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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. Explain how development in the consumers market have impacted on food retailing

    food retailers, they?ve had to constantly adapt to these changes and keep up to date with the latest food style to attract consumers. They did this by offering this variety and different food to consumers who demands it. They made all this available because the consumers demanded it and in order to keep customers, retailers have to be able to fulfil their needs and give customers what they want. 2 Changing social and working patterns Working pattern does change as they have to in order to keep up to date with the changes and the demands of consumers.

    • Word count: 2142

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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