marketing diploma course - final examination

Aleksandre Ananiashvili Marketing Diploma Course - Final Examination

Student ID: S12976 – ANA010NN Stonebridge Associated College

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Stonebridge Associated College

MARKETING DIPLOMA COURSE

Final Examination

Assignment Title: Final Examination

Name of student: Aleksandre Ananiashvili

Student ID Number: S12976 – ANA010NN

Module Title: Marketing Diploma Course

Supervisor name: Paul Appleton

Date of submission: 24 March 2010

Session 2009-2010

Marketing Diploma Course



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T A B L E O F C O N T E N T S

QUESTION 1

1. IN YOUR OWN WORDS SUMMARIZE THE MAJOR LEARNING POINTS FROM THE WHOLE OF

THE STUDY PROGRAMME WITH PARTICULAR REFERENCE TO: .................................................... 4

1.1. THE CONCEPT OF MARKETING MANAGEMENT – UNIT 1 ..................................................................... 4

The Production Concept ....................................................................................................... 4

The Sales Concept ................................................................................................................ 4

The Marketing Concept ........................................................................................................ 5

1.2. ENVIRONMENTAL MONITORING IN MARKETING – UNIT 2 .................................................................. 5

1.3. INDUSTRIAL, CONSUMER AND SERVICE MARKETS – UNIT 3 ................................................................. 6

Consumer Markets ............................................................................................................... 6

Industrial Markets ................................................................................................................ 6

1.4. MARKET SEGMENTATION – UNIT 4 ............................................................................................... 7

The Need for Market Segmentation .................................................................................... 7

Requirements of Market Segments...................................................................................... 7

Bases for Segmentation in Consumer Markets .................................................................... 8

Bases for Segmentation in Industrial Markets ..................................................................... 9

1.5. THE MARKETING MIX – UNIT 5 ................................................................................................... 10

Product ............................................................................................................................... 10

Price .................................................................................................................................... 11

Place ................................................................................................................................... 11

Promotion ........................................................................................................................... 11

People ................................................................................................................................. 11



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Process ............................................................................................................................... 11

Physical (evidence) ............................................................................................................. 11

1.6. COMMUNICATION IN MARKETING – UNIT 6 .................................................................................. 12

The Marketing Communications Mix ................................................................................. 12

1.7. MARKET RESEARCH – UNIT 7 ..................................................................................................... 13

The Market Research Process ............................................................................................ 13

Quantitative Research ........................................................................................................ 13

Qualitative Research .......................................................................................................... 13

1.8. THE NATURE AND ROLE OF MARKETING ANALYSIS – UNIT 8 .............................................................. 14

1.9. CHANGING MARKET STRUCTURES AND THE IMPLICATIONS FOR CHANNEL RELATIONSHIPS – UNIT 9 ........... 14

QUESTION 2

2. WITH REFERENCE TO YOUR OWN LEARNING, SUMMARIZE HOW YOU WILL BE ABLE TO

UTILIZE THESE THEORIES WHEN WORKING IN AN EVERYDAY SITUATION. ................................. 16



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FINAL EXAMINATION

1. IN YOUR OWN WORDS SUMMARIZE THE MAJOR LEARNING POINTS FROM THE

WHOLE OF THE STUDY PROGRAMME WITH PARTICULAR REFERENCE TO:

1.1. THE CONCEPT OF MARKETING MANAGEMENT – UNIT 1

The marketing concept is the philosophy that firms should analyze the needs of their customers and then

make decisions to satisfy those needs, better than the competition. Today most firms have adopted the

marketing concept, but this has not always been the case.

Marketing is at heart an exchange process between people. In a marketing-focused organization the

marketing concept will permeate throughout and marketers should be active in both corporate and functional

management.

Marketers are managers within their organizations and this prime need must be neglected in favor of a

focus on purely functional marketing issues. Managers lead people to the achievement of results and

marketers should be trained in both management and marketing skills.

Organizational focus is provided by a mission and by policies which allow corporate objectives to be set

to guide the functional strategies and tactics. As responsibility is delegated, so each manager‟s policies are

established by the tactics on his or her superior. Thus, it is important to clarify the level of objective, e.g.

marketing strategic objective, sales tactical objective, and so on. Objectives should be established in writing

and should be SMART, which each tied to a specific control.

Marketers interact with people, who „buy‟ in response to need. The needs of members of target audiences

must be identified so that they can be provided for. It is far easier to identify and satisfy need than to create a

need to match a product offering. The marketing mix of the 7Ps/7Cs, plus planning and research, are used to

achieve marketing‟s objectives.

To better understand the marketing concept, it is worthwhile to put it in perspective by reviewing other

philosophies that once were predominant. While these alternative concepts prevailed during different

historical time frames, they are not restricted to those periods and are still practiced by some firms today.

THE PRODUCTION CONCEPT

The production concept prevailed from the time of the industrial revolution until the early 1920's. The

production concepts was the idea that a firm should focus on those products that it could produce most

efficiently and that the creation of a supply of low-cost products would in and of itself create the demand for

the products.

THE SALES CONCEPT

Mass production had become commonplace, competition had increased, and there was little unfulfilled

demand. Around this time, firms began to practice the sales concept (or selling concept), under which

companies not only would produce the products, but also would try to convince customers to buy them

through advertising and personal selling.



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THE MARKETING CONCEPT

The variety of products increased and hard selling no longer could be relied upon to generate sales. With

increased discretionary income, customers could afford to be selective and buy only those products that

precisely met their changing needs, and these needs were not immediately obvious.

The marketing concept relies upon marketing research to define market segments, their size, and their

needs. To satisfy those needs, the marketing team makes decisions about the controllable parameters of the

marketing mix.

1.2. ENVIRONMENTAL MONITORING IN MARKETING – UNIT 2

This unit has looked at environmental factors that can have an impact on an organization. It started with

the environment created within the organization itself – its management structure, legal status and corporate

objectives and considered how these might affect the functioning of the organization. The second half of the

unit looked outwards to the people (the stakeholders) and the other organizations (competitors) who were

likely to have an effect on the way the organization functioned. Finally it looked at the macro-environment:

the socio-cultural, political, economic and technological factors that come into play.

Environmental monitoring can play a vital scientific role in not only the long term, but also the short term

growth of any business. Through knowledge and understanding it will be better equipped to avoid potential

environmental violations, potential problems, not to mention offer key management and research.

Environmental monitoring is essential to any company to determine the correct environmental planning and

policy for business. However, the benefits of environmental monitoring are not always clear, and it has been

criticized in the past for being too costly, without enough justifiable upside.

Environmental monitoring is critical in determining the safeness of certain controlled environments.

Large companies often hire outside consulting firms, who specialize in environmental monitoring services, to

conduct a thorough examination of their premises and all of their manufacturing components. This enables

quality assurance that the company can move ahead unhindered. The consulting firm will thoroughly inspect

the entire manufacturing and production environment, to make sure everything is up to code, and safe, not

only for the employees but the consumers as well. Environmental monitoring is vital in guaranteeing the

manufacture and control products within your entire manufacturing area.

Without environmental monitoring, many companies would not be able to guarantee the safety and

optimum efficiency needed in the mass production of business. Environmental monitoring is also important

because it is the fundamental base for initiatives, and adaptive management within a company. It helps to

determine if a certain project is having its intended results, as well as being safe and responsible. By

detecting any minor or major problems early enough in the production process, company could save possibly

millions of dollars in losses, as well as any legal problems that may arise.

For environmental monitoring to be effective for business, it should be carefully considered against

budget constraints, as well as the size and risk of the project. If the project may be high risk, then having an

environmental monitoring firm do a thorough examination may be costly at first, but could save the company

millions down the road. Sometimes, without the right monitoring at the very beginning of a project, it could

take years, and large amounts of money on a project that was doomed to fail from the beginning.

Environmental monitoring should be cost effective to the business, and should only be a small portion of the

cost of the entire project.



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Environmental monitoring can be a very important service in any process. Any consultants would agree

that it may lead the business to a substantial reduction in the uncertainty that goes along with management,

as well as guarantee the safety of possibly thousands of workers and potential customers.

1.3. INDUSTRIAL, CONSUMER AND SERVICE MARKETS – UNIT 3

This unit has introduced to some of the differences marketers encounter when offering products and

services to business and private consumers. It has explored difference in buying behaviour between these

two purchasing groups and examined their effect on product, pricing, distribution and promotion strategies.

Before delving too deep into the study of marketing, it is worth pausing to consider the different types of

market that exist. Markets can be analysed via the product itself, or end-consumer, or both. The most

common distinction is between consumer and industrial markets.

CONSUMER MARKETS

Consumer markets are the markets for products and services bought by individuals for their own or

family use. Goods bought in consumer markets can be categorised in several ways:

Fast-moving consumer goods

– These are high volume, low unit value, fast repurchase

– Examples include: Ready meals; Baked Beans; Newspapers

Consumer durables

– These have low volume but high unit value. Consumer durables are often further divided into:

– White goods (e.g. fridge-freezers; cookers; dishwashers; microwaves)

– Brown goods (e.g. DVD players; games consoles; personal computers)

Soft goods

– Soft goods are similar to consumer durables, except that they wear out more quickly and therefore have a

shorter replacement cycle

– Examples include clothes, shoes

Services

– Hairdressing, dentists, childcare

INDUSTRIAL MARKETS

Industrial markets involve the sale of goods between businesses. These are goods that are not aimed

directly at consumers. Industrial markets include. Industrial markets often require a slightly different

marketing strategy and mix. In particular, a business may have to focus on a relatively small number of



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potential buyers. Whereas consumer marketing tends to be aimed at the mass market, industrial marketing

tends to be focused.

Selling finished goods

– Examples include office furniture, computer systems

Selling raw materials or components

– Examples include steel, coal, gas, timber

Selling services to businesses

– Examples include waste disposal, security, accounting and legal services.

The nature and complexity of services, and the importance of understanding customer involvement to

ensure a satisfactory process, were examined in the final section.

1.4. MARKET SEGMENTATION – UNIT 4

This unit has outlined the market segmentation process from the initial analysis of the market through to

segmenting the market, selecting viable market segments and determining a product‟s position within that

marketing segment.

Market segmentation is the identification of portions of the market that are different from one another.

Segmentation allows the firm to better satisfy the needs of its potential customers.

THE NEED FOR MARKET SEGMENTATION

The marketing concept calls for understanding customers and satisfying their needs better than the

competition. But different customers have different needs, and it rarely is possible to satisfy all customers by

treating them alike.

Mass marketing refers to treatment of the market as a homogenous group and offering the same

marketing mix to all customers. Mass marketing allows economies of scale to be realized through mass

production, mass distribution, and mass communication. The drawback of mass marketing is that customer

needs and preferences differ and the same offering is unlikely to be viewed as optimal by all customers. If

firms ignored the differing customer needs, another firm likely would enter the market with a product that

serves a specific group, and the incumbent firms would lose those customers.

Target marketing on the other hand recognizes the diversity of customers and does not try to please all of

them with the same offering. The first step in target marketing is to identify different market segments and

their needs.

REQUIREMENTS OF MARKET SEGMENTS

In addition to having different needs, for segments to be practical they should be evaluated against the

following criteria:



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Identifiable: the differentiating attributes of the segments must be measurable so that they can be

identified.

Accessible: the segments must be reachable through communication and distribution channels.

Substantial: the segments should be sufficiently large to justify the resources required to target them.

Unique needs: to justify separate offerings, the segments must respond differently to the different

marketing mixes.

Durable: the segments should be relatively stable to minimize the cost of frequent changes.

A good market segmentation will result in segment members that are internally homogenous and

externally heterogeneous; that is, as similar as possible within the segment, and as different as possible

between segments.

BASES FOR SEGMENTATION IN CONSUMER MARKETS

Consumer markets can be segmented on the following customer characteristics.

Geographic

Demographic

Psychographic

Behavioristic

Geographic Segmentation

The following are some examples of geographic variables often used in segmentation.

Region: by continent, country, state, or even neighborhood

Size of metropolitan area: segmented according to size of population

Population density: often classified as urban, suburban, or rural

Climate: according to weather patterns common to certain geographic regions

Demographic Segmentation

Some demographic segmentation variables include:

Age

Gender

Family size

Family lifecycle

Generation: baby-boomers, Generation X, etc.

Income

Occupation

Education

Ethnicity

Nationality

Religion

Social class

Many of these variables have standard categories for their values. For example, family lifecycle often is

expressed as bachelor, married with no children (DINKS: Double Income, No Kids), full-nest, empty-nest, or



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solitary survivor. Some of these categories have several stages, for example, full-nest I, II, or III depending

on the age of the children.

Psychographic Segmentation

Psychographic segmentation groups customers according to their lifestyle. Activities, interests, and

opinions surveys are one tool for measuring lifestyle. Some psychographic variables include:

Activities

Interests

Opinions

Attitudes

Values

Behavioristic Segmentation

Behavioral segmentation is based on actual customer behavior toward products. Some behavioristic

variables include:

Benefits sought

Usage rate

Brand loyalty

User status: potential, first-time, regular, etc.

Readiness to buy

Occasions: holidays and events that stimulate purchases

Behavioral segmentation has the advantage of using variables that are closely related to the product itself.

It is a fairly direct starting point for market segmentation.

BASES FOR SEGMENTATION IN INDUSTRIAL MARKETS

In contrast to consumers, industrial customers tend to be fewer in number and purchase larger quantities.

They evaluate offerings in more detail, and the decision process usually involves more than one person.

These characteristics apply to organizations such as manufacturers and service providers, as well as resellers,

governments, and institutions.

Many of the consumer market segmentation variables can be applied to industrial markets. Industrial

markets might be segmented on characteristics such as:

Location

Company type

Behavioral characteristics

Location

In industrial markets, customer location may be important in some cases. Shipping costs may be a

purchase factor for vendor selection for products having a high bulk to value ratio, so distance from the

vendor may be critical. In some industries firms tend to cluster together geographically and therefore may

have similar needs within a region.



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Company Type

Business customers can be classified according to type as follows:

Company size

Industry

Decision making unit

Purchase Criteria

Behavioral Characteristics

In industrial markets, patterns of purchase behavior can be a basis for segmentation. Such behavioral

characteristics may include:

Usage rate

Buying status: potential, first-time, regular, etc.

Purchase procedure: sealed bids, negotiations, etc.

This process lies at the heart of the overall philosophy of marketing. Success stories abound of companies

who have successfully adopted and implemented market segmentation into their planning process. Equally,

stories of failure are all to frequent as companies poorly define their markets, treat all customers in that

market the same, do not evaluate market segments rigorously or finally, fail to position the product

appropriately or communicate this position effectively.

The learning outcomes from this unit are relevant to marketing in industry, commerce or the public

sector. Market segmentation techniques are becoming increasingly sophisticated, but the important principles

that underline this process will always remain essential for the development of effective market strategies.

1.5. THE MARKETING MIX – UNIT 5

In this unit the full 7Ps are needed if a marketer is to effectively manage the marketing mix. Although,

7Ps framework remains useful, it is better to work from the prospective of the customer and consumer and

translate each P into C.

Once developed marketing strategy, there is a "Seven P Formula" to continually evaluate and reevaluate

business activities. These seven are: product, price, promotion, place, packaging, positioning and people.

Marketing professionals and specialist use many tactics to attract and retain their customers.

These activities comprise of different concepts, the most important one being the marketing mix.

There are two concepts for marketing mix: 4P and 7P. It is essential to balance the 4Ps or the 7Ps of

the marketing mix. The concept of 4Ps has been long used for the product industry while the latter

has emerged as a successful proposition for the services industry. The 7Ps of the marketing mix can

be discussed as:

PRODUCT

It must provide value to a customer but does not have to be tangible at the same time. Basically,

it involves introducing new products or improvising the existing products.



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PRICE

Pricing must be competitive and must entail profit. The pricing strategy can comprise discounts,

offers and the like.

PLACE

It refers to the place where the customers can buy the product and how the product reaches out to

that place. This is done through different channels, like Internet, wholesalers and retailers.

PROMOTION

It includes the various ways of communicating to the customers of what the company has to

offer. It is about communicating about the benefits of using a particular product or service rather

than just talking about its features.

PEOPLE

People refer to the customers, employees, management and everybody else involved in it. It is

essential for everyone to realize that the reputation of the brand that you are involved with is in the

people's hands.

PROCESS

It refers to the methods and process of providing a service and is hence essential to have a

thorough knowledge on whether the services are helpful to the customers, if they are provided in

time, if the customers are informed in hand about the services and many such things.

PHYSICAL (EVIDENCE)

It refers to the experience of using a product or service. When a service goes out to the customer,

it is essential that you help him see what he is buying or not. For example- brochures, pamphlets

etc. serve this purpose.

Those managers, who do not shift to a 7 Cs approach, even if they continue to use the Ps

framework for convenience, cannot call themselves marketers. Nor their organizations are as

successful as their potential would indicate.

Concise Credible Consistent Customers' needs Costs Counter marketing Compelling

None of the 7 Ps stands alone. The whole of the marketing mix interrelates and decisions taken

in any one area have repercussions across the other six. Among the 7 Ps, only promotion is in

totally within the marketer‟s control. Each of the other six Ps exists within another function of the

organization, and marketing communication skills are needed to negotiate the needed actions so that

the objectives within a marketing plan can be achieved.



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1.6. COMMUNICATION IN MARKETING – UNIT 6

Marketing communications is a subset of the overall subject area known as marketing. Marketing has a

marketing mix that is made of price, place, promotion, product (known as the four P's), that includes people,

processes and physical evidence, when marketing services (known as the seven P's). Marketing

communications is 'promotion' from the marketing mix.

Traditionally, marketing communication practitioners‟ focus on the creation and execution of printed

marketing collateral; however, academic and professional research developed the practice to use strategic

elements of branding and marketing in order to ensure consistency of message delivery throughout an

organization - the same "look & feel". Many trends in business can be attributed to marketing

communication; for example: the transition from customer service to customer relations, and the transition

from human resources to human solutions.

Why are marketing communications 'integrated?' Integrated means combine or amalgamate, or put simply

the jigsaw pieces that together make a complete picture. This is so that a single message is conveyed by all

marketing communications. Different messages confuse your customers and damage brands. So if a TV

advert carries a particular logo, images and message, then all newspaper adverts and point-of-sale materials

should carry the same logo, images or message, or one that fits the same theme. Coca-Cola uses its familiar

red and white logos and retains themes of togetherness and enjoyment throughout its marketing

communications.

Marketing communications has a mix. Elements of the mix are blended in different quantities in a

campaign. The marketing communications mix includes many different elements, and the following list is by

no means conclusive. It is recognized that there is some cross over between individual elements (e.g. Is

donating computers to schools, by asking shoppers to collect vouchers, public relations or sales promotion?)

Here are the key of the marketing communications mix.

THE MARKETING COMMUNICATIONS MIX

Personal Selling.

Sales Promotion.

Public Relations (and publicity).

Direct Marketing.

Trade Fairs and Exhibitions.

Advertising (above and below the line).

Sponsorship.

Packaging.

Merchandising (and point-of-sale).

E-Marketing (and Internet promotions).

Brands.

Integrated marketing communications see the elements of the communications mix 'integrated' into a

coherent whole. This is known as the marketing communications mix, and forms the basis of a marketing

communications campaign.

Marketing communications is focused on product/produce/service as opposed to corporate

communications where the focus of communications work is the company/enterprise itself. Marketing

communications is primarily concerned with demand generation, product/produce/service positioning while

corporate communications deal with issue management, mergers and acquisitions, litigation etc.



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1.7. MARKET RESEARCH – UNIT 7

This unit has introduced to the main techniques of market research. It has considered its role within the

marketing function, its scope and its limitations. The place to start with any market research is with already

existing (secondary) data, both that which is internal to the organization, and external, published information.

When, and if, researcher comes to the point of needing to commission or organize the collection of

primary data, it has been emphasized that careful planning is essential to the success of any survey. The

subject of questionnaire planning has been touched on, and the problems of identifying a suitable sample of

the population were discussed.

Market Research is a systematic, objective collection and analysis of data about a particular target market,

competition, and/or environment. It always incorporates some form of data collection whether it is secondary

research (often referred to as desk research) or primary research which is collected direct from a respondent.

The purpose of any market research project is to achieve an increased understanding of the subject matter.

With markets throughout the world becoming increasingly more competitive, market research is now on the

agenda of many organizations, whether they are large or small.

THE MARKET RESEARCH PROCESS

To conduct market research, organizations may decide to undertake the project themselves (some through

a marketing research department) or they might choose to commission it via a market research agency or

consultancy. Whichever, before undertaking any research project, it is crucial to define the research

objectives i.e. what are you trying to achieve from the research? And what do you need to know?

After considering the objectives, Market Researchers can utilize many types of research techniques and

methodologies to capture the data that they require. All of the available methodologies either collect

quantitative or qualitative information. The use of each very much depends on the research objectives but

many believe that results are most useful when the two methods are combined.

QUANTITATIVE RESEARCH

Quantitative research is numerically oriented, requires significant attention to the measurement of market

phenomena and often involves statistical analysis. For example, a bank might ask its customers to rate its

overall service as excellent, good, poor or very poor. This will provide quantitative information that can be

analyzed statistically. The main rule with quantitative research is that every respondent is asked the same

series of questions. The approach is very structured and normally involves large numbers of

interviews/questionnaires.

Perhaps the most common quantitative technique is the „market research survey‟. These are basically

projects that involve the collection of data from multiple cases – such as consumers or a set of products.

Quantitative surveys can be conducted by using post (self-completion), face-to-face (in-street or in-home),

telephone, email or web techniques. The questionnaire is one of the more common tools for collecting data

from a survey, but it is only one of a wide ranging set of data collection aids.

QUALITATIVE RESEARCH

Qualitative research provides an understanding of how or why things are as they are. For example, a

Market Researcher may stop a consumer who has purchased a particular type of bread and ask him or her

why that type of bread was chosen. Unlike quantitative research there are no fixed set of questions but,

instead, a topic guide (or discussion guide) is used to explore various issues in-depth. The discussion



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between the interviewer (and moderator) and the respondent is largely determined by the respondents' own

thoughts and feelings.

As with quantitative techniques, there are also various types of qualitative methodologies. Research of

this sort is mostly done face-to-face. One of the best-known techniques is market research group discussions

(or focus groups). These are usually made up of 6 to 8 targeted respondents, a research moderator whose role

is to ask the required questions, draw out answers, and encourage discussion, and an observation area usually

behind one way mirrors, and video and/or audio taping facilities.

In addition, qualitative research can also be conducted on a „one on one‟ basis i.e. an in-depth interview

with a trained executive interviewer and one respondent, a paired depth (two respondents), a triad (three

respondents) and a mini group discussion (4-5 respondents)

.

1.8. THE NATURE AND ROLE OF MARKETING ANALYSIS – UNIT 8

In this unit the types of variables and data categories which a marketing analyst may encounter has been

shown. It has also been examined procedures for the coding of such data prior to analysis. An outline of the

important techniques and approaches to the analysis of data was then made, where the techniques of

hypothesis testing, bivariate analysis and multivariate analysis were demonstrated in terms of marketing

analysis.

The analysis of the market is an important part of any overall evaluation or implementation of a

marketing strategy. The techniques employed by analysts can be used to assess the correct marketing mix,

changing market structures, support or reject hypotheses that have been proposed and forecasting or

estimating market potential, to name but a few. This course looks at the differences within data, the range of

data that can be encountered in marketing analysis and some of the main techniques used in the evaluation of

such data.

The concept of statistical significance in hypothesis testing and bivariate analysis are important

considerations for any analyst, as any decision-making which has to be undertaken in a marketing

environment needs to be justified by sound technique, rather than judgment. The unit has therefore covered

the essential principles of hypothesis testing and bivariate analysis to highlight these points.

In marketing analysis, primary data (usually obtained from questionnaires) is a common and valuable

source of information for decision making in areas of supply and demand forecasting, consumer preference

and general consumer opinion. Data sets for such analyses are usually every large, and the application of

techniques can result in complex analysis. Use of sophisticated computer software to undertake such

evaluation is widely employed in marketing, and you have examined, a range of some of the important

multivariate techniques currently used by marketing analysists for which the resultant printouts were

obtained using the software package.

1.9. CHANGING MARKET STRUCTURES AND THE IMPLICATIONS FOR CHANNEL

RELATIONSHIPS – UNIT 9

This unite has introduced the types of market structures that now exist in a variety of market sectors, and

the nature of the channel structures and relationships that exist within these markets. The unit has focused on

the changing nature of market structures and on the impact such change is having on channel behavior.



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Traditional market structures are being radically changed, particularly through new entrants into the market

place changing consumer preferences and technology. The new market structures that have evolved from the

process were then analyzed, with various examples selected to demonstrate the nature and impact of the

changes that have occurred.

Channel relationships within and across diverse markets have been investigated for quite some time. Yet

findings from these studies over the last forty years or so have been far from conclusive. Channel researchers

investigate interrelationships between the behavioral constructs of role performance, dependence, conflict,

satisfaction, and influence strategy. Indeed, a review of representative comparative channels research

literature brings to surface striking similarities in terms of shaky conceptual frameworks, less than robust

construct measures, and insufficient caveats in explaining and applying research findings. For channels

research to gain relevance in todays globalized marketplace, greater sophistication is necessary in

formulating and implementing comparative studies. An overarching framework is necessary to explain, if not

incorporate, similarities and differences in channel interactions around the globe.

From this, the implications for channel relationships between retailers, wholesalers and manufacturers

were considered. The traditional relationships that were an established part of the traditional market

structures and conditions, focused very much on conflict and mistrust. Mass advertising and brand building

were the common strategies adopted by brand manufacturers. Traditionally, power lay in the hands of the

manufacturer or wholesalers, and such strategies worked. As new market structures evolved, the balance of

power shifted away from the manufacturer. The outcome of this change in the grocery sector was the growth

of own-label brands at the expense of manufacturer brands.

The unit outlined the increasing recognition by manufacturers, wholesalers and retailers that conflict and

mistrust were not the most effective way of managing channel relationships. Problems of oversupply, falling

profit margins, increased retail competition and changing consumer preferences, all pointed to the need for a

new approach. The unit assessed the implications for the new approach, based on partnership and trust.

Exploitation of new technology, improved supply chain management and relationship marketing were some

of the responses to the new climate that were identified and explored.



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2. WITH REFERENCE TO YOUR OWN LEARNING, SUMMARIZE HOW YOU WILL BE

ABLE TO UTILIZE THESE THEORIES WHEN WORKING IN AN EVERYDAY

SITUATION.

Marketing is everywhere. Formally or informally, people and organizations engage in a vast number of

activities that could be called marketing. Good marketing has become an increasingly vital ingredient for

business success and marketing profoundly affects our day-to-day lives. It is embedded in everything I do,

we people do-from the clothes we wear, to the Web sites we click on, and to the ads we see. Good marketing

is no accident, but a result of careful planning and execution. Marketing practices are continually being

refined and reformed in virtually all industries to increase the chances of success. However, marketing

excellence is rare and difficult to achieve.

Marketing is both an “art” and a “science”-there is constant tension between the formulated side of

marketing and the creative side. It is easier to study the formulated side, which will occupy most of our

attention. A key ingredient of the marketing management process is insightful, creative marketing strategies

and plans that can guide marketing activities. Developing the right marketing strategy over time requires a

blend of discipline and flexibility. Companies must stick to a strategy but must also find new ways to

constantly improve it. Marketing strategy also requires a clear understanding of how marketing works.

As for me, in my future carrier I want to build a business around what‟s currently happening in my life.

And, at the moment that‟s about finding a new direction. I did something similar about 3-4 years ago when I

started a newsletter and website documenting my recovery from depression. I didn‟t set out to sell anything

at that time but I got so many questions about my personal experience with depression. In fact, I wasn‟t in a

position to do anything, when I first started the newsletter because, at that point, I was still in the process of

recovery and gaining knowledge and was trying to work out a strategy that worked for me.

That gives me hope that maybe I can create a business from where I am now in my life, from what I‟ve

learned along the way and from where I go from here. I‟m quite keen to create some sort of vision for where

I want to end up, so I‟ll know how I‟m progressing but, at the same time, I want it to be flexible enough to

allow me to adapt as things change. I‟m trying hard to gain as much knowledge as possible that will give me

the clear picture how to structure, market, position and sell the product which I will be creating in my future

life. The course gave me a great hope and assistance in my experiences as I studied those things I have never

heard before.

Telling a personal story is a very powerful marketing technique, even when the story is made-up, so when

the story is real it ought to be even more powerful. Well, as I said, I just don‟t seem to be able to walk away

from the attraction of internet marketing. But, at the same time, I‟ve incredibly bored with what I‟ve been

doing and I‟ve not even been covering my expenses. So this is an experiment. Can I move my life on and

create a profitable business whilst keeping it fun and motivating? Money has never been a sufficient

motivation for me but “beating the system”.

Although I want to start everything from simple and flexible it does not mean that I‟m planning to stop on

it. My target is to go on and achieve the maximum of my possibilities. Marketing course is a big stimulation

together with the enough background to start my own business. Know I can proudly say that I have studied

and reached from this course gives the confident to set up a business that will guarantee my future live, even

though no one is guaranteed it today‟s life.

marketing diploma course - final examination

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