Marketing Practice 5N1400

The Marketing Practice 5N1400 QQI Level 5 minor award helps to equip the learner with the knowledge, skills and competence to operate effectively in a range of marketing related contexts and enable learners to understand and apply the principles and practices of marketing so as to be able to work effectively in a range of organisations. Topics covered include:

• Explore the role of marketing in a range of organisations
• Differentiate between Business to Business and Business and Consumer markets
• Examine the elements of the Marketing Mix, to include Product, Price, Promotion and Place
• Explore the stages in the buying and purchasing decision making process for organisations and consumers to include the characteristics and factors affecting buying behaviour
• Analyse the role of Market Research, differentiating between primary and secondary research and quantitative and qualitative research methods
• Examine the life cycle of a range of products to include the role of new product development, design, packaging and branding on the marketplace
• Analyse elements of price setting to include a range of pricing techniques and strategies, competitor pricing and organisational and market conditions in Fast Moving Consumer Goods (FMCG), durables and service sectors
• Explore elements of the promotional mix to include, budget, appropriate mix for different products and services and the effectiveness of different promotional strategies
• Examine the role of distribution in the marketing mix to include the types of distribution channels and the selection of appropriate distribution channels for a range of products and services
• Carry out market research applying appropriate techniques and research methodologies
• Analyse market research results, drawing appropriate recommendations
• Apply the concept of product life cycle, tracing the life cycle for a range of products
• Apply an appropriate element of the promotional mix to develop promotional plan for a product or service
• Conduct a SWOT (Strengths, Weakness, Opportunities and Threats) analysis
• Evaluate the effectiveness of marketing strategies for a range of products and or services, including the influence of branding, the pricing strategy, the elements of the promotional mix and the influence of the distribution channel on supplier and end user
  Develop a marketing plan for a specific product and or service.