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Marketing Aims & Objectives
Description
9999999999999999999999999 Business Studies Mind Map on Marketing Aims & Objectives, created by theLADhimself on 30/04/2013.
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business studies
business studies
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Mind Map by
theLADhimself
, updated more than 1 year ago
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Created by
theLADhimself
over 11 years ago
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Resource summary
Marketing Aims & Objectives
Aims
What a business wants to achieve.
Regular business aims include: Survival; make a profit; ethicalities etc.
In a niche market, aims may include: providing an individual service; survive etc.
In a mass market, aims may include: Maximize profits; take out a competitor; improve ethicalities etc.
Objectives
How a business achieves its aims.
Regular business objectives include: Adding solar panels; lowering overheads; advertise on TV etc.
In a niche market, objectives may include: selling a certain brand of clothing; selling to the youth market.
In a mass market, objectives may include: keeping a distnictive logo, lowering overheads, etc.
External Factors
Customer Behaviour
Competitor Behaviour
The Economy
Technology
Government
Changes in the Law
Suppliers
Internal Factors
Market Research Findings
Forecasted Sales
Forecasted Profits
Availability of Finance
Advantages of a Mass Market
Able to benefit from economies of scale.
Less risky, since busines is not dependent upon one small segment of the market.
Sales revenues are usually higher.
Disadvantages of a Mass Market
Increased competition.
Difficult to appeal to individual consumers.
Fixed capital costs are usually high - due to the need for large factories and expensive machinery.
Advantages of a Mass Market
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