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OCR Level 3 Cambridge Technicals in Business Unit 3: Introduction to Marketing Good marketing is at the heart of every successful business…. Without effective marketing a business will die. Marketing techniques Businesses can use different marketing techniques: Branding Developing a brand profile Growth Market penetration, product development, market development, diversification Relationship marketing What type of relationship the company wishes to hold with its customers. The techniques devised to deliver this plan. Market Research There are two main types of market research: Primary Secondary First hand, eg face to face research Carried out indirectly, eg over the internet Segmentation and Targeting Where does the product sit, in which segment? Target the market to meet customer needs Successful product The Marketing The Marketing Mix Mix Product Promotion Direct mail with samples and coupons, sponsorship Cafes in many locations, which are Place easy and convenient for consumers to access Relaxing venues, Premium products Competitive prices, lower than key competitors like premium coffee shops Place Price A new strategy for McDonalds But this strategy is an example of how companies can survive long term by adaptingmade their marketing strategy As you can see, McDonalds to meet the needs of the current some radical changes to their marketplace. traditional marketing mix, which was a risk, as it could have alienated their traditional customer base. What will you learn? After completing this unit you will: Understand how and why customer groups are targeted Be able to develop a coherent marketing mix for a new product or service Be able to use marketing research and marketing planning Know the role of marketing in organisations Thank you for using this OCR resource. Other OCR resources are available at www.ocr.org.uk To give us feedback on, or ideas about, the OCR resources you have used e-mail [email protected]