BGYBus and ManagementWeek 17Units 1,2,3

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BGY-Bus and Management-Week 17-Units 1,2,3

• Lara Flink

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Topics

• Unit 1-Marketing-Intro. And overview
• Unit 2-Marketing objectives and decision making
• Unit 3-Analysing the market

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Marketing

• Def Learning about customers and competitors, so
  that you can produce and promote goods - to
  achieve cos objectives.
• NB
• A. Market size
• B. Competitors market share
• C. Customers tastes
• D. Co. image
• E. Distribution methods and outlets

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Should be

• Clear objectives and therefore a clear strategy
  (plan)
• ? E.g.
• OBJECTIVE
• 1.Increase market share
• STRATEGY
• -Cut price of product/change packaging

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3 types of firms

• A. Market oriented
• - Many products
• - special offers
• -changes with market
• -e.g. Mc Donalds
• B. Asset Led
• -Few products
• -Produce to order
• -Build image in the long term
• -e.g. Porsche

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C.PRODUCT ORIENTED

• -Few products
• -Little promotion
• -Not monitor changes in market
• .e.g. Farmers

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Mkt Decisions

• 1. Affordable ?
• 2. Produce it?
• 3. Knock on effects?
• Gain Success
• -Jump before you are pushed
• -Exploit assets
• -Awareness of consumer psychology

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Unit 2-Mkt objectives

• SET?
• 1.Senior level
• 2. In mission statement
• Objectives e.g.
• A. Product differentiation
• B. Growth
• C. Continuity
• D. Innovation

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Problems -

• 1.FINANCIAL
• 2.NO EXPERTISE
• 3. COMPETITION
• 4.CONSUMER TASTES CHANGE
• 5. OUR MKT STANDING
• 6.UNSTABLE ECONOMY

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MARKETING MODEL

• CORPORATE OBJECTIVES (maximising
  profit)
• 
  
  
  
  1.Marketing objectives (e.g. sell new
  product mobile phone? )

5.Control And review
2.Gather data e.g. market research
implement
4.Test the options-which one is correct?
3.Form hypothesis (options) e.g. teenagers want
phones which play music, or which access the
internet
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UNIT 3Analyzing markets

• Mkt size
• Def Measurement of all the sales ,by ALL the
  cos in the market
• Mkt share
• Def of total market held by one company/
  product.
• Co. aims to be brand leader

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• Market Share of
• Fast Food Industry -2000
• McDonalds 74
• Burger King 18
• Remaining 8 by restaurants such as Subway,
  Wendys, Taco Bell, and Boston Market

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Analyses cont.

• Target mkt-products aimed at a specific group
• ( e.g. teenagers ).
• Mkt Mapping
• Key variables which differentiate brands within a
  mkt.
• Aim- to find mkt gap

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Market Mapping

• Budget prices

aero
Tesco chocolates
snickers
Sainsbury chocolate
kit Kat
Children
General
Marks and Spencer
Smarties
Thornton
Belgium chocolates
Gap?
Premium price (expensive)
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INDUSTRIAL VERSUS CONSUMER MKTS

• Industrial
• Co. sell to cos.
• - 100 customers
• -Contacts at Trade exhibitions
• E.g. MSI - computer parts to producers.
• CONSUMER
• Co. sells to individuals and cos.
• gt100 customers
• E.g. Microsoft