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GCSE: Marketing and Markets
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What is the 'marketing mix'?
- 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 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 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 Place is where customers can buy the product and how it gets there. This can include supermarkets, boutique stores, online only etc.
- 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.
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Yes No Do you think Coca-Cola has enough limited products? Yes No Would you pay a higher price for Coca-Cola if they did a limited edition? Yes No Analysis What Gender are you in? Male- 50.0% Female-50.0% This shows an even split in gender, this makes my test more reliable and also eliminates some elements of biasness. What Age Group are you in? Under 16- 21.4% 16-24- 19.7% 25-30-20.4% 31-39- 19.6% 40 and above-18.9% Overall this is a fair age split however the older age groups have a slightly lower percentage, this could possibly affect my overall analysis and conclusion.
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Ice cream consumption is also becoming less seasonal, as the product is now serving as a snack throughout the year, sales are then likely to be stable rather than rising and falling through out the year. Growth in ice cream sales may also be attributed to rising levels of disposable incomes, allowing consumers to but non-essential foods frequently. Stability in sales is sales is a strength of the product as it has consistency. Whittakers' Honey and Nut ice cream range is a unique product on the market.
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These include social, educational and cultural development. * Responds quickly to people's wants. It becomes profitable to produce goods and services that people want and afford to buy. Resources are quickly sent to the market to produce such goods and services. * If the goods are not wanted, it becomes unprofitable and resources are directed away into more profitable uses. * In planned economy, planners may not know consumers wants and may make wrong decisions leading to shortage of some goods and surpluses of others.
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And if my business could afford to do this then I think it would be a great way to promote my service and products. For example if I wanted to make a television advert that lasted 30 seconds it would cost the business at least �1000, if the business wanted to play the advert at different or more popular times of the day then it would cost more.
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As the business has progressed I think that it has now formed in to a Public Limited Company. The reason I think this is because as the business has got bigger and franchised the company's shares have been offered for sale to the general public and members' liability is limited to the amount unpaid on shares held by them. I think the aims of the business are to provide a hairdressing service that will suit everybody and will be able to offer people exactly what they want. Also I think the business wants to provide quality to ensure the respect and approval of customers so that they will return.
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My business characteristics are very simple; various different popular brands all under one roof at a reasonable price. I also need a way to develop my store, maybe if one brand goes out of fashion, and can substitute it with another which is in fashion to draw more of the fashion public. Local Competitors: The competitive market of fashion has always been very highly priced and very smartly situated. In St. Albans my fashion retail store has one main competitor, David Copperfield situated on the much populated St Peters Street running through the centre of the city. David Copperfield is a clever but widely expensive outlet, its variety of different clothing brands draw the public because of the outbreak of fashion.
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The first method is 'Questionnaires'. A 'questionnaire' is a form consisting of a series of questions set for respondents to answer. It is also the most common method of collecting data for marketing decisions. The advantages of a questionnaire is that firstly, a business can decide exactly what questions it needs to ask. Secondly, everyone is asked the same questions. Also, when done face to face or over the phone, the questions can be explained. And a questionnaire is easy to analyse, especially by using ICT.
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Next, I will start to study some sources of information such as textbooks and websites where I can highlight the sources of information, which I shall need. I will then explain the order of tasks I have chosen later on. I will start to research the topic from task 2 being that I shall create a survey to highlight potential consumers for the shop, and shall also aim to get the survey completed. I will do this by using my normal textbook and will type it up on MS word.
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Promotion. I will use below-the-line promotional methods that do not involve the media. Firstly I will offer free samples to customers so that they are able to taste the deserts and treats that we offer before purchasing them for the full price.
Secondly I will use point-of-sale displays and place my product on a special stand for displaying. Finally I will intend to use price reductions and I hope that this will tempt customers to try one of my products that they might not otherwise buy. This will be good for customers walking by as they will see my business and will straight away be temped into trying out my product. Finally I will use flyers and signs which will let people know from home about my business and also I will place any deals and offers that I am running on my shop window in order to raise local resident's awareness of my shop.
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Societatea mai detine Carmangeria pe raza localitatii Dumbraveni,aflata in conservare si Poiana Dumbraveni(fosta Gradinita) cu posibila destinatie pensiune agro-turistica. FERMA nr.1 Hoghilag - profil mixt ( pomicol + vegetal + viticol ) Ferma nr.1 este situata in comuna Hoghilag, avind ca obiect principal de activitate pomicultura ( in principal livezi de meri ) si are in administrare si exploatare suprafete mici de teren arabil si finete. FERMA nr.2 Laslea - profil vegetal Ferma nr.2 este situata pe teritoriul comunelor Laslea si Danes si are ca obiect principal de activitate cultivarea plantelor furajere necesare pentru cresterea animalelor de la fermele zootehnice.
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Stakeholders are important to a charity organisation without them the company would get bankrupt and wouldn't even exist. P2 - Stakeholder who influence the purpose of the organisation Stakeholders are individuals or groups that have some claim on the company. They can be divided into internal claimants and external claimants. Internal claimants are stockholders and employees including executive officers and board member while external claimants are all other individuals and groups affected by the company's actions. Typically, they comprise of customers, suppliers, governments, unions, competitors, local communities and the general public.
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per hire was agreed. From this modest man venture grew the renowned Moss Bros Hire service, which now operates in most high streets in the country and hires out more than 6000 suits each week at the height of the season. After the Boer War, Military men came to Moss Bros for their everyday needs not for their uniforms. A solider recommended Moss Bros to all his friends and this is how the Military Department was born. In 1914, Alfred made the firm into a limited liability. His nephew Monty Moss, a skilled buyer and a member of the team.
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Thorpe Park is a wonderful place in which to mix with pleasure. If you are looking for a venue that offers you something truly unique for between 50 - 7,000 guests, this is it. As a business Thorpe Park's main objective is to make a profit against its competitors such as Alton Towers, Chessington World of Adventures, etc. In a addition, Thorpe Park hopes to use new rides very effectively in terms of customers and cost. Firstly according to visitors, mixed type of customers will come to Thorpe Park, in other words, anti-social customers.
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The website address is http://www.bbc.co.uk/. The website complements offline services, as they offer information about several offline activities such as television and radio broadcasts. However the BBC has a dedicated shopping website (www.bbcshop.co.uk) which offers BBC products. This website invites online transactions as products can be brought online. The company broadcasts television and radio programmes this is the core business activities, they have several television and radio channels across terrestrial and digital TV. The company also sells products such BBC audio and video from their programmes.
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Their technological and innovative approach allows the New World competitors to meet their consumers' needs and tastes better while the French are stuck with the AOC regulations. The AOC regulations are really only applicable to "fine wine" that has minimal value market share according to Exhibit 4. With France's limited amounts of available land, AOC regulations only make it difficult to adjust to the consumer's changing tastes. The New World producers have a lot more natural resources that allow room for changes.
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These items of jewellery are all &&& This gives the boats a luxury and along with the James Bond character, as a classy look. They also sponsor many different projects, including a touring car championship team and have many free stalls at many important boat shows such as Monaco and Sydney. This immediately gives a brilliant reputation to the business and makes people think about them. They also have many skilled employees that are loyal and brilliant at what they do.
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2.1 THINGS THAT SHOULD BE CHANGED. Looking at my S.W.O.T analysis it shows that one of the biggest weaknesses of the zoo is the hills, understandably there is not much that you can do about this, one solution that I suggest is that the zoo could make the train track longer where it can pick people up at the top of the hill and drop them off at the bottom. Using one of the results of my secondary research it shows that 80% of people stayed at the zoo for 3-5 hours, the way that the zoo could increase the
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Market research is also important to us as it will give us a idea of how successful our business could be, because if you do a questionnaire and from the results you find out people want cheaper prices for their medication and medical supplies they will go looking somewhere else for cheaper supplies and you will loose potential customers . My Market Research Questionnaire Why use questionnaires for market research? I have decided to use a questionnaire to conduct my market research because it is a good way to attract customers; I can find out what needs to be improved; and it is easy to analyse.
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I will now point out the advantages of using a questionnaire, and give an example of such a questionnaire. Reasons why a questionnaire is a useful option for gathering marketing information, in comparison to other methods, will also be included. I will also include a method to use for sampling Week 4: 12) I will explain the reason behind the questions in my questionnaire 13) I will then place these results in a database 14) The results form the questionnaire will be explained, and the effect they have on the marketing of the snack 15) At this point I will analyse advertising costs, using the information that I have gathered Week 5: 16)
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Yes[ ] No[ ] Don't know [ ] 6. Do you know where you could purchase the product from? Yes[ ] No[ ] Don't know [ ] 7. Have you ever used the product? Yes[ ] No[ ] Don't know [ ] 8. Do you think the product is sold at a reasonable price? To high [ ] Cheap [ ] Reasonably priced [ ] 9. Do you think the product is suitably advertised? Yes [ ] No [ ] Don't know [ ] Answer only if you own the product 1. How did you first hear about the product?
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There are many reasons why promotion is important and their main aims are: To persuade people to buy their products To create a good reputation and change peoples attitudes and views. To provide simple information and inform them of new or changed products. To maintain or increase sales. To try and keep your business in advance and ahead of other competitors. These are the main aims and to target these you have variety of promotional methods which are: Sales promotion: Is methods used when marketers decide to promote their products b directly encouraging people to buy them.
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Most markets contain a market segment willing to pay premium prices for the finest products. Haagen Dazs is the worlds leading ice-cream brand name and has been sufficiently triumphant more than doubling the size of the ice-cream market sector from �45million to an astonishing �94million. The strategies which they used to launch their product changed the way British eat ice-cream. Starting off with three flavors, vanilla, chocolate and coffee the company had grown into a mass producing, mass money making business now manufacturing hundreds of flavors.
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The next step in the procedure is to draw up a job advertisement. Job specifications and requirements are clearly displayed. Other information such as wages and benefits are also present on the job advertisement. Job requirements could mean being computer literate or being a good driver and familiar with commercial vehicles. On the other hand, job specification is details on working hours and wages. After the advertisement has been designed and published, it is displayed in magazines, notice boards and British Airways' website. The firm ensures that the job is first advertised internally and if the right candidate is not found this way, the job is advertised externally.
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Market research - The business I have chosen is an internet caf. This is not an ordinary internet caf because I have modelled my business on an internet caf that has games installed on the computers.
I go to the only competitor sometimes, so I know their products, services and prices. The products and services I will provide are the games pre installed on the computers and drinks and snacks that will be sold. There will also be a quite area for those who are looking for a quite area; there will also be a non-gaming area for people that just want to work. The target market I am aiming this business at is teenagers. I think this is the appropriate target market for this business because I feel that teenagers are more likely to play games on computers rather than adults.
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