Understanding the Business Market

Transcription

1 Unit Code: AA3/3/EA/014 This unit has 4 learning outcomes 1. Understand the concept of business vision 1.1. Explain the importance of a clear business vision 1.2. Create a business vision for a business in the creative industry 1.3. Outline the relationship of marketing to achieving the vision of a business 1.4. Explain the importance of customer focus in establishing marketing objectives to achieve the business vision 1.5. Outline how marketing signposts the direction of a business 1.6. Explain what is meant by a marketing mix 1.7. Review the elements of a marketing mix for a business in the creative industry 1

2 Unit Code: AA3/3/EA/ Understand an external business environment 3. Know how to identify and analyse target customer groups 2.1. Identify the key elements of a business external environment 2.2. Identify key business opportunities and threats by analysing business information 2.3. Outline internal factors that may impact on a business ability to maximise opportunities 2.4. Identify direct and indirect competition 2.5. Amend marketing objectives based on an analysis of direct and indirect competitor information 3.1. Explain the purpose of understanding the difference between customers needs, wants and expectations 3.2. Outline methods of identifying and segmenting customer groups within a market place 3.3. Identify the target customer group for a business 3.4. Define the needs, wants and expectations of a given target customer group 3.5. Select marketing offers for a target customer group, reflecting their needs, wants and expectations 2

3 Unit Code: AA3/3/EA/ Be able to analyse marketing information 4.1. Outline the ways in which the success of a marketing plan can be monitored and evaluated 4.2. Describe methods of collecting information about customers 4.3. Outlining the strengths and weaknesses of each customer 4.4. Analyse the results of customer feedback to identify opportunities for business improvement, reviewing and amending marketing objectives as appropriate 4.5. Design a brief evaluation tool to compare the business marketing offer against that of a direct competitor in one area of the business

4 Unit Code: AA3/3/EA/014 ASSESSMENT INFORMATION Specific Requirements for Assessment and delivery of this unit. ASSESSMENT AND DELIVERY INFORMATION Centre devised assessment tasks should be approved by the internal verifier for the course before delivery takes place in order to ensure the assessment is fit for purpose and meets the standards required. Unit Summary In this unit, learners will gain an understanding of the concept of business vision and an external business environment. They will gain experience in identifying and analysing target customer groups and marketing information. Indicative Content Learning Outcome Customer groups: including socio-economic, lifestyle and demographic. Learning Outcome Monitored and evaluated: including financial, customer satisfaction, staff feedback, volume of new business and volume of repeat business. Delivery Requirements/Recommendations Assessment tasks will be devised to meet the needs of the learning group and to cover all the criteria. 4

5 Unit Code: AA3/3/EA/014 Owner: Unit Grading Structure PASS Sector Subject Areas (SSA) 7.1 Retailing and Wholesaling, 7.4 Hospitality and Catering 15.4 Marketing and Sales Unit Review Date (dd/mm/yyyy) 31/03/2018 Availability for Use Restricted organisations Assessment Guidance Shared Equivalences 5