4.2 Marketing Planning (including introduction to the 4 P's)

Assessment Objectives
The elements of a marketing plan	AO1
The role of marketing planning	AO2

• The Ingredients of a Marketing Plan – Entrepreneur magazine gives their take on the essential elements of a marketing plan.

Assessment Objectives
The 4 P's of the marketing mix	AO2
An appropriate marketing mix for a particular product or business	AO2, AO4
The effectiveness of a marketing mix in achieving marketing objectives	AO3

• The Marketing Mix and the 4Ps of Marketing – Mind Tools explains the 4 P's of the marketing mix and how it is used.

Assessment Objectives
The difference between niche market and mass market	AO2

• Niche market – The Economist explaining niche and mass markets and the connections between the two.

• Q&A - What is the difference between niche and mass marketing?

Assessment Objectives
The difference between target markets and market segments	AO2
Possible target markets and market segments in a given situation	AO4
How organisations target and segment their market and create consumer profile	AO2

• Target Markets – the latest news and articles about target markets from Entrepreneur.

• Expect more video ads on your YouTube screen and Facebook feed next year

Assessment Objectives
A product position map / perception map	AO2, AO4

• What Is Perceptual Mapping in Product Development? – a brief explanation of position/perception maps.

Assessment Objectives
The importance of having a unique selling point/proposition	AO2
How organizations can differentiate themselves and their products from competitors	AO3

• Unique Selling Proposition (USP) – USP defined and tips for small businesses and entrepreneurs.

• Starbucks Revives The Unique Selling Proposition – a case study from Forbes.