Resumen

Summary IB Business Management HL - Topic 4. Marketing

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Institución
Bachillerato

Book
IB Business Management Course Book

The following document contains summarised notes taken on Topic 4. Marketing. This includes: 4.1 The role of marketing, 4.2 Marketing planning (including introduction to the four P's), 4.3 Sales forecasting (HL), 4.4 market research, The four Ps (product, price, promotion, place), 4.6 The extended ...

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¿Qué capítulos están resumidos? Topic 4. marketing
Subido en 24 de octubre de 2021
Archivo actualizado en 24 de octubre de 2021
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Escrito en 2021/2022
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Institución Escuela secundaria
Estudio Bachillerato
Grado IB Business Management - Topic 4. Marketing
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,4. Marketing
4.1 The role of marketing
Goods :
tangible
The 4 P's

price product promotion place

service :

intangible
The 3 additional P 's

people process physical evidence

Market orientation : R&D -

meet consumer demand

↳
reducing risk of failure ↳ costly
↳
respond quickly to changes ↳ consumer tastes change
Product orientation product first
:

making the

↳ high quality ↳ failure or closure
↳ succeed when slow
changes ↳ not
yield promising results
↳ full control

Commercial
Marketing :
creating developing
.
and
exchanging
products customers need and want .

↳ billboards .TV ads
,
online
marketing
Social
marketing help bring changes
: in behaviour that
benefit
society ↳ public health
.

campaigns ,
anti-smoking campaigns

{
difficult
↳
competitive advantage ↳ to
change behaviour
↳
charge higher prices

Social media
marketing
business
technological techniques
:

different
with the aim

of growing a
through a media

↳
get direct feedback ↳ difficult to stand out
↳ low cost ↳
rely on marketing techniques
↳ enhance the brand

,Market in which an
organisation operates :

Market Where people
:

willing and able to purchase a
good ,
service or resource
carry
with those who provide that
out an
exchange are
willing and able to same
It always physical local, national
good service resource is no international
-
or
.
; ,
,
.

↳ Market size
:
total sales .

volume
↳
By :
numbers bought 1 quantitative units)

↳ By value :
spent on the total numbers sold 1€ , $1

↳ Market growth percentage change :
in the market size over

a
given period of time .

↳ Market share percentage of : one firm 's share
of the total
sales in the market .

film 's sales
Market share % =
✗ 100
total sales in the market

↳ increased sales ↳
change in time influence
can

↳ economies of scale ↳
type of products can influence
↳ brand leader ↳ different results obtained

↳ Market leader :
a firm with the highest market share in a
given market

Marketing objectives of for-profit organisations and non
profit
-

organisations
'

:

profit organisations develop market state
↳ For -
:

identify design ,
and rgies
that will be I profitable .
focus on needs and
wants

↳ Non-profit organisations :
social
marketing reasons to
( enhance image influence
encourage donations .
and reputation to behavioural change )

{
↳ attract potential customers ↳ limited
financing
↳ internet marketing
How innovation , ethical considerations and cultural differences influence
marketing
Innovation technology industry
-

↳
-

↳ Ethical considerations -

-

corporate image

↳ Cultural differences :
consumer
lifestyle

, 4.2
Marketing planning ( including the introduction to the four P's)

Marketing plan : document with marketing strategies to achieve the
marketing objectives
The elements of marketing plan :

↳ market objectives Spdiuic Measurable Achievable Relevant Time specific
:
-

, .
, ,

achieve
↳
key strategic plan : to
marketing objectives
information
↳ detailed
marketing actions :

↳ market
budget to fund marketing strategy
:

↳
identify problems ↳ outdated
↳ SMART ↳ consume
↳
improves coordination ↳
marketing priorities
↳ set a
budget
↳
improve motivation
" "

The four Ps of the marketing mix

↳
product good :
or service in the market

amount
charged for
product
↳
price , a

↳
promotion :
informed and persuaded

↳
place : location and distribution channels

Appropriate marketing mix :
produce the
right product at the right
price available at
,
the right place and communicated
through the
right
promotion channel

To achieve marketing objectives :

↳ well coordination

↳ focus and clearance

↳
degree of competition
audience
↳
target

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Summary IB Business Management HL - Topic 4. Marketing

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