OCR Level 2 Cambridge Technicals in Business Introduction to Unit 5: The Marketing Plan

Introduction Marketing is an important part of any business, irrespective of whether the business is big or small. All businesses need to ensure that they are… Making consumers aware of products through promotion Charging prices consumers are willing to pay Providing products that consumers want Making their products and services available in places that are convenient for the consumer

Using the 4 Ps …or small local businesses such as hairdressers… Getting the marketing mix right is just as important for large well-known businesses such as Tesco… Large range of products Competitive prices 2715 stores Within walking distance Regular TV and magazine adverts Adverts in local press Choice of prices, eg own brand products Offer a range of styles

The Marketing Plan A typical marketing plan will outline: The marketing objectives the business is trying to achieve The amount of money available to spend on marketing activities A typical marketing plan will outline: A description of what is happening in the market How the business will know if it has been successful A summary of the business’ current situation An indication of how the business intends to reach them An identification of who the business is trying to reach But this all has to be done within a budget, so it is important to make sure that marketing is carefully planned.

Finding out what consumers want Successful marketing relies upon meeting consumers’ needs. Market research can be done in two ways: Primary Research: Information obtained first-hand, eg using questionnaires or focus groups Secondary Research: Information that someone else has obtained, eg past sales figures or the internet This means a business needs to know what consumers want, which can be discovered using market research.

The Promotional Plan So when planning a promotion it is important for a business to: Promoting a product is much more than advertising, and has to be carefully planned. Decide what the message will be Cost the promotion activity Decide who the audience will be Choose appropriate media for the promotion Carry out and evaluate the promotion It can be very expensive, although it doesn’t have to be. Identify what it wants to achieve by undertaking the promotion

What will you learn? After you complete this unit you will: Be able to plan marketing and promotion Understand marketing concepts used by businesses

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