3.1.1 The Role of Marketing Marketing, Competition and the Customer is the introduction to marketing. It includes many of the basic concepts that will come up again and again throughout marketing, and indeed the wider course, so you may already be familiar with many of these ideas. ⭐⭐⭐Top Tip ⭐⭐⭐ Learn a clear definition for
3.2.1 The role of market research and the methods used Market research definitely comes under the “boring but important” category. The more a business knows about potential consumers, competitors and the market the greater the chance of success. Market research allows a company to explore a target market and get opinions and other feedback from
The marketing mix is the combination of the 4ps: product, price, promotion and place. Now we will look at each part of the marketing mix individually, in detail. But it’s really important to remember that each one of the 4ps has to complement the complete marketing mix. Getting one part of the marketing mix wrong
3.4.1 Justify marketing strategies appropriate to a given situation: You need to know how to apply the marketing mix to different target markets, analyse what are the most important parts of the marketing mix, and recommend the most suitable marketing strategy. Marketing strategy is the overall plan for achieving a businesses marketing objectives, within the
