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Marketing Essentials: 7Ps Analysis & Plan

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0% found this document useful (0 votes)
63 views7 pages

Marketing Essentials: 7Ps Analysis & Plan

Uploaded by

khanhlinhngo2000
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

NATIONAL ECONOMICS UNIVERSITY

INTERNATIONAL SCHOOL OF MANAGEMENT AND ECONOMICS

HIGHER NATIONALS
BTEC HIGHER NATIONAL DIPLOMA IN BUSINESS (RQF)

Unit Code, Number and Title R/508/0486 - Unit 2: Marketing Essentials


Semester and Academic Year Semester 1, Academic year 2020-2021
Unit Assessor(s) Tran Hong Nhung / Tran Thu Trang
Hoang Tuan Dung / Nguyen Quynh Trang

Assessment Number and Title ME A2.1: The Marketing Mix (Assessment 2 of 2)


Issue Date 13th November 2020
Submission Date 10:00 am, Friday, December 11th, 2020 (soft copy only via Moodle)
IV Name Nguyen Thai Ha
IV Date 11th November 2020

Student name

NEU Student ID Pearson ID

Plagiarism is a particular form of cheating. Plagiarism must be avoided at all costs and students who
break the rules, however innocently, may be penalised. It is your responsibility to ensure that you
understand correct referencing practices. As a university level student, you are expected to use
appropriate references throughout and keep carefully detailed notes of all your sources of materials for
material you have used in your work, including any material downloaded from the Internet. Please
consult the relevant unit lecturer or your course tutor if you need any further advice.

I certify that the assignment submission is entirely my own work and I


Student declaration fully understand the consequences of plagiarism. I understand that making
a false declaration is a form of malpractice.

Student(s) name(s) / Signature Date:

1
Submission format and Instructions:

This assignment (Assessment 2 of 2) covers Learning Outcome 2 and 3 (LO2, LO3).


This is an individual assignment.
The submission format is in the form of a written report.
The assignment should have a cover page that includes the assignment code, number, tittle, assessors’
names and student’s name and ID. Attach all the pages of assignment brief with your report and
leave them blank for official use.
Ensure that authenticity declaration has been signed.
Include a content sheet with a list of all headings and page numbers.
Plagiarism is unacceptable. Students must cite all sources and input the information by paraphrasing,
summarising or using direct quotes. A Referral Grade is given when Plagiarism is identified in your
work. There are no exceptions. Your work must not have more than 20 percent similarity (excluding
references and appendix) as reported by Turnitin.

Your evidence/findings must be cited using Harvard Referencing Style. Please refer to Reference
guiding posted on Moodle.
This assignment should be written in a concise, formal business style using Arial 11 or Times New
Roman 13 font size and 1.5 spacing.
The word limit is 3,000 words (+/- 10%). If you exceed the word limit (excluding references and
administrative sections) your grade will be penalised.
 You MUST complete and submit softcopy of your work on the due dates stated on Assignment
brief. All late work is not allowed to submit. This rule is not waived under any circumstances. The
softcopy (included Reference list) must be submitted to Turn-it-in via Moodle.
 Read ALL Instructions on this Page and review the Pass, Merit and Distinction criteria carefully.
To pass the assignment, you must achieve ALL the Pass Criteria outlined in the marking sheet. To
achieve a Merit, you must achieve ALL the Merit criteria (and therefore the Pass criteria). To
achieve a Distinction, you must achieve ALL the Distinction criteria (and therefore the Pass and
Merit criteria).

Unit Learning Outcomes:

LO2 Compare ways in which organisations use elements of the marketing mix (7Ps) to achieve
overall business objectives
LO3 Develop and evaluate a basic marketing plan

Assessment Brief and Guidance:

You are the head of the marketing department from one of the companies in the list below. You have 2
main jobs for the next project, one is reviewing all the 7Ps of your company’s marketing mix and
compare them with those of one competitor of the same industry. After that, you are required to write up
a marketing plan for a specific service that your company is (or will be) offering.

List of companies (please pick ONE PAIR)


2
1. Hoa Sữa School vs. REACH Center
[Link]
[Link]

2. Personal Development Institute (Học viện phát triển cá nhân PDI) vs. Aspiration Investment and
Trading Joint Stock Company (Công ty CP Đầu tư và Thương mại Khát vọng)
[Link]
[Link]
3. Knowmads Hanoi vs. Innovation Incubator Social Co., Ltd. (Công Ty TNHH Xã Hội Ươm Mầm
Sáng Tạo)
[Link]
[Link]

4. Sapa Ochau Travel Social Enterprise vs. C2I (Craft to Inspire a new life)
[Link]
[Link]

5. Homefood vs. Vejo restaurant & cafe


[Link]
[Link]

6. TMDV 30Shine vs. Thành Nguyễn Hair Salon


[Link]
[Link]

7. Family Medical Practice vs. Vinmec Clinic: ok


[Link]
[Link]

Part A - Compare ways in which organisations use elements of the marketing mix (7Ps) to achieve
overall business objectives.

After you have chosen one organisation from the list above, please explain in detail each of the
company’s 7Ps and compare with that of the competing brand.

1. Product: The services being offered by the company; The type and characteristics of each service.

2. Price: Pricing approach, pricing strategy and factors influencing pricing of the service/product.

3. Place: The distribution channels of the company; the characteristics of each distribution channel
(the reason why the company chooses to distribute its services in those places).

4. Promotion: Integrated marketing communication and promotional tools. Give a detailed example of
the most current or most famous IMC program.

5. People: The different roles of ‘people’ in marketing, including customer interfacing and support
personnel. The different skills, attitudes and behaviour of people delivering the product or service
to customers.

6. Physical evidence: The tangible aspects of service delivery (Service ambience,


signs/signals/artifacts).

3
7. Process: Systems and processes involved in delivering a consistent service. Draw the blueprint of
the service from your company.

Part B - Develop and evaluate a basic marketing plan

After you complete a review of the 7Ps of your chosen organisation, you have to come up with a
marketing plan for it. Suppose that your company is wanting to sell an existing service to a new market or
sell a new service to an existing market or sell a new service to a new market, your marketing plan should
have the objective of pushing the sales of the service.

For this part, you should be able to provide the following information:

1. Company Overview: Briefly summarize the history of establishment and development, its vision
and mission, its business and achievements.

2. Current Marketing Situation Analysis: Come up with the SWOT analysis for your chosen company.

3. Marketing objectives: Write at least 2 marketing objectives for your self-developed marketing plan.

4. Segmentation, Targeting and Positioning (STP): For Segmentation, explain and analyse how you
segment the market for your company (based on which criteria); For Targeting, explain and analyse
the Targeting strategy you choose (Differentiated, Undifferentiated or Focus); For Positioning, it is
recommended that you come up with a positioning map for your company and its competitors.

5. Tactics and Action: In this part, based on the 7Ps situation you have analysed in Task 1, you can
make some changes or adjustments to any element of the marketing mix so that you reach the
objective of pushing sales.

6. Evaluating and Monitoring marketing plans: Explain and analyse how you would evaluate and
monitor the success of your Marketing plan (by which tool/method).
Further Instructions on Command Verbs:

1. Explain means to give account of the purposes or reason.


2. Analyse: Present the outcome of methodical and detailed examination either:
 breaking down a theme, topic or situation in order to interpret and study the interrelationships
between the parts and/or
 of information or data to interpret and study key trends and interrelationships.
3. Critically analyse: Separate information into components and identify characteristics with depth
to the justification.
4. Evaluate: work draws on varied information, themes or concepts to consider aspects, such as:
 strengths or weaknesses
 advantages or disadvantages
 alternative actions
 relevance or significance.
Students’ inquiries should lead to a supported judgement showing relationship to its context. This
will often be in a conclusion.
5. Critically evaluate: Make a judgement taking into account different factors and using available
knowledge/experience/evidence where the judgement is supported in depth.

Learning Outcomes and Assessment Criteria

4
Learning Achieved Achieved Achieved
Pass Merit Distinction
Outcome (ticked) (ticked) (ticked)

P3 Compare the
LO2 Compare
ways in which M3 Evaluate
ways in which x
different different tactics
organisations
organisations applied by
use elements of
apply the organisations to
the marketing x x
marketing mix to demonstrate how LO2 and LO3
mix (7Ps) to
the marketing business D2 Design a
achieve overall
planning process objectives can be strategic
business
to achieve achieved. marketing plan
objectives
business that tactically
objectives. applies the use
of the 7Ps to
achieve overall
M4 Produce a marketing
LO3 Develop detailed, objectives.
P4 Produce and
and evaluate a coherent
evaluate a basic
basic v evidence-based x
marketing plan for
marketing marketing plan
an organisation.
plan for an
organisation.

5
Formative Feedback: Assessor to Student

Task 1:
- Comparison of 7Ps: You have done the comparison between 2 companies
- How 7Ps help your companies achieve their business objectives: you did not mention cooperate
objectives, so your analysis makes non-sense.
Task 2
- Current Marketing Situation Analysis: the way you explain each point in SWOT analysis is good.
- Marketing objectives: You have come up with 2 marketing objectives and they are SMART
achieved
- Segmentation, Targeting and Positioning (STP): a good STP is provided
- Tactics and Action: it is consistent with your previous parts.
- Evaluating and monitoring: you could name some tools to monitor your marketing campaign

Action Plan
-Revise task 1: you need to name corporate objectives of 2 companies and explain how 7Ps helps to achieve
objectives.
=> P4 is achieved
Rework is required

Summative Feedback: Assessor to Student

Choose One The Student Is Awarded:


(*) v Referral PASS Grade MERIT Grade DISTINCTION Grade

Name Of Assessor: Nguyen Quynh Trang Date Of Assessment: Jan 2021

Re-submission Feedback:

Choose One The Student Is Awarded A:


(*) Referral PASS Grade

Name Of Assessor: Date Of Assessment:

Feedback: Student to Assessor

6
Signature & Date:

* Please note that grades are provisional. They are only confirmed once internal and external verifiers
have taken place, and the final decisions have been agreed at the assessment board.
* This grade only reflects the result of this assignment, not for the whole Unit.

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