The term ‘marketing’ is a fairly broad one as it can cover everything associated with both developing and selling a product. For those interested in the field, an HND in business marketing management can allow you to gain the essential knowledge you require through a modular course.

Explain the characteristics of different business markets

Some incorrectly assume that marketing simply relates to the promotion of a product or service. However, this is just one strand of a much wider process that an HND business marketing management course can help highlight. The term ‘marketing’ applies to anything involved in meeting the needs of one or more customer groups. A straightforward way of summarising this might be to focus on the four ‘Ps’ of characteristics of different business markets marketing.

Characteristics of different business markets

Product

Obviously, without a product or service that meets a need or a specific set of needs, the selling process falls flat. Developing this closely in line with the genuine needs of consumers is therefore the first crucial starting point.

Price

The degree of HND Business and Management course studies the right product or service won’t count for much if the price is not suited to the particular demographic(s) being targeted.

Place

The distribution of products/services and the places where they are available from will also have a major bearing on how well the needs of customers are being met. It takes a degree of strategic thinking to plan this, and the course itself will go into more detail about how this is implemented.

Promotion

This is perhaps the most widely appreciated stage of the marketing process – it is focused on the best way to communicate a product or service brand offering. Naturally, in the digital age, the number of routes that can be taken with regards to promotion are multiple.

Off and online advertising, public relations and social media campaigns are just three broad methods that are used, with most brands preferring a combination of all three in order to ensure consumers are reached in an increasingly crowded marketplace.

Selecting the right course for business marketing management

There are many HND courses in business marketing out there. However, we are confident that our college in Ilford offers a comprehensive course in terms of providing an in-depth insight into the individual areas outlined above, as well as ensuring that there is a strong focus on selling in the digital age and reaching consumers on a global, instead of only a domestic, basis.