ASSIGNMENT 1 FRONT SHEET

Qualification BTEC Level 4 HND Diploma in Business

Unit number and title Unit 2 Marketing Processes and Planning

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Re-submission Date Date Received 2nd submission

Student Name PHAM VAN DUY Student ID BH00153

Class BA0501 Assessor name Ngô Thế Nam

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I) INTRODUCTION
II) MARKETING
2.1) Definition of Marketing
- According to Philip Kotler's definition of marketing: "Marketing is a form of human
activity aimed at satisfying their needs and wants through exchange." Marketing is a
social and managerial process by which different individuals and groups obtain what
they need and want through creating, providing and exchanging products of value. with
others.
- Marketing exerts a strong influence on the beliefs and lifestyles of consumers.
Therefore, business people find ways to satisfy the wants and needs of consumers,
creating products and services at prices that consumers can pay.
- The scope of marketing use is very wide in many areas such as: pricing, inventory,
packaging, branding, operations and sales management, credit, shipping, social
responsibility, retail location selection, consumer analysis, wholesale and retail
operations, evaluation and selection of industrial buyers, advertising, social relations,
corporate marketing research, planning and product warranty.
2.2) Features of Marketing
- Needs : The starting point of strategic marketing thinking is the needs and wants of
people. People need food, water, air and shelter to survive. Besides, people also have
strong aspirations for creativity, education and other services.
- Wants : Human desire is an urgent need with a specific form, corresponding to the
cultural level and personality of each person. Wants are expressed in concrete things
capable of satisfying needs in a way to which the cultural life of that society is familiar.
As society develops, the needs of its members also increase. People are more and more
exposed to objects that arouse curiosity, interest and desire. Manufacturers, on their
part, always direct their activities to stimulate the desire to buy and try to establish an
adaptive connection between their products and urgent human needs.
- Demands : Human needs are wants with conditions of ability to pay. Wants become
needs when backed by purchasing power. Humans are not limited by their desires, but
by their ability to satisfy them. Many people want the same product, but only a few are
satisfied by their ability to pay. Therefore, in marketing activities, businesses must
measure not only how many people buy their products, but more importantly, how
many people are able and willing to buy them. In the process of implementing
marketing as a business function, marketers do not create needs, needs exist
objectively.
- Product : The urgent needs, wants and needs of people suggest the presence of
products. A product is anything that can be marketed, noticed, received, consumed, or
used to satisfy a human need or want.
- Benefit : Usually, each buyer has a limited income, a certain level of product
knowledge and buying experience. Under such conditions, buyers will have to decide
which products to buy, from whom, and in what quantities in order to maximize their
satisfaction or total benefit from consuming those products. Total customer benefit is
the totality of benefits that customers expect from a given product or service, which
may include the core benefit of the product, benefits from the services associated with
the product, the quality and ability of the manufacturer's personnel, the reputation and
image of the enterprise.
- Cost : Total customer cost is the total cost that the customer has to pay to get the
product. It includes the time, energy and mental costs of searching and choosing to buy
a product. Buyers evaluate these costs along with monetary costs to get a complete idea
of the customer's total costs. In the stage of buying and selling products, the above
solutions make it easy for buyers to buy what they want and sellers to sell their
products. But in the consumption stage, the seller needs to know if the buyer is satisfied
with what they expect from the product.
2.3) Overview and role of Marketing
2.3.1) Overview of Marketing
Marketing, understood in a simple way, is the strategies and actions of a business to
convey a message to its customers, with the aim of increasing revenue, and improving
brand awareness. In fact, marketing is a concept that is familiar and close to everyone.
However, it seems that many people still have difficulty in separating the two concepts:
sales and marketing. Marketing does not only exist in the process of selling and
bringing products to the public, it also appears in all stages of the formation and
development of a brand, product or service, from beginning to end.
- Marketing is not only an individual activity but it is a whole process, a collection of
activities from the 4P, 7P, 4C model. The combination of such a series of activities is
called the marketing mix. Marketing today develops strongly in many fields: industrial
marketing, commercial marketing, tourism marketing, service marketing, non-business
marketing (political, cultural, social, medical).
2.3.2) Marketing's role
- Bring information : At the foundation stage, marketing is very useful for educating
customers. In other words, for customers to buy your product, they need to know what
your product does and how it works. Marketing is the most effective way to
communicate your values to customers. That is why, for specific products, businesses
need to invest a lot in marketing activities.
- Maintain the frequency of business presence : Marketing is seen as a way to increase a
company's presence, not as a way to make up for a lack of interaction between a
company and its customers. In other words, Marketing is a tool that businesses need to
build and manage every day to keep good relationships with their customers. Marketing
is a long-term campaign to help a business grow.
- Build connections with customers : Connecting with customers is the key to the
success of any business, especially for SMB businesses. Marketing helps solve the
question of how to stay engaged with customers even after they have completed a
purchase. In the past, customer interaction took place directly inside stores. But at the
moment, that is not enough. Businesses need Marketing, with intermediary tools, to be
able to send customers content to help increase connection with customers anytime,
anywhere.
- Help increase sales : Marketing is important because it makes it possible for
businesses to sell products or services. Let's say you have a great product, but how can
you sell it when no one knows about it? SMB businesses need to build novel and
inviting content to attract customers and make them buy.
- Business Development : Marketing is an important strategy to ensure the growth of
the business. Marketing not only helps you connect with existing customers, but also
reaches more new potential customers, through social media posts and email
campaigns. In short, marketing helps secure the future of your business by connecting
with all your customers, new or old.