Aleksandre Ananiashvili Marketing Diploma Course - Final Examination

Student ID: S12976 – ANA010NN Stonebridge Associated College

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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Aleksandre Ananiashvili Marketing Diploma Course - Final Examination
Student ID: S12976 – ANA010NN Stonebridge Associated College

TABLE OF CONTENTS
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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Aleksandre Ananiashvili Marketing Diploma Course - Final Examination
Student ID: S12976 – ANA010NN Stonebridge Associated College

 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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Aleksandre Ananiashvili Marketing Diploma Course - Final Examination
Student ID: S12976 – ANA010NN Stonebridge Associated College

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 P RODUCTION 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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Aleksandre Ananiashvili Marketing Diploma Course - Final Examination
Student ID: S12976 – ANA010NN Stonebridge Associated College

 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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Aleksandre Ananiashvili Marketing Diploma Course - Final Examination
Student ID: S12976 – ANA010NN Stonebridge Associated College

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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Aleksandre Ananiashvili Marketing Diploma Course - Final Examination
Student ID: S12976 – ANA010NN Stonebridge Associated College

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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Aleksandre Ananiashvili Marketing Diploma Course - Final Examination
Student ID: S12976 – ANA010NN Stonebridge Associated College

 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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Aleksandre Ananiashvili Marketing Diploma Course - Final Examination
Student ID: S12976 – ANA010NN Stonebridge Associated College

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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Aleksandre Ananiashvili Marketing Diploma Course - Final Examination
Student ID: S12976 – ANA010NN Stonebridge Associated College

 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:

 P RODUCT

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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Aleksandre Ananiashvili Marketing Diploma Course - Final Examination
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 P RICE

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

 P LACE

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.

 P ROMOTION

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.

 P EOPLE

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.

 P ROCESS

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.

 P HYSICAL (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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Aleksandre Ananiashvili Marketing Diploma Course - Final Examination
Student ID: S12976 – ANA010NN Stonebridge Associated College

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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Aleksandre Ananiashvili Marketing Diploma Course - Final Examination
Student ID: S12976 – ANA010NN Stonebridge Associated College

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 P ROCESS

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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Aleksandre Ananiashvili Marketing Diploma Course - Final Examination
Student ID: S12976 – ANA010NN Stonebridge Associated College

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.

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