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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.

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  1. Throughout this unit project my main aim is to develop a marketing strategy for a new product idea. I have based this project therefore on the marketing of a new and exciting product called the VRX-2000: Vinyl Recorder.

    Commercial record companies stopped vinyl production, and the popularity of vinyl was taken over by the CD. So vinyl was forced even further underground. Throughout the club house boom of the late 80's, the evolution of techno / trance in the 90's, and throughout the continual standards set by the turntablists and hip hop / scratch DJ's that pioneered the art of turntablism, there is one consistent factor that has kept vinyl alive: Vinyl is the preferred format for the majority of the world's professional and more so non-professional DJ's.

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  2. In view of the dynamic nature of the marketing environment to what extent do you consider consumers to be in practice central to marketing activities?

    Therefore marketers base their strategies around consumer needs from the onset by setting a 'reasonable' price and at the same time keep up to speed with consumers changing desires. It is not only marketers that are influenced by such environment forces but also consumers. There are a number of environmental forces which marketers have to keep in mind before setting out their objectives. Trends in such external forces can have a major impact on consumer choices and preferences. The competitive environmental force affects the number of types of competitors that the marketer must face - and how they behave.

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  3. Marketing - An Introduction

    Japanese goods have become very competitive in UK markets. This means that expenditure on marketing has to increase. PRODUCT ORIENTATION * A Product oriented business means that it focuses on the production process and the product itself. They assume that the products will self itself. * Take the ex. Of the Concorde aircraft project. It was an absolutely new invention, and the developers assumed that the aircraft would sell itself. However this was not the case, because although the project was technically a success, its failure to take into account the needs of the market meant that it was not a commercial success.

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  4. Market research is finding out what consumers like and dislike about a product or about a range of products.

    A variety of techniques are employed, depending on the purpose of the research. 5.2 Businesses carry out market research because firms gather and analyse data about customers, competitors, distributors, and other actors and forces in the marketplace. A large portion of the work performed by most market research. 5.3 There are two types of research these are called field and desk research.

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  5. In this assignment we were asked to deliver a marketing strategy for are chosen product I chose to produce a marketing strategy for an improved, however existing Nike trainer.

    Another disadvantage of primary sources is the cost of some methods of retrieving information such as conducting questionnaires. The reason for the high cost is because people have to be employed in order to conduct the questionnaires and large companies like Nike are likely to conduct questionnaires in wider geographical areas as opposed to smaller ones for they are bound to want feedback of a larger scale which is consequently time consuming and again a disadvantage. The second type of source is a Secondary source.

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  6. For this project I have been instructed to come up with a marketing strategy for an existing company/product I have chosen to do Nokia communications, particularly the mobile phone sector of Nokia's business.

    At the moment Nokia are the world's best selling phone company (see table below which shows market share). Nokia strengthened its lead as the No. 1 vendor in the market during 2000 with shipments growing 66 percent over 1999. Some of the company's success was attributed to a strong second half in 2000 when 59 percent of sales occurred. 1. Nokia 37.2% (34.7% 1Q02) 2. Motorola 17.3% (15.5%) 3. Samsung 9.8% (9.6%) 4. Siemens 8.5% (8.8%) 5. Sony-Ericsson 5.2% (6.4%)

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  7. The purpose of this report is to investigate Lang Homes Plc's approach to marketing. To what extent does the business understand and apply recognised principles and practices.

    It should be remembered that there is more to marketing than simply selling and advertising. The purpose of this report is to examine these wider activities. Lang's product is speculative private housing. This market is increasingly governed by town planning process's. The price represents the single most expensive purchase many will make, depending largely on prices in the second hand market, albeit subject to a premium. Space is restricted by availability of land, which in itself is in finite supply.

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  8. Poppets - marketing stratergy.

    The age groups are as follows; 0-5, 6-10, 11-15, 16-20, 21-40 and 40+. The survey will ask the following questions; * Are you aware of Poppets? * How often do you purchase Poppets? * Where do you purchase Poppets? * Roughly in how many different shops have you seen Poppets available? * Does the Poppets packaging appeal to you? * What type of shop is Poppets mostly available from? * What sweet do you prefer other than Poppets? I.e. Malteasers skittles.

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  9. 3g Mobile War 2003 - 2023

    Phones, watches and other handheld devices will be powerful enough to show video on demand. Experts say that within a couple of years, more people will be connecting to the Internet on the move than via a bulky personal computer. TELECOMS SECTOR STARVED OF CASH Investors and banks are becoming increasingly aware about their exposure to telecoms firms. Their fears have been fuelled by a steady flow of bad news from the sector and a warning from the UK financial regulator. The Financial Services Authority (FSA) is writing to chief executives of banks, warning against lending money to the telecoms sector.

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  10. How Nike Meets The 5 Principles Of Marketing.

    Nike also uses secondary research which is research that has been gathered already either in the past or by rival companies for example in the 70s and 80s Nike and other companies such as adidas had great success with classical trainers as everyone wanted them and had them and late 90's through to the millennium more people were buying adidas classics so it was conclusive that classics would sell well so Nike re-released classics and it was a success Nike made a profit and the customers got there classics.

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  11. The Marketing Mix.

    console', and the results showed that 10 people said graphics, 4 people said DVD Compatibility and also 4 people said price and 2 people said broadband compatible. This tells us that 4 people from 20 people who done the questionnaire said they would buy a console which had DVD compatibility; people are willing to pay extra for extra features. This tells us that Microsoft needs to include the remote control, and also that Microsoft need to grow the Xbox brand even bigger.

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  12. How and why have Tesco PLC expanded their store in north Bracknell?

    The store manager has span of control over all the deputies who have span of control of their section. When some thing needs to be done the store manager would ask his deputise who would divide the work between other workers following the chain of command. Task 2 Aims are what businesses set out to do. Aims are set to be achieved over a long time. Objectives are specific targets, which businesses intend to achieve. Unlike aims, objectives are the steps in order to achieve an aim and it takes several steps to achieve an aim. Tesco PLC has several aims to be a successful Business, these are: * To make a profit.

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  13. Marketing is one of the most varied activities in modern firms. In the last 20 years, people in business have realised that it is not good enough simply to produce a product or service and hope it will sell.

    All of these are called the 'Marketing Mix'. They are: * Product - the nature of the product, ie how it compares to competitors * Price - the price at which it will be sold and also how it compares * Place - where it is made and concerns problems getting the product to market * Promotion - how it will be advertised ie newspaper, radio also loss leaders etc They are often summarised as 'The Four P's'.

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  14. Possible Ways That Chocoholics PLC Can Grow.

    The safest one is to put an existing product in a new market, there is minimum risk. The riskiest is to develop a new product and put it in a new market. From section three if Chocoholics PLC wanted to expand externally they could merge with another company in the same profession, they could take over a smaller company with a good reputation and one that is well known. They could also go for an acquisition and joint venture. Chocoholics PLC could use Matrix's idea of expansion. They could keep on selling their existing product in the existing market.

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  15. Report on Marketing Opportunities in the Scunthorpe Area.

    I also researched the competition in the Scunthorpe area. I then researched possible locations where the new ice cream parlour could be renovated or constructed. The ideal place is near a populated area, possibly involving retail, where people can drop by anytime they want. I researched into empty shops or sites in the Scunthorpe area, where the ice cream parlour could be constructed. Findings From my questionnaire I found that the people who mostly ate ice cream when out were in the age ranges 17-30 and secondly 31-46 years age.

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  16. Used car purchase plan.

    As I will be getting a manual licence I feel it is beneficial to get a manual car. Yes the car I bought suits my needs it is a 1990 Nissan Pulsar hatchback with 5 speed and is metallic blue. The colour is not as light as I had intended but as you can see in the picture it is not a deep blue so the colour will still be appropriate for Queensland's climate. It has a hatchback so plenty of boot room for when travelling with other passengers and for all my work or school needs.

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  17. The marketing mix all comes down to the 4 p's. It describes the set of ingredients or controlled variables.

    a commercial success I must sell the right products that my customers are going to be interested in. The main products I will be selling is, football kits, badminton equipment and trainers. I chose this items because most people ticked these sports on my questionnaire than any of the others. All my products will vary in size, shape, design, colour and quality. My research showed that the most popular tracksuits were Lacoste and Nike so I will obviously be selling more of these. Although Lacoste is a very expensive brand, I can put special offers on these like, 10% of all Lacoste tracksuits when you spend over �50 on any other items in the shop.

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  18. Introduction to Marketing - Different Companies have different methods of selling their products, some companies decide to launch an item and wait for the results of the sales.

    Market research can often prove to be expensive and time consuming and ultimately the results found through the research only suggest past events and past patterns it cannot be a guarantee for business or profit. Market research will only suggest areas that have been studied it is possible that issues of particular importance may not have been researched and there is always the risk of unexpected circumstances arising for which the research conducted has no account Research all presents predictions and can be untrue this can cause a huge loss in invested money in to the research business.

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  19. Marketing Concept And Segmentation In Practice.

    Positioning of Julmetive in UAE Market was done very well through its unique Tablet pack and suspension flavor. Still there is a need to give more efforts in the services offered from J.D.S to its customers buying J.D.S products in UAE market, so that J.D.S may become a star company in the drug market in UAE. Table Of Contents <------------------ TABLE -------------------> Julphur is a promising drug company in U.A.E market which competes through it products, other national and international drug companies products in its quality and price.

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  20. Report on XE Marketing Campaign.

    Asking the general public which kind of car they drive created results for what car manufacturers the enterprise should specialise and invest in to maximise profits and increase turnover of stock. Although due to locational position it is more sensible to specialise in Audi and Vauxhall parts instead of other manufacturers which are in demand such as Mitsubishi, Toyota and Mazda. By asking the general public, questions about their driving vehicle preference, I was able to establish through quantitative and qualitative questioning, what the consumers would like to modify their cars with.

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  21. Is there a gap in the chocolate market? How could one befilled? Looking at Cadbury's Plc.

    My research showed firstly that the most popular type of chocolate was white chocolate followed closely by milk chocolate. It also showed that most people buy chocolate boxes as presents or for parties and the other choice most often chosen was to say 'thank you'. The majority of people thought that there were not enough chocolate boxes for young people. These were the results from the closed questionnaire questions (appendix 4 shows the results in full). From the open Question, which was, "what sort of chocolates would you like to see on the market?" My results show that most people wanted to see white chocolate, bubbly chocolate, children's chocolate and sugar coated chocolate.

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  22. Should Nike launch a Sugar-free Chewing Gum?

    It employs around 22,000 people in the US and Europe and has sales of an estimated $15 billion a year. Nike spends around $1.13 billion on advertising every year (Source: www.philly.com) to create a 'cool' brand image that appeals to young people everywhere. This 'cool' brand image is also shown with the companies 'Just Do It' logo and 'swoosh' motif. The company also sponsors many sportsmen and women that are in the public spotlight in order to promote their image.

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  23. Marketing a Pub Quiz Web Site

    I would ensure methods of constant information gathering as well as data analysis in order for the big decisions to be made. Examples of this are given further into the project. Identifying - this involves these simple questions based towards the consumer: What, Where, When and How? This way we can keep in touch with our thoughts and perceptions about this market. This process plays a large role in this firm, as I will have to ask questions by the second to achieve the correct information at the right time in order for the business to be a success.

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  24. Is there a gap in the market for fast food at Challney?

    I will be running a private limited company with twenty shareholders. I will employ twenty workers to run this business. The total amount invested in my company is twenty pounds. My job is to sell fast food to pupils in Challney High School for Boys. I will provide a quality service to all my customers and hopefully succeed in my business. My company will be allocated near to the rear side of Challney High school next to the sports hall gym.

    • Word count: 916

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