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MarketingUnit 2: Organizational Structure

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Learning objectives

How does marketing help firms to understand and satisfy customer needs?

Why do businesses conduct market research and what methods do they use?

What is the purpose of market segmentation?

What is the marketing mix and how are its components used?

What are the roles of branding and sales?

What is a SWOT analysis?

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Marketing

The Marketing department makes potential and existing customers aware of the goods or services that a business sells.

looking at the business from the customer’s point of viewidentifying customers’ needs and providing for themworking out what customers will need in the futurecollaborating with the Research and Development department to invent new goods and services.

How does the Marketing function affect other functional areas?

It must ensure that the business sells what customers need or want by:

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Different types of markets

Identify three factors that affect the demand for goods and services.

A market is simply a situation where the producer (of a business) provides a good or service to those who want it and are usually prepared to pay for it.

Today, modern technology such as the Internet means that even the smallest businesses can access customers around the world. There are many different types of markets:

basic commodities – e.g. oil, goldconsumer goods – e.g. clothes, PCsindustrial goods – e.g. machinery, lorriesservices – e.g. banking, hairdressing

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Global marketing

An increasing number of firms now aim to sell on an international, rather than a national or local, level.

Think of three reasons why a crisps manufacturer might have problems selling its

products in another country.

They need to use market research and adapt their marketing to take into account different tastes, languages and cultures.

Improved transportation means that goods can be distributed around the world quickly and cheaply. Firms can easily communicate with foreign customers via the Internet – e.g. responding to enquiries and receiving orders.

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Market research

Market research is used by businesses to identify what customers need and want. This is done by examining the opinions and buying behaviour of different market segments.

Primary research involves collecting and analysing original information found specifically for a purpose. The opinions of customers are gained directly, e.g. by surveys in person, by post, on the phone and through observation.

Secondary research involves analysing information from existing material, e.g. websites, databases, newspapers, magazines, Internet sales and loyalty cards. Do you think that primary or secondary

research is more useful? Why?

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Primary and secondary research

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Quantitative and qualitative research