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Principle of Marketing Assignment 3 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
ASSIGNMENT FRONT SHEET Qualification BTEC Level HND Diploma in Business Unit number and title Unit 4: Marketing Principles Assignment due Learner’s name Nguyễn Hữu Phong Assignment submitted 21/12/2016 Assessor name Nguyễn Quốc Cường Learner declaration: I certify that the work submitted for this assignment is my own and research sources are fully acknowledged Learner signature Date 21/12/2016 Grading grid P3.1 P3.2 P3.3 P3.4 P3.5 P4.1 P4.2 Assignment title P4.3 M1 M2 M3 D1 D2 D3 Marketing Program Proposal 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 LO Understand individual elements of the extended marketing mix 3.1 explain how products are developed to sustain competitive advantage Explain what is product and explain how product is developed to sustain company’s competitive advantages 1.1 3.2 explain how distribution is arranged to provide customer convenience Explain distribution and explain how the distribution strategy is arranged to provide customer convenience 1.2 3.3 explain how prices are set to reflect an organisation’s objectives and market conditions Explain what pricing strategy is and how pricing strategy reflect the company’s objectives and market conditions 1.3 3.4 illustrate how promotional activity is integrated to achieve marketing objectives Explain what is promotion and illustrate how promotional activities help the product to achieve the company’s marketing communication objectives 3.5 analyse the additional elements of the extended marketing mix explain the additional elements of the extended marketing mix including: People, process and physical evidence 1.4 LO4 Be able to use the marketing mix in different contexts 4.1 plan marketing mixes for two different segments in consumer markets 4.2 illustrate differences in marketing products and services to businesses rather than consumers Identify different consumer market segments for your product and plan your marketing mixes (4Ps) for these consumer market segments 3.1 Illustrate differences in marketing products and services to businesses rather than consumers 3.2 4.3 show how and why international marketing differs from domestic marketing Assessment criteria Merit descriptor No.1 (M1) Show the differences between the product’s international marketing activities and domestic marketing activities Expected Evidence 3.3 Feedback (note on Merit/Distinction if applicable) - Explain how your product is developed to sustain your company’s competitive advantages - Describe your product’s distribution strategy Effectively evaluate how your product distribution strategy provides customer convenience - Explain your product’s current pricing strategies Evaluate how your product’s pricing strategy reflect the company’s objectives and market conditions - Describe current promotional activities of your product Evaluate how these activities help your company to achieve its marketing communication objectives - Illustrate the additional elements of the extended marketing mix with examples from your company’s customer service - Consider company’s complex marketing situation (consumer characteristics, competitors, company’s competitive advantages,…) when choosing segments and proposing the marketing mixes - Illustrate differences with examples from marketing your product to business and consumer markets - Illustrate the differences with appropriate examples from your company Merit descriptor No.2 (M2) - Relevant marketing theories and techniques have been effectively applied analyze the marketing mixes ( product, price, place, promotion) - Relevant marketing theories and techniques have been applied to plan marketing mixes for your product in different consumer segments - Relevant marketing theories and techniques have been applied to analyze marketing activities in business and international market - A wide range of information related to the company’s marketing mixes, the consumer market, the business market and the international market is effectively used in the assignment Merit descriptor No.3 (M3) Distinction descriptor No.1 (D1) - clear assignment structure with appropriate academic writing - marketing terminologies are correctly used (for non marketing audience) - the assignment is written with consistency and coherence - Propose suitable solutions for your company on to improve its product development - Propose suitable solutions for your company to improve distribution strategy for your product - Propose suitable solutions for your company to improve its pricing strategy - Propose appropriate solutions to improve your product’s promotional activities - Propose appropriate solutions for your company to improve its customer service’s people, process and physical evidence - Critically evaluate your own proposed marketing mixes - Propose appropriate solutions for your company to improve its marketing the product to business market - Propose appropriate solutions for your organization to improve its marketing activities for your product in international market(s) Distinction descriptor No.2 (D2) - A wide and quality research on the company, its marketing situation its customers has been done to provide information for your arguments - A range of evidence for the company’s product’s marketing activities is collected to support the assignments - Sources of information used are correctly cited Distinction descriptor No.3 (D3) - Generate your own ideas on the marketing mixes, the consumer market, the business market and the international market though the assignment - Effectively self-evaluate your own arguments and recommendations for the organization on marketing mixes in different consumer market segment, business market and international market - Innovative and creative thoughts are applied in the proposed marketing mixes plan for your product in different consumer market segment Summative feedback ` Assessor’s Signature IV Grading Check: Date Comments if any: Agree Disagree IV Signature Modify grade to Date 10 products to its product diversity with other advanced technologies For example, the electronic car is growing secretly electric cars or smart glass Although all are just rumors because Apple always keeps their information secretly but certainly one thing Apple is cherished a new product for the future to continue to maintain the leading position in the field of technology For Apple, the iPhone will always be the product leader nearly a decade, they are still based on it However, the improvements on the iPhone always best for users to people all over the world have used the iPhone and the Apple iPhone help is always a benchmark in the world of Smartphone Source: Internet iPhone has just released are considered products of Apple in 2016 and Apple are still based very much on this new generation of the iPhone iPhone is always a guest would expect product and is widely spoken That is why Apple has always wanted to bring these new features for the iPhone generation up on this iPhone is upgrade very much on camera to meet the needs of more and more photography and this is the most significant upgrade of Apple on the iPhone The changes though differ significantly but in recent years, the Apple product is still boring If Apple want to continue retaining the user, they must have the change the merited 16 for their product lines For example, the latest generation iPhone to be equipped with fingerprint recognition technology under the screen or curved screen and no border Improve the current inconvenient thing and listen to the share of more clients 1.2 Distribution or Place 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 Apple distribute their products through many channels of distribution such to help users more convenient when there is demand for the product Besides, many promotional strategies or payment form variety of distributors also facilitates customers have the opportunity to experience the product Source: Internet Apple distributed their products through places such as Apple Stores, Online Apple Store and App Store, Authorized retailers, Telecom companies, Fulfillment services Apple Stores are the most visible places that sell the company’s products The online Apple Store and App Store are also highly visible However, these stores are not the only places in the firm’s marketing mix For instance, Apple also uses authorized retailers, such as Walmart, Target and Best Buy The company also includes telecom companies like AT&T, Verizon, and Sprint, which sell iPhone units In addition, Apple uses fulfillment services from companies like Amazon.com and eBay, through which third parties sell Apple products 17 online Thus, Apple’s marketing mix is comprehensive in exploiting different types of online and non-online distribution channels For example, Apple product for distribution network to reach customers At that time, customers will need only minimal upfront to own and will pay monthly installments under contract This strategy is very suitable for growing markets like Vietnam when that demand for Apple products that incomes are limited Apple can link operators to apply this distribution strategy iPhone and Plus is also being distributed through the channels on the Apple Store and the Apple authorized resellers Apple's supply chain has always done well and iPhone and 7Plus always enough goods to meet the needs of customers As usual in the Apple product launches, on opening day iPhone sales people always have a huge amount to purchase and this can be a disaster if Apple does not regulate better their distribution channels Despite the huge amount of buyers, but due to a variety of distribution channels and different forms should buy iPhone is always to hand each person whenever they need 1.3: Price Price is the amount that the customers have to spend to get the product Prices must correspond to the value of items, otherwise the buyer will be looking to buy the other manufacturers Apple always uses a premium pricing strategy in all of Apple products In this component of the marketing mix, the emphasis is on how prices represent the company and its products, while meeting consumer expectations The premium pricing strategy involves relatively high prices This pricing strategy helps maintain the high-end image of the company and its products Another effect of this pricing strategy is that Apple products attract a smaller market share composed of people from the middle and upper classes Nonetheless, the company maintains profitability because premium prices entail higher profit margins Apple’s marketing mix is aligned to the company’s premium product development strategy We can see it through these prices of Apple product such as its current iPhone is 6s and 6s plus which are priced at $649 and $749 respectively, iPhone and plus are priced at $549 and $649, iPhone is at $499, its current iPad is iPad pro which starts with $799 for 32GB and goes to $1079 for 128GB, iPad air is priced at $629 to $829, iPad 18 air is at $579, iPad mini4 is at $529 to $729, iMac starts with price tag of $1099 to $1499, Macbook is at $1599, Macbook pro is at $1299 to $1799 Macbook air is at $1099 All of them are over 500$ and it is really expensive to the majority of people Although the price of Apple products is very high because Apple always like to keep their products at a high level However, the price of Apple also makes consumers feel disappointed For example, for Apple's high-end products such as the iPhone, Apple always keep the capacity of 16GB - 64GB - 128GB, due to high demand for the 16 GB should not meet but customers need a capacity of 32 GB, Apple pressed users go buy a 64 GB with higher price 100USD Apple should have the better price strategy in its products, not just the iPhone, but also other products This, need to be changed if Apple want to attract more clients in the future Source: Apple.com iPhone and Plus also not beyond Apple's pricing strategy when starting with price $649 and $749 Apple's products always have prices quite high in comparison with other products because their products are always oriented is the superior product However, through many different payment from distributors and operators people can still own the product via the form as installment contracts, The price of Apple products always comes that is quality and service are very good in the long run 19 1.4 Promotion 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 Apple’s promotion includes activities that emphasize the premium image and quality of the firm’s products The promotional or marketing communications mix supports business position in reaching more target buyers Apple is promoting its products through a variety of factors such as Advertising, Personal Selling, Sales Promotion, Public Relations It includes advertising through the company’s website and Apple Stores, as well as advertising through other firms, such as technology news sites The company also uses personal selling in the form of Apple Store employees who provide product-specific information in the aim of convincing store visitors to make a purchase In addition, the company’s marketing mix involves sales promotion, which usually happens at the Apple Stores For example, some Apple Stores offer old models at discounted prices when bundled with larger and more expensive products Moreover, the company uses public relations to optimize its corporate image For instance, Apple Events, leaks of new product features, press releases, and exclusive interviews are carefully implemented to maximize positive publicity Apple has mastered the promotion component of its marketing mix 20 Source: Internet Phone of Apple is used many different promotion strategies They coordinate with the home network, the distributor promote the iPhone wide everywhere so everyone knows to products Then, Apple launched the rumors so people feel curious and interested in the product Apple finally organized a huge event to unveil products, help meet the expectations of the people for a long time Apple always so throughout the years and is helping Apple be known iPhone when introduced was focused very heavily on the ability to photograph, so the product advertising should always focus on the Camera and the ability to shoot Besides, Apple also has always geared its products fashion style, the style when using the iPhone The above helped advance new product is the iPhone and Plus many customers choose 21 The extended marketing mix In addition to factors: Price, Product, Promotion and Place Today the Marketing Mix increasingly includes several other Ps like People, process and physical evidence, elements are treated as the expandable elements of the Marketing Mix People People are an essential ingredient in service provision; recruiting and training the right staff is required to create a competitive advantage Customers make judgments about service provision and delivery based on the people representing your organisation The core strength of a company is the people, the employees of a company is the soul of that company Apple too, the staff and people's why Apple is one of the most innovative companies in the world Apple has a staff recruitment processes and corporate culture that make up the wonderful and loyal employees Apple has the best corporate executives such as Tim Cook (CEO), Jeff Williams (COO), Phil Schiller (Mayor), Jonathan Ive (design), And thousands of other skilled employees are helping Apple change the world, bringing the best products to everyone They are the face of your company and the way people see on Apple Because of these things that Apple must pay a lot of money and stocks to keep their feet as well as attracting more skilled people Process The systems and processes of the organization affect the execution of the service Apple is known for its process and operations They have many factories across the world and a very systematic process for all the products and services They are known for their simplicity and as they say simplicity is the ultimate sophistication Their process is seen from their website architecture to their products GUI The simplicity of everything Apple is exactly what helped Apple to differ from the rest The processes, products or anything Apple's simple design also for the convenience and easily to clients as well as ensuring the consistency of all products Physical evidence Physical evidence comprises of the elements which are incorporated into a service to to make it tangible and somewhat measurable The Company has a good packaging strategy which makes the product look attractive and stylish on the shelf The company has Apple Care service to resolve the problems and services offered by the company, geniuses’ bars to meet the direct 22 customers and teaching them to make better users Everything we feel when using Apple products or step into an Apple Store that is a difference Each Apple Store are designed according to the typical culture in that place but retains the elegance and simplicity of the Apple Besides, the experience of Apple products is also enhanced through the layout of the product in a modern way The Apple products are packed and giving customers a great feeling when they open box products Market Development 3.1 The Consumer Market Consumer market refers to a market where in the seller sells the product for a primary reason of making profits while buyer buys the products for personal use Apple brought their products to focus on two types of different market segment The distinction of the two markets is increasingly more visible when Apple announced the iPhone and Plus and most recently the distinction more clear than in the two latest generation iPhone is iPhone and Plus Apple iPhone products oriented to types of segmentation is to bigger screen lovers and those who like the compact The following table distinguishes clearly two segments that Apple user orientation and direction of their products to customers suitable also as mixed marketing plan that Apple used Product Bigger screen lovers Compact lovers iPhone Plus Size: 158,2 x 77,9 x 7,3 mm Screen size: 5.5 inch Weight: 188g iPhone Size: 138,3 x 67,1 x 7,1 mm Screen size: 4.7 inch Weight: 138g 23 Price Here is a sample of the iPhone screen size is large and requires two hands to manipulate The large screen also brings many benefits in terms of entertainment and tasks easier Apple product direction to those wanting an iPhone is the big screen instead of choosing other products This is considered a change from when Tim Cook became CEO when before that Apple does not produce big screen iPhone This generation of Plus products are a listening to users and integrate new smartphone trends This is a product for those who love the small screen and compact when regularly carrying Customers want a latest generation products and compact, the iPhone is a product that Apple towards this customer segment These customers accept the limitations of the iPhone compared to the iPhone Plus to use products with smaller screen size From 649$ (US) From 769$ (US) Place Regarding product distribution, Apple still keeps its traditions for many years the product is distributed through the Apple Store, other distributors such as network operators, the authorization company of the Apple, ecommerce sites, 24 A lot of places to always have products to meet the needs of customers Customers can easily buy Apple products around the world Promotion Apple promotion of their latest product is the iPhone and iPhone Plus through the strategy of advancing the proper product and end up stimulating the curiosity of customers Before taking the product for a long time, the Apple for leaking information about the iPhone and Plus to the newspaper page talking about their products and make everyone's curiosity Then, Apple held a major event in September to invite great journalists and those important to product launches These events not only Apple product launch ceremony that also is traditional, events that cause millions of people around the world wait Product launch event of the apple iPhone not only and Plus is always a great attraction and reputation Apple very little when falling product prices to stimulate They share many of the sales strategy to customers who buy their products, in collaboration with the home network to change policy reviews help customers can buy products better 3.2 The Business Market According to CareerRide state that business market in simple words is business to business market where in the products or services of a particular organization are sold to or purchased by other organization or business It also happens in support industries where the products that are manufactured are components required to be assembled into the products or services offered by some other business organization 25 The differences between business and consumer markets – Source: Dodney When sales for the enterprise means are involved in B2B In B2B, companies need to focus on the sale of industrial products, consulting services as well as services Businesses always have the big order for business offers, the interaction between manufacturers for lower business due to the large number of completely different things, with the normal consumer market as manufacturers must focus on advertising and promotion However, the 26 sale of products for the enterprise is necessary when they are always in need of very large numbers Apple always have customers who are very large businesses The large business needs a number of certain Apple products for employees to use in their work Apple must meet this order and with the support given Apple has the own product line for business such as iMac, Macbook Pro and recently the iPad Pro, the products that Apple completely oriented to businesses rather than individual users These products will support the good work of the enterprise and is the reason that businesses want Apple products 3.3 International Market According to KeyDifferences confirm that “Marketing is defined as the set of activities which are undertaken by the companies to provide satisfaction to the customers through value addition and making good relations with them, to increase their brand value Domestic marketing is when commercialization of goods and services are limited to the home country only while International marketing is the marketing which is stretched across several countries in the world.” The comparison table below will help us to see more clearly the difference between the market in domestic and international markets The characteristics of risk, scale, issues related to politics, other foreign factors that influence a product if it is applied in the domestic market or the international market 27 The differences between Domestic Marketing and International Marketing – Source: KeyDifferences Through the table above we can see the marketing activities in the country in smaller scale in comparison with international marketing, domestic marketing is easier a lot due to a domestic business was too clear about that country's market Besides, the domestic market 28 understand too well also reduced the risk that business experience and getting more Government incentives as well as easier in the distribution and promotion of a product, at least more competitive However, parallel to that, the domestic marketing also has many disadvantages like narrow market scale and the growth rate is also restricted, limits on technology to create new products For international marketing, the marketing restrictions in the country was resolved when the market was open, the growth is speeding up, the number of orders rose so high and bring the growth for the business However, it comes with those things as well as the other influences such as the culture of each other and where each business must have the appropriate strategies to suit every where High risk is also a reason in international marketing, the stiff competition of foreign businesses also influenced a lot In addition, the policies of foreign Governments also affect the strategies of enterprises in international marketing In international marketing, requires businesses to research for each market if it wants to reach that market That is the difference of the domestic marketing and international marketing Both have the pros and face hurt, businesses want to expand the scale must have the preparation and have the right strategy 29 References CareerRide (2016) Explain Business market and consumer market, Available at: http://careerride.com/Marketing-business-consumer.aspx (Accessed: 20 December 2016) Forbes (2016) The World's Most Valuable Brands, Available at: http://www.forbes.com/powerful- brands/ (Accessed: 20 December 2016) Forbes (2016) The World’s Biggest Public Companies, Available at: http://www.forbes.com/global2000/ (Accessed: 20 December 2016) Genk (2015) The history of 40 years of establishment and development of Apple through 30 photos, Available at: http://genk.vn/internet/lich-su-40-nam-hinh-thanhva-phat-trien-cua-apple- qua-30-buc-anh-20150827152101303.chn (Accessed: 20 December 2016) Keydifferences (2016) Difference between domestic and international marketing, Available at: http://keydifferences.com/difference-between-domestic-andinternational-marketing.html (Accessed: 20 December 2016) Learnmarketing (2016) Service Marketing Mix, Available at: http://www.learnmarketing.net/servicemarketingmix.htm (Accessed: 20 December 2016) Udemy (2014) Extended Marketing Mix: The Ps of Marketing, Available at: https://blog.udemy.com/extended-marketing-mix/ (Accessed: 20 December 2016) Writepass (2012) Marketing Analysis of Apple Inc, Available at: https://writepass.com/journal/2012/11/marketing-analysis-of-apple-inc/ (Accessed: 20 December 2016) 30