3.+MANAGERIAL+COMMUNICATION.++Marketing

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 * MANAGERIAL COMMUNICATION**
 * MARKET RESEARCH**

Learning outcomes 1. Know and understand the **purpose of market** research and analyse the

**costs and benefits of market research** to businesses 2. Know the different **methods** of market research, give examples of

appropriate research methods for given situations and discuss the advantages and disadvantages of the different methods 3. Understand **sampling methods** and discuss the reasons and limitations of

sampling

1. What type of methods of market research do you remember? What advantages/disadvantages do they have? 2. What sampling methods will you use in determining the research of leisure hotels? 3. What is the confidence level when conducting research? TASK You will conduct market research in order to improve a hotel/restaurant service. Will you use primary or secondary research methods or both? Devise a questionnaire that could be used with customers who used your services to find out what they think of it. NB! Closed questions will produce quantitative data and will be easier to analyse; open questions are more difficult to analyse but are more likely to elicit qualitative data. Which sampling method would be more appropriate?

THE MARKET SEGMENTATION



THE MARKETING MIX

When marketing their products firms need to create a successful mix of:
 * the right product
 * sold at the right price
 * in the right place
 * using the most suitable promotion

media type="custom" key="7447307"

1. Are the following promotional methods above-the-line or below-the-line? TV advertisements Discount vouchers Advertisements on supermarket trolleys E-mail newsletter Leaflet drops 2.Why do you think consumers will pay more for Oven Chips than it would cost them to buy the potatoes and oil to prepare chips themselves? 3.Exemplify promotional activities you may use for your THR business. 4.Give examples of above the line and below the line promotion. 5.What channels of distribution will you use to distribute your tourism packages? 6.What pricing strategies do you use in your company? 7.Think of an extension strategy for your 'Hunter's sauce' course in the Restaurant menu.

CREATING A MARKETING STRATEGY DIFFERENTIATING YOUR SERVICE/PRODUCT media type="custom" key="7447445" A PRODUCT LIFE CYCLE As a new product much time will be spent by the organisation to create awareness of it presence amongst its target market. Profits are negative or low because of this reason. If consumer clearly feel that this product will benefit them in some ways and they accept it, the organisation will see a period of rapid sales growth. <span style="color: black; font-family: 'Arial','sans-serif'; font-size: 10pt;">Rapid sales growth cannot last forever. Sales slow down as the product sales reach peak as it has been accepted by most buyers. <span style="color: black; font-family: 'Arial','sans-serif'; font-size: 10pt;">Sales and profits start to decline, the organisation may try to change their pricing strategy to stimulate growth, however the product will either have to be re-modified, or replaced within the market. <span style="color: black; font-family: 'Arial','sans-serif'; font-size: 10pt;">media type="custom" key="7447553" <span style="color: black; font-family: 'Arial','sans-serif'; font-size: 10pt;">Now do the post-listening exercises in your handout. <span style="color: black; font-family: 'Arial','sans-serif'; font-size: 10pt;"> <span style="color: black; font-family: 'Arial','sans-serif'; font-size: 10pt;">RESOURCES
 * <span style="color: #336699; font-family: 'Arial','sans-serif'; font-size: 18pt;">Product creation / Introduction **
 * <span style="color: #336699; font-family: 'Arial','sans-serif'; font-size: 18pt;">Growth **
 * <span style="color: #336699; font-family: 'Arial','sans-serif'; font-size: 18pt;">Maturity **
 * <span style="color: #336699; font-family: 'Arial','sans-serif'; font-size: 18pt;">Decline **

<span style="color: black; font-family: 'Arial','sans-serif'; font-size: 10pt;">[|RAYNAIR MARKETING MIX] <span style="color: black; font-family: 'Arial','sans-serif'; font-size: 10pt;">[|THE MARKETING TEACHER]

<span style="color: black; font-family: 'Arial','sans-serif'; font-size: 10pt;">QUIZZES <span style="color: black; font-family: 'Arial','sans-serif'; font-size: 10pt;">Multiple choice, fill in the blaks at [|Tutor4u] OnestopEnglish resource: Students practise Marketing essentials, develop an awareness of essential marketing concepts and expand their marketing vocabulary.