National 5 Business Management 2.1 Marketing

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Sldies for National 5 Business Management

Sldies for National 5 Business Management

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  • 1. 2.1 Marketing N5 Business Management
  • 2. Definition of Marketing “Marketing is the management process of identifying, anticipating and satisfying customer needs profitably” - Philip Kotler
  • 3. The Marketplace The Marketplace brings together both buyers and sellers - A stall Corner shop Auction Mail order Supermarket Internet
  • 4. TASK  Question Bank  1-5
  • 5. Marketing  Marketing is not just about selling.  Marketing is knowing about and satisfying customer needs  Marketing can increase sales & maximise profits.  It can also improve the image of the firm.
  • 6. TASK  Question Bank  6-10
  • 7. What is market research? Market Research is studying or investigating a market, to find out what consumers want, or whether customers are satisfied with a product and the level of service provided.
  • 8. Class Survey – Show Me Boards Boys Hollyoaks or MOTD? Lady Gaga or Eminem? Coke or Pepsi? Top Gear or X-Factor? Favourite Colour? Boys Girls Girls
  • 9. My Predictions!  Girls will like Hollyoaks, Boys MOTD.  Eminem may be too old to be popular! Lady Gaga probably liked more by girls.  Would expect Coke & Pepsi to be even but Coke narrowly ahead. Doubt there will be a gender imbalance.  Would expect most boys to prefer Top Gear over XFactor.  A study by Hallock (2003) revealed that 57% of men and 35% of women view blue as their favourite colour. Yellow is second for men.
  • 10. Bases of Market Segmentation Age Gender Lifestyle Income http://www.bbc.co.uk/news/technology-24803378
  • 11. Market Segmentation  Who is Crispola aimed at?  What is target marketing?
  • 12. Market Research in Action  Video on Market Research from The Apprentice  http://www.youtube.com/watch?v=GY mhV9H4Ulo  How do you think they did?  What would you have chosen?
  • 13. Market Research Methods  Observation – watching consumer bevhaviour Groups – asking people in depth qualitative questions on a topic  Focus (aka Surveys) – asking people questions on a topic (one to one, by phone, by post, or online)  Questionnaires
  • 14. TASK  Question Bank  11-27
  • 15. Questionnaire Design Rules  Only one question at a time  Keep question simple & clear to understand  Questions should be free from bias (not „leading‟)  Keep questionnaire short
  • 16. ICT Task  We are going to buy in one type of smart phone to sell to pupils in the school      What key questions do we need to find out? MAKE/BRAND FUNCTIONS AGES GENDER  You will now work in groups of 3-4 and complete your Questionnaire Design sheet
  • 17. What we are looking for  Questions that will let us know about…   the respondent’s age & gender The type of smart phone they like Extra features they expect (ie camera, video, 3G or 4G) Colours they like Price they would pay Service provider? Data plans… text & minutes  You have 10-15 minutes to design the survey!     
  • 18. Marketing Mix Produc t Price Target Market Promotion Place
  • 19. Marketing Mix  Otherwise known as the 4 Ps: Product – what you are going to make or sell  Price – what you will charge customers  Place – where you will sell the product/service  Promotion – how you let customers know about the product/service 
  • 20. TASK  Question Bank  28-30
  • 21. USP  USP stands for Unique Selling Point  This means a feature that makes stand out from the crowd.   FedEx guaranteeing on time delivery Sky‟s technological expertise Apple‟s unique design is a USP  Can you think of any others? 
  • 22. New Product Development  Market Research is used to provide information for firms to develop new products. Develop a superior product  Create a USP  Prototypes & testing  Alterations  Patents & Copyrights  Product launch & commercialisation 
  • 23. New Product Development Idea Generation Development Prototype & Testing Modifications Launch to Market
  • 24. TASK  Question Bank  31-39  Go Further  Create a presentation called “Product Heaven and Product Hell” outlining 5 successful products & 5 product failures.
  • 25. Branding  Branding is when a product is well known and memorable.  It may make good use of logos, slogans, a unique design or a high quality product.
  • 26. Cardiff City  In 2012, after being taken over by a Malaysian business man, Cardiff – aka „The Bluebirds‟ controversially changed its home kit colours from blue to red in order to appeal to a wider market.  The club crest would also now include a Red Welsh Dragon.  Supporters were furious. http://www.bbc.co.uk/sport/0/foo 
  • 27. Branding Advantages Disadvantages Customer loyalty  Good image  Premium Pricing  Can add to family of products   High advertising costs  One mistake can tarnish brand  Loyalty can be fickle New Coke
  • 28. TASK  Question Bank  40-43
  • 29. The Product Life Cycle
  • 30. Product Life Cycle  Draw and label the diagram.  Describe what happens at each stage in terms of sales, profit, costs and time.
  • 31. Product Lifecycle  This outlines the common growth and decline of a product over time. It may be just a record of sales, but it is important to be able to act on this information.  Not all products follow this... Fads and classics are different.  But how do we keep a product from becoming obsolete?
  • 32. But how?
  • 33. Extension Strategies  Change Product  Change Price  Change Place  Change Promotion  Change Packaging
  • 34. TASK  Question Bank  44-50
  • 35. Price – Pricing Strategies Long Term Strategies  Premium Price  Competitive Price  Low Price Short Term Strategies  Psychological Pricing  Cost Plus Pricing  Penetration Pricing  Promotional Pricing  Demand-orientated Pricing  Destroyer Pricing
  • 36. TASK  Question Bank  51-57
  • 37. Place  Where to locate?  High street or shopping mall?  Bricks and mortar or online?  What are the impact on sales and costs?
  • 38. Place – Distribution Channels There is a new channel now. From Manufacturer – Etailer Consumer
  • 39. TASK  Question Bank  58-61
  • 40.  “There are 3 things that matter in property. Location, location, and location.”  - Attributed to Lord Harold Samuel, Real Estate Tycoon.
  • 41. Place – factors to consider Finances  Competitors  Exclusivity  Government grants  Infrastructure  Availability of resources & labour  Manufacturing process  Distribution 
  • 42. GROUP TASK The Government are going to build a new generation of High Speed Rail called HS2.
  • 43.  Proposed lines completed by 2033.  Cost of £32bn
  • 44.  Beijing to Guanghzou completed December 2012  A distance of 2,298 km
  • 45. N5 Bus Man – 2.1: Marketing © BEST Ltd 48
  • 46. GROUP TASK  In teams prepare a report on: The advantages & disadvantages of HS2.  Where should it be located and why.  Why it costs so much and why it takes the UK far longer than China  N5 Bus Man – 2.1: Marketing © BEST Ltd 49
  • 47.  This Chinese resident refused to move house for a new motorway
  • 48. Place - Distribution  By road, rail, air or sea? Decided by: Cost  Infrastructure  Product/service type 
  • 49. TASK  Question Bank  82-85
  • 50. Promotion  This involves letting people know about your product/service  Word of mouth  Advertising  Sales Promotions  Public Relations (PR)  Social Media
  • 51. Advertising  Advertising tries to inform, influence and persuade customers into buying products and services.  Advertising can be in print, TV, radio, billboards and social media  Advertising is controlled by the ASA – Advertising Standards Authority
  • 52. TASK  Design a promotional flyer using Publisher or Word for a new environmentally friendly electric car.  You must sell the benefits to the customers.
  • 53. Sales promotions including: Sales Free samples Coupons Competitions Advertising on: TV Radio Newspapers Magazines Billboards Posters Websites Other methods including: Public relations Personal selling Direct mail (junk mail!) Trade fairs e.g. motor show Point of sales displays Window displays Packaging Branding Sponsorship Leaflets & brochures Flyers
  • 54. TASK  Question Bank  96-97
  • 55. Factors Affecting Marketing  Internal Factors Finance Labour Technology  External Factors Political Economic Social Technological Environmental Competitive
  • 56. TASK  Question Bank  98-103