BTEC Business Level 3 - Unit 2 Question and well answered 2023

BTEC Business Level 3 - Unit 2 Question and well answered 2023What are the roles of marketing? 1. to make customers aware of the products or services provided 2. to build brand awareness and trust to increase market share 3. to make customers pay more for the same product Examples of marketing? Social media, TV adverts, leaflets What are the principles and purposes of marketing? to generate customer satisfaction by: - identifying needs - promoting products or contributing to brand development - pricing of the brand - promoting the brand by various means - distributing the brand in the right locations What is anticipating demand? to estimate and anticipate demand, its important to look at: - the impact of past marketing campaigns - results of market research - demand for previous products - demand for competitors products - impact of competitors marketing campaigns