Level 2 Marketing BTEC

This subject is broken down into 34 topics in 7 modules:

  1. Exploring the Marketing Mix 5 topics
  2. Understanding Customer Needs 5 topics
  3. Market Research and Data Analysis 5 topics
  4. Digital Marketing and Social Media 5 topics
  5. Events, Exhibitions, and Sponsorship 4 topics
  6. Promotional Activities and Branding 5 topics
  7. Sales Techniques and Processes 5 topics
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  • 7
    modules
  • 34
    topics
  • 13,043
    words of revision content
  • 1+
    hours of audio lessons

This page was last modified on 28 September 2024.

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Marketing

Exploring the Marketing Mix

The 4Ps: Product, Price, Place, and Promotion

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The 4Ps: Product, Price, Place, and Promotion

The Marketing Mix: The 4Ps

Introduction

  • Understand that the Marketing Mix is a critical business tool.
  • Recognise the 4Ps: Product, Price, Place, and Promotion, as the key components of the Marketing Mix.
  • Appreciate that the Marketing Mix is used to satisfy target customers and achieve business goals.

1. Product

  • Define product as anything a business offers to satisfy consumer needs or wants.
  • Recognise the product life cycle: introduction, growth, maturity, and decline.
  • Understand that a product’s features, benefits, and branding can help distinguish it from competitors.
  • Know the importance of the product's quality and design in customer satisfaction and loyalty.
  • Differentiate between tangible goods and intangible services.

2. Price

  • Define price as the amount of money a customer pays for a product or service.
  • Understand the role of pricing strategies such as cost-based pricing, competitive pricing, and value-based pricing.
  • Appreciate the balance between pricing for profit and pricing to achieve sales and market share.
  • Acknowledge that price can reflect a product's perceived value and positioning in the market.
  • Recognise that pricing decisions can be influenced by factors like cost, competition, and customer demand.

3. Place

  • Define place as the location where a product or service is offered.
  • Understand distribution channels such as direct selling, retailing, and wholesaling.
  • Learn about choosing the right distribution methods to reach target customers effectively.
  • Realise the influence of e-commerce and digitisation on distribution.
  • Appreciate the importance of distribution in product availability and convenience for customers.

4. Promotion

  • Define promotion as activities aimed at communicating with customers to encourage purchases.
  • Understand the components of the promotional mix, which include advertising, public relations, sales promotion, and personal selling.
  • Recognise that effective promotional strategies can increase product awareness, interest, and sales.
  • Appreciate the impact of digital marketing and social media on promotional activities.
  • Acknowledge the role of a well-developed promotional strategy in building a strong brand image.

Course material for Marketing, module Exploring the Marketing Mix, topic The 4Ps: Product, Price, Place, and Promotion

Marketing

Digital Marketing and Social Media

Social media platforms and their functionality

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Social media platforms and their functionality

Understanding Social Media Platforms and Their Functionality

Facebook

  • Facebook is a popular social networking platform that connects millions of people across the globe.
  • Through Facebook, individuals can create profiles, post text updates, photos, and video content, and engage with other users' content through reactions, comments, and shares.
  • Businesses can set up Pages, Groups, or use Sponsored Ads to promote their products or services, effectively reaching their specific demographics.

Twitter

  • Twitter is a microblogging service that allows users to post and interact through messages known as "tweets."
  • These tweets can include text content, pictures, links, and short videos. Users can "follow" others to receive their tweets in their feed and interact by replying, retweeting, or favouriting tweets.
  • It is an excellent platform for real-time updates, news, quick customer service, and trending topics using hashtags.

Instagram

  • Instagram is a photo and video sharing platform primarily used from mobile devices.
  • Users can upload photos or videos, edit them with various filters and tools, and share them on their profile or with their followers.
  • Businesses leverage Instagram to visually showcase their products or services, and can use tools like Instagram Stories, IGTV, Instagram Live, and Shopping on Instagram to engage customers.

LinkedIn

  • LinkedIn is a professional networking site that allows users to create professional profiles, connect with colleagues, apply for jobs, join industry groups, and engage with professional content.
  • Businesses can create a LinkedIn page to share company news, post job openings, and engage with followers by sharing relevant industry news and updates.

Snapchat

  • Snapchat is a multimedia messaging app where users send snaps (pictures or short videos) that disappear after being viewed, creating a sense of urgency and exclusivity.
  • Businesses can use Snapchat to share behind-the-scenes content, promotions, or unique codes. They can also create branded filters for users to apply to their snaps.

YouTube

  • YouTube is a video-sharing platform where users can upload, view, rate, share, and comment on videos.
  • It's used by businesses for showcasing product tutorials, customer testimonials, behind-the-scenes content, and more. They can also use YouTube ads to promote products or services to targeted demographics.

Pinterest

  • Pinterest is a virtual pinboard that allows users to discover and save creative ideas.
  • Users browse pins for inspiration, 'save' ones they like for later, or 'follow' boards or people whose taste they trust.
  • Businesses can use Pinterest to showcase their products, inspire audiences, and drive traffic to their website.

Choosing the right platform for your digital marketing strategy depends on your target audience and the type of product or service you offer. Understanding the functionality of each platform is essential to leverage its full potential effectively.

Course material for Marketing, module Digital Marketing and Social Media, topic Social media platforms and their functionality

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