BTEC Business Level 3, Unit 2: Developing A Marketing Campaign
Unit 2 Developing A Marketing Campaign
Overview
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A2 Influences On Marketing Activity
Internal Influences
When developing a marketing campaign you have internal and external factors that can influence the campaign.
- Cost of the campaign - First of all a firm must consider the cost of the campaign and whether they will obtain a return on their investment if they undertook the campaign.
- Availability of finance -They must also consider if they have access to the financial resources to fund the campaign. If it is a large organisation with good cash flow then access to funds may not be a problem, however if it is a small organisation which wants to expand and needs to undertake this campaign to do so, then gaining access to finance maybe more difficult.
- Expertise of staff - If firms have the right staff employed , these will include, researchers, brand experts, accountants then their expertise can be used to help steer the campaign towards success.
- Size and culture of business - If the organisation is large and forward and thinking then it’s culture is innovative and campaign launches have a good chance to succeed. If an organisation is large but backward looking and fails to change then any campaign will fail to succeed. We just have to look at retail giant BHS that has gone into administration
External Influences
External influences are defined as uncontrollables factors from outside the organisation which affect the organisation. Factors such as politics, technological developments and the economy can have an impact on how an organisation develops its marketing strategy.
The external influences listed in this section of the unit specification make up the popular acronym PESTLE even though the factors have not been listed in that order. Learnmarketing's PESTLE
article examines the external influences on marketing activity.
Marketing Activity Influences Conclusion
Marketing activities are affected by a combination of internal and external influences; internal influences can be controlled the firm but external influences are usually uncontrollable.
B Using information To Develop The Rationale For A Marketing Campaign
B1 Purpose Of Researching Information To Identify The Needs And Wants Of Customers
To Identify Target Markets
It is important that you identify your target market through the use of appropriate research. A company that does well is one that meets the changing needs and wants of their customers. It could be that the company focuses on a single market or it may target multi- targets.
To Identify Size, Structure And Trends In The Market
It is also important to look at the size, structure and trends of the market and monitor competitors. If we look at the British retail sector total consumer expenditure in 2015 was £40 billion, this is the size, the industry is made up of different types retail outlet, from independents to chains, this is the structure of the industry,. Most retailers have some sort of online service , this is the trend.
To Identify Competition
A competitor analysis will quickly tell you who is the market leader and what makes them so popular. So by looking at size, structure and trends, competitors and researching these issues it helps a firm or an entrepreneur decide whether it is viable to enter a particular industry or not.
B2 Market Research Methods and Use
Primary Research
If a firm decides to enter a market after their initial research they need to conduct further primary and secondary research the main types of primary research include, focus groups, mystery shoppers, personal interviews. For further information please read here.
Secondary Research
Secondary research is research that has already been published for you to access it can include internal research for example research on loyalty cards and external secondary research which can include looking at published research. For further information please click here.
Importance of Validity, Reliability, Appropriateness, Currency and Cost
Research conducted must meet certain criteria, it has to be reliable, valid and relevant to your business. Research must also fall within a budget, although you must remember it is cheaper to spend on research and conclude the business idea is not viable , then set up a business and then close it down after a few months because you discover there is no market for your idea.
Quantitative and Qualitative Research
Qualitative research is researching peoples views and and opinions where as quantitative research is all about researching numbers, for example how much people spend each week on their shopping. For further information, click here.
Sufficiency and Focus of Research
It is also important to to focus your research. The research must meets the research brief, it may be on a particular aspect of research and research has to be sufficient enough to help you set up your business.
Selection and Extraction
The right sample size also has to be selected and data needs to be interpreted and extracted from the research. This article on sampling provides further information.
Read on to learn about |
Introduction to the principles and purposes of Marketing that underpin the creation of a rationale for a marketing campaign B3, and C1 |
Unit 2 Developing A Marketing Campaign
Overview
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