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[MARKETING STRATEGIES] BUSS3 - AQA

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[MARKETING STRATEGIES] BUSS3 - AQA



Understanding Marketing Objectives
Marketing - The process of identifying, anticipating (predicting) and satisfying
customer needs profitably

A firm's marketing aims and objectives are the goals or targets of the marketing
function. These must be consistent with the organisation's corporate aims and
objectives.
Marketing objectives need…

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[MARKETING STRATEGIES] BUSS3 - AQA


Entering a - Supply a minimum of 50,000 trial downloads per month
new market - Increase the number of customer enquiries from the EU by 10,000 per
/ market month
positioning
- Recruit five suitable distribution agents in the four target countries
Internal Influences
Internal…

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[MARKETING STRATEGIES] BUSS3 - AQA


Economic environment
This is a key factor in determining demand. E.g. many marketing objectives have been
thwarted or changed as a result of the recession. Factors such as exchange rates would
also impact objectives concerned with international marketing.

Analysing Markets and Marketing
The challenge for…

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[MARKETING STRATEGIES] BUSS3 - AQA


coordinate other functional departments and means they can anticipate trends so that
they are prepared and can respond effectively to changes within the market.

Quantitative Forecasting
There are several quantitative methods of analysing a market which are in common use.
The following methods are covered…

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[MARKETING STRATEGIES] BUSS3 - AQA


Ignores qualitative factors (e.g.
changes in tastes & fashions)


Correlation
Correlation looks at the strength of a relationship between two variables. For
marketing, it might be useful to know that there is a predictable relationship between
sales and factors such as advertising, weather, consumer income…

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[MARKETING STRATEGIES] BUSS3 - AQA


The Delphi method involves getting a group of market experts to provide an opinion on
the forecasting task ­ e.g. to estimate future sales growth in a market. The method
involves a series of steps where the experts first give a confidential opinion on the…

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[MARKETING STRATEGIES] BUSS3 - AQA




Selecting Marketing Strategies
Two different strategic approaches to marketing need to be considered:
Porter's Generic Strategies
Ansoff's Matrix


Porter's Generic Strategies
The challenge for a marketing strategy is to find a way of achieving a sustainable
competitive advantage over the other competing products and firms…

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[MARKETING STRATEGIES] BUSS3 - AQA


The differentiation and cost leadership strategies seek competitive advantage in a
broad range of market or industry segments.

By contrast, the differentiation focus and cost focus strategies are adopted in a narrow
market or industry.
Cost Leadership:
With this strategy, the objective is to become…

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[MARKETING STRATEGIES] BUSS3 - AQA


product, it will be stuck in the middle with average costs and little differentiation, giving
it no overall competitive advantage.
Ansoff's Matrix
The Ansoff Growth matrix is another marketing planning tool that helps a business
determine its product and market growth strategy. Ansoff's product/market growth…

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