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AVCE Marketing UNIT 3

Download UK specification here

1. Principles of Marketing

The principles of marketing refer to:

• Understanding customer needs.
• Understanding competitors.
• Communicate effectively with customers to satisfy customer expectations.
• Co-ordinate its functions to achieve marketing aims.
• Be aware of constraints on marketing activities.

As a student you need be able to analyse how these factors will have an impact on your strategy. Why is it important to understand customer needs? Why should you try to predict what competitors are trying to do? Why is communicating your core values and benefits important? Why is working along with other functions like Research and Development important? Why should businesses be aware of legal constraints and how do these constraints have an impact on your marketing strategy?

2. Establising Customers Needs

Market and marketing research is important to discover the needs and wants of the customer. Click on the link to discover more.

3.Methods of analysing marketing opportunities

It is important to analyse opportunties and beware of constraints that may have an impact on the business.

Some factors to look at include PEST analysis, SWOT analysis, Ansoffs Matrix and the Boston Consultancy Group, please click on links for further detail.

4. Creating strategies that meet customer needs.

It is important that you develop a coherent marketing mix strategy for your company/product. You need to make sure that you clearly define the benefit your product/service has to offer the, segmentation methods you aim to use, the targeting strategy you will adopt and the positioning strategy that is appropiate. Your pricing strategy must reflect the benefit offered, the product benefits should also clearly be promoted, and appropiate place strategies should be adopted so consumers can purchase the product.

Please note that you should always work along side you assessement criteria when completing your unit 3 Marketing assignment.