1. Thought for the day:
“The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.” Druker 1

2. Marketing Plan 4.2

3. Lesson 5: Revison- Using the Specimen question paper
Target
Learning Objective
Who?
Keywords 
Apply the elements of the marketing mix to given situations.
Discuss the effectiveness of a selected marketing mixin achieving marketing objectives.
Construct an appropriate marketing mix for a particular product or firm.
Explain the value of a marketing audit as a business tool.
Identify possible target markets.
ALL D
(AO1)
HL: Apply Porter’s five forces model to classify and analyse competitive pressures in the marketplace.
Examine how appropriate the marketing objectives are in achieving the goals of an organization.
Analyse the role of market research.
Analyse the usefulness of market segmentation and consumer profiles
Apply an appropriate marketing mix to the target market(s).
Construct a position map from given information.
Discuss how organizations can differentiate themselves and their products from competitors.
HL: Develop and evaluate strategies designed to change customer perceptions.
Analyse sales trends and forecasts from given data, and evaluate the significance for marketing and resource planning.
MOST
C-B
(AO2 & 3)
Discuss the ethical issues of what is marketed and how it is marketed: nationally, internationally and across cultures.
HL: Discuss the effectiveness of a selected marketing mix in achieving strategic objectives.
Evaluate different methods of market research.
HL: Evaluate different methods of sampling, for example, quota, random, stratified, cluster and snowballing.
Design or evaluate marketing strategies for given situations. Applyan appropriate marketing mix to the strategy.
SOME A
(A04)
Lesson 5: Revison- Using the Specimen question paper

4. Starter:
What is a marketing Plan?
Play

5. Marketing objectives
L/O: Examine how appropriate the marketing objectives are in achieving the goals of an organization.

6. Marketing objectives Target of the marketing department.
- sense of purpose
- allow progress (monitored)
- Help with planning and developing
E.g: market leadership, product positioning, customer satisfaction, diversification, market development, new product development, product innovation, high market standing.

7. Marketing objectives
L/O: Examine how appropriate the marketing objectives are in achieving the goals of an organization.
Firms Goals:
Growth
Image/reputation
Market standing
E.g: market leadership, product positioning, customer satisfaction, diversification, market development, new product development, product innovation, high market standing.
Target of the marketing department.
- sense of purpose
- allow progress (monitored)
- Help with planning and developing

8. Marketing mix·
The marketing mix is probably the most famous marketing term. Its elements are the basic, tactical components of a marketing plan.
Play

9. Marketing mix·
product (including range of pack sizes and/or flavours or colours)
price (long-term pricing strategy and pricing method)
promotion (branding, advertising, packaging and sales promotions)
place (choosing distribution channels and seeking shop distribution

10. Marketing mix· Product· Place· Price· Promotion· People· Process·
Physical evidence·
Packaging
Play

11. Apply the elements of the marketing mix to given situations.
L/O:
Apply the elements of the marketing mix to given situations.
Discuss the effectiveness of a selected marketing mix in achieving marketing objectives.
Construct an appropriate marketing mix for a particular product or firm.
HL: Discuss the effectiveness of a selected marketing mix in achieving strategic objectives.
Higher Level

12. ACTIVITY Pretend you are creating your own chocolate Bar Company name
Write your: Business Objectives
Write your: Marketing Objectives

14. Product
Typically, a product is divided into three basic levels. The first level is often called the core product, what the consumer actually buys in terms of benefits.
Next is the second level, or actual product, it consists of the brand name, features, packaging, parts, and styling.
The final, or third, level of the product includes additional services and benefits that surround the first two levels of the product.
Examples are technical assistance in operating the product and service agreements.
The Product Life Cycle (PLC)
The Boston Matrix
Ansoff’s Matrix

15. The Product Life-Cycle
After a period of development it is introduced or launched into the market; it gains more and more customers as it grows; eventually the market stabilises and the product becomes mature; then after a period of time the product is overtaken by development and the introduction of superior competitors, it goes into decline and is eventually withdrawn.

16. The Boston Matrix The Boston Matrix:
A means of analysing the product portfolio and informing decision making about possible marketing strategies
Developed by the Boston Consulting Group – a business strategy and marketing consultancy in 1968
Links growth rate, market share and cash flow

17. The Boston Matrix

18. Dogs.
These are products with a low share of a low growth market. These are the canine version of 'real turkeys!'. They do not generate cash for the company, they tend to absorb it. Get rid of these products.
Cash Cows.
These are products with a high share of a slow growth market. Cash Cows generate much more than is invested in them. So keep them in your portfolio of products for the time being.
Problem Children/Question Mark
These are products with a low share of a high growth market. They consume resources and generate little in return. They absorb most money as you attempt to increase market share.
Stars.
These are products that are in high growth markets with a relatively high share of that market. Stars tend to generate high amounts of income. Keep and build your stars.

19. Ansoff’s Matrix

22. ACTIVITY TASK Describe the packaging of your bar
Describe your chocolate bar and the product life cycle
Describe your chocolate bar and the Boston Matrix
Describe your chocolate bar and the Ansoff’s Matrix
Advantage of developing/having a brand (brand awreness/development/loyalty)
L/O Apply the elements of the marketing mix to given situations.

24. PRICE

26. Price
The choice of pricing strategies will depend to some extent on the long-term objectives of the business for example;
Making a profit
Pricing to keep the competitors out of the market
Pricing which positions the company at the luxury end of the market
Pricing to maximise sales and make the business a market leader
The following are short-term pricing strategies which can be used

27. Research the following price strategies, state when they would be appropriate to use.
Cost-plus
Price leadership
Penetration
Skimming

28. Some different pricing strategies
Premium Pricing.
Use a high price where there is a uniqueness about the product or service. This approach is used where a a substantial competitive advantage exists. Such high prices are charge for luxuries such as Cunard Cruises, Savoy Hotel rooms, and Concorde flights.
Penetration Pricing.
The price charged for products and services is set artificially low in order to gain market share. Once this is achieved, the price is increased.
Economy Pricing.
This is a no frills low price. The cost of marketing and manufacture are kept at a minimum. Supermarkets often have economy brands for soups, spaghetti.
Price Skimming.
Charge a high price because you have a substantial competitive advantage. However, the advantage is not sustainable. The high price tends to attract new competitors into the market, and the price inevitably falls due to increased supply. Manufacturers of digital watches used a skimming approach in the 1970s. Once other manufacturers were tempted into the market and the watches were produced at a lower unit cost, other marketing strategies and pricing approaches are implemented.

29. ACTIVITY TASK decide on the pricing strategies for your chocolate bar
Justify your decisions by mentioning your aims and objectives, your research and target audience

31. Promotion

32. Promotion
This element of the 4 Ps of marketing focuses on communicating with your customer.
It consists of a blend of advertising, personal selling, sales promotion and public relations tools.

33. 1) Advertising
Any paid form of non-personal communication of ideas or products in the "prime media": i.e. television, newspapers, magazines, billboard posters, radio, cinema etc. Advertising is intended to persuade and to inform. The two basic aspects of advertising are the message (what you want your communication to say) and the medium (how you get your message across)
(2) Personal Selling
Oral communication with potential buyers of a product with the intention of making a sale. The personal selling may focus initially on developing a relationship with the potential buyer, but will always ultimately end with an attempt to "close the sale".
(3) Sales Promotion
Providing incentives to customers or to the distribution channel to stimulate demand for a product.
(4) Publicity
The communication of a product, brand or business by placing information about it in the media without paying for the time or media space directly. otherwise known as "public relations" or PR.

34. Key questions for Promotion
What are our objectives from advertising (increase sales, branding, improve image)?
Who is the target market / audience?
What image do we want to portray?
Which Method of promotion will best reach our target audience?
Will to additional cost of advertising actually generate enough sales to pay for itself?

35. Pg 296 Above the Line (paying for communication with consumers)
Advertising
-informative
-Persuasive
The bigger the firm the bigger the budget
Choose the right media – cost, target audience. Type of product and message, other of the 4 Ps, Law & constraints).
Below the line
(not directly paid for, short term incentives)
Sales promotions – special offers, deals.
Leads to short term increase in sales.
Price deals, loyaty cards, coupons, point of sale dsplays, BOGOF, games and promotions, PR, sponsorship.

36. The Promotion mix
The combination of promotion techniques that a firm uses to communicate the benfits of its products to its customers.
The wider market mix.
Blanace ads, sales promotion, direct marketing and personal selling in a planned and structured way.
8 steps (pg 297)

37. ACTIVITY TASK Decide the Promotion Mix for your chocolate bar.
Make sure you justify your promotional decisions.

38. How the promotional mix may vary over the life cycle of a product
Pg 300

39. PLACE
Objective: discuss different distribution channels and assess their appropriateness in different circumstances.

40. Place
Place is also known as channel, distribution, or intermediary. It is the mechanism through which goods and/or services are moved from the manufacturer/ service provider to the user or consumer

41. Definition of Place
The place element of the marketing mix involves decisions about the location in which goods & services can be purchased
The distribution channels through which they pass from producer to final user, and the physical distribution methods used

42. Why the choice of distribution channel is important (pg 300)

43. Intermediaries
These are groups that operate between producers & consumers on a number of different channel levels. They include:
Agents
Wholesalers
Distributors
Dealers
Retailers

44. Typical marketing channels for consumer product

45. Channel strategy (pg 300)
Factors influencing choice (pg 300)
Appropriate channels (pg 301 – 302)

46. ACTIVITY TASK
Explain which distribution channel is suitable for your chocolate bar, and why
L/O Apply the elements of the marketing mix to given situations.

48. Lesson 5: Revison- Using the Specimen question paper
Target
Learning Objective
Who?
Keywords 
Apply the elements of the marketing mix to given situations.
Discuss the effectiveness of a selected marketing mixin achieving marketing objectives.
Construct an appropriate marketing mix for a particular product or firm.
Explain the value of a marketing audit as a business tool.
Identify possible target markets.
ALL D
(AO1)
HL: Apply Porter’s five forces model to classify and analyse competitive pressures in the marketplace.
Examine how appropriate the marketing objectives are in achieving the goals of an organization.
Analyse the role of market research.
Analyse the usefulness of market segmentation and consumer profiles
Apply an appropriate marketing mix to the target market(s).
Construct a position map from given information.
Discuss how organizations can differentiate themselves and their products from competitors.
HL: Develop and evaluate strategies designed to change customer perceptions.
Analyse sales trends and forecasts from given data, and evaluate the significance for marketing and resource planning.
MOST
C-B
(AO2 & 3)
Discuss the ethical issues of what is marketed and how it is marketed: nationally, internationally and across cultures.
HL: Discuss the effectiveness of a selected marketing mix in achieving strategic objectives.
Evaluate different methods of market research.
HL: Evaluate different methods of sampling, for example, quota, random, stratified, cluster and snowballing.
Design or evaluate marketing strategies for given situations. Applyan appropriate marketing mix to the strategy.
SOME A
(A04)
Lesson 5: Revison- Using the Specimen question paper

49. Your Market Mix
You have now Constructed an appropriate marketing mix for a particular product or firm.
Plan your presentation.
L/O: .
Construct an appropriate marketing mix for a particular product or firm.

50. Your Market Mix
Discuss the effectiveness of the selected marketing mix in achieving the stated marketing objectives.
L/O:
Discuss the effectiveness of a selected marketing mix in achieving marketing objectives.

51. Exam Question Nov 2006 SL paper Q2 (a) (c) (d) Individually Level 4
Peer Assess
Teacher Assess
Nov
2006
SL paper Q2
(a)
(c)
(d)
Level 2
Explain: ‘Describe with reason.’
-”The reason for this is…”
Level 4
Discussion: ‘Investigate by reasoned argument.’
-”After considering both sides, in my opinion it would be…”
Evaluate: ‘Make a reasoned decision.’ 51

52. Ethics of marketing
L/O: Discuss the ethical issues of what is marketed and how it is marketed: nationally, internationally and across cultures.

53. Ethics of marketing
Ethics are a collection of principles that underpin decision making.
Ethics refers to the study of moral principles, or “right and wrong”,
therefore marketing ethics is all about marketers doing the “right thing”.
Exactly what the right thing is, is not always completely clear-cut since what is “right” may vary depending on whether you are looking at it from the perspective of the company, its customers or the society in which they both exist.

54. Ethics of marketing
There are however several basic principles involved in ethical marketing :
Taking responsibility : marketers need to take responsibility for their products and their decisions. In the past marketers have often responded to social concern about particular products by defending them on the basis of “It was what the customer wanted”;
Dealing fairly : marketers need to be honest and fair in their dealings with all stakeholders. This means that products must be fit for use and accurately described, and contracts (both formal and implicit) should be drawn up in good faith and honoured;
Respecting consumer rights : including the right of redress, the right to information and the right to privacy;

55. Ethics of marketing: Marketing can fall foul of accusations of unethical behaviour in a number of ways…
Misleading, false claims.
Price comparisons.
Failing to mention conditions of sale.
Advertise a short term price (and not mention when it ends).
‘Door stepping’ – turning up at someone's home and trying to get them to switch companies (e.g gas). Commission-based sales may make staff ‘bully’ home owners.
Cheap suppliers
Selling the product based on something other than the product itself e.g. Sex appeal or fear.

56. Ethics of marketing
In marketing ethics particular emphasis is given to safeguarding the interests of vulnerable consumers, such as children and the elderly.

57. Ethics of marketing
In practice many companies and organisations have attempted to deal with issues of marketing ethics by developing codes of conducts. A good example of a clear code of marketing conduct is the Canadian Marketing Association’s code on information-based marketing.

59. Ethics of marketing
Business must also consider the international aspects of marketing ethics.
Business wish to save money by running the same ads globally.
Need to consider the ads may be perceived differently in different countries.

60. Activity
Discuss
Choose an industry you are interested in.
-Which of the elements of the marketing mix are most important to businesses in this industry? Why?
What limits the organisations to market directly to children? 60

61. TOK
Is it unethical for an organisation to market directly to children.

62. Ethics of marketing
Children are a vulnerable group (not being able to tell the difference between a TV program and advertising).
Sweden has banned advertising for children under the age of 12.
Sweet shops must place sweets out of the reach of little children to avoid ‘pester power’.

63. Marketing audit
L/O: Explain the value of a marketing audit as a business tool.

64. Marketing audit
Businesses will want to assess the balance of their marketing mix continually.
A Marketing audit looks at the cost effectiveness of a marketing activity on a periodic basis.
It will consider the internal and external environment in order to identify the firms strengths and weaknesses, Opportunities and threats facing the business.

65. RECAP:
SWOT analysis.
Play

66. Marketing audit
Business must consider their SWOT factors and try to find ways of using their marketing activity to maximise their strengths and minimise the damage caused by threats.
By matching strengths and opportunities, firms can get a clear direction for the future success of the business.

67. Porter’s five forces Play Higher Level
L/O: Apply Porter’s five forces model to classify and analyse competitive pressures in the marketplace.
Play

69. Market research· Role of market research·
Primary and secondary research
L/O:
Analyse the role of market research.
Evaluate different methods of market research.

72. Activity In pairs Discuss What are the advantages and disadvantages of
Primary
Secondary
Research. 72

73. Quantitative market research Qualitative market research
Higher Level
Quantitative market research
Qualitative market research
Pg 192
Clarke

74. Activity
In pairs
Discuss
Pg 260 – Activity 25.5 74

76. Recap

81. Sampling Methods of sampling Limitations of sampling, Sampling errors
Higher Level
Introduction
L/O: different methods of sampling, for example, quota, random, stratified, cluster and snowballing.

82. Emma does a survey to find out what types of TV programmes people like to watch. She wants to interview 70 people. These are the number of students in each year level: Use the Stratified Sampling method to decide how many pupils should be asked from each year.
How to do it:
Play

83. Sampling Methods of sampling Limitations of sampling, Sampling errors
Higher Level
L/O: Evaluate different methods of sampling, for example, quota, random, stratified, cluster and snowballing.

84. Exam Question Nov 2006 SL paper Q1 (d) Individually Level 4
Peer Assess
Teacher Assess
Nov
2006
SL paper Q1
(d)
Level 1
Describe: ‘Give an account.’
-”Tell a simple story…”
Level 2
Explain: ‘Describe with reason.’
-”The reason for this is…”
Level 3
Analyse: ‘Divide and break down.’
-”The reason for the situation are many and can be explained by…” 84

85. Market segmentation and consumer profile
L/O: Analyse the usefulness of market segmentation and consumer profiles.

86. Market segmentation
Define: A market segment is a sub-set of a market made up of people or organizations with one or more characteristics that cause them to demand similar product and/or services based on qualities of those products such as price or function.
Play – industry

87. Consumer Groups
Play – teaching clip…. Support material: A 15min lecture
Hand out notes:
Play – Mc Donalds

88. Target markets L/O: Identify possible target markets.
Apply an appropriate marketing mix to the target market(s).
A target market – the market segment that a particular product is aimed at.
Pg 263

89. Positioning·
Corporate image· Position/perception maps· Unique selling point/ proposition (USP)
L/O: Construct a position map from given information.
Discuss how organizations can differentiate themselves and their products from competitors.
HL: Develop and evaluate strategies designed to change customer perceptions.

90. Positioning
Market research not only clarifies a firm’s target market, primary and secondary market segmentation and general customer profiles, but also can reveal consumer’s perceptions of existing brands.
This is called positioning and can be ascertained through the marketing technique called market mapping.
Once primary research data is collated, key features of the firm’s brand image may be analysed, such as:
Price of good or service
Quality
Image
Level of comfort/convenience
Each product/service will have different features. Once collated, two key features can be mapped against each other. .

91. This analysis is helpful in many ways:
Potential gaps in the market
Less risky gaps in the market
Greatest ‘niche’ potentials
Repositioning of existing brands

92. Positioning

93. So, tactical responses may be implemented.
However, greater strategic direction can also be ascertained from such research in terms of a firm’s reputation and overall image. A positive corporate image can lead to brand loyalty and sustained sales. Davis Young (1996) recommends the following steps in achieving a positive corporate image: 
Focus on long-term reputation, not short term profits
Insist on honesty in all business dealings
Uphold the stakeholders’ right to information about company performance
Develop ethical objectives- social and environmental audits; codes of conduct; corporate social responsibility (CSR)

94. Positioning
If a business wishes to target a niche, it will find it useful to analyse the current state of the market. Market or position maps allow the business to see where existing brands are aimed and identify potential profitable niches in the market.
Pg 195 Clarke.

95. Unique selling propositions (USP)
L/O: Discuss how organizations can differentiate themselves and their products from competitors.

96. Unique selling propositions (USP)
USPs are key in protecting a niche once a business has identified it.
If a product doesn’t have something special or different about it, customers may be easily tempted away by rival products.
Companies spend a lot of time and money ensuring that their product is clearly differiated both in the design and branding.

97. Market research can also lead to the establishment of an USP- a differentiating factor that makes a company’s product/service unique, designed to motivate a customers to buy.
Marketing Mix
Example 1
Example 2
Product
Dyson’s vacuum cleaners offer ‘dual cyclone technology’
Price
‘Never knowingly unsold’ – John Lewis department store
Place
Dell computers almost exclusive internet distribution channel
Promotion
“When it absolutely, positively has to be there overnight’ (FedEx courier service)

98. ACTIVITY Using your chosen brand, complete the following:
construct a position map from given information
discuss the corporate image
outline the unique selling point/proposition (USP)
discuss how your organisation can differentiate
HL- develop and evaluate different strategies using the 4Ps/8Ps

99. NICHE VERSUS MASS MARKETING

100. Definition
Mass Marketing means devising products with mass appeal and promoting them to all types of customers.
This limits the sales potential but makes the product more attractive to those in the target group.

101. Mass Marketing
Mass marketing is the attempt to create products or services that have universal appeal.
Rather than targeting a specific type of customer, mass marketing aims the product at the whole market.
The intention is that everyone should be a consumer of the product.

102. Mass Marketing
Coca Cola is a good example of a firm that uses mass marketing techniques.
The company aims its product at young and old alike. Its goal has always been to be the market leader, and it still is today.
The ultimate goal of mass marketing is to achieve market domination.
The ultimate prize of mass marketing is the creation of generic brands.

103. Generic Brands
These are brands that are so closely associated with the product that customers treat the brand name as if it were a product category.
Examples include Hoover (vacuum cleaner) and Bacardi (white rum).

104. The Origins of Mass Marketing
Mass marketing started alongside mass production at the turn of the twentieth century.
The architect was Henry Ford and the product was the Model T.
Ford decided that he wanted to see every American family owning a Ford car.
To do this profitably Ford had to revolutionise the way that cars were produced.

105. The Origins of Mass Marketing
By producing a standardised product from standardised parts Ford was able to reduce his costs and cut its prices.
As prices were cut, sales rose and more American families bought the Ford car.
Ford’s mass marketing and mass production strategies had given the company over 50% of the US car market.

106. The Origins of Mass Marketing
If mass marketing is carried out successfully it can be highly profitable.
Even today many firms still set out to be high volume, low margin operators and achieve handsome profits.
It is important to note that mass marketing does not have to go hand in hand with low prices.

107. The Origins of Mass Marketing
For example, Calvin Klein, producer of CK One, took the decision to target its latest fragrance at the mass market.
First, by taking the unusual step of aiming its latest fragrance at both men and women the target market was doubled at a stroke.

108. The Origins of Mass Marketing
The decision to attract the mass market was also evident in terms of distribution policy.
Calvin Klein decided to sell the fragrance through record shops as well as the more traditional distribution outlets of boutiques and department stores.
The company’s mass marketing strategy was vindicated by phenomenal sales and profitability.

109. The Origins of Mass Marketing
A highly effective advertising campaign featuring the supermodel Kate Moss provided the necessary Product Differentiation to sell high sales volumes without the need to cut prices.

110. Ford’s Virtuous Reinforcing Circle
Low Costs
Increased Sales
Which created
Which in turn created
Low Prices

111. Niche Marketing A market niche is a small segment of a larger market.
Niche marketing is the process by which firms attempt to, first, find and then exploit new or under-served market sectors.
It involves aiming at a relatively small target market with a specialised product designed to meet the specific needs of that niche.

112. Niche Marketing
Firms using niche marketing need high prices to compensate.
Therefore, the product must be highly differentiated and highly valued by the niche it is aimed at.

113. Niche Marketing Niche Marketing
There are many reasons why firms in the motor industry have chosen to adopt niche marketing strategies.
Niche markets can act as safe havens for small firms.
In the mass market the small firms will always struggle against the economies of scale of larger firms.

114. Niche Marketing
To survive, small firms often operate in niches that are too small for large firms to be interested.
Large firms may switch to a niche marketing approach when a market has stopped growing.
In a mature market the only to gain further sales is to take market share from competitors.

115. Niche Marketing
Niche marketing can also be used to help improve the sales of mass market products sold by the same manufacturer.
Jaguar launched the high performance XJ220 partly to provide additional glamour to the family brand name.
Niche market products can be highly profitable in their own right.

116. Niche Marketing
The effect on the overall company profits can be even more substantial.
The XJ220 created a ‘halo effect’ that added value and sales volume to the more established Jaguar models.

117. How do firms go about identifying new market niches?
The approach used to identify niche markets varies from company to company.
If possible be closed to your own market.
Small firms may have an advantage over larger firms in terms of identifying market niches.

118. Niche Marketing
Many ideas for niche market products come from direct customer feedback at the point of sale.
Small specialist firms are often run by enthusiasts.

119. Niche Marketing Utilise modern secondary market research information.
Both manufacturers and retailers have always been keen to exchange sales figures in order to gain valuable market intelligence information.
The fact that many shoppers use retail loyalty cards has added even more value to this data.

120. Databases can now be merged and cross-referenced so that retailers and manufacturers know not only what has been sold but also the identity of the buyer.
Knowing the identity of the potential buyer is vital for targeting promotions.

121. Evaluation Which is better, Mass or Niche Marketing?
It depends really!!!
In the bulk ice-cream market, large packs of ice-cream have become so cheap that little profit can be made.
Therefore, it is better to be in the Niche market, e.g. Haagen Dazs, Tom & Jerry, etc.

122. Conventional businesses such as Heinz, Kellogg’s and even Chanel show that mass marketing does not have to mean devaluing a brand name.

123. Sales forecasting and Trends · Seasonal, cyclical and random variation
Higher Level
L/O: Analyse sales trends and forecasts from given data, and evaluate the significance for marketing and resource planning.

124. Predicting future trends based on what has happened in the past.
Extrapolation
Predicting future trends based on what has happened in the past.

125. Extrapolation graph Sales volume Forecast Actual Months
Variables that affect it: seasonal influences, new/random factors (e.g. September 11th). Things like the economy are accounted for in the graph.
Months

126. How to do moving Averages
PDF ‘Market Analysis - business studies online’
Pg 269 activity

127. Development of marketing strategies and tactics
L/O: Design or evaluate marketing strategies for given situations. Apply an appropriate marketing mix to the strategy.