3.1: Marketing

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  • 3.1: Marketing
    • Marketing
      • The management process that is responsible for anticipating identifying and satisfying customer needs profitably.
      • Companies have to develop products that they want to buy.
      • The company has to understand the customer needs for their target audience.
      • The business sells products to customers; these customers want to buy products at affordable prices, and the business has to make profit.
      • Companies must do market research.
        • This will reduce risk of failure.
        • Helps to understand target customers.
        • After creating a product using market research, the launch stage has a more chance of success.
        • There are secondary and primary research
          • Primary is own research and secondary is research obtained by others
      • Stages of marketing
        • Designing the research
          • Market research should be planned and designed.
          • What is the aim of the research?
          • This is a key stage of the designing where a lot of questions can be asked.
        • Undertaking the research
          • This can be down by gathering primary qualitative data.
          • Things such a surveys and one to one can be used here.
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  • The management process that is responsible for anticipating identifying and satisfying customer needs profitably.
  • Designing the research
    • Market research should be planned and designed.
    • What is the aim of the research?
    • This is a key stage of the designing where a lot of questions can be asked.
  • Things such a surveys and one to one can be used here.

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