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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.
4. POSITIONING Haagen-Dazs positioning is mostly based on its product and service differentiations. They uphold their high quality and luxurious ice cream by using special selected ingredient. They also ensured that fresh cream is used for a rich creamy flavor and there is no excess air. While most of other companies test their product quality only within their manufacturing processes, Haagen-Dazs seriously bring it a step further to ensure that quality tests take place at every stage of production by visiting and testing ingredients suppliers, checking manufacturing processes and equipment daily, tasting ice cream in-store.
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Market research is usually conducted when designing a new product, as this will help the business design a product that people want. There are two different types of approaches to this research, product orientated and market orientated. The main difference between these two types approaches is that market orientated benefits the customer's needs and wants and product orientated tries to convince the customer to buy the product. An example of a market orientated approach is conducting a survey as this is finding out what the customers wants.
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It is also possible that it could become a market leader if it owns a greater percentage of the market share. I think Cosmogirl will be a successful product because it is a mini version of Cosmopolitan (a magazine aimed at women), meaning that it already has a brand name, and so is much more recognisable amongst the various teen magazines. Many celebrities and popstars endorse Cosmogirl by appearing on the front covers of the monthly magazine. This means that both magazines are being promoted and given an appealing image.
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In order to do this the following questions will need to be answered: * How to promote the business. * How to compete, while gaining profit, with the other sports shops. * What the other sports shops are doing. * Who the target market should be. * What pricing policy to use. * Products to sell. * Where to locate the business. Some very detailed research will need to be carried out in order to gather all the answers or suggestions for the various questions.
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Furthermore I am not in control of the external environment. If nobody buys the goods from our business, we are the people who will have to take the consequences. So I will have to do my job very well. But I can rely on the government. The UK is said to have an 'enterprise culture'. That means that the government has many offers to help entrepreneurs like me. E.g. I found in the school book that the government has the Loan Guarantee Scheme.
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(If this pulp were left as it is, then we would have to eat it with a spoon). Rubicon drinks aim to replicate a near perfect fluid version of the named exotic fruit and have the same number of calories as a 100% juice. Rubicon's USP (Unique Selling Point) are the drinks that taste like the real fruit, dinks that are strong, full-bodied, with a wonderful, satisfying mouth-feel, drinks that have an original and authentic taste is that the Rubicon does not anglicise its flavours and drinks that are recognisable exotic single-fruit juice drinks; they are not blended with commodity fruits.
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department of Elite Chocolates and I have been asked to investigate launching a new product on to the market in the form of a low fat chocolate bar. In order to do this I have given a number of tasks to do. I will do everything step by step. The background information on Elite chocolates is that they are a small company who have specialized in making exclusive, hand made chocolates for special occasions. In recent years they have investigated expanding their market and have therefore started to sell their product over internet.
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With reference to your local area, would a new healthy fast food restaurant represent a sound business proposition?
Market research Market research is the collection of data on customer habits to help decision making in marketing. It is important that a business carries out this research before it begins production, so that time, money and effort are not wasted on products that people do not want to buy. My market research will be split up into two sections - primary research and secondary research. For my primary research I will put together a questionnaire about healthy food and restaurants and hand it out to fifty residents from the area where the fast food restaurant will open.
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Plannng and research. I would like to open a African restaurant, food from all over the continent Africa. My aim is to have different races come and try what real African food and try food from that side of the world
Comfort is emphasized, and Western themes are popular. Upscale steakhouses offer a more formal atmosphere and may serve larger cuts of meat of better quality than those served in miscalled restaurants. Upscale establishments offer guests more privacy and focus more on adult patrons than on families. I want to create a casual dining restaurant serving Ghanaian food. Casual-dining restaurants appeal to a wide audience, ranging from baby boomers to kids to Gen Hers to seniors, and they provide a variety of food items. Many successful casual-dining restaurants centre on a theme that's incorporated into their menus and d�cor.
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The company's managers strictly watch the quality of services offered in their franchised salons. Now with a strong brand image and considerable financial and informational resources, LOUIStylez is about to enter three absolutely diverse countries on different continents: Russia, Japan, and South African Republic. Market Analysis of Japan Japan has remained a major economic power in Asia and globally, their government-industry cooperation is working a strong ethic, mastery of high technology, and a comparatively small defense allocation help Japan advance with extraordinary rapidity to the rank of the third largest economy in the world after the US and China.
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Sport as mentioned above, which will be going to be located in Barking shopping centre. Barking is a new developing area compared to others such as Stratford and Eastham, some of the busiest. (2.1)Key terms: A new retail business (shop) (florist, nail bar, internet caf� or sports shop) is opening in your area. Other shops in the area sell similar products/services and these will be in competition with the new shop for the same local market. This means that the new business must have a very well thought out marketing campaign in order to compete successfully and persuade the customers to shop there.
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Information Needed How will I get this Information? Alternative Strategies Date Due Page # Marketing Definition, How it is used and why Text Books, Notes Web sites 07/02/03 3 Market Research (Questionnaire) Questions & layout. Asking Customers in local Salons. Ask Public in Local Area 09/02/03 4 Research Analysis What my Questionnaire has shown Looking at answers given by public. n/a 11/02/03 5 My Target Market Determined From Questionnaire What are their requirements? Looking at answers from Questionnaire Use target Group of similar business in area 13/02/03 8 Other Forms of Market Research What are they? What am I using?
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At �399 this unit was less than a quarter of the price of established market leaders. Within six months of its launch Amstrad captured 25% of the European personal computer market, and bought international recognition of its brand in the home and business computer sectors. In 1989 Amstrad launched the first mass market Satellite Receiver/Dish package for Sky TV and became the European number one supplier of satellite receivers. In the same year, Amstrad launched the first combined fax, telephone and answering machine acquiring 52% of the personal fax market. In most recent years Amstrad is leading the way in the digital satellite business.
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what theory you will apply to your work * Think of what you want for your plan Aim of the Coursework The aim of this piece of work is to create a marketing plan for a small business (type of business you are creating the marketing plan.) In order to achieve my aim I will have to meet the following objectives: o Apply relevant theory to the Marketing Plan o Carry out Marketing Research including the production of a Hypothesis o Produce Finding along with Comments and Suggestions o Compare Hypothesis with Findings.
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The bowling organization I have chosen to study is XS Superbowl in Longbenton. The reason I have chosen to study this bowling alley is because I have been to XS Superbowl the most out of all four bowling alleys and I am curious to how XS Superbowl manages with the amount of competition from its competitors that it has. XS Superbowl started out 14 years ago. They then got took over by a company called namco since then they have increased through sales because of Namco's gaming range through arcades. XS Superbowl has competitors which are mainly; the local cinema, JJB soccer dome, wet 'n' wild, and other bowling alleys such as Megabowl and Starbowl.
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for your plan Aim of the Coursework The aim of this piece of work is to create a marketing plan for a small business (type of business you are creating the marketing plan.) In order to achieve my aim I will have to meet the following objectives: o Apply relevant theory to the Marketing Plan o Carry out Marketing Research including the production of a Hypothesis o Produce Finding along with Comments and Suggestions o Compare Hypothesis with Findings. Objectives Cont Produce a Marketing Plan Evaluate the Marketing Plan by carrying out a SWOT analysis.
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Advertising, personal selling, sales promotion, and store retailers are traditional means of communication between sellers and buyers. However, these methods have faced a lot of pressure in the past several years. Today, the style of the consumer market is different, because of the increase in the number working women, the difficulty in getting to stores, and so forth. For these reasons traditional marketing cannot fit into today's market environment very well. Further, the cost of traditional marketing is growing. That means marketing organizations have to find and use a new marketing method -- "Telemarketing." Telemarketing has many benefits to companies and consumers.
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competing with three other firms and there were six market segments available, prioritized by their needs in terms of special commands, error protection, and ease of learning. STUDENTS: These are the college students who want economical packages capturing about 20 percent of multimedia sales. HOME: Segments Price Level Home Low Students Low Parents Low Artists High Managers High Assistants High These are the households producing variety of multimedia materials and capturing about 15 percent of sales. ASSISTANTS: These are the presenters within the businesses capturing about 25 percent of the market sales.
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It identifies the differences between the two purchasing areas with respects to "Core and Secondary Services". I'll refer to both these models to present the nature in which the marketing mix is manipulated for the areas in question and discuss the four, and extended seven "P's" of this mix. Incorporated in the answer is how the understanding of expectations can help guide the marketing processes to manage these expectations, and achieve customer satisfaction. To market a car, the product, the Sullivan family considered the diversity of vehicles available, tailoring them to certain customers needs, "both new and used vehicles were sold" and three very different cars were on show.
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My Business Studies assignment is to create a small scale Marketing Campaign for a new retail Business that I will be opening a Snooker Club to be called Club Snooker 147. Club Snooker 147
These facilities will achieve Market Differentiation for my product as other clubs do not have these facilities. However my market research will provide me with useful primary information from which I will be able to tell if these facilities make my business successful. Here is a map showing the location of my Business. In this assignment I aim to develop a marketing campaign for a snooker club. For me to create an effective and successful marketing campaign I will need to conduct some market research in order to discover potential customers and what products they want.
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To conclude Errol has many types of marketing research available to him giving him a lot of information which will greatly help him and his business
Primary Research Primary research is defined as the research where information is collected first hand or directly. It is also known as field research as it normally involves going out in the field and finding information. Primary Research Before Errol Anderson Motors or any other company decides to carry out primary research they need to decide on the type of sample and the sample size of the population they will be taking to research. They need to find a sample size as investigating within the whole population would take too long and cost too much especially to Errol who doesn't have that kind of large capital at his dispense.
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I have formulated a marketing campaign for a new retail business. My chosen business is a sports shop which will be called 'AKA SPORTS'. I have decided to situate my business in High Street North, East Ham
PROMOTIONS: I will have the occasional newspaper advertisement in the local paper. I will also distribute leaflets and put. up posters regularly before my shop opens. I will also use other promotions such as local radio and sponsorship. I will also have an athlete open my shop such as a football player from the local team and have him sign shirts 3) PLACE: I have placed my shop on the High Street North where it is quite busy and there are a lot of shoppers, so the shop will definitely be seen.
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As a business advisor to business and organisations across the United Kingdom I have been asked to provide key theories that define business strategy.
In his earlier book, Porter defines competitive strategy as "a combination of the ends (goals) for which the firm is striving and the means (policies) by which it is seeking to get there." Thus, Porter seems to embrace strategy as both plan and position. (It should be noted that Porter writes about competitive strategy, not about strategy in general.) Morrison & Less (1989) say "the successful strategic thinker is guided by a clear business concept based on a thorough understanding of the economics of the business and of the success factors in the industry." The ancient Athenian theorist, Xenophon (c.
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(http://www.cosmosnet.net/azias/cyprus/paphos.html) Planning a sophisticated special event with a myriad of details to coordinate is no easy task. To be successful, an event manager must gain clear understanding of why the event exists (its vision/mission), what it is trying to do for whom (its goals and/or objectives), and decide the strategies needed to achieve these objectives. These strategies in turn need to be implemented through a range of operational plans developed within the context of an overall event budget. (Allen & O'Toole, 1999) 1.2 AIM OF THE EVENT Organise an international artistic event (Art Exhibition) that will take place at the 'Kyklos Art Gallery' in Paphos on the 12th 13th and 14th of May 2006.The aim of this
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This report will define and explain the following marketing terms: Marketing Objectives What role the functional areas play in supporting marketing activity Marketing MixIn this report it will show examples of the above
To summarise, marketing objectives should be achievable so they should be set within the organisations capabilities. They should also be understandable so that everyone in the company knows what they have to achieve by when. They should also be also challenging so the employees have something to work for. Finally they should be measurable so the organisation can see if they are reaching their targets or if they are not being met. If objectives are not being achieved the company will readjust their objectives by altering their activities.
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