100% tevredenheidsgarantie Direct beschikbaar na je betaling Lees online óf als PDF Geen vaste maandelijkse kosten
logo-home
Summary AQA A Level business unit 3 - decision making to improve marketing performance $5.95
In winkelwagen

Samenvatting

Summary AQA A Level business unit 3 - decision making to improve marketing performance

 0 keer verkocht
  • Vak
  • Instelling

AQA A Level business unit 3 - decision making to improve marketing performance summary sheet

Voorbeeld 2 van de 9  pagina's

  • 13 juni 2024
  • 9
  • 2023/2024
  • Samenvatting
avatar-seller
Section 3 - Decision making to improve marketing performance


Setting marketing objectives -
The marketing function of a business provides the link between the customer and the business.
Relationship marketing - attempts to build long-term partnerships with customers in order to
retain them and build connections.
Market analysis - involves meaning the particular characteristics of a market e.g. size / growth

The process of marketing decision making involves:
- Setting marketing objectives
- Understanding what customers want / need / can afford
- Understanding the conditions in the market
- Understanding your business strength in comparison to competitors
- Understanding how best to deliver the benefits that customers are willing to pay
- Implementing marketing decisions
- Reviewing

Marketing decision making should be ethical.

Examples of marketing objectives:
- Sales volume and sales value targets
- Sales growth target
- Market share (= sales of product / total market sales x 100)
- Brand loyalty

Why do businesses want high market share?
Businesses want high market share because it means they will have relatively high sales and so
higher profits. Through having a relatively high output, it can give the business power of its
suppliers and partners allowing them to negotiate better deals for the business. Having a relatively
high share in the market can raise the profile of the business, strengthening its brand image.

Internal influences on marketing objectives & decisions:
- The overall strategy of the business
- The ambitions of the managers
- The existing position of the business
- The amount the business can produce
- Finance of the business
- The employees of the business

External influences on marketing objectives & decisions:
- The political & legal environment
- Economic change (2008 recession in the UK meant incomes fell)
- Social change
- Technological change
- The competitive environment

PESTLE analysis - political / environmental / social / technological / legal / economic

, Section 3 - Decision making to improve marketing performance


Understanding markets & customers -
Market research can be used to:
- Analysis the existing position of the business
- Deciding on possible marketing objectives
- Identify possible actions that could be taken
- Deciding on the actions to take and how to implement them best
- Assessing how effective marketing decisions have been




Primary data - collected by those who need it Secondary data - collected by someone else

Advantages - Customised / specific data tailored to - Cost effective
the company’s needs - Less time-consuming / quick
- Up to date information / current and - There's potentially already large
relevant quantities of data available
- Can provide insights into competitors - Published results may already been
strategies and performance - verified
understanding them better - You have the ability to compare
- Convenient multiple sources of data

Disadvantages - Time consuming - Reliability is unknown
- Costly - Collection method is unknown
- Potential bias - Could be out of date
- Data won't be specific to the business

Examples - Online survey - News articles / published sources
- Focus groups - Internet
- In-person interviews - Research databases

Dit zijn jouw voordelen als je samenvattingen koopt bij Stuvia:

Bewezen kwaliteit door reviews

Bewezen kwaliteit door reviews

Studenten hebben al meer dan 850.000 samenvattingen beoordeeld. Zo weet jij zeker dat je de beste keuze maakt!

In een paar klikken geregeld

In een paar klikken geregeld

Geen gedoe — betaal gewoon eenmalig met iDeal, creditcard of je Stuvia-tegoed en je bent klaar. Geen abonnement nodig.

Direct to-the-point

Direct to-the-point

Studenten maken samenvattingen voor studenten. Dat betekent: actuele inhoud waar jij écht wat aan hebt. Geen overbodige details!

Veelgestelde vragen

Wat krijg ik als ik dit document koop?

Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.

Tevredenheidsgarantie: hoe werkt dat?

Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.

Van wie koop ik deze samenvatting?

Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper daisymay1. Stuvia faciliteert de betaling aan de verkoper.

Zit ik meteen vast aan een abonnement?

Nee, je koopt alleen deze samenvatting voor $5.95. Je zit daarna nergens aan vast.

Is Stuvia te vertrouwen?

4,6 sterren op Google & Trustpilot (+1000 reviews)

Afgelopen 30 dagen zijn er 64670 samenvattingen verkocht

Opgericht in 2010, al 15 jaar dé plek om samenvattingen te kopen

Begin nu gratis

Laatst bekeken door jou


$5.95
  • (0)
In winkelwagen
Toegevoegd