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Topic 3

Marketing

The focus of this topic is to develop an understanding of the nature and role of marketing in a business and the main elements involved in the development and implementation of successful marketing strategies.

Outcomes:

The student:

H1.2    critically analyses the role of business in Australia

H2.1    describes and analyses business functions and operations and their impact on business success

H3.2    evaluates the effectiveness of management in the organisation and operations of business and its responsiveness to change

H4.1    critically analyses the social and ethical responsibilities of management

H5.1    selects, organises and evaluates information and sources for usefulness and reliability

H5.2    plans and conducts an investigation into business to present the findings in an appropriate business format

H5.3    communicates business information, ideas and issues, using relevant business terminology and concepts in appropriate forms.

Chapters:

9: Nature and role of markets and marketing

10: Elements of a marketing plan

11: Market research and customer and buyer behaviour

12: Developing marketing strategies

13: Ethical and legal aspects of marketing

Terminology:

Chapter 9: Nature and role of markets and marketing

 

  1. Marketing
  2. Market
  3. Resource market
  4. Industrial market
  5. Intermediate market
  6. Consumer markets
  7. Mass markets
  8. Niche market
  9. Discretionary income
  10. Marketing concept
  11. Customer orientation
  12. Relationship marketing
  13. Strategic marketing planning
  14. Situational analysis
  15. Marketing objectives
  16. Marketing strategies
  17. Marketing mix
  18. Marketing management

 Chapter 10: Elements of a marketing plan  

  1. Market share
  2. Product mix
  3. Product mix width
  4. Product mix depth
  5. Geographical representation
  6. Customer service
  7. Target market
  8. Market segmentation
  9. Marketing strategy
  10. Implementation
  11. Monitoring
  12. Controlling
  13. Performance standard
  14. Business sales forecast
  15. Sales analysis
  16. Marketing cost analysis
  17. Product deletion

 Chapter 11: Market Research and customer and buyer behaviour  

  1. Market research
  2. Marketing data
  3. Primary data
  4. Survey
  5. Universal product code
  6. Secondary data
  7. Internal data
  8. External data
  9. Statistical interpretation analysis
  10. Buyer behaviour
  11. Consumer buying behaviour
  12. Organisational buying behaviour
  13. Personal spending
  14. Household spending
  15. Firms market
  16. Institutional customers
  17. Tendering
  18. Buyer
  19. User
  20. Psychological factors
  21. Motive
  22. Attitude
  23. Personality
  24. Sociocultural influences
  25. Reference group
  26. Social class system

 Chapter 12: Developing marketing strategies

  1. Primary target market
  2. Secondary target market
  3. Mass marketing approach
  4. Concentrated market approach
  5. Product differentiation
  6. Product
  7. Product positioning
  8. Brand
  9. Brand name
  10. Brand symbol/logo
  11. Manufacturers’ brands
  12. Private brand
  13. Trademark
  14. Packaging
  15. Price
  16. Price skimming
  17. Price penetration
  18. Loss leader
  19. Price lining
  20. Prestige pricing
  21. Promotion
  22. Promotion mix
  23. Personal selling
  24. Advertising
  25. Advertising media
  26. Below-the-line promotions
  27. Publicity
  28. Public relations
  29. Channel
  30. Noise
  31. Opinion leader
  32. Word-of-mouth communication
  33. Marketing channels
  34. Market coverage
  35. Physical distribution
  36. Warehousing
  37. Inventory control
  38. Non-store retailing

 Chapter 13: Ethical and legal aspects of marketing

    100.  Ethics
101.  Laws
102.  Environmentalism
103.  Green marketing
104.  Materialism
105.  Sugging
106.  Bait advertising
107.  Price discrimination
108.  Implied conditions
109.  Merchantable quality
110.  Fitness of purpose
111.  Warranty
112.  resale price maintenance

 

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