unit 5: the marketing plan ocr level 2 cambridge technicals in business
TRANSCRIPT
Unit 5:The Marketing Plan
OCR Level 2Cambridge Technicals
in Business
IntroductionIntroductionMarketing is an important part of any business,
irrespective of whether the business is big or small.
All businesses need to ensure that they are…
Providing products that
consumers want
Making consumers aware of products
through promotion
Making their products and
services available in places that are
convenient for the consumer
Charging prices consumers are willing to pay
Getting the marketing mix right is just as important for large well-known businesses such as Tesco…
…or small local businesses such as hairdressers…
Using the 4 PsUsing the 4 Ps
Large range of products
2715 stores
Regular TV and magazine
adverts
Choice of prices, eg own brand
products
Within walking distance
Competitive prices
Adverts in local press
Offer a range of styles
But this all has to be done within a budget, so it is important to make sure that marketing is carefully planned.
A typical marketing
plan will outline:
The marketing objectives the
business is trying to achieve
A description of what is
happening in the market
A summary of the business’
current situationAn identification of who the business is trying to reach
An indication of how the business intends to reach
them
The amount of money available to spend
on marketing activities
How the business will know if it has
beensuccessful
The Marketing PlanThe Marketing Plan
Finding out what Finding out what consumers wantconsumers want
Secondary Research: Information that
someone else has obtained, eg past sales figures or the internet
Successful marketing relies upon meeting consumers’ needs.
This means a business needs to know what consumers want, which can be discovered using market research.
Market research can be done in
two ways: Primary Research:Information obtained first-hand, eg using questionnaires or
focus groups
Choose appropriate
media for the promotion
It can be very expensive, although it
doesn’t have to be.
So when planning a promotion it is important for a
business to:
The Promotional PlanThe Promotional Plan
Promoting a product is much more than advertising, and has
to be carefully planned.
Cost the promotion
activity
Identify what it wants to achieve
by undertaking the promotion
Decide who the audience
will be
Decide what the message
will be
Carry out and evaluate the promotion
After you complete this unit you will:
What will you learn?What will you learn?
Understand marketing
concepts used by businesses
Be able to plan marketing and
promotion
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