Business Studies Unit 3 Marketing and Operational Strategies
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Internal factors influencing marketing objectives (4)
- Corporate objectives
- Human resources
External factors influencing marketing objectives (3)
SWOT analysis is ...
Advantages and disadvantages of quantitative analysis (3 & 4)
- Quick to obtain
- Quick to analyse
- Trends can be extrapolated from it
- Could be out of date
- Problems if too much data
- Random variations make it difficult to draw conclusions
- Trends don't always follow the same pattern
Advantages and disadvantages of qualitative analysis (3 of each)
- Focuses on needs of customers
- Learn more about behavioural trends
- Some managers prefer data provided by a human
- Time consuming
- Can be unreliable
- Uses small samples
Ways of segmenting a market (8)
- Geographical region
- Amount of use
- Ethnic grouping
- Family size
What five fluctuations are shown here?
- Upward trend
- Downward trend
- Random fluctuation
- Seasonal fluctuations
- Constant trend
What technique is used to smooth out seasonal fluctuations?
What are the four marketing strategies in Ansoff's matrix?
- Existing market / existing product: Market penetration
- Existing market / new product: Product development
- New market / existing product: Market extension or development
- New market / new product: Diversification
What would you like to do?
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