HSC Business Studies Year 2016 Mark 94.00 Pages 16 Published Jan 23, 2017 Business Studies Band 6 Notes - Module 2 (Marketing) + QANTAS Case Study + Business Report Scaffold By Lucas (99.3 ATAR)
Powered by TCPDF (www.tcpdf.org) Your notes author, Lucas. Lucas achieved an ATAR of 99.3 in 2016 while attending Maitland Grossman High School Currently studying Bachelor of Engineering (Civil) / Bachelor of Business at The University of Newcastle Achievements: 2016 HSC All Round Achiever Award Band 6 in Physics Band 6 in Chemistry Band 6 in Business Studies Band E4 in Mathematics Extension 1 Band E3 in Mathematics Extension 2 Band 6 in Advanced English Dux of Maitland Grossmann High School in 2016 Lucas says: I completed my HSC in 2016 at Maitland Grossmann High School, receiving 10 units of top bands as well as achieving an ATAR of 99.30, making me DUX of the school. Over my HSC year I compiled my notes from various different textbooks, insights from teachers as well as past paper responses, making my notes comprehensive and enough to cover the entire syllabus to ensure no surprises in exams. I currently tutor in all courses of mathematics, physics, chemistry and business studies and use these notes to aid my students in their HSC year.
Chapter 1 Role of Marketing Strategic Role of Marketing Goods and Services Marketing is the total system designated to plan, price, promote and distribute products to potential customers. The strategic role of marketing is profit maximisation and growth, achieved through decisions set in the marketing plan Also involves identifying customer s needs and wants and ensuring those customers buy the product. Interdependence with other key business functions Marketing/Finance Marketing requires money provided by finance. Marketing generates sales for finance. Marketing/Human Resources HR recruit the right staff to meet the expectations set by marketing. Marketing/Operations Marketing relies on operations to deliver a quality product on time to meet the expectations set by marketing. Marketing conducts market research to know what product/service to produce in operations to satisfy customers needs/wants. Production, Selling, Marketing Approaches Production Approach (<1920s) - Focused on production - We make, they buy Selling Approach (1920s-60s) - Sales oriented marketing to beat competition - Incorporates advertising and sales people - Needs of customer neglected Marketing Approach (>1960s) - Market research conducted on customers need and wants - Relationship marketing used to keep existing customers
HSC Business Studies Marketing Types of Markets RESOURCE Primary production e.g. farming, INDUSTRIAL Buy products for use as inputs in production INTERMEDIATE Wholesalers and retailers who buy finished products and sell for profit TYPES OF MARKET NICHE Narrowly selected target market CONSUMER Individuals who purchase products not for profit MASS One product for all buyers
Powered by TCPDF (www.tcpdf.org) HSC Business Studies Marketing Chapter 2 Influences on Marketing Factors Influencing Customer Choice o Psychological Factors These are the motives behind why people select a certain product and may change based on our personality (characteristics), attitudes (toward a product or business), lifestyle and beliefs. o Sociocultural Factors Influences of other people and groups such as social class, culture, family, role and status e.g. trend towards a healthy lifestyle. o Economic Factors Influence of the changing economic cycle: Peak/Growth: $$ More inclined to make large purchases Downturn: More inclined to increase their savings Time o Government Factors Government can expand or contract the level of economic activity through policies. Their influences include: Taxation (fiscal policy) Providing grants Implementing laws and regulations Interest rates (monetary policy)