Management of marketing
Customers
A business needs to identify its target market or market segment in order to tailor their product effectively to the consumer.
Market research
Businesses use market research to identify customers’ needs and wants. Each method of market research has advantages and disadvantages for a business.
Product
Product is the most important ‘P’ of the marketing mix. All products go through a life cycle of development, introduction, growth, maturity and decline. Branding is used to make a product stand out from its rivals.
Price
Price is an element of the marketing mix. It is the cost to the customer to obtain the product. It is crucial to a product’s success as it must be appropriate for targeted customers.
Place
Where a product is sold is crucial to the success of a business. Key decisions have to be made in order to achieve the best place for the business.
Promotion
Businesses use promotion methods to make customers aware of their products and services. Promotion methods are highly competitive and usually expensive.
Video playlist
Market research and branding mistakes. Video
Evan Davis tells the story of 'the biggest brand mistake ever made'.
Branding - building the value. Video
The importance of own label brands in the food industry.
Promotion. Video
How a beauty salon uses promotions to inform customers about their products.
Market research. Video
Hong McPherson undertakes market research for Makie's as they consider exporting to China
Creating a brand image. Video
Evan Davis tells the story of the rollercoaster rise and fall of Sunny Delight.
Crisis management in business. Video
Evan Davis tells the story of the way Apple dealt with a corporate crisis.
Breaking even. Video
How businesses need to adapt – an example of one business changing its focus.
Successful products - the story of the Mini. Video
Evan Davis tells the story of the Mini - a successful product but as a financial disaster.
