1. Marketing

2. A market is any place where buyers and sellers come together – it does not have to be a physical place e.g. e-bay
Marketing is not just advertising or selling – it is the whole process of identifying, anticipating and satisfying requirements profitably

3. The 4 P’s What price strategy do you use? Do you match competitors?
Do you undercut them?
Do you sell it cheaply at the launch to boost sales?
Developing and designing a product to satisfy a need or want
Product
Price
Promotion
Place
You must consider where you will sell it.
How will you promote or advertise it?

4. Promotion can be ‘above the line' or ‘below the line’
TV ad’s
Posters
Newspaper ad’s
marketing and pop-ups
Below the line
20% off
BOGOF
Introductory offers
Branding

5. A good advert will sell the benefits of the product to the user - 4 key elements A.I.D.A
A – Gets peoples ATTENTION
I – Gets the person INTERESTED – usually by highlighting a key benefit or making it relevant to the user.
D – Develops a DESIRE- spelling out the key benefits and how it will satisfy a need/want
A – Can lead to ACTION – the person needs to know where and how to but it so they can go and do it.

6. Before you do anything in marketing you first have to do Market Research – the gathering, recording, analysing, and presenting information relevant to the marketing process – there are two main types
Secondary Research
– uses data that already exists
Web-sites
Magazines
Leaflets
Catalogues
Primary Research
- First hand, collected yourself
Questionnaires/Surveys
Interviews
Observations
Experiments
Consumer panels
How will you select the people for your primary research?
RAMDOM SAMPLING – how you should chose your market research audience – to avoid “bias”

7. Problems with PRIMARY RESEARCH?
Unpredictable results
Views and opinions change
They might tell you what you want to hear
People lie (age/income etc)
Might not be a “random” sample – everyone has the opportunity to
answer
Not everyone will return a questionnaire – not a “real” view
Can be expensive

8. Problems with SECONDARY RESEARCH?
Not new information
Is it up to date? Is it current?
Is it carried out correctly? Could be misleading
Could be based on a “biased” view
May need primary research to back up the data!

9. Important TIPS of construction a Questionnaire
Must be quick and easy to fill out
Questions must be suitable for the user
Questions must be clear and avoid confusion.
You must firstly consider the info’ you want to find out – the questions must be designed to get this info’
You should use a mixture of open (no fixed answer) and closed questions (specific answer required)
Closed questions a easier to analyse and should be used when possible
Use tick boxes etc – easier to fill in.

10. Examples of good practice
Please indicate your top three preferred choices, using 1,2,3 - from the list below
Ford …..
Fiat …..
Volvo …..
BMW …..
VW` …..
I love marmite
Strongly agree …..
agree …..
Neither agree or disagree …..
Disagree …..
Strongly disagree …..
What age are you?
Under 
18 – 
26 –  
Over 

11. Examples of bad practice
What age are you? 
18 – 
25 –   
What is your favourite car make?
…………………..
You could ask 20 people and get 20 different answers which tells you nothing
Where would you put 25?

12. TASK ... Pg 131 Advantages and Disadvantages for Research METHODS

13. Throughout the whole process you must consider the characteristics of your target customers – Market Segmentation
Male/Female
Age group
Socio-Economic grouping – Occupation earning bracket etc
Life style habits
Geographical location
Usage habits