Complete Unit 2 Activity 1 Notes for BTEC Business Level 3 from a D*D*D student
Here are the notes I used to get the highest possible grades! This includes helpful exam advice too!
The Basics
What is marketing?
In simple terms, marketing is a way of making customers aware of the company’s products and
ultimately getting customers to purchase the products.
Basic Marketing Terms:
Target Market – A particular group of customers a product or service is aimed at
Promotion – The publicizing of a product to increase awareness or sales
Market Research – The action of gathering information about consumer needs and preferences
Campaign – An organized course of action to achieve a goal
Strategy – A plan of action designed to achieve a long-term aim
USP – Unique selling proposition / what makes you better
Social media – Websites that allow users to create and share content
Marketing Mix – A combination of factors that can be controlled by a company to influence consumers
Segmentation – Divide something into parts
Activity 1 of the Exam
Smart aims and objectives
Definition of the terms:
Specific – Clear about what needs to be achieved
Measurable – Progress and achievement can be measured
Achievable – Can be realistically achieved given the budget of the business
Relevant – relevant to the businesses' current position
, Time Related – A period for achievement is set
Common Business aims:
- Increase sales
- Build Brand Awareness
- Improve customer service
- Attract new customers
Example of Distinction Grade Smart Targets WITH justification
Objectives - HOW – BY HOW MUCH – BY WHEN Key
Performance
Indicator
Rebecca’s Dairy should increase artisanal ice cream sales in high- % increase in
end supermarkets (Ocado, Waitrose and M & S) between the artisanal
months of March and September (popular months for purchasing new product
ice cream) by 10%. range sales
This objective is appropriate to Rebecca’s dairy because high-end
supermarkets are likely to have customers with a higher budget,
who are more likely to pay a premium price for artisanal ice cream.
- https://www.thisismoney.co.uk/money/bills/article-
9450143/Cheapest-expensive-supermarkets-revealed.html
I have chosen this specific 6-month period because in the case
study, it says that in the questionnaire they are most likely to
purchase ice-cream between these months.
I have said 10% as it is a new product that they are releasing, so a
smaller increase of sales is to be expected if the marketing
campaign is successful. This objective should be achievable within
the £50,000 marketing budget as the advertising methods chosen
should allow for this amount of growth for the new product range.
Here are the notes I used to get the highest possible grades! This includes helpful exam advice too!
The Basics
What is marketing?
In simple terms, marketing is a way of making customers aware of the company’s products and
ultimately getting customers to purchase the products.
Basic Marketing Terms:
Target Market – A particular group of customers a product or service is aimed at
Promotion – The publicizing of a product to increase awareness or sales
Market Research – The action of gathering information about consumer needs and preferences
Campaign – An organized course of action to achieve a goal
Strategy – A plan of action designed to achieve a long-term aim
USP – Unique selling proposition / what makes you better
Social media – Websites that allow users to create and share content
Marketing Mix – A combination of factors that can be controlled by a company to influence consumers
Segmentation – Divide something into parts
Activity 1 of the Exam
Smart aims and objectives
Definition of the terms:
Specific – Clear about what needs to be achieved
Measurable – Progress and achievement can be measured
Achievable – Can be realistically achieved given the budget of the business
Relevant – relevant to the businesses' current position
, Time Related – A period for achievement is set
Common Business aims:
- Increase sales
- Build Brand Awareness
- Improve customer service
- Attract new customers
Example of Distinction Grade Smart Targets WITH justification
Objectives - HOW – BY HOW MUCH – BY WHEN Key
Performance
Indicator
Rebecca’s Dairy should increase artisanal ice cream sales in high- % increase in
end supermarkets (Ocado, Waitrose and M & S) between the artisanal
months of March and September (popular months for purchasing new product
ice cream) by 10%. range sales
This objective is appropriate to Rebecca’s dairy because high-end
supermarkets are likely to have customers with a higher budget,
who are more likely to pay a premium price for artisanal ice cream.
- https://www.thisismoney.co.uk/money/bills/article-
9450143/Cheapest-expensive-supermarkets-revealed.html
I have chosen this specific 6-month period because in the case
study, it says that in the questionnaire they are most likely to
purchase ice-cream between these months.
I have said 10% as it is a new product that they are releasing, so a
smaller increase of sales is to be expected if the marketing
campaign is successful. This objective should be achievable within
the £50,000 marketing budget as the advertising methods chosen
should allow for this amount of growth for the new product range.
