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3.1.1 The Role of Marketing
Learning Outcomes
• To be able to define marketing• To understand why identifying and satisfying
customer needs are important• To understand why building and maintaining
customer loyalty is important
Starter
• Watch the Sinclair C5 video
• What things went wrong?
What is a market?
• A place where buyers and sellers come together
What is Marketing?
• The process of IDENTIFYING and SATISFYING consumer NEEDS and WANTS PROFITABLY.
Marketing Objectives
• Growth• Increasing or maintaining market share• Making a profit• Increase consumer awareness• Improve the product range
Task 1
• Anticipating market opportunities
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