P3 Market Research is the process of gathering‚ analysing and interpreting information about a market. You can be talking about a product or service to be offered for sale in that specific market and about the past‚ present and potential customers for the product or service. Market Research Includes: • Primary Research • Secondary Research • Quantitative Research • Qualitative Research • Uses of Market Research • Limitation of Market Research Primary research: This is where there is
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Limitations and Constraints – P2 Legal constraints Sale of Goods Act 1979 The Consumer Protection from Unfair Trading Regulations 2008 Consumer Credit Acts 1974 and 2006 Consumer Protection (Distance Selling) Regulations Data Protection Act 1998 Sales of Goods Act 1979 Under the Sales of Goods Act 1979 a company has to follow rules and regulations by law; this gives customers certain legal rights such as the right to return an item that may be faulty‚ if they want a refund
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In a report you need to evaluate the effectiveness of the use of the techniques in marketing products in this business. How effective is it? Technique Effectiveness Relationship It is very important for Apple to have a good relationship with their customers because loyalty will greatly increase their profit. The good relationship Apple keeps with its customers through great customer service and good deals ensures that customers will keep coming back to buy more products. If their customers are
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According to‚ the Ansoff Product-Market Growth Matrix is an instrument in marketing that was developed by Igor Ansoff. In the Ansoff matrix‚ it allows the marketers to look at different ways to grow the business through existing products and markets and new products and markets. Moreover‚ the matrix is composed of four various strategies: - Market Penetration- market penetration is composed of existing products and markets‚ it occurs when an organisation enters an existing market with current
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Unit 3 P1 Describe how marketing techniques are used in the marketing of products in two organisations Product cycle Introduction The businesses and products I chose happened to be‚ Nike and their Mercurial football boots‚ and Sony and their PS3 gaming console. I chose these products because I think they are both reasonably diverse‚ and in their time‚ both these products have experienced a range of sections within the product life cycle. For example‚ due to Nike’s football boots having to be constantly
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is food in Tesco might be seen differently to the food in Lidl. Market development This involves releasing an existing product into a new market‚ for example a IPhone that has been selling well in the UK will be sold across Europe. Relationship Marketing This focuses on building a good relationship with customers in the long term basis. They try to build an everlasting one to one relationship with their customers in order to guarantee themselves customers for a long time. How does Apple use it
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Introduction to Marketing – Comparing Marketing Techniques in H&Meting Techniques in Hollister and Primark For this assignment I was meant to write about Primark and Hollister. I am still basing part of my assignment on Primark. But‚ I have changed Hollister to H & M as I was unable to find any information on Hollister The information I found on Hollister the background I couldn’t find anything about aims and objectives and how Hollister market the business. The information I found
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UNIT 3 - Introduction to Marketing M2 In this report I will pinpoint and give an explanation about the limitations of the marketing research methods used in my selected organisation being investigated‚ Tesco Mobile. Tesco Mobile There are a lot of limitations of marketing in terms of research. The size of the research‚ big or small‚ comes with the possibility of being incorrect; meaning that Tesco also has its limitations to its market research. Club Cards The creation of the Tesco club card was
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Unit 12: Sports Nutrition Unit code: H/502/5640 QCF Level 3: BTEC National Credit value: 10 Guided learning hours: 60 Aim and purpose The aim of this unit is to provide a broad understanding of the importance of nutrition and hydration to a variety of sports participants. Unit introduction The importance of good nutrition and hydration in sports has grown in popularity in recent years. The significance of a healthy balanced diet and its links to good health and improved
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P3-Describe how a selected organisation uses marketing research to contribute to the development of its marketing plans In this section of the unit the investigation of the marketing research used by Kellogg’s will be shown through thorough research and evaluation also how it links in to the development of Kellogg’s marketing plans. The Purpose of Market Research Marketing research is what informs business’s make decisions by helping it to understand the changing dynamics of its market. This involves
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