2.1 role of marketing

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  • Created by: hanfa
  • Created on: 18-12-20 16:13
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  • 2.1
    • factors to consider when deciding to market a product:
      • who the marketing is aimed at- for example if its aimed at teens/young people social media or if the product is specifically aimed at a TM, then it should be aimed strategically to them and to reach them.
      • finance- how much finance is available to spend on research and development of the new product or an advertising campaign.
      • location of potential customers- which country or region of a country do they live and what language do they speak.
    • main purposes of marketing
      • informing customers- advertising on TV, in papers, social media, billboards. how much advertising a business does will be influenced by what it can afford and who it needs to inform,
      • identifying and understanding customers- who they are, and this can be found through market research
      • increasing sales: sales can be increased by reducing price, introducing new products, selling in different places or by different methods, and promotion including advertising. the 4P's can relate: price, product, place and promotion.

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