are developed with the support of relevant stakeholders to ensure that they meet the needs and standards of employers across the UK.
With this course you will have unlimited access to your own personal tutor who specialises in their field of study. It is your personal tutor's role to ensure that you receive constructive feedback and to deal with any queries you may have. You are more than welcome to telephone, fax or email your personal tutor.
You will also have access to a dedicated and friendly team of administrators and course advisors who offer sound and professional guidance and advice when you need it. This ensures that you will never feel neglected and that you will always succeed!
Requirements for Entry
There is no experience or previous qualifications required for enrolment on this course. It is available to all students, of all academic backgrounds.
This is only an approximate figure and is dependant upon how much time you can dedicate to your studies and how well you grasp the learning concepts in the course material. Furthermore, at the end of each lesson there is a question paper that needs to be completed and returned to your tutor. You should allow at least 1 - 2 hours of study to complete each question paper.
The approximate amount of time required to complete the course is: 20 hrs.
After each lesson there will be a question paper, which needs to be completed and submitted to your personal tutor for marking. This method of continual assessment ensures that your personal tutor can consistently monitor your progress and provide you with assistance throughout the duration of the course.
* All study materials
* Study Guide
* Full Tutor and Admin support