Summary
Summary Business studies: Marketing (IEB Syllabus)
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Summary of 16 pages for the course Business Studies: Grade 12 ieb notes at 12th Grade (Marketing (IEB))
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Marketingdescribed as all the activities that have an impart
on the image of the business and the customer Yecition
either to buy or not to buy the product or ten ice
based on different to the business
experiences relating
Definitionmarketing in the social prosit by which individua
and groups obtain what they need and want through creating
and exchanging products and value with others
The market
a
plan where good and services are bought and sold
good are bought by the target market
the market can exist eleitranically or be face to face
Produit orientated approath
When this approach is followed the business concentrates on the skills
knowledge and systems needed ta produce a specific product
researth is focused on the product and characteristics of the
preadult
Market orientated approach
this approach demand the busines to forms on satisfying the
nerds and want of the customers
the emphasis on market research on an on going basil
to ensure change in the consumer need wants are identified
,The marketing proless
marketing involves all the activities that a competitive
gain
advantage the business must understand the need I want
of the market
the business must be able to predict future trend to be
able to satisfy the needs and want of cunsomer
1
ve tan
development
y y
4 2
sales Promotion
Logistics
distribution
1 Marketing starts with market research The research process
helps the business to understand the expectation of consumer
in terms of
the proluit servile and the demand in term of the pathaging
the price people are prepared to pay
where the target market want to have a scan to the
product service
, preferential channel of communications to relieve info on
the product
2 Promotion is about informing the target market about the
produit service
3 Logistics involves the movement of the product service to
ensure that it reaches the right target on time
4 refers to
Sale the of transferring ownership of
process
the produit from the business customer
The aims of the marketing function
creating and maintaining a competitive advantage this will
help to increase
mignthff the market
owned by th business
developing new product service or
improving them may help
to broaden the target market
identifying new markets for the business locally globally will
ensure that the business has the opportunity to
grow and improve
profitability
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