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Course Outline

Course Outline. BTEC Nationals in Business (Level 3) 1 lesson per week Unit 3: Intro to Marketing with MV (term 1&2) Unit 1: The Business Environment with DP (term 1&2) Unit 2: Business Resources with MV/DP (term 4/5) UCAS points equivalent. Commitment from you!.

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Course Outline

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  1. Course Outline • BTEC Nationals in Business (Level 3) • 1 lesson per week • Unit 3: Intro to Marketing with MV (term 1&2) • Unit 1: The Business Environment with DP (term 1&2) • Unit 2: Business Resources with MV/DP (term 4/5) • UCAS points equivalent

  2. Commitment from you! • All work submitted MUST be your own (plagiarism) • You MUST reference your work correctly • You MUST hand in work by the deadlines set • At times, you will be required to complete tasks outside of school hours (extended learning) especially for merit/distinction grades.

  3. MARKETING

  4. Introduction to Marketing(P1) Unit 3 BTEC National Level 3 Award in Business Yr12 Miss Vincent

  5. Learning Objectives By the end of today’s lesson, you should be able to… LO1) Define the term ‘marketing’ (Guided - Regular) LO2) Explain using examples what marketing objectives are (Regular - Strong) LO3) Analyse the marketing objectives set in private, public and voluntary sector organisations (Advanced).

  6. Competency Focus Research (I1): to research the policies and organisational values of your chosen company. Morals and Ethics (C1): to understand the moral values of voluntary sector organisations and how these have an impact on aims and objs

  7. MARKETING Class definition:

  8. LO1: A definition of ‘Marketing’ "Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably”. [Chartered Institute of Marketing (CIM)]

  9. LO1: A definition of ‘Marketing’ "Marketing is the social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.” [Kotler]

  10. LO2: Business Concepts Businesses exist for different reasons. These can be classified under the headings: - Sales Concept - Production Concept - Marketing Concept What is Alton Towers’ business concept?

  11. LO2: Business Concepts Sales Concept: ‘hard-sell’, business wants to push sales through Production Concept: Mass production of products where economies of scale are exploited. Marketing Concept: Seeks to satisfy consumer wants and needs. Putting the consumer at the heart of all decisions.

  12. Alton Towers: Making a profit! • All of the goods and services that Alton Towers Resort provides cost money. • Examples of Alton Towers Resort’s costs include: • Staff wages • Raw materials • Advertising costs • Electricity/power costs To cover these costs, a business sells the goods or services it provides - this is known as income or revenue. The money left after all costs have been taken into account is the profit.

  13. What about these...? • A business produces a low-priced, low-quality toilet paper which people will buy based purely on price and need. • A firm that manufactures replacement windows uses cold-calling to target residential households. • A firm has recognised the need amongst consumers for a heated flask. The product will be used mainly by people whose job requires them to be based on the road for long periods of time. • A firm manufactures large cardboard boxes; they gain cheaper raw materials by negotiating a rate with their suppliers for buying in bulk. Extension : An insurance firm has just opened up a new call centre, employing 1000 employees in Birmingham. They will now mass target customers by cold-calling households to try and sell their product. Two new sales people have just been hired by a telecommunications company to set up a stand at Merry Hill Shopping Centre, Dudley and try to sell wireless broadband to passers by.

  14. LO3:Aims/Objectives Aim: What a business wants to achieve in the long term . For example, to maximise profit or to survive. Objective: an outcome which allows a business to achieve its aims. E.g. To increase sales by 5% per month over the next 12 months.

  15. LO3:Aims/Objectives Objectives must be SMART: Specific Measurable Agreed Realistic Time-constrained

  16. LO3:Aims/Objectives Examples of SMART Objs: • To increase profit by 5% for each week during the month of December. • To reduce advertising budget by 15% for the financial year 2009/10. • To recruit an extra 10 highly motivated staff in the marketing dept over the next 12months.

  17. Scenario... You are the Managing Director at Alton Towers. You have setup a board meeting with your fellow directors to set the company’s aims and objectives for 2012. Write down 3 aims and 5 objectives (which must be SMART!) for the company publish in its annual report.

  18. Merlin Entertainments Group’s aims • Deliver unique, memorable and rewarding experiences • Develop brands that are distinctive, challenging and innovative • Deliver the best financial returns in the sector • Demonstrate a record of growth in market share • Train committed and passionate employees to deliver fun, happy and exciting experiences • Deliver prompt, professional and exceptional service • Be an exciting company to be involved with.

  19. LO3:What about the other sectors? Private Sector: • Main aims are profit/growth/survival. • Must be SMART. Public Sector: • Not-for-profit (usually providing a service) • Funded/controlled by government. • Objs include efficiency, value for money (taxpayers!!). Voluntary Sector: • Charities (local, national, international causes) • Objs such as raise money for a cause & raise awareness of the cause. - If a charity makes a profit, it is called a ‘surplus’. Now test your knowledge using the ‘cut & stick’!

  20. LO4: Marketing Objectives • Goals that a business is trying to achieve through its marketing. • Must be SMART. • Support the achievement of corporate objectives. • Example: To increase market share by 10% in the next 3 years.

  21. Memory Challenge Marketing Voluntary Sector Objective SMART Private Sector Production Concept AIM Public Sector Marketing Concept Organisation Sales Concept

  22. Key Terms

  23. P1: Describe how marketing techniques are used to market products in two organisations. Task 1- Produce a presentation Part A  • Provide two definitions of marketing • Identify the broad aims of organisations of the private, public and voluntary sectors. • Identify the aims specifically for each of your selected businesses. [This will form the introduction to P1]

  24. YOUR COURSEWORK... You must choose two organisations from the list below, one from the private sector and one from the public or voluntary sector.

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