Slides in this set
Marketing objectives: A target or goal the
business hopes to achieve through outcomes
of a marking plan. EG. INCREASE SALES,
BRAND IMAGE. To do this the business must
make sure that staff are aware of the outcomes
and to concentrate on communication.
Marketing strategy: Medium-Long term plan
for meeting marketing objectives. POISE-
Profitable, Offensive, Integrated, Strategic and
Effective. Includes market research.
Factors that may affect businesses: MARKET
STANDING, ECONOMY, COMPETETION,
CONSUMER TASTE FINANCE
Product- What is the product? Does it meet
Place- Where is the product made
available? Where is it produced?
Promotion- How are customers aware of
the product? (Above the line promotion:
adverts,radio. Below the line promotion:
Price- Does the price cater to customers
needs? (Price skimming: high price to start
off with, Price penetration- low price to
Product life cycle: Theory that all products
follow the same pattern of sales over time.
DIG more slowly dear.
Development: business manufacturing
the product. Cost ^ Promotion
Introduction: product new to the
market. Sales Promotion ^
Growth: ^ Sales, Promotion ^
Maturity: Costs lower, products diversify,
Saturation: ^ competition
Decline: costs , Price discount, promotion,
Boston Matrix: Marketing model that assess all
products in the product portfolio in terms of
market share and market growth.
Star: Promotion is important
Cash cow: `Leader' product, advertising is
Problem child: Product relaunch may be…read more
Social trends: factors that affect the
production of the product and the
Recyclable packaging: this includes re using
the packaging as much as possible (waste
materials). Attracts customers, good
reputation, supported by agencies. Expensive
and could affect the quality of the product.
- Food miles: The calculation of how much
travelling is involved making the product to
- Sourcing sustainable materials: buying
products that will not affect Long term
supplies of the product.
Environmental factors: i.e. Carbon footprint…read more