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Download Unit 10: Marketing Decisions
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Advanced GCE Applied Business Unit 10: Marketing Decisions An introduction for students 1 Overview This unit is worth 1/3 of your overall A2 Applied Business grade. It will be assessed by an externally assessed examination. The examination will be sat in January 2010 (re sits can be taken in June 2010) Content Overview o Effective marketing campaigns do not just happen. They result from having a clear vision of the desired outcome, careful planning and thorough application of that plan. o This unit will provide students with the basis for effective decision making and planning in the marketing process. o Students will learn about the type of decisions that have to be made to bring a product to market. Students will identify these decisions and how they contribute to the overall marketing plan. What students will learn 10.1 Influences on marketing decisions Students need to understand the wide range of influences on an organisation, both internal and external, and the types of decisions that have to be made relating to these influences in order to keep the organisation moving forward in line with management plans. To achieve this, organisations have different marketing objectives, strategic or tactical, depending on how the objectives support the business plans. Analysis of the organisation’s current and future situation can be made using planning tools such as SWOT and PESTLE analyses to inform marketing decisions in terms of: • whether a product should be developed or launched • whether these decisions are strategic or tactical • competitive advantage • whether the timing is right • whether the correct market has been identified. 2 Students need to learn the impact these may have on the marketing mix. To do this, students need to investigate influences that impact on the planning process, such as: • marketing environment, both macro and micro • competition • social, cultural, environmental, economic issues. 10.2 Marketing decisions and the planning process Students need to understand how to produce plans for the development of the marketing mix using tools such as: • product life cycle • Ansoff • portfolio analysis tools, eg the Boston Consulting Group (BCG) Matrix. Students also need to know how a business uses these tools to decide on a marketing strategy for: • product development, eg supplementary products, add ons • pricing strategy, eg market penetration, skimming the market, price leadership, market-based competitive pricing • promotional strategy, eg deciding what to say, deciding how to say it, unique selling points (USPs), above-the-line, below-the-line, use of new media, public relations, budget, timescales, media mix • distribution channels, eg direct to end user, via a retailer, via a wholesaler • target market, eg consumers, trade customers (b2b), retailers, wholesalers, large organisations, small organisations, new customers, existing customers. 10.3 Research to inform marketing decisions The type of research carried out will depend on: • the element of the marketing mix being addressed • the type of market. Students need to understand the process of marketing research and how it informs the decision-making process. This will include: • size, shape and dynamics of market • sampling, eg deciding on sampling frame, random sampling, quota sampling, stratified sampling, cluster sampling 3 • information-gathering systems, eg primary and secondary sources, desk and field research • results analysis. 10.4 Investigating marketing campaigns Students need to research real campaigns and draw conclusions about the effectiveness of the underlying marketing decisions. This will include how effective the campaign was, based on the following criteria: • measuring and monitoring • identifying the target market • analysing the marketing processes • constraints identifying the target market • analysing marketing processes and constraints. Assessment evidence This unit will be assessed through an external assessment. This test will consist of short-answer and extended-answer questions based on a case study or a real business. The mark students achieve for this assessment will be their mark for the unit The external assessment will require evidence of: being able to demonstrate knowledge, skills and understanding of the subject content of this unit and relevant business skills being able to apply your knowledge, skills and understanding of the subject content of this unit and relevant business skills being able to use appropriate methods to carry out research and analysis relevant to the subject content of this unit some ability to evaluate and reach reasoned judgements on the suitability of planned campaigns or the results of campaigns carried out, based on the subject content of this unit. 4 Assessment objectives Each unit is assessed using the below criteria; AO1 Knowledge, skills and understanding — learners demonstrate knowledge and understanding of the specified content and relevant business skills. AO2 Application of knowledge, skills and understanding — learners apply knowledge and understanding of the specified content and relevant business skills. AO3 Research and analysis — learners use appropriate methods in order to obtain and select information from a range of sources to analyse business problems. AO4 Evaluation — learners evaluate evidence to reach reasoned judgements. Grade Boundaries Unit 10 is marked out of 90. The exam board then coverts this into a mark out of 100. The boundaries for the mark out of 100 (which applies Unit 10) are as follows; Mark (out of 100) 80+ 70+ 60+ 50+ 40+ < 40 Grade A B C D E U 5