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mindmap_unit4.pdfUnit 4: Marketing
In our everyday speech, the word marketing is often associated with advertisements and finding innovative ways of getting people to buy a product or service. However, unit 4 shows us that marketing is much more than that.
Effective marketing requires consideration of everything from product quality to consumer perceptions and increasingly, engagement with people’s everyday lives to uncover needs that customers may not even be aware of themselves.
Read more...download the full syllabus content of unit 4
Suggested BM Tools to integrate
Suggested BM Tools to integrate
Ansoff matrix
SWOT analysis
STEEPLE analysis
Boston Consulting Group (BCG) matrix
Descriptive statistics
Gantt chart (HL only)
Simple linear regression (HL only)
Critical path analysis (HL only)
Contribution (HL only)
Hofstede’s cultural dimensions (HL only)
CCES CONNECTIONS:
CCES CONNECTIONS:
Suggested inquiry statements to explore:
Suggested inquiry statements to explore:
How marketing strategies may evolve in response to changeable customer preferences.
Why effective market research may bring about creative business practice.
How social media development could change an organization’s marketing strategies.
Why globalization can bring many changes to business activity.
Why successful marketing campaigns are increasingly being built around the ethical and sustainable practices of a business.
TOK CONNECTIONS
TOK CONNECTIONS
Can companies know us better than we know ourselves?
How might a company protect against sample error and bias when designing primary market research?
Are there different criteria for ethical standards for online services compared to physical products?
Are consumers rational?
Are predictions in the human sciences inevitably unreliable?
How might the language used in focus groups influence the conclusions that are reached?
Are consumers too unpredictable to study scientifically?
Is it possible to eliminate the effect of researcher bias when conducting market research?
What impact has social media had on how consumers acquire and share knowledge of products?
Meets Some Marketing Managers
Meets Some Marketing Managers
Meet Business Analysts drive continuous improvement at Google throughout the business by re-imagining every aspect of our business.
Louise , Assistant Brand Manager for UFLP: "I can sit behind my desk and work on a new marketing text and then I'll see it in the back of a product packaging in 6 months time. It's nice to see that end results that you can have an impact and be responsible for it, and feel proud of it when it actually lands on the shelves".
Meet Raymond, an intern at the marketing of Google/YouTube featuring the campaign of "life in a Day" and working on online distribution and social media strategies
Pooja, Marketing Manager, BigBasket and in charge of analytics: "Analytics means, to be able to use data to provide the best possible customer experience to our customers...from bringing in the data in, storing it, warehousing it, understanding it..."
"Steve Jobs shares his amazingly different approach to marketing and how he used it to build Apple into one of the largest companies in the world".
"Steve Jobs shares his amazingly different approach to marketing and how he used it to build Apple into one of the largest companies in the world".
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