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TOPIC 2: MARKETING

Role
Influences
Process
Strategies


​Marketing Process
(also known as a Marketing Plan)

• situational analysis – SWOT, product life cycle 
• market research 
• establishing market objectives 
• identifying target markets 
• developing marketing strategies 
• implementation, monitoring and controlling – developing a financial forecast; comparing actual and planned results, revising the marketing strategy

Situational analysis

Picture
  • SWOT: See the video above for a good, solid examination of a SWOT analysis.  The Queensland Government Business and Industry Portal also provides a good overview of a SWOT Analysis and FormSwift provides a Guide to SWOT Analysis. Tutor2u looks at SWOT Analysis and Marketing as does Kickstart Salesforce in How to Apply SWOT Analysis to Your Marketing Campaigns (pic to the left is from this website). Just for fun, watch the video below, 'Santa gets the SWOT Analysis treatment'.










Product Life Cycle

Picture
  • Product Life Cycle: QuickMBA provide a good overview of the Product Life Cycle (pic to the left is from this website).  Tutor2u also has good information on the Product Life Cycle.

TASK: Create posters for both a SWOT Analysis and a Product Life Cycle.

Market Research

  • Tutor2u provides a nice Introduction to Market Research.
  • The video below is popular for students studying Market Research.  It's a shame a lot of these videos aren't Australian.

TASK: Design market research for introducing a new ice-cream flavour.

Establishing market objectives

Again, Tutor2u has a good webpage addressing marketing objectives.  

Identifying target markets

Developing marketing strategies

Go to the next topic Marketing Strategies.

Implementation, monitoring and controlling

Implementation = making it happen (eg obtaining the funds from finance and the people from HR)
Monitoring = checking that it happens (as intended)
Controlling = changing to make it happen better

For aa good outline see CEOpedia's Implementation and control of marketing plan


PIZZA
Think about a pizza company wanting to engage with young people on social media and encourage online orders.  Each week they plan to offer a different item free for people who order online and this offer is only promoted through Facebook and Twitter. 
Implementation requires finding someone capable of setting up a Facebook page and a Twitter Account and then use both for the promotions.
Monitoring could be in the form of comparing sales before and during the campaign, counting the number of orders online and how many use the associated promotion code.  They could also compare the products promoted each week to see which proves the most seductive and cost effective.
Controlling could involve removing the free products that don't generate sufficient sales or changing the frequency of the deals or allow the deal for phone orders too.
Strategies
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  • Home
  • About
    • About
    • Education Blog
    • Writing Blog
  • Case Studies
  • Courses
  • HSIE Resources
    • HSC Business Studies >
      • Operations >
        • Role of operations management
        • Influences
        • Processes (overview) >
          • Inputs
          • Transformation processes
          • Outputs
        • Strategies
      • Marketing >
        • Role of marketing
        • Influences
        • Process
        • Strategies
      • Finance >
        • Role of Financial Management
        • Influences
        • Processes
        • Strategies
      • Human Resources >
        • Role of human resource management
        • Influences
        • Processes
        • Strategies
        • Effectiveness
    • Preliminary Business Studies >
      • Nature of Business >
        • Role of business
        • Types of businesses
        • Influences
        • Business growth and decline
      • Business Management >
        • Nature of management
        • Management approaches
        • Management process
        • Management and change
      • Business Planning >
        • SMEs
        • Influences
        • Business Planning Process
        • Critical Issues
    • Economics >
      • Introduction to Economics >
        • The nature of economics
        • The operation of an economy
      • Consumers and Businesses >
        • Businesses
      • Markets >
        • Demand
        • Supply
        • Market equilibrium
        • Market structures
      • Labour Market >
        • Demand and supply of labour
        • Labour market trends
      • Economic Issues >
        • Economic growth
        • Unemployment
        • Inflation
        • External Stability
        • Distribution of Income and Wealth
        • Environmental Sustainability
    • Society and Culture >
      • Course Framework
      • Research Methods
      • P1: Social and Cultural World
      • P2 Personal and Social Identity
      • P3: Intercultural Communication
      • PIP
      • H1: Social and Cultural Continuity and Change
      • H2: Popular Culture - Social Media
      • H3: Equality and Difference
    • Geography (old syllabus) >
      • Coastal Management
      • Urban Growth and Decline
      • Human Rights
  • Contact