Customer focus AND THE MARKETING MIX

Learning Objectives Understand that any business needs customers to

survive (D) Appreciate that knowing who and how many customers

might be interested in buying products from the business is important (C).

Appreciate that a business must anticipate, identify and meet customer needs if it is to be successful ( C).

Understand that a business will have to consider its price, the product itself how to make customers aware of the product (promotion) and how to get the product to the consumer (place) as important elements in meeting customer needs (B/A).

Understand that different businesses will place different emphasis on the elements of the mix and that the mix can be amended to meet changing consumer needs (B/A).

Key terms

Marketing mix-the combination of factors which help the business to take into account customer needs when selling a product-usually summarised as the 4 p’s, which are price, place , product, promotion.

Price- the amount of money customers have to give up to acquire a product.

Product-a good or service produced by a business or an organisation and made available to customers for consumption.

Promotion-communication between the business and customer, making the customer aware that the product is for sale, telling or explaining to them what is the product, making the customers aware of how the product will meet the customers’ needs and persuading them to buy it for the first time or again.

Starter

‘Customer is King’

Do you agree the customer is always right?

Customer focus

1. Identifying need- using techniques such as market research to find out what customers want

2. Anticipating need-the best businesses are able to identify needs in advance to give them a competitive advantage.

3. Meeting customer needs-a business must be able to provide what ever customers want, whether that is quality, low price or excellent service.

Task 1

In pairs – identify how each of the three areas of customer focus can be implemented in practice, provide examples.

1. A business asking customers to complete a questionnaire as they leave the store.

2. Anticipating the weather- A fashion brand changing clothing in its stores to match the styles at a national fashion show.

3. A business adapting elements of the marketing mix. E.g. using recycled packing for environmentally conscious customers.

Student activity (15 min)

Student identify and describe - The marketing mix What are the four P’s of marketing mix Students divided into groups each group creates a

mind map for each of the 4 p’s. (15 min) Present to rest of class.

Product

Product must meet the needs of customers

The business must consider the following when DIFFERENTIATING their product from others:

Who is our product targeted at?

What will be our product range (variety)?

What will be our unique selling point (USP)?

What will our brand be about/brand name be?

What will be our formula (ingredients or materials)?

What will be our packaging?

PlenaryMatch the correct key term

Anticipating need

A

Identifying need

B

Meeting customer needs

C

1 2 3

A business must be able to provide what ever customers want, whether that is quality, low price or excellent service

The best businesses are able to identify needs in advance to give them a competitive advantage.

using techniques such as market research to find out what customers want

Product- A Price- B

Marketing mix- C

Promotion- D

Communication between the business and customer, making the customer aware that the product is for sale, telling or explaining to them what is the product, making the customers aware of how the product will meet the customers’ needs and persuading them to buy it for the first time or again. 1

The combination of factors which help the business to take into account customer needs when selling a product-usually summarised as the 4 p’s, which are price, place , product, promotion

2

The amount of money customers have to give up to acquire a product.

3

A good or service produced by a business or an organisation and made available to customers for consumption.

4

Assessment 1. Why a business does needs customers to survive? (D)

2. Explain how knowing who and how many customers might be interested in buying products from the business is important (C).

3. Understand that a business will have to consider its price, the product itself how to make customers aware of the product (promotion) and how to get the product to the consumer (place) as important elements in meeting customer needs demonstrated using mind maps during group work) (B/A).

4. How do different businesses place different emphasis on the elements of the mix and how can the mix be amended to meet changing consumer needs? (A).

Homework and Extension

Case study questions p.95Write a summary of what you have

learnt about customer focus and the marketing mix.