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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. Opening an Arcade – Feasibility Study

    Firstly I will examine the start-up costs necessary for the arcade and also the sources to finance these costs. I will then create balance sheets and study the profitability of the business through methods such as cash flow forecasting and a profit and loss account among other methods. In the final section I intend to evaluate the work I will have carried out during the project. My primary purpose of the investigation is to prove that an arcade is feasible for the area and could be managed profitably on a daily basis. MARKETING OBJECTIVES My main overall long-term goal of the business is to become profitable on a day to day basis.

    • Word count: 4947
  2. Microsoft Market Research

    * What are the right promotions to use that will appeal to Microsoft's target market? * Where's the best place to sell the X Box? * What do customers want and need? * What is the demand for the X Box? * What are existing patterns of sales for other games consoles? I then need to decide what information might help answer the questions, then I need to decide how best to collect this information. The information is then collected and analysed. Finally Microsoft has to make a decision about what to do in the light of the information gained.

    • Word count: 1538
  3. Marketing Planning & Segmentation, Targeting and Positioning

    The analysis must pay a strong focus on the company's strengths and weaknesses. The Planning stage involves developing the company's strategic plan and marketing plans. To do this the company must look at the external environments and the internal situation. The company must discuss where they are at present, where they want to go and how they are going to get there; once this is clear it creates the strategic plan (which is planning while being aware of the outside environment). The objectives of the company must revolve around marketing, product and brand. (Perreault et all, 2000) The Implementation stage involves carrying out the planning; it turns the plans into actions. Craven (2001:163)

    • Word count: 1561
  4. Is There Scope For a New Retail Outlet In Alsager?

    by national organizations such as TUC, the CBI or chamber of commerce, or industry associations such as the Engineering Employers Federation or National Farmers Union. Research organizations- reports prepared by specialist market research organizations such as Mintel or Mori; articles published by academic journals, Questionnaire Year 11 Business Studies Course Work "Is their scope for a new business/shop in Alsager" Questionnaire Question one 2 Would you like a PC shop to be opened in the Alsager area? Yes [ ] No [ ] Question two How old are you?

    • Word count: 1731
  5. Outline and Comment on the key elements of Best Value. How does Best Value fit in with the concept of marketisation in the Public Sector?

    The internal markets generally refer to the trading which takes place within organisations boundaries. Sections or departments pay for services and goods provided by other parts of the organisation (Malabar 1991: 141). The arguments for internal markets resemble those contracting out. In the process of Developing such markets, responsibilities are said to be clarified, different aspects of service management effectively developed (Walsh 1994) and pressures for lowering costs. In the beginning the services went to tender and were won by the lowest bidder. Problems occurred with this process, as the lowest bidder wasn't always the Best Value for money.

    • Word count: 2118
  6. Would A Tuck Shop Be A Profitable Business?

    * Desk research/secondary research (uses data, or information, which already exists in printed form or computer files) The primary data gained by field research are very significant, because it is not available to any other businesses, unless they do their own research. Though, it is much more expensive than desk research and much more time consuming. When the information has been gathered, it has to be collated, and then analysed before a report can be formed. Secondary research is much easier and cheaper than primary research, because the data are already available and do not have to be gathered and analysed.

    • Word count: 2992
  7. Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitability.

    Satisfying - This involves meeting consumer requirements. Customers want the right goods at the right price at the right time and the right place. Profitability - This motivates organisations to supply goods to consumers in a market. Profit may be simply one motive for supplying the goods to a market. Also market share and market leadership maybe included as well. God marketing helps managers to improve the performance of their part of the business and to meet the most basic of the business objectives - a profit.

    • Word count: 756
  8. Market Research for a New Company : Fusion

    The 1998 TV ads featured the Fuseliers - a purple uniformed platoon who created the explosive Fuse Bar using fudge pieces, raisins, crispy bits, peanuts and tons of Cadbury's chocolate. Tagline, "Don't Blow a Fuse Eat One". |More than 250 different ingredients including cherries and apricots were tested before the final combination was agreed. It took more than 5 years planning to launch the bar and more than �10 million was spent on the launch program. Market Research Introduction into Market Research: Market research is concerned with identifying and anticipating customer requirements.

    • Word count: 1162
  9. What recommendations could you give to Paynes to improve the marketing mix of Poppets?

    The focus group consisted of the following people: * 1 Male in 18+ age range * 2 Females in 18+ age range * 1 Male in 15-18 age range Details of opinions, which were obtained from this focus group, are included in the sections relevant to the information obtained. Secondary data was obtained primarily from research into the Poppets advertising schemes. Television advertisements for the Poppets range of products were viewed, and the web site was visited and downloaded. Looking at the promotion of Poppets was my main method for finding out their sales strategy, as the advertising the company employs shows clearly their target audience.

    • Word count: 4764
  10. The Objectives Of Marketing

    A business must make decision upon each of the elements, such as what pricing policy to use and how to promote the product, and must also decide which element of the four P's is the most important. This is the true meaning of the marketing mix. For some products the price, and therefore the pricing policy chosen, is the most important. This would be the case in a highly competitive market. However for other products promotion would be the most important.

    • Word count: 1338
  11. How Successful Thorpe Park Is As a Business?

    By rail: Regular services from waterloo, Clapham junction, reading and Guildford to Staines station 950 shuttle service from station to thorp park. By road: from m25 take j11 or 13 following sings via a320 to Thorpe park, access from j12 is not possible. By bus: no 426/436/437 from Working. No. 551 from Staines to Thorpe Park main road, no.950 station service from Staines train station/bus station Coming by train: Travel with South West Trains to Staines Station. It's quick and easy with up to six trains an hour from London Waterloo and Clapham Junction.

    • Word count: 1916
  12. Marketing Assignment Based Around the Estate Agency Business.

    My marketing strategy must be based on my knowledge of market research and the principles of marketing. When thinking up a marketing strategy the following information needs to be considered in order to meet the objectives of my estate agency. There needs to be detailed research to find out: The required services of customers. How to position the service in relation to the competition. The correct marketing mix. A marketing strategy is a strategy used to identify what the organisation needs in order to achieve their objectives. Through carrying out the 4p's this can be done, this involves carrying out extensive research, both primary and secondary.

    • Word count: 2033
  13. Marketing Plan For a Retail Business.

    ? ? ? Q4: "How many miles Less Than 1 1-3 4-6 7-10 10+ Would you estimate ? ? ? ? ? You live from One Stop?" Q5: "How would you Walk Bus Train Car Taxi Normally travel ? ? ? ? ? To One Stop?" Q6: "How much money �0- �10 �11-�20 �21-�30 �31-�40 �50+ Would you estimate ? ? ? ? ? To spend on an average Night out nightclubbing?" Q7: "What Type Of Music Are You Into?"

    • Word count: 1710
  14. Marketing Orientation - Introduction to Customer Led Businesses

    This matching process takes place in what is called the "marketing environment". Businesses do not undertake marketing activities alone. They face threats from competitors, and changes in the political, economics, social and technological environment. All these factors have to be taken into account as a business tries to match its capabilities with the needs and wants of its target customers. The nature of "Customer Needs" and "Customer Wants" A "need" is a basic requirement that an individual wishes to satisfy. People have basic "needs" for food, shelter, affection, esteem and self-development. Many of these needs are created from human biology and the nature of social relationships.

    • Word count: 867
  15. Marketing Westlife

    I could maybe have a small 30-second T.V. slot between 8 and 9 p.m. when most gullible teenagers are watching the T.V. This will simply contain the five members of Westlife walking in the rain, half-naked (Top-half!!!) as it plays "I Have A Dream", then it changes to them wearing ordinary, casual clothes by a cliffside, as they sing "Flying without Wings". This sequence of events continues, going through a range of scenarios with different songs and different costumes on Westlife until the last 10 seconds, in which it shows the Westlife album "Songs from the West Coast".

    • Word count: 762
  16. ‘The marketing philosophy should be instilled throughout the organisation’. Discuss this statement and it’s implications with reference to an organisation of your choice.

    Second, marketing is a set of activities used to implement this philosophy. The American Marketing Association's definition includes both of these viewpoints, as does the following definition from Kotler that continues to highlight marketing as a philosophy of business: "Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organisational goals". The American Marketing Association. "Marketing is getting the right goods and services to the right people at the right place at the right time at the right price with the right communication and promotion".

    • Word count: 2522
  17. A Case Study of Sony and Sega

    It is new and exciting. There are also factors that are limiting the demand for the Playstation 2. These include: 1. There is a known lack of consoles (Europe is only expected to receive 500 000 console in the period before Christmas). People may believe that there will be none left so are reluctant to try to order one. 2. The Playstation 2 is priced at �299.99, this for many people is too high so this will reduce the demand as people are not only unwilling to pay the price but unable.

    • Word count: 1668
  18. What recommendations would you make to Paynes to develop the marketing mix of the Poppets Range?

    However after a slump in sales the company was bought out by Northern Foods. Due to their early monopoly Paynes were able to charge the prices they wanted. And it would appear from research that they failed to adapt to the introduction of newer brands such as Cadburys. Paynes however lost their monopoly when companies such as Cadburys and Nestle started making more chocolates with variety and strange new ideas. The fillings that go into Poppets have remained the same over the years.

    • Word count: 1896
  19. Launching a Cafe Chain

    * State what effects the opening of your shop might have on the community and existing businesses. 10 Take your completed questionnaires and: * Review your market research - what information does the questionnaire data provide? * Discuss how your results will help you make decisions with regard to your business location, target market, pricing etc. * Discuss the effectiveness of this kind of survey, as you carried out, as it might be done in reality by a small business.

    • Word count: 2698
  20. Retail Marketing Case Study – The Body Shop and the Retail Marketing Mix

    This is quite a broad framework of the retail marketing mix but is good in that it summarises the collective aspects of the mix under three main headings. These three main headings can be further broken down into the nine different elements of the retail marketing mix. The nine different elements of the retail marketing mix are: * Product Characteristics * Price Considerations * Customer Service * Store Location * Facilities * Customer Communication * Institutional Profile/Image * Design * Instore Ambience Walters & White (1987:64).

    • Word count: 4336
  21. Market Research

    There are two main methods of market research: What is Desk Research? Desk Research involves using published information or secondary data. This information which is already available both within and outside the business. What kinds of Desk Research exist? 1) Firm's own data - Records on how much certain customers spend and which areas have the best sales for particular products. 2) Government Statistics - On many topics such as population changes and consumer spending census data which shows numbers of people in different age groups and where they live is a useful source of information.

    • Word count: 749
  22. 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
  23. Discuss the benefits of internet marketing to Virgin

    The opportunities Online customer service ? Virgin use online customer service to help their customer when in need of their assistance. They have created a FAQ (frequently ask questions) this is a page that will include all enquires that customer have and have asked before and have answered them. With this customer can see the answer to the question that has already been asked, so it might result in them not having to ask the same question twice. Provide wide range of product ? With the internet Virgin can provide a wider range of product than what they have available in stores.

    • Word count: 2794
  24. Marketing: Assess your business idea against each of the following - AIDA, USP, 4Ps

    Action: Customers have made their decision, they will make action, whether they will buy from us, from competitors or customers will not buy the product. Satisfaction: Customers have purchased our product. If the customers are satisfied with our services, they will come back. It is very important that customers are happy with our services, to make customers return we will try to have an excellent customer? services and we will introduce next time vouchers. USP (unique selling point) We aim to see customers return, so we offer many benefits to customers if they buy over certain price.

    • Word count: 1164

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