Essay
BTEC Business Level 3 Unit 4 D1
- Course
- Institution
BTEC Business Level 3 Unit 4 D1
[Show more]
3 reviews
By: olifarrell01 • 3 year ago
By: jakegough • 4 year ago
By: hag123139 • 5 year ago
Seller
Follow
chernatdaniil
Reviews received
Content preview
BTEC level 3 Diploma in Business Daniil ChernatUnit number: Unit 4 Unit ttle: Business communicaton
D1) Evaluate the appropriateness of business informaton used to make strategic decisions.
Information they require to maee ttrateii ee itiont
The marketing function will need to know the population of the local area and how big
the city is. As an example, I am going to use Oxford Tutorial College. The reason for the
marketing function to know how many people live in the local area is because OTC must
know how many students in Oxford have are aged 15 – 18 and what percentage of this
group may be interested in attending courses at OTC. In addition to that, the marketing
function also needs to know the target market for diferent courses at the college,
otherwise OTC might waste time and spend money on buying new furniture and other
resources for a certain course e.g. BTEC Business which might not be a right decision to
make if there are reduced numbers of students likely to join that course.
Marketing will also need to know the cost of each course to be able to promote it
accurately. Other research can help OTC to fnd out more about Oxford’s socio –
economics groups as research suggests that it is students in the socio-economic groups
ABC1 (http://www.abc1demographic.co.uk/) who are most likely to enrol on OTC
courses. OTC must ensure that they provide high quality and successful courses in order
to stand out from their competitors in Oxford.
In addition to that, the marketing function will have to know the needs of students and
how these change over years. The reason why the marketing function is so important is
because if OTC doesn’t know the preferences of the customers (students), management
and directors may make wrong strategic decisions that are not relevant to what
students need or want. This could lead to unnecessary expenses and loss of profts.
Marketing is responsible for promoting the company and courses. If OTC introduced a
new course called BTEC Business, then the college must make sure that the marketing
function knows about this in order to develop key pieces of communication in their
marketing campaign.
In marketing the department will run campaigns and must make sure that they know
the amount of money they can spend by looking at the budgets. OTC marketing will
promote new courses and changes in stafng, as this will help them develop more
interest in The OTC courses. Some of the available business information will be more
relevant than other. For example, knowing the target market will directly influence OTC
marketing campaigns, although demographics may not provide as much useful
information, because it simply informs marketing about people living in Oxford. On the
other hand, the international student market is important to the company therefore OTC
would require information about which countries and international students to target.
The marketing function will be interested in information about how the students needs
change between the years. For example, if college accommodation, IELTS or extra
curricular activities become most important then the marketing function will emphasise
these in the design of their marketing campaign. However, there is a disadvantage in
this process as well. Some of the information might not be reliable, as student’s needs
may change quite quickly in the short term. Therefore, some of the information might
be out –of- data e.g. most common nationalities and languages to use on the OTC
website depending on which students book onto the courses.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller chernatdaniil. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $3.41. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
53068 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now