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Direct Hit

Unit 4 - Marketing

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Chart Increasing

Unit 1 - Introduction To Business Management

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Briefcase

Unit 2 - Human Resource Management

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Money Bag

Unit 3 - Finance & accounts

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Factory

Unit 5 - Operations management

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Bar-Chart

Unit 6 - Assessment

<ul>
	<li>What is it? Think of a marketing plan as the GPS for a business&#39;s brand journey! It&#39;s a must-have document to map out strategies for reaching marketing goals.
	<ul>
		<li>🌍 Real-world example: Just like how Dora the Explorer has a map, businesses have marketing plans to guide them. So, no &quot;Swiper, no swiping&quot; those strategies!</li>
	</ul>
	</li>
</ul>

<ul>
	<li>Target Market: A group of awesome folks (consumers) with shared wants or needs. The business picks them out and says, &quot;I want to sell to YOU!&quot;
	<ul>
		<li>🛍️ For instance: If a company sells trendy teenage clothing, their target market would be teenagers!</li>
	</ul>
	</li>
	<li>Market Segment: It&rsquo;s like breaking down the big party (the market) into smaller friend groups (segments) based on what they like or do.
	<ul>
		<li>🎧 Example: Within our teenage market, we might have a segment who loves vintage clothing!</li>
	</ul>
	</li>
</ul>

<ul>
	<li>Mass Market: Selling to EVERYONE! It&#39;s like throwing a big party and inviting the whole school.
	<ul>
		<li>🍔 Like: McDonald&#39;s tries to appeal to, well, almost everyone!</li>
	</ul>
	</li>
	<li>Niche Market: The VIP lounge of markets. Super specific and focuses on a tiny segment of customers.
	<ul>
		<li>🌱 Example: Vegan ice cream shops target only those who crave dairy-free sweet treats!</li>
	</ul>
	</li>
</ul>

It&#39;s all about understanding how people see your product compared to others. Like, are you the cool kid, the smart kid, or the artsy kid in the market playground?

<ul>
	<li>📱 Real-world: Apple positions its iPhones as premium, innovative, and user-friendly compared to other phones. It&#39;s the &quot;cool tech kid&quot; in the smartphone world.</li>
</ul>

Businesses love to stand out from the crowd. How? Here&#39;s the magic sauce

<ul>
	<li>Product: Having a unique item.

	<ul>
		<li>📷 Like: A camera that instantly prints photos.</li>
	</ul>
	</li>
	<li>Service: Offering stellar service.
	<ul>
		<li>🚖 Think of a taxi service that offers free Wi-Fi and refreshments!</li>
	</ul>
	</li>
	<li>Price: Being the most affordable or luxurious.
	<ul>
		<li>💸 Example: Dollar stores vs. high-end boutiques.</li>
	</ul>
	</li>
	<li>Distribution: Being everywhere or somewhere special.
	<ul>
		<li>☕ Like Starbucks. Seems like there&#39;s one on every corner, right?</li>
	</ul>
	</li>
	<li>Relationship: Building strong bonds with customers.
	<ul>
		<li>💌 Think loyalty programs or businesses that remember your birthday.</li>
	</ul>
	</li>
	<li>Image/Reputation: How people see you. Are you the hero or the villain?
	<ul>
		<li>🌿 Example: Companies with eco-friendly practices often have a &quot;green&quot; and responsible reputation.</li>
	</ul>
	</li>
</ul>

Remember, business isn&#39;t just suits and numbers; it&#39;s also about understanding people and making things fun!

&nbsp;

Happy Studying!🎈📚

Mastering Marketing: Essential Strategies & Concepts Revealed!

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Standard Level

Business Management SL

Unit 4 - Marketing

Mastering Marketing: Essential Strategies & Concepts Revealed!

Table of content

Marketing plan magic! 🚀

Target market vs. market segment showdown! 🎯

Mass market vs. niche market duel! 🌍

Unlock the Full Content!

Unit 4 - Marketing

Mastering Marketing: Essential Strategies & Concepts Revealed!

Table of content

Marketing plan magic! 🚀

Target market vs. market segment showdown! 🎯

Mass market vs. niche market duel! 🌍

Unlock the Full Content!