7 marketing_strategy_introduction

7 marketing_strategy_introduction - objectives. Examples of...

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tutor2u GCSE Business Studies Market strategy - introduction Marketing strategies explain how the marketing function fits in with the overall strategy for a business. Examples of marketing strategies could be: Business Strategy Example Marketing Strategies 5 Launch new products 5 Expand distribution (e.g. open more shops) Grow sales 5 Start selling products into overseas markets 5 Increase selling prices Increase profits 5 Reduce the amount spent on television advertising 5 Implement a public relations programme Build customer awareness 5 Invest more in advertising Once a strategy has been identified, then the business must develop an action to turn the strategy into reality. The starting point for this plan is the setting of marketing objectives. Marketing objectives are the specific targets for marketing set by the business to achieve their corporate
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Unformatted text preview: objectives. Examples of marketing objectives might be: f Increase sales by 10% f Launch a new product by the end of the year f Achieve a 95% customer satisfaction rating f Increase the number of retail outlets selling our products by 250 within 12 months It is important for a business to set marketing objectives because managers can then have targets for their work. They can then measure more effectively the success or failure of their marketing strategies to achieve these objectives. Key Links for GCSE Business Studies http://www.tutor2u.net/ Discussion Board for GCSE Business Studies Other GCSE Business Studies Revision Notes and Resources from tutor2u Tutor2u GCSE Business Online Store...
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