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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.
- Marked by Teachers essays 7
- Peer Reviewed essays 8
Therefore, building relationships with customers creates mutual rewards (Rapp and Collins, 1990, pp 45-189) that benefit both th? company and th? customer. By building relationships with customers, an organization can get th? quality of th? sources of marketing intelligence for better planning of marketing strategy. It is therefore important to examine empirically th? impact of th? foundations of relationship marketing customer loyalty. This agreement will contribute to better management of th? firm-client relationship and achieve ? higher level of customer loyalty. Th? study reported here examines th? impact of four bases of relationship marketing - trust, commitment, communication, conflict management and - in loyalty to th?
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It is also the second biggest theme park in the world. Good and Services Alton Towers Provide: * The theme park itself (rides) * Food Outlets * Water parks * Accommodation (3 hotels) * Well known Food Outlets (KFC, Burger King, Pizza Hut) Alton Towers also has customer services, where a help desk help customers in the case of being lost, loosing friends or loosing children. They also provide storage for visitors to put bags and belongings so they don't have to carry them round.
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- Page 7 * The Economy - Page 8 * Marketing Campaign- price, promotion strategies what is available what will I choose? - Page 9 * List of activities for marketing - Page 10 * Unique Selling Point - Page 11 * Costs - Page 12 * Different promotional activities - Page 13 * Sponsorship - Page 14 * Public Relations - Page 15 * Marketing Plan - Page 16 * Example of marketing - i.e. flyers, leaflets, radio script etc based on your choice of marketing activities - - Page 17 * Final costs of the campaign - Page 18 * Recommendations and Conclusions - Page 19 - Marketing campaign opportunities 1.
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My business will sell gym/combat sports equipmentBefore I start my business I will need to choose my businesses smart objectives, it is crucial for a business to have these SMART objectives.
types of staff will be hired T- I will have all these objectives done by 7-10 months in the 1st year of the business being set up Research methods- Internet, Business studies online, Revision guides Part Two Location of my business I have found a location for my business and have decided to locate my business at 5a New Road, Bromsgrove, Worcestershire, B60. I looked into many sources e.g. Internet, Estates agents (Andrew grant) etc in finding a suitable commercial property to locate my sports retail company.
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Product Even though, almost without exception, a new attraction is launched every year and the main launch communication will focus on that, general communication about the rest of the Park is required. Thorpe Park provides a whole day out and they are not just about the rides. They have many other attractions like: * Places to eat. * Games. * Photography. * And the atmosphere which plays an important part in delivering a great day out. Thorpe Park's Prices and ticket offers I did some research on Thorpe Park's website on the prices on how much their tickets would be to enter the theme park.
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It will be different to other pizza brands as I will have a home made recipe of tomato sauce and in my restaurant all our pizzas will be made form a wood fire over Aims, Mission Statement and Constraints. An aim is to attempt or intend to reach a certain goal. A mission statement is a brief statement of the purpose of a company, organization, or group. Companies use this as general objectives and principles of operation of an organization.
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If a sales representative is not familiar with a particular product they cannot sell, so it is important for them to have a wide knowledge of the products and services which the organisation is selling. They must be familiar with things like the extreme sufficient of how these products and services can be used and convince the customer of its value. Product knowledge is extremely essential for staff because this allows them to answer specific questions and also talk about queries which may be involved or arise, it will also help them deal with problems and engage with the customers a bit more.
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questionnaire 19/06/08 24/06/08 I used excel to draw the graphs and showed the interpretations. 11 Define target market questionnaire 26/06/08 27/06/08 Used questionnaire to describe it 12 Explain why business undertakes competition survey Myself 28/06/08 28/06/08 Explained it with ease 13 Do competition survey www.yell.com 30/06/08 1/07/08 Got information and put it into a table. 14 Carry out location on map Map of town 2/07/08 2/07/08 Used map to note it all. 15 Produce neat colour coded map Map of town, competition survey 3/07/08 3/07/08 Coloured direct, indirect and friendly competition. 16 Assess strengths and weaknesses of all information. Competition survey, consumer survey 4/07/08 4/07/08 Used both surveys to identify the strengths and weaknesses.
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Target Markets 2009 2010 2011 2012 2013 Potential Customers Growth Professionals 9% 124570 135780 148000 161320 175840 Housewives 8% 145440 157080 169650 183220 197880 Total 8.47% 270010 292860 317650 344540 373720 2.1.1 Market Demographics The profile for Monaco's customer consists of the following geographic, demographic, and behavior factors: Geographics * The immediate geographic target is Cape Town with a population of 2,500,000. * A 45 mile radius is in need of the products. * The total targeted population is estimated to be 127,000.
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Name the textbook you use. Name the people who helped you. Name the organisations have you used. Give the address of websites that you use. WHEN WILL I FINISH IT? Put in dates for each task. DID I ACHIEVE IT? WERE THERE ANY PROBLEMS OR CHANGES? ANY OTHER COMMENTS? Explain any difficulties you had in getting information or completing the task by the date you planned. Task 2a) I need to decide on my business and its name. For my coursework I needed to investigate other business and what type of business would be the best to open I will make this information up 26-01-07 At first I could not decide what business to base my coursework on, but then I chose a bakery because I had also based my Information and Communications Technology coursework on.
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It has been linked more with the centre product. Customer service is connected with developing a bond with my customers in order to create long-term relationships that lead to advantages for all groups. It does not just happen. It is a process which involves pre transaction, transaction and post transaction considerations. importance upon customer service will change from one product to another. Process management This will involve all of the procedures, tasks, mechanisms and activities through which my service will be given to the customers. In my business the processes are a key part of the marketing mix, concerning on initial priorities and ways of meeting customer need.
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I have decided to situate my restaurant in Newcastle because Newcastle is capital of the north east where I live and recently has had one of the fastest growing tourism industries in the world. In the last five years it grown to be culturally diverse city and according to the BBC Newcastle has one of fastest growing metropolitan areas and is clearly a city which is completing the transition from being a major mining city to a largely an administrative and cultural centre with two universities - Newcastle and Northumbria.
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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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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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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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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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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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WHAT INFORMATION DO I NEED? What do you need to find out in order to complete the task? WHERE WILL I GET IT FROM? Name the textbook you use. Name the people who helped you. Name the organisations have you used. Give the address of websites that you use. WHEN WILL I FINISH IT? Put in dates for each task. DID I ACHIEVE IT? WERE THERE ANY PROBLEMS OR CHANGES? ANY OTHER COMMENTS? Explain any difficulties you had in getting information or completing the task by the date you planned. WHAT DO I NEED TO DO? (N.B. Write in the future tense e.g.
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This will widen the appeal of the product meaning more sales and inevitably more profit. Promotion is quite vital to a successful product. A quality product may not survive without good advertising but less revolutionary products could still do well with a good advertising strategy. Various advertising and promotion methods are available for use in the present day. Common advertising methods include: television, newspaper (local or nationwide depending on the size of the company) internet and advertising on billboards. Promotional offers such as BOGOF (Buy One Get One Free) and offers of the same sort (for a limited time period)
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Islam states in the Qu'ran that alcohol is prohibited, and therefore I will not be strongly targeting Muslims for this product. Instead I will be targeting the non Arabs, foreigners and especially tourists. The law states that alcohol can be freely bought and consumed in hotels and bars. The drinking age is 21, and to buy alcohol to drink at your house, you are required to have a license. The fact that I am targeting people that aren't predominantly local to the country isn't a problem, as there are more expatriates in the country than local people.
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The potential of IT to improve the quality of travel and tourism services is currently under-exploited" (Poon, 1993). However, companies do recognise that they can develop an effective competitive strategy by lowering distribution costs and improving the service provided. A review of the emergence of IT and its importance follows. IT has changed the way in which the industry works but has also unveiled many new opportunities and challenges. (For instance, tasks are done differently and new styles of distribution channels have become apparent.) Companies can best enhance their competitive performance by effectively exploiting new technologies. In tourism, it is not only some organisations that have learned to use technology but all of them, including travel agents, hotels, and airlines.
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In these cases, the weekly hours remain the same, but the pattern of employer's leisure time has changed, as they move away from the typical Monday-Friday, 9-5 working pattern. The way people use their leisure and recreation time has changed enormously during this century. Most people now: * Have different needs of expectations-for example, they may be more aware of the importance of health and fitness and of the need to balance work and leisure. * Want more access to the countryside * Are mobile-more people own cars, and the public transport system allows them to travel much more widely.
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