BTEC Level 3 Business Studies. Unit 2: Developing a Marketing Campaign

Advertising - Promotion using paid for media. This may include on TV, cinemas, billboards and website pop ups.

Business goals - The company's performance targets—how it measures success

Competitor analysis - Exploring the activities of competitors to analyse their strengths and weakness, uncover trends in the market and find gaps in the market where a strong USP can be developed.

Competitor-based pricing - When a firm decides to set prices based on what other competitors are charging

Corporate image - Consumer perceptions of a company such as being trustworthy or of high quality. Cost plus pricing - Setting prices by calculating the cost of making the product and adding a 'mark-up' to calculate the selling price.

Digital marketing - Any online marketing activity such as social media advertising, website pop ups and email marketing.

Direct to end users - Businesses selling their own products straight to their customers. They may open up a shop or chain of shops to display their products and make transactions.

Ethical considerations - Being open and transparent with consumers about practices.

Extended marketing mix - The additional strategies marketers use when marketing a service rather than a product

Guerilla marketing - Using interesting or surprising images, objects or performances to grab attention of the people who come across it. The aim is for those people to share their experiences on social media and for it to become 'viral'.

Legal considerations - Customer protection, data protection, intellectual property, advertising standards authority ..

Marketing message - What a business wants to communicate about its brand and products to consumers.

Marketing mix - Strategies used to influence consumers to purchase products. They can be grouped by product, price, place and promotion.

Marketing objectives - the goals set for the marketing department to help the business achieve overall business objectives

Penetration pricing - Setting a low initial price on a new product to appeal immediately to the mass market then raising it when the product becomes popular.

People - The staff that interact with customers in the delivery of the service who can have a large impact on customer experience in receiving the service.

Personal selling - Strategies where a salesperson speaks to a customer face-to-face to try and convince them to buy a product. This may include door-to-door sales and in-store conversations.

PESTLE - A tool used to examine the political, economic, social, technological, legal and ethical factors in the external environment and analysis how they will have an impact on marketing decisions they might make.

Physical environment - The space in which service in received. This may be a hotel lobby, a branch of a bank or a hairdressing salon.

Place - The ways in which a business gets their product from manufacture to their customers

Price skimming - Setting a high price on the launch of a unique product and then lowering to reach a wider group of customers.

Pricing strategies - Penetration, skimming, competitor-based, cost-plus, loss leader, psychological....

Process - The systems used to support the delivery of a service. Examples include queuing systems and payments systems.

Product development - Adaptations made to goods and services to best meet the needs of the target market.

Product placement - Strategies where a business pays for their products to be displayed by another business such as a TV show.

Promotion - Techniques used to communicate an organisations brand and products to potential and existing consumers.

Public relations - Activities an organisation does to communicate a positive brand image to the public. This may include hosting events, involvement with charities, giving press releases and creating a positive presence on social media.

Research data - Information collected about consumers, competitors and the external environment.

Retailers - Stores that purchase goods in bulk from a range of producers and sell in store to their customers.

Situational analysis - Methods to break down and investigate factors affecting a business. Tools include SWOT, PESTLE, Porter's Five Forces and 5Cs.

Social Media Advertising - Online advertising using social media such as Instagram, Facebook and Twitter to reach out to potential customers and drive them to sales platforms.

Sponsorship - The method where a business pays to have their branding associated with a particular event.

Sustainable marketing activities - The promotion of environmental and social responsibility in products, practises, and brand values.

SWOT - A tool used to examine the internal strengths and weaknesses of an organisation and the external opportunities and threats.

Target market - Groups of customers and potential customers that a business aims to sell its products to.

Wholesalers - Organisations that purchase in bulk from multiple producers and sell to a range of retailers.

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