BTEC Business Level 3 - Unit 3 Assignment 1 P1
Unit 3 – Introduction to Marketing
P1 – Task 1
What is marketing?
Marketing is the function that connects businesses to their target audiences’ needs. It is how a business presents and distributes their product to their audience. For example, a business can market their product by advertising it to the public. This can be seen in many forms of media; such as: on television, via web, posters or on billboards.
Marketing is the management procedure in which the product or service is moves from concept to the customer. It includes the co-ordination of the 4 P’s of marketing: product, price, placement and promotion. [tutor2u.net]
The concepts of marketing
Production
The production concept is when businesses are more focused on making profit from their sales; the quality isn’t necessarily important as the company’s main concern is making sales. For instance, supermarkets such as Sainsbury’s and Tesco distribute their own products to the public. The production of products is also kept at a low cost.
Product
The product concept is when businesses focuses more on the quality of the product rather than how many of them are being sold. The business is more concerned with the high standards of the product set by customers and is prioritised. For example, smartphones have become more popular within society because of their many features.
Selling
The selling concept is when businesses are concerned with promoting a product even further to increase sales. For example, Coca-Cola advertises the same products over and over again; they introduced names to target people with that certain name.
Marketing
The marketing concept is when a business allows their customers to decide on the features of their product or service, before it is created. A business would use market research and use research & development to discover the customers’ needs and wants for a product/service.
Aims and objectives of two contrasting businesses
Private sector
P1 – Task 1
What is marketing?
Marketing is the function that connects businesses to their target audiences’ needs. It is how a business presents and distributes their product to their audience. For example, a business can market their product by advertising it to the public. This can be seen in many forms of media; such as: on television, via web, posters or on billboards.
Marketing is the management procedure in which the product or service is moves from concept to the customer. It includes the co-ordination of the 4 P’s of marketing: product, price, placement and promotion. [tutor2u.net]
The concepts of marketing
Production
The production concept is when businesses are more focused on making profit from their sales; the quality isn’t necessarily important as the company’s main concern is making sales. For instance, supermarkets such as Sainsbury’s and Tesco distribute their own products to the public. The production of products is also kept at a low cost.
Product
The product concept is when businesses focuses more on the quality of the product rather than how many of them are being sold. The business is more concerned with the high standards of the product set by customers and is prioritised. For example, smartphones have become more popular within society because of their many features.
Selling
The selling concept is when businesses are concerned with promoting a product even further to increase sales. For example, Coca-Cola advertises the same products over and over again; they introduced names to target people with that certain name.
Marketing
The marketing concept is when a business allows their customers to decide on the features of their product or service, before it is created. A business would use market research and use research & development to discover the customers’ needs and wants for a product/service.
Aims and objectives of two contrasting businesses
Private sector
References: [1] http://www.tutor2u.net/business/marketing/what_is_marketing.asp [2] http://www.businessdictionary.com/definition/marketing.html [3] http://searchcrm.techtarget.com/definition/market-leadership