STARTER TASK – You have 10 minutes to: 1 – Evaluate the product on your sheet. 2 – Write and underline the date and title – “The Marketing Mix” TEACHERS DESK Door Board Balween Asil Mulki Yassir Nice Samuel Rabbab Imran Aditya Nasir Yugesh Jahangir Brijesh Shuyeb Ria Lidia Jack Mason Anthony Edmond Trish Simran Joe Charlotte Maruf Shamar Rahat Harry Friday, 09 November 2018

Starter You have 10 minutes to evaluate the product on your sheet.

Lesson 1.27 Edexcel GCSE Business Studies The Marketing Mix Lesson 1.27 Edexcel GCSE Business Studies

Customer focus and marketing mix / WALTS AO1 Understand that a business must anticipate, identify and meet customer needs if it is to be successful. (AO1) Understand that a business will consider its price, product, promotion and place as important elements in meeting customer needs. (AO1) Understand that different businesses will place different emphasis on the elements of the mix and that the mix can be amended to meet changing consumer needs. (AO1) AO2 Apply your skills by undertaking exam style questions. (AO2) AO3 Analyse and evaluate a real-life business scenario, make reasoned judgements and present appropriate conclusions. (AO3) Grade AO1 Recall, select and communicate knowledge... AO2 Apply skills, knowledge and understanding AO3 Analyse/evaluate evidence, make/present reasoned judgements A-B detailed/thorough effectively/accurately C-D satisfactorily/most satisfactorily/some E-F some/limited simple/some

Customer focus and marketing mix What is customer focus? A business that has a “customer focus” is one which takes the time and trouble to anticipate identify and meet customer needs. AO1 Understand that a business must anticipate, identify and meet customer needs if it is to be successful. (AO1) Recall, select and communicate knowledge. Grade A-B detailed/thorough | C-D satisfactorily/most | E-F some/limited

Customer focus and marketing mix Some ways that customer needs differ Benefits they want (quality, style) Amount they are able to or willing to pay (budget, expensive) Quantities they buy (bulk buy or one-off purchase) Time and place that they buy (instant, online) Information they need (impulse buy, considered purchase) AO1 Understand that a business must anticipate, identify and meet customer needs if it is to be successful. (AO1) Recall, select and communicate knowledge. Grade A-B detailed/thorough | C-D satisfactorily/most | E-F some/limited

Marketing

Marketing mix

4 Ps There are 4 Ps that describe how we market an item and how we try to get more people to buy it. Watch this video and write down what the 4 Ps are.

Marketing mix

Customer focus and marketing mix Add to your video notes - Four Ps Product Price Place Promotion The product or service that the customer buys How much the customer pays for the product How the product is distributed to the customer How the customer is found & persuaded to buy AO1 Understand that a business will consider its price, product, promotion and place as important elements in meeting customer needs. (AO1) Understand that different businesses will place different emphasis on the elements of the mix and that the mix can be amended to meet changing consumer needs. (AO1) Recall, select and communicate knowledge. Grade A-B detailed/thorough | C-D satisfactorily/most | E-F some/limited

Customer focus and marketing mix AO1 Understand that a business must anticipate, identify and meet customer needs if it is to be successful. (AO1) Recall, select and communicate knowledge. Grade A-B detailed/thorough | C-D satisfactorily/most | E-F some/limited

Customer focus and marketing mix The four Ps Because each element of the marketing mix is related to the others, elements of the mix should work together to achieve the desired effect AO1 Understand that a business will consider its price, product, promotion and place as important elements in meeting customer needs. (AO1) Understand that different businesses will place different emphasis on the elements of the mix and that the mix can be amended to meet changing consumer needs. (AO1) Recall, select and communicate knowledge. Grade A-B detailed/thorough | C-D satisfactorily/most | E-F some/limited

Businesses emphasise different parts of the marketing mix Price Discount supermarkets Low-cost airline Promotion Soap powders Furniture retailers Product Luxury motor vehicles Tailor-made holidays Place Convenience stores Coffee shops AO1 Understand that a business will consider its price, product, promotion and place as important elements in meeting customer needs. (AO1) Understand that different businesses will place different emphasis on the elements of the mix and that the mix can be amended to meet changing consumer needs. (AO1) Recall, select and communicate knowledge. Grade A-B detailed/thorough | C-D satisfactorily/most | E-F some/limited

Groups! In Groups of 4 – Think of a 1 product for each person on your table, draw it in the middle and as a group, discuss the 4 ‘P’s’ for that product and add the importance of each ‘P’ on your mini poster. Identify the competition and make a comment on which of their 4 Ps they can improve. E.g. They could get more customers if their Price was lower than __________, they could get more customers if they Promoted their product by _______, they could get more customers if their product was improved by ____ or it if was sold in ____ place You have 5 minutes for each product.

Customer focus and marketing mix Plenary 1

Customer focus and marketing mix Plenary 2 In your exercise book, summarise in 3 sentences at least three things you have learned in this lesson...

The importance of limited liability Customer focus and marketing mix Next lesson... The importance of limited liability Including a look at limited companies (ltd) and sole traders.