My exam Flashcards
(25 cards)
What do i need to include in my notes
Competitors Market size, share and structure Target market Trends External influences
Costs
Timescale
Media used - Needing a licence to be able to show the movie
- Need to pay the company that makes the movie to be able to use the movie as well as pay them a cut of
what you get from the pop-up movie.
Message communicated
Marketing mix
Appropriateness of campaign
C1 Marketing campaign activity
Selecting appropriate marketing aims/objectives to suit business goals
Situational analysis:
- S.W.O.T
- P.E.S.T.L.E
Use of research data to determine:
- Target market
Use of research data to conduct competitor analysis
Sales Volume
The Quantity of what they sell
Sales Value
The amount of money that they get from sales
Sales Growth
Yours and the Competitors %
Market share
Brand Loyalty / Awareness
What is the value of setting marketing objectives?
Marketing strategy
Potential problems with marketing objectives
Fast changing external environment
e. g changing legislation
e. g new competitors entering market
Potential conflict between marketing
e.g trying to increase market share by cutting prices may damage
Make sure to find out what your customers want and what they want to see from your business.
Increasing competitive markets, consumers have a greater choice over where they buy their goods and services
For an organisation to meet its business objectives it
Would you rather sell for premium quality or would you rather get people to pay lower prices?
Lower prices are better as it could attract more customers
What can make people poorer of which can affect there exposiable income?
Increased national insurance
Increased electric and gas bills
Increased food costs
If you are to make prices to cheap it can make people think that your business do not produce good quality.
P.E.S.T.L.E
Political Economic Sociological Technological Legal Environmental
Before talking about it in the
Product
Choice of movies Technology that you use Environment Food and Drinks Merch
Price
Value
Place
Want to place this business in a place that people know
In a common area
Cost of the venue
Running a reviewing session before the place opens and then get some people from the public to test it and compare what it is like to ODEON.
What is the annual revenue that the business gets
4.37
A.I.D.A model
AWARENESS
INTEREST AND DESIRE
ACTION
The AIDA model can be used to demonstrate the aim of any promotional activity:
Initiate awareness amongst customers
Generate interest for and desire to have the products
Leading to customers taking action to purchase
A.I.D.A model
AWARENESS
INTEREST AND DESIRE
ACTION
The AIDA model can be used to demonstrate the aim of any promotional activity:
Initiate awareness amongst customers
Generate interest for and desire to have the products
Leading to customers taking action to purchase
Product
Organisations need a balanced marketing mix to meet the needs of its customers.
Price
Marketing penetration - charging lower prices for new products to help market and gain market share quickly
Competitive pricing - pricing at a slightly lower price than competition
Strategic pricing - emphasising the quality or brand positioning of a product to allow a higher price to be charged.
