Pages in this set

Page 1

Preview of page 1
Unit
2
revision
­

`Managing
the
business'



Marketing
objectives
&
Strategy



What
is
marketing?

· Marketing
is
the
management
process
that
identifies,
anticipates
and

satisfies
customer
requirements
profitably.




Purpose
of
marketing


· The
main
purpose
of
marketing
is
to
shift
the
demand
curve
to
the
RIGHT.

E.g.
an
advert
may…

Page 2

Preview of page 2
Unit
2
revision
­

`Managing
the
business'



Mass
and
Niche
marketing

· Niche
=
targets
a
very
small
segment
of
a
market.
E.g.
local
restaurants.

Sales
will
be
slower,
but
prices
will
be
higher.

· Mass
=
appeals
to
the
whole
market.
E.g.
Pepsi.
It
requires
high
sales

volumes
and…

Page 3

Preview of page 3
Unit
2
revision
­

`Managing
the
business'



-
Promotion
­
Creating
the
right
image
&
presenting
it
to
the
right
target
market

· Media
advertising
and
other
forms
of
promotion



-
Place
­
Getting
product
to
the
place
where
consumers
can
be
persuaded
to
buy

· The
location
is
very…

Page 4

Preview of page 4
Unit
2
revision
­

`Managing
the
business'





Retailer
purchasing
power

· Large
retailers
now
have
a
huge
influence
in
the
UK
(control
80%
of

grocery
sales)

· Two
different
views
of
this:


Retailers
argue
that:
Critics
argue
that:

They
can
negotiate
better
terms
Suppliers
are
bullied

with
suppliers

Consumers
are…

Page 5

Preview of page 5
Unit
2
revision
­

`Managing
the
business'



Environmental
Factors


· People
are
increasingly
worried
about
the
environment

· Businesses
can
therefore
use
this
as
a
marketing
tool


Pollution
Conservation
Carbon
Footprint

Covers
air
quality
and
Concerned
with
ensuring
Considers
the

water
pollution
that
natural
habits
are
environmental
impact
of

not…

Page 6

Preview of page 6
Unit
2
revision
­

`Managing
the
business'



· Aesthetic
­
How
does
it
look,
feel
or
smell?

· Economic
­
Can
it
be
made
efficiently?

· Businesses
will
combine
the
3
factors
in
a
way
that
meets
customers
needs



Productivity
&
Efficiency




The
transformation
process


· Considers
how
raw
materials…

Page 7

Preview of page 7
Unit
2
revision
­

`Managing
the
business'



· Machinery
&
equipment
(capital)



Capital
or
Labour
Intensive?

· There
are
a
number
of
factors
that
will
determine
whether
a
business
will

be
capital
or
labour
intensive:

The
size
of
the
business
The
relative
costs
of
inputs
The
product
or
service


Capital…

Page 8

Preview of page 8
Unit
2
revision
­

`Managing
the
business'





Decreasing
capacity
levels

· Producing
too
much,
or
having
spare
capacity,
can
be
a
serious
problem



Decreasing
capacity



SHORT-TERM

LONG-TERM





· Stockpile
­
in
anticipation

· Redundancies
­
reduce
the

of
an
increase
in
demand

number
of
workers

· Reduce
prices
­
in…

Page 9

Preview of page 9
Unit
2
revision
­

`Managing
the
business'



Managing
stock

· There
are
a
number
of
methods
that
firms
can
use
to
improve
the
way
that

they
manage
their
stocks:





EPOS
Waste
Management
Stock
Control
Charts

Stands
for
Electronic
Stock
rotation
should
be
The
traditional
method
of

Point
Of
Sale.
It…

Page 10

Preview of page 10
Unit
2
revision
­

`Managing
the
business'



· Reducing
lead
times

· Just-in-time
stock
management

· Total
quality
management



Reducing
lead
times

· Reducing
lead
times
can
bring
benefits
in
two
areas:


New
Product
Development
Production

· Means
new
products
can
be
· Reduces
the
wait
that

developed
more
quickly…

Comments

katherine

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amazing cheers :)

Emily

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Using this as a last minute resource to re-learn for my resit exam has really brought all the knowledge for me.  Thank you for sharing this resource with us. Excellent and really detailed.

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