BUSINESS MANAGEMENT - UNIT 2 - MARKETING NOTES

Notes included

• Relationship between Marketing and business objectives (5A)

• Internal and external (macro and operating) environment factors affecting the establishment of a customer base and creation of a brand identity. (5B and 5C and 5D)

• Market research practices such as data collection techniques, analysis, and interpretation (5E)

• Target market attributes such as market dimensions, segments, consumer trends and behaviour (5F)

• The 7Ps model of marketing: product, price, place, promotion, people, physical evidence and process (5G and 5H)

• The product life cycle: introduction, growth, maturity, decline, extension, and the relationship between each of these stages and the choice of marketing strategy (5I)

• The features and value of customer relations strategies such as providing quality customer service and establishing customer loyalty programs (5J)

• Technological developments in marketing such as social media, email marketing, search engine optimisation, artificial intelligence, data analytics and management of data (5K)

• An overview of public relations and its relationship to business objectives (5L)

• Corporate social responsibility management considerations regarding establishment of a customer base, such as green marketing and the protection of customer privacy (5N)