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GCSE: Marketing and Markets

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What is the 'marketing mix'?

  1. 1 Businesses use the marketing mix to reach more customers. A common mistake of students is to concentrate on just one aspect of the mix (usually product or promotion) rather than realising that businesses use all four parts of it to meet the needs of its target market.
  2. 2 Product is every aspect of the product itself. This includes its features, appearance, design and the product range. Many businesses will look for a USP (unique selling point) which makes it different to its rivals. The product must be aimed at a particular target market and a business will need to decide this in advance.
  3. 3 Price is the amount that it charges customers. There are several strategies that can be adopted here e.g. competitive pricing (basing your price on competitor’s prices), cost plus pricing (adding a mark up to the cost of producing the product), penetration pricing (low price to encourage trial). The price should relate to the product i.e. high quality and high price.
  4. 4 Place is where customers can buy the product and how it gets there. This can include supermarkets, boutique stores, online only etc.
  5. 5 Promotion includes all the ways that the customer finds out about the product. A common mistake for students is to think it is only advertising but promotion might also include money off vouchers, sponsorship, public relations. Another common mistake is to not relate the promotion to the product. A small business is not going to advertise on TV.

  • Marked by Teachers essays 7
  • Peer Reviewed essays 8
  1. Marked by a teacher

    T-Mobile Marketing strategy suggestion

    5 star(s)

    This would increase sales with Man United fans and the publicity would be immense considering T-Mobile would be branded on every football kit and across the stadium. The Manchester United stadium alone supports over 76,000 people and this combined with viewers of TV coverage add up to an average of 8million viewers. Manchester United is renowned for reaching finals and in most cases winning them, the last champion's league final reached 14million viewers which means a phenomenal amount of publicity, almost 23% of the British population to be precise.

    • Word count: 861
  2. Marked by a teacher

    Advertising in newspapers and magazines

    4 star(s)

    For example, 3,128,501copies of The Sun are bought daily. However, about 7,986,000 read the newspaper daily; this is because more than one person can read the one newspaper. Advertising in newspapers is quick; this is because they tend to be released daily. If one day, FLE see a promotion advert from their competition in a newspaper they are able to respond quickly with an advert of their own. Newspapers are also targeted, for example, The Sun is targeted at men and therefore had more male readers, FLE can use this information to decide whether a particular newspaper is suitable for them to advertise in.

    • Word count: 1078
  3. Marked by a teacher

    Section 2-Marketing

    4 star(s)

    The primary research we conducted helped us to choose the correct style for the target market, so we could sell more. However, we should have asked more people in the questionnaire, to get a wider range of opinions. We only asked students from the lower end of the school, as we weren't attempting to sell to other pupils. These results showed that people would like to buy celebrity magnets, with images of their favourite celebrities and also would like magnets in the shape of letters.

    • Word count: 1444
  4. Marked by a teacher

    Marketing mix and segmentation of Sony.

    4 star(s)

    So how was this success compromised? Task 1 SEGMENTATION Sony endeavours to understand its customers as much as possible. The marketing segmentation makes the process more efficient and effective. It divides the market into small pieces and targets people who belong to the same group and feel the same desire for a product. Geographic: Sony visibly goes all out for to supply individual customers. The company concentrates its efforts in three key markets: USA, EU and Japan but it is also represented in 200 countries with support in 68 languages. Such a globally segmented market allows the organisation to focus specifically on the needs of their particular markets.

    • Word count: 1933
  5. Peer reviewed

    To what extent will does correlation and extrapolation assist Nintendo in forecasting sales?

    5 star(s)

    The uses of such analysis to Nintendo are to an extent very valuable. By creating a scatter graph like the one above, Nintendo can spot trends and forecast future events. For example, they could estimate demand at a certain point in the coming year. One would expect demand to surge at Christmas time when people are buying each other gifts, and dip in January when (generally) consumers have less money due to spending so much on presents, and figures could be devised to estimate how many units will need to be produced. This allows Nintendo's operations department to build up stocks of goods beforehand in preparation, for example the 'Nintendo Wii' which was under stocked in all major retailers, and hence was selling on eBay (the online auctioning site)

    • Word count: 955
  6. Peer reviewed

    What is positioning?

    4 star(s)

    Marketers can position their products based on the attributes or benefits their product offers and also position their products against a competitor, highlighting the advantages their product has over the competitor. Moreover, marketers can position their products based on usage, product classes or to cater for a certain class of users (Kotter, et. al., 2007). A core element of positioning is establishing a competitive advantage over competitors which is achieved through differentiating its offers via product, services, personnel or image differentiation (Kotter, et.

    • Word count: 1598

Conclusion analysis

Good conclusions usually refer back to the question or title and address it directly - for example by using key words from the title.
How well do you think these conclusions address the title or question? Answering these questions should help you find out.

  1. Do they use key words from the title or question?
  2. Do they answer the question directly?
  3. Can you work out the question or title just by reading the conclusion?
  • To what extent will does correlation and extrapolation assist Nintendo in forecasting sales?

    "Ultimately the use depends on all the previously mentioned factors, some which cannot be accounted for. This leads me to take the conclusion that these statistical tools are not of great worth to Nintendo and they should use a fixed point moving average method to smooth out the overall and underlying trends in their forecasts. This will reduce uncertainty and remove some of the disadvantages and problems which is more beneficial for a large firm such as Nintendo."

  • The beach carrier case study evaluate different issues concerning a beach bag

    "In my opinion, the company should think about reducing the size of the bag. I propose a bag that is about 30 inch that is adjustable to 15 inches. This will allow different customer that have different need to satisfy them. For example some one that wants to bring only a towel and some cosmetic products will not need such a big bag. I also think that a beach bag might be heavy with an umbrella and chairs. For this reason, I believe that it would be interesting to introduce a two shoulder straps bag instead of one. Another possibility is to introduce a product that has the same wheels as a mini quad and that can be droved using a remote control. This will be the most convenient but further research should be made on the cost and the potential market for this product. Concerning the online selling, I think that the best idea is that Ricci should hire a company to help her with security issues. Another alternative would be to hire an intermediary company such as amazon.com that would sell her product online. Finally, I recommend Ricci to think about a targeting an international market in the long run."

  • Critically discuss for one specific brand of your choice, the concept of Integrated Marketing Communication.

    "During the course of this essay, we have seen that combining the tools from the promotional mix, enables the communications strengths of one tool to reinforce those of another, this way target audiences are much more likely to benefit, as is the organisation, in the form of improved effectiveness and delivery of messages. This is evident in Marks and Spencer's 'Per Una' range, where the message of a quality, fashionable range is delivered well across the different elements of 'Per Una's' promotional and marketing mix. We have seen how ranges like 'Per Una' have encouraged a move towards IMC at M&S, and how they have helped M&S put right a number of problems that were previously evident within the organisation, many of which were communication orientated. But by no means has M&S achieved totally integrated marketing communications, they are still a number barriers to integration at M&S, such as their relationship with some of their agencies, but if this can be improved, there seems no reason why M&S cannot achieve total IMC and further enhance their market position. Matthew Flint Candidate number - 013220707 MN - 2007 Marketing Communications Essay Dr. S, Wagner-Tsukamoto 18th May 2003"

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