Decision making to improve marketing performance

  • Created by: ellie
  • Created on: 26-02-21 13:57

Marketing objectives 

  • Marketing objectives are likely to be informed by research and potentially constrained by budgets 
  • Sales volume and value
  • Market size 
  • Market and sales growth
  • Market share
  • Brand loyalty 

Sales volume and sales value 

  • Sales volume is the amount of sales expressed as a number of units sold
  • Sales value is the amount of sales expresses as the total sum of money spent by customers 

Market size

  • The total sales value or sales volume in a given market 

Number of units sold x price 

Market and sales growth 

  • The percentage increase in the size of the maket by value or volume over a period of time

Change in size of market / original size X 100

Market share 

  • The proportion of total market sales that a firm has 

Business A sales / Markey sales X 100

Brand loyalty

  • Exists when customers keep returning to buy a recognised brand 


  • Promotional method thatinvolved the creation of an identity for a business that distinguishes it and its products from competitors 

Internal influences on marketing objectives 

  • Finance 
  • HR
  • Operational issues 
  • Corporate objective 

External influences on marketing objectives 

  • Competitors actions 
  • Market factors 
  • Technological change 
  • Ethical and environmental 

Market research 

  • Market research is the collection and analysis of data and information to inform a busines about its market 
  • Primary market research involves the collection of firsthand data that did not exist before and therefore it is original data 
  • Secondary market research is research that has already been undertaken by another organisation and therefore already exists 
  • Quantitative research produces numerical statistics- facts and figures
  • Qualitative research looks into the feelings and motivations of consumers 

Market mapping 

  • A market map is a diagrammatic technique that enables businesses to display the perceptions of customers 

Value of sampling 

  • Businesses cannot ask for the opinions of all potential customers and therefore try to choose a representative sample 

Types of sampling 

  • Random -  a sample is selected for study from a population where each individual is chosen entirely by chance 
  • Quota - the population is first segmented into subgroups before a judgement is made in selecting respondents that are representative of that subgroup 
  • Stratified - the population is first segmented into subgroups before respondents are randomly selected from within that subgroup

The interpretation of marketing data 

  • Inform decision making 
  • Devising stratgey 
  • Identify sales patterns 


  • Identifying a relationship between two variables 

Correlation can be:

  • Positive  - the two variables move in the same direction
  • Negative - the two variables move in opposite directions 
  • Zero- there is no relation between the factors 
  • The correlstion can be expressed on a spectrum -1 to +1

Confidence levels

  • Confidence levels reflect the degree of certainty with which a business believes a stated outcome will happen 
  • Will be affected by factors such as the sampling technique, research method and expertise of…


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