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EDEXCEL BUSINESS for GCSE
What is marketing?
The term marketing covers all the
activities carried out by a business to try
to ensure that customers get what they
want, when and where they want it.
Try and identify what these activities
could include.
© 2009 Ian Marcousé and Naomi Birchall…read more

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EDEXCEL BUSINESS for GCSE
Market research
· Market research is a key marketing activity.
· It involves a business collecting and analysing
information about the market in which it
operates.
· A business might want to know the following:
o How many customers are there in the market?
o How often do they buy products?
o How much are they willing to pay?
© 2009 Ian Marcousé and Naomi Birchall…read more

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EDEXCEL BUSINESS for GCSE
Types of market research
· Primary research uses new data that is up to
date, but collecting it can be expensive and
time-consuming.
· Secondary research uses existing data
which is quicker to access but may not be
relevant.
· Quantitative research deals with large
amounts of data ­ what is happening?
· Qualitative research is more in-depth ­ why
is it happening?
© 2009 Ian Marcousé and Naomi Birchall…read more

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EDEXCEL BUSINESS for GCSE
Product trial
· Getting people to try a new product for the
first time can be difficult.
· This may be because they:
o are loyal to other brands
o have recently paid a lot for a rival
o have not heard enough about the product or
business to risk their money.
· Resistance may be overcome by advertising
heavily or gradually building up a reputation
by word of mouth.
© 2009 Ian Marcousé and Naomi Birchall…read more

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EDEXCEL BUSINESS for GCSE
Repeat purchase
· New products are unlikely to be profitable
unless customers buy them repeatedly.
· A high level of customer (or brand) loyalty
must be established.
· This is only likely if:
o the product matches customer expectations
o brand image = customer's self-image
o the product offers value for money.
© 2009 Ian Marcousé and Naomi Birchall…read more

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Comments

adam scolen

less is more you have noghing

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