Btec National Diploma Level 3 Unit 3 Introduction to Marketing

12741 Words May 20th, 2011 51 Pages
Jordan Tavaglione Unit 3

Task 1- P1 -describe the concept and principles of marketing

A) Dictionary definition for marketing:

“The management process responsible for identifying, anticipating and satisfying customer requirements profitably.”

When marketing a product or service the organisation needs to make sure it will satisfy the customer needs or wants. An organisation will not survive let alone succeed or make a profit if it does not meet the customer’s physical, intellectual, educational or social needs/wants. An organisation will use market research to identify what the customer and consumer wants. This definition means there is a management responsible for doing market research to identify the customer’s requirements
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Be aware of legal, social and ethical constraints on its marketing activities.
6. Plan and control all marketing activities so as to target the right message to the right consumer segment at the right time.
c)
Private organisations use marketing to help them achieve their goals and aims. They use different marketing strategies to attract people to what they are providing. Big companies like Asda and Nike can advertise regularly of television to get the maximum amount of people to view their offers, smaller companies find it hard to raise the funds for their advertisements to appear on television. Promotional deals can increase a business’s sales and turnover. If a product isn’t selling at its current price, it might be put on sale under a promotional offer (i.e. buy one get 1 free).This is a good way to clear the remaining stock and people whom might not normally buy the product may try it because of the promotional offer which the possibility of liking it and repeat purchasing. Another promotional deal they could use will involve working with a newspaper. They could offer money off vouchers in a newspaper which could influence more people to but the paper and to shop at their store. E.g. the Sun has advertised a free loaf of bread for every user and in recent times, people are trying to spend as little money as possible. Most private organisations have the main aim of earning profit and they wish to extend that profit as much as they can, business do this though

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