Unit 3.1 Marketing Mind Map
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- Created on: 11-09-13 10:44
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- Unit 3.1 Marketing
- Businesses must identify and understand actual and potential customer needs.
- price must allow profit
- Market research should have relevant aims and objectives
- Surveys are important in market research
- Sampling is used on large amounts of people
- Businesses have a portfolio of products
- Market research use time and money
- Market research is limited by accuracy
- Product trial is useful to get products into the market
- Repeat purchases show customer loyalty
- Advertising is marketing
- Product life cycle- Development, launch, growth, maturity, saturation and decline
- Boston matrix- starts, cash cows, dogs and problem children
- Branding helps new products
- Product mix- how many products
- Logos help branding
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