2. OCR Level 3 Cambridge Technicals in Business Unit 3: Introduction to Marketing

3. Good marketing is at the heart of every successful business…. Without effective marketing a business will die.

4. Marketing techniques Businesses can use different marketing techniques: Market penetration, product development, market development, diversification Growth Developing a brand profile Branding What type of relationship the company wishes to hold with its customers. The techniques devised to deliver this plan. Relationship marketing

5. Market Research Carried out indirectly, eg over the internet Primary There are two main types of market research: First hand, eg face to face research Secondary

6. Segmentation and Targeting Where does the product sit, in which segment? Target the market to meet customer needs Successful product

7. The Marketing Mix Place Price Promotion Product Place Competitive prices, lower than key competitors like premium coffee shops Cafes in many locations, which are easy and convenient for consumers to access Direct mail with samples and coupons, sponsorship Relaxing venues, Premium products

8. A new strategy for McDonalds As you can see, McDonalds made some radical changes to their traditional marketing mix, which was a risk, as it could have alienated their traditional customer base. But this strategy is an example of how companies can survive long term by adapting their marketing strategy to meet the needs of the current marketplace.

9. What will you learn? Know the role of marketing in organisations Be able to use marketing research and marketing planning Understand how and why customer groups are targeted Be able to develop a coherent marketing mix for a new product or service After completing this unit you will:

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