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MARKETING
What is marketing ?
Matching a product
With its target markets ______________________
I want...
.
This is done through.........
appropriate Packaging, Pricing,
Promoting “BUY ME”And Placing Where will we sell it?
to induce the customer to__________________________
The need for marketing..........In the beginning of trade people took what they
had grown or made to market, set up a market site and traded it there, so there was little need for “marketing” as the makers of the product sold it directly to the buyer.
As the producers began to produce ________________________________________________________________________________________the relationship between the producer and the consumer began to diminish, and the need for marketing arose
Today’s society and marketing Today it is hard not to experience any marketing
anywhere we are. The main way we experience this is through_____________________________. Thing about the advertisements you may see on a daily basis, radio, television, facebook, posters, billboards, etc.
Advertisements are everywhere!
However marketing is more than just_______________________, it also includes the product features and its packaging, its ________________and the place where it is sold in.
Market Research
In order to know how to market our products we must conduct market research to find out about our customers to then give our product the best chance of becoming successful
Market Research
Research:Needs to be done to find out if there are any
gaps in the market; that is, any consumer wants or needs that are not being satisfied.
Example?
Market Research
Society:Society is continually changing around us,
and the marketing manager needs to investigate whether any of these changes might affect customer attitudes towards a product.
Example?
Market Research
Competitors Finding out about changes to competitors’
products or what customers think of competitors’ products is important.
Any benefit seen in a competitor’s product over the business’s product needs to be acted on quickly and the product changed to match or better the competitor.
Example?
Data collection tools and techniquesPrimary data –
Secondary data –
Primary Market Research
Questionnaire data collection (asking people)----
Observational data collection (observing peoples behaviours)
-
-
Experimental data collection (changing variables)
-
-
QuantitativeQualitative
Secondary Market Research
Internal data sources (inside the
business)
- Research reports - - Annual reports- Sales figures-- Management Reports
External data sources (out side
the business)- Australian Bureau
of statistics-
- Industry reports-
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