UNIT 5 Marketing by Morgan Applin https://padlet.com/dc40019686/hnnljfkv866uk3ru Marketing Unit 5 learning outcome 1-3 en-us 2021-05-04 13:26:34 UTC 2024-07-18 22:05:31 UTC hello@padlet.com Marketing Function dc40019686 https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489529707 Helps a company to identify and source potentially successful products for the marketplace they operate in.  ]]> 2021-05-04 13:28:21 UTC https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489529707 The Purpose of the Marketing Function dc40019686 https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489540267 The Marketing Function is key to how a business can promote itself to its customer base. ]]> 2021-05-04 13:30:23 UTC https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489540267 What the Marketing Function involves? dc40019686 https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489562305 The marketing function makes sure a business sells the right products, at the right price, in the right place, using the most suitable promotion methods. Successful marketing is essential if a business is to survive in a very competitive business world. (The 4p's)]]> 2021-05-04 13:34:25 UTC https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489562305 What are the 4p's? dc40019686 https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489595230 The 4p's are used to meet the needs of customers. 
The 4p's stand for product, place, price and promotion.  ]]> 2021-05-04 13:40:51 UTC https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489595230 Product dc40019686 https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489606575 The specific features and benefits of the product. ]]> 2021-05-04 13:42:59 UTC https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489606575 Place dc40019686 https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489607045  Where and how the product is sold. ]]> 2021-05-04 13:43:04 UTC https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489607045 Price dc40019686 https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489607388 Setting the right price in each market. ]]> 2021-05-04 13:43:09 UTC https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489607388 Promotion dc40019686 https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489607758 Using the most suitable form of promotion to reach customers.]]> 2021-05-04 13:43:13 UTC https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489607758 Market Segmentation dc40019686 https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489608210 Splitting customers into different categories (segments) to enable the targeting of specific products or services to that particular group or category. ​]]> 2021-05-04 13:43:18 UTC https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489608210 Market Research Involves dc40019686 https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489608571 Primary and secondary research is used to inform marketing decisions. ]]> 2021-05-04 13:43:23 UTC https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489608571 Marketing Aims and Objectives dc40019686 https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489615945 Up to three marketing objectives may be set to reach one marketing aim.  
These marketing objectives should link with the wider business objectives. ]]> 2021-05-04 13:44:47 UTC https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489615945 SMART Targets dc40019686 https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489628345 Targets should be made by using the acronym to establish whether the target is SPECIFIC, MEASURABLE, ACHEIVEABLE, REALISTIC and TIMEBOUND.  ]]> 2021-05-04 13:47:12 UTC https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489628345 dc40019686 https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489670242 2021-05-04 13:55:11 UTC https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489670242 Constraints on Marketing dc40019686 https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489684762 Constraints are restrictions that are imposed on individuals or business. ]]> 2021-05-04 13:57:57 UTC https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489684762 Legal Constraints dc40019686 https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489693457
  • Consumer Rights Act 2015​
  • Trade Description Act 1968​
  • Consumer Protection Act 1987​
  • Weights and Measures Act 2006​
  • Consumer Credit Act 2006​
  • Food Safety Act 1990

    • ]]>     2021-05-04 13:59:32 UTC https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489693457     Financial Constraints dc40019686 https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489705054 Financial constraints ​
    Having a specified budget makes a business investigate the most suitable marketing methods for the money available. This can restrict its options but can also be an advantage because it can force a team to think creatively about how best to utilise the finance it does have to achieve what is best for the target market. 
    ]]>     2021-05-04 14:01:53 UTC https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489705054     Voluntary Constraints dc40019686 https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489713605 These are when a person or organisation choses to put these constraints on themselves. ]]> 2021-05-04 14:03:34 UTC https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489713605 Ethical Constraints dc40019686 https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489727433 This is when an organisation considers the values and beliefs relating to its products and/ or services. ]]> 2021-05-04 14:06:18 UTC https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489727433 Cultural Constraints dc40019686 https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489742299 Language, religion, tradition and local customs  need to be considered so you do not offend anyone. ]]> 2021-05-04 14:09:12 UTC https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489742299 Technical Constraints dc40019686 https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489763756
    • Adverts appearing at the start of any downloaded media ​
    • Adverts as text messages ​
    • Email adverts
    • Pop up adds
    ]]>     2021-05-04 14:13:09 UTC https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489763756     Market Research dc40019686 https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489790475 Market research is finding out specific information about a current market. ]]> 2021-05-04 14:18:14 UTC https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489790475 Primary Research dc40019686 https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489801785 Researched data that is collected for a specific purpose. Or any research collected by yourself individually. ]]> 2021-05-04 14:20:21 UTC https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489801785 Secondary Research dc40019686 https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489827511 Data that already exists and has been collected for a different purpose. ]]> 2021-05-04 14:25:09 UTC https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1489827511 Forms of Primary Research dc40019686 https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1491893604 Focus groups, interviews, surveys/ questionnaires. ]]> 2021-05-04 22:20:08 UTC https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1491893604 Tools to carry Primary Research dc40019686 https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1498701962 SAMPLING - Sampling is the way which a business decides who they are going to ask to complete the research, and in what form. 
    PROBABILITY SAMPLING - this is when it is likely that something will happen. 
    NON-PROBABILITY SAMPLING - this method of sampling does not just use any random method. ]]>     2021-05-06 15:32:06 UTC https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1498701962     Probability Sampling dc40019686 https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1498706406 The four main methods are: RANDOM SAMPLING (uses no single group of people), STRATISFIED SAMPLING (divides the population into groups), CLUSTER SAMPLING (divides people into sections know as clusters) and SYSTEMATIC SAMPLING (is when people from a large population are chosen using the random sampling method over a fixed period of time). ]]> 2021-05-06 15:32:53 UTC https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1498706406 Non-probability Sampling dc40019686 https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1498707451 The non-probability method of sampling can be split into two sections: 
    QUOTA SAMPLING (is when a target number of respondents is required to meet the research needs) and CONVENIENCE SAMPLING (uses consumers who happen to be available at the time to complete the research). 
    additionally, JUDGEMENT SAMPLING is a method of sampling that is non-random and is based purely on the opinions of a expect. ]]>     2021-05-06 15:33:04 UTC https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1498707451     Qualitative Questions dc40019686 https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1498710228 Qualitative Questions enable the respondent to inform you of their opinion. (Open Ended Questions)]]> 2021-05-06 15:33:34 UTC https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1498710228 Forms of Secondary Research dc40019686 https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1498724219 2021-05-06 15:36:08 UTC https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1498724219 Influences when deciding what Market Research to do dc40019686 https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1498728641 Reasons for market research
    Availability of resources
    Reporting requirements ]]>     2021-05-06 15:36:59 UTC https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1498728641     Pros and Cons of Market Research dc40019686 https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1498733368 | PROS   | CONS 
    PRIMARY RESEARCH
    | Current data.   | Can be time-consuming. 
    | The data is unique- only you have access unless you publish.  | Can have high-cost constraints. 
    | Can get specific answers, related to its purpose.   | May does not receive the accurate results that you want. 
    SECONDARY RESEARCH
    | Easy access, through online sources.   | Might not have all the necessary information needed. 
    | Quick to find.   | Information may be out of date. 
    | Reliable for its original purpose.   | Some information may be misleading or incorrect.  ]]>     2021-05-06 15:37:54 UTC https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1498733368     Quantitative Questions dc40019686 https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1498834663 Quantitative Questions are the opposite because they restrict the answers that can be given. (Closed Questions)]]> 2021-05-06 15:56:17 UTC https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1498834663 Forms of Secondary Research dc40019686 https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1498923492 Textbooks, encyclopedias, news articles, review articles, and meta analyses. ]]> 2021-05-06 16:13:01 UTC https://padlet.com/dc40019686/hnnljfkv866uk3ru/wish/1498923492