Marketing Foundations Tut notes PDF

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very brief work, my tutor was rubbish so not much went on...

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Marketing Foundations Tut notes Week 1 Kim huynh [email protected]      

Group assignment Technology idea from kickstarter.com Doing company research I think? What is Marketing Ethics is extremely broad field concerning good ethical decision-making Sustainable marketing is about minimising the environmental impact of products/services Corporate social responsibility (CSR) is about company’s obligation to society Identifying 6 macro-economic factors and explain their relevance to marketers o PESTEL  Political(investment policies and gov intervention)  Economic (eco trends and purchasing power) Week 2

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Market research o Results in decisions take form of marketing plans o Begins with issue, discovers info, allows informed decisions about how tor respond, ultimately results in outcomes that match marketing goals o Effectiveness of market research evaluated in order to prove a return on the investment. Captured by marketing metrics such as brand awareness and product sales Primary vs secondary data o Primary – something you design, collect and evaluate yourself  Adv – specific, reliable, unbiased  Dis – expensive, time consuming o Secondary data – data which already exists from a different sources  Adv – less- expensive, saves time  Dis – too general, outdated o Secondary data, internal and external  Internal – includes transactions, competitor activity, customer records, inventory records, previous research etc.  External – gov output, company records, industry overviews, consumer generated content A research brief is required to ensure market research project generates the info required within the specified timeframe and budget Qualitative and quantitative research o Quantitative research focuses on collecting data that can be represented numerically, eg survey containing responses answering on a scale of 1-5  Adv – easy to analyse, less time consuming, bigger sample size  Dis – too general, sample error o Qualitative research approaches are usually used for descriptive or causal research, focuses on obtaining rich, deep and detailed info through interviews and focus groups  Adv – deep and detailed info,

Marketing Foundations Tut notes

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 Dis – time consuming, smaller sample size 5 major components of market research o Defining research problem o Designing research methodology o Collecting data o Analysing data and drawing conclusions o Presenting results and making recommendations Week 3 5 situational influences on consumer behaviour o Physical o Social o Time o Motivational o Mood Autonomic – one person makes decision for group Syncratic – decision made together Week 5

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Product layers o Core o Expected o Augmented o Potential Week 10...