Principle of Marketing Assignment 1 BTEC Nguyen Huu Phong 2017

Principle of Marketing Assignment 1 BTEC Nguyen Huu Phong 2017 tại University of Greenwich Viet Nam, đây là một trong những môn rất quan trọng và cần thiết cho những người muốn theo nghành businness cụ thể là human resource management như mình. Bài assignment này được mình làm tại trường. Các bạn có thể xem và tham khảo nhưng lư

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ASSIGNMENT 1 FRONT SHEET

Qualification BTEC Level 5 HND Diploma in Business

Unit number and title Unit 4: Principles of Marketing

Learner declaration:

I certify that the work submitted for this assignment is my own and research sources are fully acknowledged

Grading grid

P1.1 P1.2 M1 M2 M3 D1 D2 D3

Assignment title The concept and process of marketing

In this assignment, you will have opportunities to provide evidence against the following criteria

Indicate the page numbers where the evidence can be found

no

Assessor’s Feedback

LO1 Understand the concept and process of marketing

1.1 explain the various

elements of the marketing

process

Explain the marketing process and key elements in the marketing process which should include but not limited by:

1

1.2 evaluate the benefits

and costs of a marketing

orientation for a selected

organisation

Explain marketing orientations

orientation followed by your

benefits and costs of your

2

3

Merit descriptor No.1 (M1):

Identify and apply strategies to

find appropriate solution

- Illustrate the marketing process with suitable examples from your organization

- Effectively evaluate whether the currently followed marketing orientation is appropriate

to your company Merit descriptor No.3 (M3):

Select/design and apply

appropriate methods/techniques

In particular, you must present:

applied

- A wide range of resources

of information relating to

marketing orientation has been effectively used to support your argument

Merit descriptor No.3 (M3):

Present and communicate

appropriate findings:

- Clear assignment structure with appropriate level of academic English writing

- A range of methods of presentation have been used effectively

- Marketing terminologies are accurately used and explained for non- marketing background audience

- The assignment is written with coherence and

consistence

Distinction descriptor No.1 (D1):

Use critical reflection to evaluate

own work and justify valid

conclusion:

- Propose recommendations for your organization to improve its marketing process

- Provide appropriate solutions for the organization regarding to the costs and benefits of its marketing orientation Distinction descriptor No.2 (D2):

Take responsibility for managing

and organizing activities

- An appropriate range of research on the

organization marketing process and marketing

marketing process and marketing orientation

- Innovative and creative thinking have been applied

to present your ideas and appropriate

recommendations for the organization’s marketing process and marketing orientation

Summative feedback

IV Grading Check: Comments if any:

Agree

Disagree Modify grade to

<ATTACHED EVIDENCE>

Contents

Introduction ……… 9

Part 1: The Marketing Process ………11

Step 1: Understand Market Place and consumer needs and wants ……… 11

Step 2: Design a customer – driven marketing strategy ……… 13

Step 3: Construct an integrated marketing program that deliver superior value … 15

Step 4: Build profitable relationships and create customer delight ……… 19

Step 5: Capture value from customers to create profits and customer equity …… 21

Part 2: The Marketing Orientation ……… 22

References ……… 27

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The world is growing rapidly every second, every minute In just a short time with the conservative old ways, the whirlwind of growth can kill a business even though it has the big strength Understand that, not just the business world in general but also the business in Vietnam in particular, required to change and choose the correct direction to keep a foothold

in the market and expand the scale

As a leading enterprise in the production of shoes in Vietnam, in more than 33 years

of establishment and development, through numerous ups and downs, Binh Tien limited liability company producing consumer goods, also known by the familiar and trusted name

in the hearts of consumers in Vietnam is Biti's Going through a difficult period in the economy, Biti's has changed itself constantly, making new steps to beyond the core areas and achieved a lot of success It is a typical example, if conservatives continue unchanged,

do not look for new steps, not innovative and beyond the enterprise itself will be pushed backwards in an era of rapidly growing speed

Biti’s is a business is considered to be the oldest history of Vietnam in the footwear industry Was established in 1982 with two combinations of production is Van Thanh and Binh Tien, along with 20 workers specializing in simple rubber shoes Under the leadership

of Mr Vuon Khai Thanh and Mrs Lai Khiem, Biti's was going in the right direction and become a solid brand in the shoe industry not only in Vietnam but also in the countries in the region, especially in the Chinese market, a market that the majority of enterprises in Vietnam are abandoning the lane

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Biti's currently has a product distribution system stretching from North to South with

07 branch Centre, 68 marketing Shop and more than 1,500 retail distribution intermediaries, have created stable jobs for the more than 9,000 employees, with annual production of over

20 million pairs In China, Biti's has established 4 representative offices, more than 300 points of sale in order to gradually bring Biti's products to dominate this market Biti's has exported over 40 countries of the world such as Italy, France, uk, USA, Russia, Japan, South America, Mexican, Cambodia, In addition, Biti's is also the outsourcing partner of the international famous brand as Decathlon, Clarks, Skechers, Speedo, Lotto,

Part 1: The Marketing Process

What is Marketing?

These factors directly to customers such as packaging, ads on the media, creating a reputation for the brand, The people who work in the field of marketing to create because the main goal is to distribute, sell the product and delivering it to the customer All that is known is the Marketing Basic Marketing process is shown in a visual manner according to the diagram below

Source: Principles of Marketing (2012) – Kotler and Armstrong

Step 1: Understand Market Place and consumer needs and wants

What is the Market Place? Market Place is understood as a place for customers to purchase products directly, or can also be the place where the actual products to customers to experience and direct contact with the product Shops, supermarkets are examples what is Market Place Market Place extension means there are many shops for customers to conveniently exposed and easily buy directly product That is why Biti's has

68 stores and more than 1,500 marketing intermediaries retail distribution in Vietnam only It also is part of Biti's access to the majority of consumers

Biti’s Store – Source: Internet

According to Cotler (2012) stated that:"Market offerings are some combination of products, services, information, or experiences offered to a market to satisfy a need or want." A product to a customer's hands need to accompany a variety of factors such as product information, the service comes after the purchase as a warranty, paid constant support, commitment to quality transporting a most convenient way to get customers Steve Jobs once said that: "We do not sell products to customers, we sell a great experience." Gives customers a great product is not enough, brings satisfaction and happiness to customers that is the objective that every business should aspire to

In a way easy to understand is like this, consumers needs and consumers want are two completely different things because it is two different ranks For consumers need is the basics that need to be brought to consumers, they need the things necessary for life and survival such as clothing, food, According to Kotler and Armstrong (2012), it was

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plate of pasta to meet demand every day then that is what he needs because it's necessary for life However, for him, then he would like a big pasta accompanied by eggs, meat and prepared to bring the delicious feeling as well as decorated beautifully, and it is these higher condition that consumers want to be bring a sense of satisfaction and comfort Return to Biti's in a different example, if the Biti's customer previously just a durable pair of shoes to go everyday in life, it is what their customers need and select Biti's However, the era of development as well as the lives of each person improve the customer requires the products of Biti's external quality must also have more variety of designs, trendy designs That's what customers want advanced to Biti's

Step 2: Design a customer – driven marketing strategy

2.1 Marketing management

According to Philip Kotler, “Marketing management is the analysis, planning, implementation and control of programmes designed to bring about desired exchanges with target markets for the purpose of achieving organisational objectives." Due to the increasing competition should improve and optimize the distribution process to help reduce production costs to increase profits but still keep the price competitive with rivals Marketing management gradually became one of the most important parts

of a business and in business To do that, a business needs to answer two important questions: "What customers will we serve?" or also out in another way: "What’s our target market?" and "How can we serve these customers best?"

2.2 Selecting customer to serve

A company must know what the customer object they will serve Of course, the leaders of companies know that they will not be served up all kinds of customers because they make sure that they cannot serve all people Instead, each company will focus on a certain customer objects to do the best To answer that question, people who do Marketing management divide their clients into groups called Market

Segmentation, we can understand Market Segmentation that divide the market into many parts then select the part that you have the ability to serve and best exploit From

that they determined what the company's target market is and what the focus of attraction and how satisfied the customers from that market, bring the best things for the target market that they determine to be in the market segment And we can

understand the Target Market is certain customer segment that the business towards,

or in other words, the target market is the market consists of all the potential customers

of the business Then, they will analysis to find out the appropriate customer objects with their business For example, Zalo established in 2012 and the market segmentation which they shaped right from the beginning was focused on the business objects, the business, the retailer to become a social network for the trade, which is why we see zalo not strong focus on web platforms that focus only on mobile applications, as well as creating the most favorable conditions for those who do business to advertise on Zalo That is a segment that Zalo towards

Source: Internet

That is more easily seen than in Biti's, segmentation of Biti's focus strongly on customers who have intensity high shoes in the gym and go back every day, especially the children, active students To gain market share there, Biti's become the top choice because of durability, factors helped Biti's always stood for 33 years Besides selected market segments right, every business need serving clients in the best way because

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and after purchasing the product I have bought shoes of Biti's, it was a small error by the manufacturer inside the shoes, I wear one week during error detection and I brought Biti's warranty With all devotion, Biti's has made me feel very happy and changed the new shoes One thing is for sure, I will always choose Biti's and they had

a potential customer

2.3 Choosing a value proposition

A company must choose a value proposition as a commitment to customers,

their thoughts when mentioning the company's brand It will differentiate and

position itself in the market place

Businesses need to create for clients feel that they get "use value" than the cost that they put out Meanwhile, clients will not care much to price and businesses can plan to higher prices for its products Apple is a good example for this concept, the Apple product is not only good but also brings to the luxury, a superficial appreciation when customers use their product and of course the price of Apple products For Biti's, the slogan "cherish feet Vietnam" are people feel over the product, the cared for each product as well as the quality and enduring product, creating peace of mind for customers when using product

Step 3: Construct an integrated marketing program that deliver superior value

Source: Principles of Marketing (2012) – Kotler and Armstrong

Marketing-mix is understood to be the set of these Marketing methods can control such as product, price, place, promotion, that the combined business used to create the response required in the target market to achieve Marketing objectives

Product is the combination "products and services" that business devoted to the target

markets include: quality, features, variety, brand, packaging, size (size), design, warranty, For instance, Samsung Galaxy S7 is a product that samsung used to toward the senior market, so it come to these advanced features, the groundbreaking designs, top brand, packaged in a classy way, good customer support services and warranty packages

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Place includes various activities of the business to bring products to consumers that

businesses want to reach, such as determining the distribution channel, selection of intermediaries, inventory, shipping, storage The types of Biti's footwear distributed through two payment methods is to buy products directly at the store or order online Thereby diversity in the distribution of Biti's products to the customer Besides, Biti's also had to choose the trusted intermediaries to ensure reasonable prices for the products Reserve quantities sufficient supply to customer demand

Promotion means the communication activities of the value of products and convince

customers of target market to buy products Promotion includes the activities of advertising, direct sale, promotion, public relations Oppo is a smartphone manufacturer

in China but when set foot in Vietnam market, Oppo has made reasonable and strongly promotion progress Specifically Oppo brings a strong focus on advertising the selfie possibility that are very popular in the young Besides Oppo also invited the most famous singers in Vietnam to represent the product In addition, the product also comes a lot of incentives and promotions combined with strong communication on popular channels in Vietnam All of that has brought many customers to Oppo