Notesale: Turn your study into money

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Jaymes Mackrell

Business Studies

28/01/16

Aspects of Marketing
1
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Typically when niche marketing is in place the
business will have a specialised product that caters to the niche audience
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When you are advertising a
medicine you are only advertising to the people who have the ailment not everyone
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An advantage of niche marketing would be that the prices are typically
high priced and do not focus on sales
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Niche marketing focus’ very heavily on people knowing about the service or product
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Mass Marketing: Mass marketing is where you focus on getting everyone to buy
your product or use your service
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When you are having mass marketing
you need to sell essential product or services to your consumers
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Lidls have many adverts and claim to
have the lowest prices
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Computers are also very essential now a days and almost everyone has
them
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Depending on what computer is being sold it
depends on how much it is
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Product Oriented: Product oriented marketing is where the focus is on making the
product and making the customers want to own the product or want the use the
service
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The aim of the business should be to create the best product, using
the smallest price, and trying to get the most amount of profit possible
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Apple create phones and PCs which are the top of the line
and they market each new version of the product as even better than the last with
more and more features being added each time
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A disadvantage
of product oriented marketing will be where the business will focus so much on the
product that they will not keep up with new fashions, fads, and sometimes even
technology
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Market Oriented: Market oriented marketing where the business is focusing on
what the market wants rather than what the product is
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The Market Oriented
business uses market research to find out what the market wants
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An advantage of market oriented marketing is that the market will
want to buy the product and you know you will get sales
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Why does a business need marketing?: A business needs marketing for multiple
reasons
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Generating new sales is
key for a business and spreading the word about a new product or service is
essential to not going bankrupt
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In the world of business, market share is
everything and if you do not have good market share then you are not doing as well
as you should be
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Market share is a great measure of how good of a company your
business is doing
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This would increase the
amount of sales a business would get
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If you do not have
any marketing for a new product or service then hardly any people would know
anything about it and would then in turn result in low sales and low profits
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The fifth reason a
business would want to get marketing would be to extend a products life cycle
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This can result in more sales and more
profit
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This might result in spending more money in marketing than the sales they
get from the marketing
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This can tell people that you have
products or services to sell and could result in a higher sale count

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