Marketing

Topics

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Sample objectives

What this unit covers

• Identifying and understanding customers: Explain why businesses identify and satisfy customer needs.
• Identifying and understanding customers: Explain how satisfying customer needs can increase sales, support the marketing mix, avoid costly mistakes and improve competitiveness.
• Segmentation: Explain how businesses use segmentation to target customers.
• Segmentation: Explain why businesses segment by gender, age, location and income.
• The purpose and methods of market research: Explain why businesses conduct market research, including identifying opportunities and understanding customers and competitors.
• The purpose and methods of market research: Explain primary and secondary market research methods, including questionnaires, surveys, interviews, focus groups, internet research and printed press.
• The purpose and methods of market research: Manipulate and interpret data from tables and charts.
• The purpose and methods of market research: Identify benefits and drawbacks of market research techniques and select the best method for a given business.
• The elements of the marketing mix: price, product, promotion and place: Evaluate factors and assess suitable pricing methods for a given business.
• The elements of the marketing mix: price, product, promotion and place: Explain features and impacts of price skimming, price penetration, competitive pricing, loss leader and cost-plus pricing.
• The elements of the marketing mix: price, product, promotion and place: Explain the importance of product design, image and target-market needs.
• The elements of the marketing mix: price, product, promotion and place: Identify and explain the four categories of the Boston Box.
• The elements of the marketing mix: price, product, promotion and place: Explain benefits and drawbacks of promotional methods.
• The elements of the marketing mix: price, product, promotion and place: Explain promotional methods likely to be used by a given business, including advertising, PR, sales promotion, sponsorship and social media.
• The elements of the marketing mix: price, product, promotion and place: Analyse the appropriateness of distribution methods for a given scenario.
• The elements of the marketing mix: price, product, promotion and place: Analyse the growing importance of e-commerce and m-commerce in extending business reach to international markets.
• The elements of the marketing mix: price, product, promotion and place: Explain why the four elements of the marketing mix must work together.
• The elements of the marketing mix: price, product, promotion and place: Recommend appropriate marketing activities for a given business.