Summary IB Business Management HL - Topic 4. Marketing
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Course
IB Business Management - Topic 4. Marketing
Institution
Bachillerato
Book
IB Business Management Course Book
The following document contains summarised notes taken on Topic 4. Marketing. This includes: 4.1 The role of marketing, 4.2 Marketing planning (including introduction to the four P's), 4.3 Sales forecasting (HL), 4.4 market research, The four Ps (product, price, promotion, place), 4.6 The extended ...
Social media
marketing
business
technological techniques
:
different
with the aim
of growing a
through a media
↳
get direct feedback ↳ difficult to stand out
↳ low cost ↳
rely on marketing techniques
↳ enhance the brand
,Market in which an
organisation operates :
Market Where people
:
willing and able to purchase a
good ,
service or resource
carry
with those who provide that
out an
exchange are
willing and able to same
It always physical local, national
good service resource is no international
-
or
.
; ,
,
.
↳ Market size
:
total sales .
volume
↳
By :
numbers bought 1 quantitative units)
↳ By value :
spent on the total numbers sold 1€ , $1
↳ Market growth percentage change :
in the market size over
a
given period of time .
↳ Market share percentage of : one firm 's share
of the total
sales in the market .
film 's sales
Market share % =
✗ 100
total sales in the market
↳ increased sales ↳
change in time influence
can
↳ economies of scale ↳
type of products can influence
↳ brand leader ↳ different results obtained
↳ Market leader :
a firm with the highest market share in a
given market
Marketing objectives of for-profit organisations and non
profit
-
organisations
'
:
profit organisations develop market state
↳ For -
:
identify design ,
and rgies
that will be I profitable .
focus on needs and
wants
↳ Non-profit organisations :
social
marketing reasons to
( enhance image influence
encourage donations .
and reputation to behavioural change )
{
↳ attract potential customers ↳ limited
financing
↳ internet marketing
How innovation , ethical considerations and cultural differences influence
marketing
Innovation technology industry
-
↳
-
↳ Ethical considerations -
-
corporate image
↳ Cultural differences :
consumer
lifestyle
, 4.2
Marketing planning ( including the introduction to the four P's)
Marketing plan : document with marketing strategies to achieve the
marketing objectives
The elements of marketing plan :
↳ market objectives Spdiuic Measurable Achievable Relevant Time specific
:
-
, .
, ,
achieve
↳
key strategic plan : to
marketing objectives
information
↳ detailed
marketing actions :
Appropriate marketing mix :
produce the
right product at the right
price available at
,
the right place and communicated
through the
right
promotion channel
To achieve marketing objectives :
↳ well coordination
↳ focus and clearance
↳
degree of competition
audience
↳
target
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