unit two business management. learning intentions: we will be able to : outline the marketing...
TRANSCRIPT
Area of Study Two – Managing the Marketing
Function
Unit Two Business Management
Learning Intentions:We will be able to : Outline the marketing function and its relationship
to business objectives and business strategy Describe market research processes
Success Criteria Use key marketing terminology Present an analysis of market research processes
Introduction
Tony’s Terrific Tables
Tony has decided that he is going to open a
business selling hand-made coffee tables.
In what ways can Tony ‘market’ his tables?
What is Marketing? – An Introduction
Marketing
More Than Just Advertising
Marketing is a total system of interacting activities
designed to plan, price, promote and distribute
products to present and potential customers.
What is Marketing? – An Introduction
Marketing is ‘the process of planning and
executing the conception, pricing, promotion and
distribution
of ideas, goods and services to create exchanges
that satisfy individual and organisational
objectives’ (American Marketing Association).
What is Marketing? – An Introduction
A function is an area of management
responsibility.
Objectives refers to goals the business wishes to achieve.
Strategies are the activities that the business undertakes to meet their objectives
The Marketing Function – Relationship to Objectives and Strategy
A business may wish to “increase sales by
10% over 2 years” (objective)
The ‘marketing function’ of a business refers to the activities (strategies) aimed at achieving particular objectives in relation to a good or service (increase sales)
Marketing is NOT just about advertising.
The Marketing Function – Relationship to Objectives and
Strategy
The Marketing Function – Relationship to Objectives and
Strategy
The Marketing Function – Relationship to Objectives and
Strategy
Objective
Increase Profit
Strategy
Increase Sales
Marketing Plan
Finance Plan
Production Plan