GCSE UNIT 1 & 2 REVISION MARKETING.

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Presentation transcript:

GCSE UNIT 1 & 2 REVISION MARKETING

Aims & Objectives Understand key marketing terms Explain how marketing can be used by a business to increase sales. To suggest and evaluate the use of specific marketing activities in given situations.

MARKET RESEARCH What is the difference between ‘Product Orientated’ and ‘Market Orientated’? What is ‘Market Research’? What is the difference between Primary Research and Secondary Research? Give 4 examples of market research. How can Market Research help a business to increase its sales and its profits?

PRODUCT What is a ‘Product Range’? How can a wide Product Range help a business? What is the difference between a product and a service? What is a ‘Product Mix’? How can a wide Product Mix help a business? What is a product USP? What is ‘Product Differentiation’ Why is ‘Packaging’ important to a product? Why is Quality important to a product? Why are guarantees important?

PRODUCT LIFE-CYCLE A Product Life Cycle diagram shows the different stages of the life of a product. Some products have a short life-cycle e.g. a song download. Some products have a very long life-cycle e.g. HP Sauce, Kellogg's Cornflakes TASK: Define each stage of the product life cycle. Use an actual product to explain each of the different stages of the Product Life Cycle. How could a firm extend the life of a product in the decline phase?

PRICE What is ‘Cost-Plus’ Pricing? What is ‘Competitor Pricing’? What is ‘Price Skimming’? What is ‘Penetration Pricing’? For each of the above, give an example of when it should be used.

PROMOTION Suggest 5 different promotion methods that would be suitable for a small firm with a limited budget. Give advantages & disadvantages of each. Suggest 5 strategies that could be used by a growing firm with a large marketing budget. Give advantages & disadvantages of each.

PLACE This is about the way that products/services reach the customer. Give advantages & disadvantages of Retail selling (in a shop) Give advantages & disadvantages of Mail Order. Give advantages & disadvantages of On-Line selling. Give advantages & disadvantages of operating in an international market.