1. Mr. Poole Business Studies
Marketing
Mr. Poole Business Studies

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Topics to Cover
Market
Target market
Marketing mix
Market research & Product development
Advertising
Selling techniques
Public relations
Export markets & Import substitution
Mr. Poole Business Studies

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Market
Market is a place or contact between a seller and buyer, where goods and services are bought and sold.
Mr. Poole Business Studies

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There are many types of markets just as there is many types of goods and services.
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Nowadays a buyer and seller do not have to meet in order for goods and services to be bought and sold.
E.g. Internet
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Target Markets
Not all products and services suit everyone, thus markets have to be divided. This is called market segmentation
The particular type of market you aim the product or service at is known as the target market.
Mr. Poole Business Studies

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Important to identify target market to guarantee success. Must consider
Age
Location
Season
Gender
Lifestyle
Mr. Poole Business Studies

8. Question Match the product to their main target market
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Question continued-
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Marketing Mix
Marketing is the process of identifying and anticipating consumer needs
Products and services that can be produced to satisfy these needs at a profit
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Marketing is consumer orientated. This means marketing is all about finding out what products consumers want, developing the product and then getting it to the market.
Mr. Poole Business Studies

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4 P’s
Product- deals with type, design, size colour of product or service.
Price- which deals with cost of production and selling price of product. €0.80c
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Promotion- deals with advertising, sales promotion and selling techniques. “Have a break have a Kit Kat”
Place- deals with channels of distribution for a product and the final place of selling.
Mr. Poole Business Studies

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5th P?
Sometimes it is suggested that there is a 5th P?
Packaging does not just refer to the way a product is wrapped but also refers to the image that a company will try to create for its product
Mr. Poole Business Studies

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Questions
Q1 Consider a product that uses its packaging to portray a certain image? Name and Explain!
Mr. Poole Business Studies

16. Questions continued……
Match the appropriate P of marketing with the appropriate explanation?
Product (a) Cost of Production
Promotion (b) Design
Place (c) Advertising
Price (d) Distribution
Mr. Poole Business Studies

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Market Research
Gathering and analysis of information about the market.
Reasons for carrying out market research
Consumer needs
Market size
Price, image packaging
Advertising and Promotion
Competitors
Mr. Poole Business Studies

18. Types of Market Research
Desk (Secondary Research)- assessing information already available. Cheap and quick eg Internet, CSO
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Field (Primary Research)- going to market place obtaining peoples views. More expensive, time consuming yet more accurate eg Questionnaire, Observation
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Sampling
Some sort of selection should be a representative of market.
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Test Marketing
A new product is tested on a small number of people to find their reactions
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Question- Which two of the following are different types of field research?
Collecting information on the internet
Observing consumer behaviour in a market place
Conducting interviews by phone
Researching magazines and newspapers.
Mr. Poole Business Studies

23. Designing a questionnaire
Must be carefully designed
Clear and simple
No leading questions
Should not suggest certain answers.
Mr. Poole Business Studies

24. Example of a questionnaire
Q1 Do you eat ice-cream Yes □No□
Q2 What price do you usually pay for an ice-cream?
20c□ 50c□ 80c□ €1□
Q3 What type of ice-cream do you eat?
Ice-lolly □ Chocolate □Vanilla□ Strawberry□
If others please elaborate?
Q4 When do you eat ice-cream?
daily□ weekly □ fortnightly □ monthly □ □
Mr. Poole Business Studies

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Task
Design a questionnaire (using the word processing programme) to research the market for a new chocolate bar called Chocolate Heaven? Consider the 4 P’s!
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Product Development
Existing product redesigned if necessary. Information collected on market research process.
Helps ensure product or service is better than that of competitors and also that consumer needs can be met leading to greater sales and increased profit.
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Advertising
Giving of information about a product or service. Successful advertisements catch customers attention
Attention
Interest
Desire
Action
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Question Time
Q1 Using the internet and the website search the advertisements on meteor, coca cola and Galaxy chocolate? Can you identify the target market for each advertisement?
Q2 Design a suitable advertisement on the computer keeping in mind the key elements of a successful advertisement?
Mr. Poole Business Studies

29. Different types of advertising
Informative- gives consumers information about a product or service eg price
Persuasive- Trying to persuade customer to buy goods eg Special K
Competitive- criticising other products or service eg ASDA/Tesco
Generic- promote an industry as a whole eg need energy, drink loads of soft drinks.
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Advertising Media
Newspapers and magazines
TV and Radio
Shopping bags
Internet
Billboards
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Selling Techniques
Businesses use several methods to increase sales
Often incentives or bonuses offered directly to consumers called sales promotion or special offers
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Branding:a brand is a name/sign/symbol/design used by a firm to identify its products and distinguish them from other similar products eg’s
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Some businesses will offer certain goods at a reduced rate with often little or no profit margin. This is known as loss leader
Loss leader is intended to attract customers to a store where they will buy more than the deducted item.
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LOGO’S
Particular logo known as BRANDING
Branding helps differentiate a product from that of a competitor
Very successful method of encouraging customer loyalty.
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Question
Using the internet locate five famous logos and explain the company or product that they symbolise?
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Question TRUE or FALSE?
Q1 Businesses use selling techniques to increase sales?
Q2 Giving a free gift with a product is an example of branding?
Q3 Businesses add logo’s to products so that they will be more identifiable to consumers?
Q4 A loss leader is a product which is sold at a higher price to encourage consumers to buy it?
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Public Relations
Important for a business to have a positive image
Most businesses have a PRO (Public Relations Officer) who looks after this area.
A PRO makes contact with the public through press releases and press conference
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A PRO maybe involved in sponsorship deals, where a firm pay money to have it’s name associated with something
Name 4 companies and the sporting events/teams that they sponsor?
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39. Export Markets and Import Substitution
Irish Market quite small makes it difficult for some businesses to survive
Reason businesses try sell products to other countries called exporting
Majority of Irish Exports are sold to the U.K.
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Imports are goods brought into Ireland from other countries
Import Substitution- businesses may try to develop goods in Ireland to replace foreign goods on the Irish Market.
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Import
Export
Mr. Poole Business Studies