Zusammenfassung der Ressource
Marketing
- Market Analysis
- Once a firm has
identified what market
they are operating in,
they then analyse the
market
- Quantitative and
qualititative Ads +Disads
- Quantitative
- Quick to Obtain and analyse
- Reliable and objective
- Data may not be
current especially in a
fast changing market
- May be too much
data and this
causes problems in
analysing
- Qualititative
- Needs of customers
- Why the trends have
happened. Helps to
target market more
effectively
- Time Consuming
- Subjective
human
judgement,
unreliable
- Graphs+Analysis
- Time Series Analysis- Shows fluctuations in data
- Correlation
- Moving averages- Smooths out data that is
seansonal or is erratic
- ICT
- Reduces errors made by humans
- Can compare moving average trend easily
- is able to process much more data than humans
- Can gather data at the point of sale to suit individual customers
- Marketing Strategies
- International Markets
- Benefits of trading internationally
- Firms can increase their market size-
More revenue
- They can extend the life cycle of their products
- Can cut costs on importing raw materials
- Issues trading internationally
- Transport costs can be expensive
- Firms must keep up to date with laws
- Higher business travel costs due to employees
being transported to various locations
- Language barrier
- Exchange rates
- Market plans
- Definition- The written details of
the activities to be used to carry out
the marketing strategy
- Purpose- It helps to ensure
that the marketing activity is
focussed and integrated.
- Components
- Objectives
- Budgets
- Strategy
- Action
- Influences
- Internal
- Amount of Finance
- Results of SWOT
- HR
- Operational issues
- Existing Marketing Mix
- External
- Competitors actions
- Market conditions
- Technological change
- Marketing Budgets
- Objectives and tactics
- Marketing Objectives are
set out by the marking
department and sets out
what they hope to achieve
- Objectives can be
qualitative- product
quality, development
or quantitative form-
Set figures on market
share
- Influences on marketing
objectives
- Internal
- Corporate objectives-
The marking
department must make
sure their objective fits
into the businesses
overall objective
- Finance- This
depends on
how much
money has
been allocated
- HR- Workforce capability
- Operations- capacity
- External
- Market environment
- Technology
- Competitors
- Legislation