Paper 7

PRINCIPLES OF MARKETING AND COMMUNICATION

This unit covers the competencies required to; identifying concepts of marketing, positioning a product in the market, developing a marketing plan, managing customer relationships and applying the concepts of business communication to manage organisation.

On completion, a candidate should be able to

Identifying concepts of marketing
Position a product in the market
Develop a marketing plan
Manage customer relationships
Apply the concepts of business communication to manage organisation

Content

1
Identify concepts of marketing
1. 1.1
  Definition of key terms in marketing
  1. 1.1.1
    Market
  2. 1.1.2
    Marketing
  3. 1.1.3
    Marketing research
2. 1.2
  Importance of marketing
3. 1.3
  Basic marketing concepts
  1. 1.3.1
    The production concept
  2. 1.3.2
    The product concept
  3. 1.3.3
    The selling concept
  4. 1.3.4
    The marketing concept
  5. 1.3.5
    The societal marketing concept
4. 1.4
  The role of marketing in a business organization
5. 1.5
  The marketing process
2
Position a product in the market
1. 2.1
  Key definition of terms
  1. 2.1.1
    Market segmentation
  2. 2.1.2
    Market target
  3. 2.1.3
    Market positioning
2. 2.2
  Basis of market segmentation
  1. 2.2.1
    Geographic segmentation
  2. 2.2.2
    Behavioural segmentation
  3. 2.2.3
    Demographic segmentation
  4. 2.2.4
    Psychographic segmentation
3. 2.3
  Process of market segmentation
4. 2.4
  Importance of market segmentation
  1. 2.4.1
    Market targeting strategies
  2. 2.4.2
    Undifferentiated marketing (mass marketing)
  3. 2.4.3
    Differentiated marketing
  4. 2.4.4
    Concentrated marketing (Niche marketing)
5. 2.5
  Target market selection process
6. 2.6
  Importance of target marketing to a business
7. 2.7
  Market positioning strategies
8. 2.8
  Benefits of market segmentation (26)
9. 2.9
  5P’s of marketing mix
10. 2.10
  Market analysis of the product
3
Develop a marketing plan
1. 3.1
  Defining a marketing plan
2. 3.2
  Importance of a marketing plan
3. 3.3
  Characteristics of a good marketing plan
4. 3.4
  Steps in preparing a marketing plan
5. 3.5
  Components of a marketing plan
  1. 3.5.1
    Executive summary
  2. 3.5.2
    Business objectives
  3. 3.5.3
    The business
  4. 3.5.4
    The customers
  5. 3.5.5
    The competitors
  6. 3.5.6
    The product/service
  7. 3.5.7
    The distribution strategy
  8. 3.5.8
    The promotion strategy
  9. 3.5.9
    The pricing strategy
  10. 3.5.10
    The marketing budget
6. 3.6
  Barriers to effective implementation of marketing plans
4
Manage customer relationships
1. 4.1
  Key terms in customer relationships
  1. 4.2.1
    Customer loyalty
  2. 4.2.2
    Customer satisfaction
  3. 4.2.3
    Customer service
  4. 4.2.4
    Customer relations
2. 4.2
  Strategies of attracting new customers
3. 4.3
  Importance of customer retention
4. 4.4
  Customer retention strategies
5. 4.5
  Principles of effective customer service
6. 4.6
  Customer service training
7. 4.7
  Strategies of providing excellent customer service
8. 4.8
  Importance of customer service in business
9. 4.9
  Importance of customer feedback
10. 4.10
  Methods of obtaining customer feedback
  1. 4.10.1
    Email and customer contact forms
  2. 4.10.2
    Exploratory customer interviews
  3. 4.10.3
    Social media
  4. 4.10.4
    On-site activity (via analytics)
  5. 4.10.5
    Instant feedback from your website
11. 4.11
  Principles of effective complaints handling
12. 4.12
  Procedure for handling customer feedback and complaints
13. 4.13
  Skills for effective complaints handling
14. 4.14
  Listening to customers
15. 4.15
  Dealing with difficult customers
16. 4.16
  Methods of monitoring and measuring customer satisfaction
17. 4.17
  Benefits of customer satisfaction
18. 4.18
  Ways of promoting customer loyalty
19. 4.19
  Building long term relationships with customers (27)
5
Apply the concepts of business communication to manage organisation
1. 5.1
  Concepts of communication
  1. 5.1.1
    Meaning of communication
  2. 5.1.2
    Purpose of communication
  3. 5.1.3
    Elements of communication
  4. 5.1.4
    Stages of the communication process
    1. 5.1.4.1
      Source
    2. 5.1.4.2
      Encoding
    3. 5.1.4.3
      Channel
    4. 5.1.4.4
      Decoding
    5. 5.1.4.5
      Feedback
    6. 5.1.4.6
      Principles of effective communication
  5. 5.1.5
    Formal and informal communication channels
    1. 5.1.5.1
      Flow of formal communication
  6. 5.1.6
    Forms of communication
    1. 5.1.6.1
      Oral communication
    2. 5.1.6.2
      Non-verbal communication
    3. 5.1.6.3
      Written communication
    4. 5.1.6.4
      Visual communication
    5. 5.1.6.5
      Audio-visual communication
  7. 5.1.7
    Advantages and disadvantages of various forms of communication
  8. 5.1.8
    Effective listening
  9. 5.1.9
    Barriers to effective communication
  10. 5.1.10
    Overcoming barriers to effective communication
2. 5.2
  Apply writing skills in communication
  1. 5.2.1
    Steps in writing business documents
    1. 5.2.1.1
      Prewriting
    2. 5.2.1.2
      Drafting
    3. 5.2.1.3
      Revising
    4. 5.2.1.4
      Editing
  2. 5.2.2
    Rules of writing business documents
  3. 5.2.3
    Purposes of business documents
    1. 5.2.3.1
      Business letters
    2. 5.2.3.2
      Business reports
    3. 5.2.3.3
      Memorandum
    4. 5.2.3.4
      Reports
    5. 5.2.3.5
      E-mail
    6. 5.2.3.5
      Circulars
    7. 5.2.3.6
      Advertisements
    8. 5.2.3.7
      Notices
    9. 5.2.3.8
      E-mail
3. 5.3
  Conduct interviews
  1. 5.3.1
    Definition of key terms in interviews
    1. 5.3.1.1
      Interview
    2. 5.3.1.2
      Interviewer
    3. 5.3.1.2
      Interviewee
  2. 5.3.2
    Purpose of interviews
  3. 5.3.3
    Types of interviews
    1. 5.3.3.1
      Unstructured
    2. 5.3.3.2
      Semi-structured (28)
    3. 5.3.3.3
      Structured
  4. 5.3.4
    Skills for effective interviewing
  5. 5.3.5
    Importance of non-verbal communication in interviews
  6. 5.3.6
    Purpose of maintaining of interview documents
4. 5.4
  Apply presentation skills
  1. 5.4.1
    Definition of presentation
  2. 5.4.2
    Uses of presentation
  3. 5.4.3
    Presentation skills
  4. 5.4.4
    Elements of a presentation
  5. 5.4.5
    Methods of delivering a presentation
    1. 5.4.5.1
      Manuscript
    2. 5.4.5.2
      Memorised
    3. 5.4.5.3
      Extemporaneous
    4. 5.4.5.4
      Impromptu
  6. 5.4.6
    Basic parts of a presentation
  7. 5.4.7
    Importance of Audience analysis in presentation
    1. 5.4.7.1
      Use of visual aids in presentation
5. 5.5
  Meetings
  1. 5.5.1
    Purpose of holding meetings in an organisation
  2. 5.5.2
    Types of meetings
    1. 5.5.2.1
      Formal
    2. 5.5.2.2
      Informal
6. 5.6
  Stages of conducting formal meeting
7. 5.7
  Importance of agenda of the meeting
8. 5.8
  Role of the chairperson and the secretary in a meeting
9. 5.9
  Importance of minutes
10. 5.10
  Online meetings
  1. 5.10.1
    Video conferencing
  2. 5.10.2
    Teleconferencing
  3. 5.10.3
    Webinar