Business Studies Topic 1- Marketing

role of marketing

strategic role of marketing goods and services
interdependence with other key business functions
production, selling, marketing approaches
types of markets - resource, industrial, intermediate, consumer, mass, niche

influences on marketing

factors influencing customer choice - psychological, sociocultural, economic, government
consumer laws
- deceptive and misleading advertising
- price discrimination
- implied conditions
- warranties
ethical - truth, accuracy and good taste in advertising,

marketing process

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 pl

marketing strategies

market segmentation, product/service differentiation and positioning
products - goods and/or services
- branding
- packaging
price including pricing methods - cost, market, competition-based
- pricing strategies - skimming, penetration, loss leaders, pric

people, processes and physical evidence

people, processes and physical evidence

global marketing

-global branding
- standardisation
- customisation
- global pricing
- competitive positioning