Principle of Marketing Assignment 2 BTEC Nguyen Huu Phong 2017

Principle of Marketing Assignment 2 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

1

ASSIGNMENT 2 FRONT SHEET Qualification BTEC Level 5 HND Diploma in Business

Unit number and title Unit 4: Marketing Principles

Learner’s name Nguyễn Hữu Phong Assessor name

Learner declaration:

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

Grading grid

P2.1 P2.2 P2.3 P2.4 P2.5 M1 M2 M3 D1 D2 D3

Assignment title Marketing Analysis and Marketing Strategy

In this assignment, you will have opportunities to provide evidence against the following criteria Indicate the page numbers where the evidence can be found

Assessment criteria Expected evidence Task

no

Assessor’s Feedback

LO2 Be able to use the concepts of segmentation, targeting and positioning

2.1 show macro and micro

1

2.2 propose segmentation

criteria to be used for

products in different

- Explain what are segmentation

Propose suitable segmentation

strategies and choose a targeting

strategy that is best suited for your product in the market

3

2.4 demonstrate how buyer

behaviour affects marketing

activities in different buying

situations

Explain consumer behavior and

behavior affect to marketing activities in different situations

4

2.5 propose new positioning

for a selected product

/service

strategy and propose a new

positioning strategy for your product

5

(note on Merit/Distinction if applicable)

marketing macro and micro environment factors to the marketing activities of your product

- Identify complex organization’s marketing

situation when proposing segmentation criteria

- Identify complex organization’s marketing situation when choosing targeting strategy

- Describe your target consumer buyer behavior and demonstrate how their behavior should affect to your marketing activities

- Identify complex organization’s marketing situation when proposing a new positioning strategy for your product

methods are effectively applied to analyze the influence of the micro and macro marketing

- A wide range of information (relating to marketing environment, consumer behavior, and marketing strategy) is used

to support the arguments

with appropriate academic writing

- marketing terminologies are correctly used (for non marketing audience)

- the assignment is written with consistency and coherence

recommendations for your company to proactively response to micro and macro environmental factors

- Critically evaluate your own proposed

segmentation criteria

- Critically evaluate your chosen targeting strategy

- Propose appropriate recommendations to your company to improve its response towards consumer buying behavior

- Critically evaluate your proposed positioning strategy

research for the business, its marketing environment, its customers, has been done to provide

information for this assignment

- A primary research to understand consumer

on marketing environment, marketing strategy and consumer behavior for the organization through the assignment

- Effectively self-evaluate your own arguments and recommendations for the organization on marketing environment, buyer behavior and marketing strategy

- Innovative and creative thoughts are applied in the proposed marketing strategy for your product

Summative feedback

IV Grading Check: Comments if any:

Agree

Disagree Modify grade to

<ATTACHED EVIDENCE>

a small and medium company or a large corporation, they are pouring a lot of money on the marketing with a desire to shape the best products in the mind of client and help bring much profit

Apple - one of the largest technological corporations in the world is a good example Apple has been successful as now not only because of changing their product well and breakthroughs but they also have the proper marketing strategy to put Apple products to the consumers in the best way Founded in 1976 in a small garage in California by 3 people are Steve Wozniak, Ronald Wayne and the legend of the world of technology - Steve Jobs For more than 40 years of establishment and development, Apple from a garage has risen to become one of the technology company in the world with the most expensive brand and be priced 586 billion dollars in 2016 according to Forbes

Source: Internet

From the Apple II to make the world flutter in the 1977, and Macintosh - desire of graphic design at the time, the next is the iPod with "1000 songs in your Pocket", iPad - the best tablet that we can buy now or Macbook enthralled millions of people , and finally the iPhone - the most popular smartphone in the world with more than 1 billion were sold out Every product Apple ever brought to the world are very good products with design and features ahead of time, however beside that we can't deny the skillful of Marketing Department helping the Apple products succeeded as now

1 Marketing Environment

The business environment is divided into two types are the environment micro and macro environment These factors in micro and macro environment influence too much to marketing decisions of a business

1 Micro environment factors

There are six micro-environmental factors influence the business strategy of a business and the role of the leader in that business is to find out and analyze thoroughly to give the proper marketing strategy as well as the long term plan in the future

Employees

Employees are the ones who bring to success for a business To attract good employees, you must have the effective strategies as remuneration policy, the salary attractive, many opportunities, to attract and retain these employees in the business Apple has tens of thousands of employees around the world with the staff very good They have contributed to create a great product of Apple and help to bring in huge revenues from things they create to Apple In other words, they are the deciding factor of the success of a company

Suppliers

This is considered a very important factor in bringing the product to the consumer A business that wants to maximize the best profit they must manage the supply chain and distribution channels of themselves in an effective way Manage the product marketed, as well as the inventory of products to customers to minimize sources of losses Apple is very famous in the management of supply chains and their stores They optimize supply chain and distribution channels such as all authorized dealers, Apple Store, This helps them get

a about no small profit

Shareholders

These people will bring a business the resources to help them invest and develop their business better Instead of having to borrow the debt of the Government or of an organization with high interest rates, the investors funding resources will be of great help for business if the business convince those investors with the products, services or ideas of potential However, the receipt of these investments from shareholders will also bring some shareholders control of certain business Apple is a large corporation with many shareholders

so all their products when the market must bear the pressure of shareholders when it does not bring profit as expected With sales of several products, including the iPhone 7 do not have many breakthrough, so investors are pressuring a lot to CEO Tim Cook

Source: ABC News

Media

Media activities are also important factors that a business needs to have the right strategy to promote the business to customers The media will help the positive things of a

17

Competitors

Competitors of Apple in smart phones industry – Source: Internet

Competition is good to help the business grow better when the business must always improve their products so that customers recognize that their products are better than their competitors As many competitors, the market share of a business as being broken down but

if there is no competition, a business will grow very slowly Apple has a lot of competitors such as Microsoft, Google, Samsung and many other opponents That's why Apple must constantly improve and develop its products if they do not want to be leave and customers will buy products of competitors

2 Macro environment factors

Macro environment factors – Source: Printerest

The macro environment factors is the relationship and not closely related, closely with

a business However, the macro environmental factors as the risks, opportunities will affect businesses in a long period of time These factors influence to a business so that businesses also need to have clear and proper preparation to adapt to each case The macro environment factors include education level; cultural lifestyle, demographic factors, technological factors, political and legal forces, social and cultural forces

Education level; culture and lifestyle

These factors affect the customer's purchase decision For customers who have the education level is not high, then their needs do not require too much or culture of their lifestyle is like taking a brand and loyal to that product throughout many years For example, Apple will not sell any iPhone if that area had lower education levels and consumers do not

Technological factors

The full machinery, process technology and equipment to manufacture products in a certain place that also impact a business and marketing strategy of the business iPhone 7 are produced in factories in China because employees here are cheap and sufficient equipment

to produce the equipment If the iPhone 7 are produced in other countries, the problem of the technology environment will affect the price of products and the impact on the marketing strategy of the product

Political and legal forces

The issues related to government policies such as tax incentives or the conditions in that country Apple brought a lot of jobs in a particular country and the Government that could bring more incentives for Apple The Government affect to a business and can do for

a business marketing strategy that were difficult

Social and cultural forces

The factors of cultural, social, behavioural and values impact on marketing strategy For example, if the product does not meet a number of criteria and does not fit in with the

environment, then that product will be wiped out of the market So, for the cultural environment, Apple needs to bring real good products and meet the required conditions

2 Segmentation

According to Economictimes stated that: "Segmentation means to divide the marketplace into parts, or segments, which are definable, accessible, actionable, and profitable and have a growth potential.”

Apple has many types of products suited to the needs of each client However, with a certain product, the Apple production of it for the entire world and focus on the high-end segment Apple almost ignoring the medium segment and cheap for their products Based on

a few aspects that Apple would focus their product on those

Type of

segmentation

Segmentation criteria

Apple target segment

Devices:

iPhone, iPad, Mac, iPod

Services: iTunes

and the iTunes Store, Mac App Store, iCloud, Apple Pay,

Operating system & software: iOS, OSX, iLife, iWork

Geographic

Region US and international US and international US and international

21

Demographic Gender Males &

Females Males & Females Males & Females

Life-cycle stage

Bachelor Stage

Newly Married Couples Full Nest I Full Nest II

Bachelor Stage

Newly Married Couples

Bachelor Stage

Newly Married Couples

Income High earners High earners High earners

Occupation Professionals, managers and

executives

Students

Professionals, managers

Professionals, managers and executives

Behavioral

Degree of loyalty

‘Hard core loyals’

‘Switchers’

‘Hard core loyals’

expression Speed of service, advanced

Speed of service Efficiency

Efficiency Speed of service

features and capabilities Personality Determined and ambitious Determined and ambitious Determined and ambitious

User status Non-users, potential users

Users

Non-users, potential users

Users

Non-users, potential users

Psychographic

Social class Middle and upper classes Middle and upper classes Middle and upper classes

Lifestyle[1]

Resigned Aspirer Succeeder Explorer

Aspirer

Succeeder Explorer

Aspirer Succeeder Explorer

Apple Segmentation, Targeting and Positioning - Source: research-methodology

Geographic: Apple will market their segmentation by two elements is the region and density Of course, Apple will focus on these priority markets and demand using of technology Besides the iPhone, Apple has a lot of other products for hardware, software and services, such as iPad, iPod, iTunes, Their goal is to bring all of their products to people around the world, particularly concentrated in the populous city Apple is trying to focus resources on the Chinese market that they have reviews of attractions the most populous

23

to The table above has very clear analysis of the audience that apple bound through these factors based on their products and services We can see most of the Apple products from products to services are focused on occupation is professional with high income and stable job Because Apple just want to focus on high-end products so customer segment that the airline is headed to those age 20 with high income and professional work

Source: Slice intelligence

Behavioral: in this aspect, Apple would concentrate to the loyalty of the consumer for the product, personality as well as their status Often people who use Apple products tend to

be loyal to the product because of a few factors related to features Apple knows that their customers in ages like young energetic, often taking pictures and travel Through it, they bring a nice shooting capability, water-resistant features and increased durability for the iPhone It stimulates the renewal needs of the customers that Apple is headed

Psychographic: Apple will focus on social class and the lifestyle of the customer segment where Apple is headed Apple towards the middle class and high class Customers

who require the elegance in design as well as brand With the iPhone, Apple has 7 meet that and by appropriate marketing strategies, they have convinced many consumers

3 Targeting Strategy

According to vinalink confirmed that: "the target market is certain customer segmentation that the business towards, or in other words, the target market is the market consists of all the potential customers of a business, and that business's mission is to attract and make customer satisfaction from that market."

According to Bussines Dictionary confirmed that: "Targeting Strategy is the selection

of potential customers to whom a business wishes to sell products or services The targeting strategy involves segmenting the market, choosing which segments of the market are appropriate, and determining the products that will be offered in each segment."

Any company would also have a target market and its strategy to focus on its target market Apple is also that, they divided their target market into 5 types such as teenagers, business clients, university students, children and adults Depending on the group that Apple has the product and marketing strategies to bring products to each of its client groups

Teenagers

This is the customer group is primarily the young with many demands on the use of social networking, photography, entertainment applications with high frequency Apple will use two types of products are iPod and iPhone to focused to meet the needs of this client group It is also considered the primary target market that Apple wants to focus sharply Specifically, they have improved and upgraded the ability to photograph a lot is selfie movements in response to the youth, besides love to travel and operate under water, Apple