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BTEC Business Level 3 - Unit 2 - Developing a Marketing Campaign Study guides, Revision notes
Marketing (MKT 7004)
Cardiff Metropolitan University
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Report 1 - Introduction
- Summarise the business
- Explain what you’ve been asked to do in order to achieve the company’s aim
- Explain which of the two options you’re choosing to and for what reason
- Explain the chosen marketing message and how it’ll benefit the company
- ‘For this activity I have been asked to prepare a rational for ... in order to ... To achieve
this the company will either be ... I have chosen to follow the promotional strategy of ... as I believe ... My chosen marketing message will be to promote ... as a .. will demonstrate ...’ Aims & Objectives
- State main aim from briefing, and a rough idea of what will need to be done to achieve it
- State a personal marketing aim for the company
- Give 3/4 SMART objectives (Specific, Measurable, Assignable, Realistic, Time bound)
that relate to the business’ aim
- Using data from the case study justify the realism of the objective
- What’ll be done, why will it help, who will help, and when will it be completed
Justification (SWOT & PESTLE)
- SWOT formatted in a table, 3-4 well explained points for each SWOT factor
- Each point should explain why it is a strength, weakness, opportunity or threat to the
business and should be backed up from the case study
- PESTLE formatted in six short paragraphs, ( Political , Economic , Social , Technological ,
Legal , Environmental )
- Each point should explain how it’ll affect the business and how they might react - backed
up by case study Reliability/Validity of research
- Two paragraphs on the reliability/validity research you’ve used
- Reliability - are the sources based on opinion or fact? Is the sample size of the research
are enough to make a judgement? How could this be improved?
- Validity - Is the research you’ve used up-to-date and relevant to the point your making
Report 2 - Introduction
- Explain this section will include a full marketing plan including the budgets, timescales,
and recommended strategies for the company based on the 7 P’s of marketing Marketing Mix
- Seven short paragraphs on seven recommendations for each of the 7 p’s ( Product ,
Price , Place , Promotion , People , Physical , and Process ) of the marketing mix, based on the market (size of market, target market, competitors etc), Aims and Objectives, and Marketing Message
- Also use data/evidence from case study to explain how each recommendation will help
the business to achieve the objectives and convey the marketing message
- Also explain any negatives to any recommendations
Budget
- Provide all costs for each activity/recommendation
- Provide costs for each months formatted within a table
Timescales
- Decide on a total length of time for the business to complete the marketing plan
- Provide a Gantt chart or table to demonstrate the timescale and breakdown each activity
- Provide an explanation as to why each activity will take so long
- [Combine Gantt chart with costings for each activity too]
Conclusion
- Very brief paragraph explaining as to why this marketing plan will help the business
achieve its aim of generating more revenue
Aims & Objectives
- Increase brands online presence/overall brand awareness (Social Media ‘reach’)
- Increase sales by ...% (average conversion rate of an e-commerce site 2%)
- Increase likes/follows/views by/to ...
PESTLE
Political - Corporation tax of 19% in the UK (Company can then take in more revenue that they can then reinvest and expand their business with compared with others who have a higher tax rate in their country). Foreign regulations Economic - Inflation and poor state of the current economy / Many may be unemployed and looking for work / domestic production has declined recently however businesses introducing niche products to their range have benefitted greatly. High quality products have most recently become the top selling product, attracting customers with their premium features which is compensated by its price / increase in spending of luxury goods whilst unemployed. Social - Social trends in youth culture today are various and dynamic , keeping tab on current trends, market research and competitors is vital to stay profitable and competitive in any market. Technological - New process technologies are constantly being introduced and redeveloped to increase efficiency and reduce costs of production. Gains a competitive advantage for any business. Legal - Keeping to food safety act 1990 regulated by the food standards agency, many businesses need a license to to run however there are some exemptions, of which any dairy production business must be aware of / industry lacks a basic form of infrastructure, leading to a variety of legal issues. Environmental - The world is more concerned about climate change than ever before. Creating a marketing message that promotes the idea of being a green company will immediately allow the business to save money reducing waste, improve profitability and enhance its competitiveness.
7 P’s Product - Most successful brands have multiple product lines with some even delivering catering services for large events Price - The pricing of a product can have a huge effect on how it’s perceived. Pricing can determine the amounts of profits a business will bring in and also the value of its products. There are many customers who’ll base the quality of a product or service off of just its price. Place - Place is the point of where a company’s goods or services are moved from the company to the consumer. It’s vital for a business to have a place where customers can find a business’ products with ease. Furthermore it should be available to customers at the right place and the right time, in order to meet demand. Promotion - Promotion is raising awareness for a product, service or brand in the market; engaging consumers to make more sales. Effective promotional strategies will raise, increase sales and generate more revenue. People - All people involved with process of producing a brand’s product are essential. However, those dealing with selling the product and serving customers are at the most importance to representing the brand and ensuring its success. Any company should therefore be selective in hiring those selling their product directly to their consumers or to third-party means. Process - The entire process the customer experiences when interacting with any store or business must leave a good impression in order to build up a good reputation among its consumers and further lead to more loyal customers.
BTEC Business Level 3 - Unit 2 - Developing a Marketing Campaign Study guides, Revision notes
Module: Marketing (MKT 7004)
University: Cardiff Metropolitan University
