Btec Business Level 3 Unit 3 P1 M1 D1

In: Business and Management

Submitted By khavaimgoz
Words 5873
Pages 24
P1
Marketing is perhaps the most important activity in a business because it has a direct effect on profitability and sales. Larger businesses will dedicate specific staff and departments for the purpose of marketing. It is important to realise that marketing cannot be carried out in isolation from the rest of the business. For example, the marketing section of a business needs to work closely with operations, research and development, finance and human resources to check their plans are possible. Operations will need to use sales forecasts produced by the marketing department to plan their production schedules. Sales forecasts will also be an important part of the budgets produced by the finance department, as well as the deployment of labour for the human resources department and then finally a research and development department will need to work very closely with the marketing department to understand the needs of the customers and to test outputs of the R&D section.
The basic concept of marketing is that it enabled the company to identify the needs of their customers and produce products and services to satisfy those needs. By doing this, the customer is the most focus of the business when decision making is in process. A business that does this is marketing-orientated.
The production concept is where a business mainly focuses on creating economies of scale in production and distribution of a product or service. This assumes that customers will purchase lower-priced items, so demand is driven by availability. Examples of this is practice can be found in shops such as Primark, where the shop will purchase cheaper clothing materials to increase their profit margins.
The sales concept is known as ‘the hard sell’, this is where a product or service is produced and then in which personal selling and harsh selling techniques are used to convince customers to…...

Similar Documents

Btec Business Level 3 Unit 1 P1

...Name: Arsalan Anwar Business level 3 Unit 1: P1 Introduction: In this assignment I will be selecting two contrasting business which are going to be Tesco and Oxfam. I will be writing a written report describing their purposes and ownership, to do this I’ll talk about what goods and services they offer and to whom they offer these to. Finally I’ll talk about where they operate and which industrial sector of the economy they operate in. Introduction of Tesco Tesco is a massive company with high revenues, it is also a public limited company (PLC) that means it has limited liability, the meaning of limited liability is that the investor cannot lose more than the amount he has invested within the company intern this means that the investor is not personally responsible for the debts of the company so linking this to Tesco it will mean that if Tesco goes into debt the investors are not responsible to pay it off. The main aim of Tesco is to make profit and the reason it will make profit is because it is a well know and established company which has been trading for many years. It has over 2000 stores around the world and it is employing nearly up to 300,000 people which proves that it is a global organisation. Sector of the economy Tesco operate Tesco operates in the tertiary sector which is also know as the service sector and is one of the three main economy sectors, the......

Words: 1175 - Pages: 5

Btec Business Level 3 Unit 4 P1

...P1 – Describe the recruitment documentation used in a selected organisation. A brief introduction to Tesco. Tesco PLC is a global grocery and general retailer and is the largest retailer in Britain. Worldwide, there are around 5380 stores. Measured by revenues, Tesco is the third largest retailer in the world, after Wal-Mart and Carrefour and in terms of profit, Tesco is the second largest retailer in the world, after Wal-Mart. Tesco is also the biggest private sector employer in the UK, with over 360,000 employees worldwide. As a company, Tesco has grown. They have gone from a company, just selling groceries to providing a wide range of products and services such as loans, phone and broadband, to car and home insurance. A summary of the types of employment within Tesco. Tesco employ a wide range of different people to suit their needs. There are a large range of jobs that are available, from head office roles, to factory work. An explanation of the recruitment process with emphasis on the purpose and contents of job descriptions. This should be supported with annotated examples of job descriptions from Tesco. When Tesco have a job vacancy open, they will include a job description. A job description is a description of the responsibilities associated with the given job. This is used so that An explanation of the purpose and content of employment contracts. This should be supported with an annotated example of an employment contract from......

Words: 349 - Pages: 2

Unit 4 D1 Btec Level 3 Business

...D1- Evaluate the appropriateness of information used to make important strategic decisions. The Coca Cola Company is an American beverage corporation, manufacturer, retailer and marketer of non-alcoholic beverage concentrates and syrups, which is headquartered in Atlanta, Georgia. One department at Coca Cola is the financial department. The financial department uses on screen communication, this allows them to create data on the company’s financial assets. They use on screen communication to present databases, charts and a budgeting table for the company. A strategic decision that this department has made is to buy the remaining shares in Innocent drinks company. “The London company’s sales have grown 89% a year from £16.7m in 2004 to £113.2m in 2007.”(Sunday Time Fast Track, 2008)  The purpose of this strategic decision is to find a new market because Coca-Cola, the world’s biggest beverage company currently did not sell juice/smoothies in Europe. On the one hand Coca Cola based its decision to acquire Innocent Drinks on the growth figures reported. The information that Coca Cola use is appropriate and effective because, it allows Coca Cola to spot a gap in the market. They have seen the company become Europe’s most popular smoothies/juices company (Innocent is Europe’s top smoothie player, 2010). The successful relationship between Coca Cola and Innocent Drinks will support even more innovation and international expansion. However, they potentially should not of......

Words: 1012 - Pages: 5

Btec Business Level 3 Unit 1 D1

...A stakeholder is someone in a business who has an internet in the decision making that business make are stakeholders. Customers: Tesco wants customers to have good quality products. Most customers know about which products are best. For example customers want their products to be really high quality before they buy the product. The regular customers for Tesco’s may get a discount price on the product because they are registered to receive offers however great Ormond street is grateful to customers because their customers provides money and they help the hospitals needs and wants. This is how customers and we would like to see the businesses improve. Supplier: both businesses either have stock delivered or receive stock in order for their businesses to run. Great Ormond Street needs supplies of medicines and equipment in order for their operation and work to go well. However Tesco’s need supplies for products to serve to their customers. Owners: an owner can keep a close eye on how the business is running. The owners are important stakeholders for great Ormond Street and Tesco because they spend a lot of time setting up the business. The owners of the business take risks and they want to see their business be a success. Great Ormond Street has no owner however Tesco has an owner his name is jack Cohen. Local and national communities: the community may worry about the business activities. A social cost may be caused by pollution from a local factory or a national social...

Words: 563 - Pages: 3

Btec Business Level 3 Unit 4 P1

...| Method | Internal or External | Primary or Secondary | Qualitative or Quantitative | Verbal | Focus Group.A business such as Tesco would use a focus group to conduct research and find out customer feedback on new products they might want to introduce. | The focus group would be external because the group would consist of people not employed by Tesco its self. | A focus group would be primary because it is conducted by them and collected for one specific purpose. | Using focus group information would be qualitative. This is because it is using the opinions gathered | Written | Customer Survey.A customer survey would be a written method of communication because the customers would probably want to improve the business. | The customer survey would be external because it will be conducted by customers who are not employed by Tesco and there will be little bias. | The customer survey would be primary because it is collected for one purpose, to try and improve the business with suggestions from the customers and done by Tesco. | This survey would be quantitative because it is using the opinions gathered by the customer. | On-Screen | Special Offers.Tesco would use special offers for communicating with customers on-screen because many people now shop online and so it would only be right to offer the same deals from in store to online as well. Also, Tesco would use these offers to persuade the customer to buy the product. | Special offers would be external because they are......

Words: 508 - Pages: 3

Business Btec Level 3 Unit 10 D1

...Unit 10 Pass Criteria (D1) The first method that I used was a questionnaire I chose this method it allows me to analyse the user needs, expectations, perspectives, priorities and preferences. Because I needed to collect the data from such a large sample size it is a fast way to collect results, it also has high validity as the questions are very specific to the canteen and healthy food. By using a questionnaire it allows the staff and pupils to think about their answers; as I didn't require their reply immediately. The down side to carrying out this method was that I had such a large sample size it took a long time to collate all the data appropriately, if I was to do it again I would maybe choose my sample size using quota or stratified sampling. I also found that the lowers years also were confused on some of the questions or had left it out which meant that I then had to chase them up to complete it correctly which took a little more time. Maybe I next time instead of putting it in the teacher’s pigeon holes and getting them to administer it, I should go round to each form and explain it myself. Furthermore, I need someone to help share the conducting of research so that I can speed up the time process. I also found that timing is important I carried questionnaire during a regular school day as found out through secondary research that I would be less likely to get a good amount of respondents if I was to administer the questionnaire around holiday time or examination......

Words: 832 - Pages: 4

Btec Business Level 3 Unit 4 P1

...Explain different types of business information, their sources and purposes. (P1) Type of business information | The source of information - Internal and External | The purpose of the information | Audience requirements | Advantages | Disadvantages | Source | Verbal | Telephone | With an employee and a boss | The participants need to pay even more attention | Can ask questions immediately instead of waiting for a reply | Misunderstandings can arise because of poor word choice, differing perspectives and faulty communication techniques | | | Customer service | To ensure customers have the help they need | Interest | Can be forgotten or misheard | Language barriers are a major cause of confusion when attempting to communicate verbally | | | Team meeting | To clearly define their objective to make a decision, brainstorm ideas, approve a plan, communicate a change or get a status report | Attention span | Everyone is receiving the same information at the same time | People may forget what was said during the meeting as it had not be written down | | Written | Letter for interview | To let an interviewer know whether they have been a successful candidate | Legibility | Can refer back to the letter if they have forgotten any piece of information | It costs for a stamp to send a letter | | | Email for surveys | To collect data about their customer service | Readability | Rapid delivery, ease of use and ability to reach large audiences | Not everyone......

Words: 644 - Pages: 3

Unit 3 P1,M1,D1

...Unit 3 P1 I am going to describe how marketing techniques are used to market products and evaluate the effectiveness in two organisations (Sainsbury and Samsung). These companies use marketing techniques such as branding, relationship marketing and growth matrix. Branding Branding is very important to marketing because it helps establish a product in a market and build the brand. Most brands have certain things that make them noticeable like a logo or a slogan for example Samsung has their name in bold writing on their products like phones and TV’s and Sainsbury also use their name they do this so people will know what product they have, is known for its orange colour and name also one of their many slogans “live well for less” they have been massively successful, their logo is recognized very in the U.K. Sainsbury’s has made strong uses of is the color and text. The color and text is smooth and comforting, and when these colors are seen, they make you think of Sainsbury’s which make customers think that of their cheap and good quality products. All Sainsbury’s products have the logo on it even the bags so when someone has a Sainsbury’s product they know that their product are from Sainsbury’s and therefore it acts as advertising which is very successful. Both companies take their branding very seriously and both have similar logos however consumers recognise Sainsbury’s most of the time because of their colour and slogan * Live well for less *...

Words: 3475 - Pages: 14

Unit 13 D1 Btec Level 3 Business

...------------------------------------------------- D1 Unit 4– Evaluate the appropriateness of business information used to make strategic decisions. ------------------------------------------------- D1 Unit 4– Evaluate the appropriateness of business information used to make strategic decisions. Strategic decisions made by Amazon. Inc: Amazon uses a lot of information from different sources to help them make important strategic decisions. Some of these decisions include lowering prices and market judgement. Many of their important decisions are made with data. Lowering Prices: Amazon has made a decision to continuously and significantly lower prices for customers year after year as their efficiency and scale make it possible. When they lower prices, they don’t just look at the numbers, which always says that the smart move is to raise prices. They have significant data related to price elasticity. With fair accuracy, they can predict that a price reduction of a certain percentage will result in an increase in units sold of a certain percentage. With rare exceptions, the volume increase in the short term is never enough to pay for the price decrease. However, their quantitative understanding of elasticity is short-term. We can estimate what a price reduction will do this week and this quarter. But they cannot numerically estimate the effect that consistently lowering prices will have on the business over five years or ten years or more. Their judgment is that......

Words: 455 - Pages: 2

Btec Business Level 3 Unit 10

...|Assignment brief – QCF BTEC | |Assignment front sheet | |Qualification |Unit number and title | |BTEC Level 3 National in Business (QCF) |Unit 10 Market Research in Business | |Learner name | Assessor name | | |Duncan Llewelyn | |Date issued | Hand in deadline |Submitted on | |23rd April 2015 |19th June 2015 | | | | | |Assignment title |Unit 10 Market Research | |In this assessment you will have opportunities to provide......

Words: 1226 - Pages: 5

Business Btec Level 3 Unit 1 - P1

...Unit 1 - P1 Table 1 Types Of Ownership: | Definition: | Example: | Sole Traders | A sole trader business is owned and controlled by one person and the most common type of business. | Window CleaningPlumbing Electrical Work | Partnerships | A partnership is usually formed by signing a Deed of Partnership (which sets out how profits will be shared and the different responsibilities and payments to partners) with the paperwork being supervised by a solicitor. | Medical PracticeDental PracticeAccountantsSolicitors | Private Limited Company | Private limited companies tend to be smaller than public ones. Often family businesses. There must be at least two shareholders. Shares in private limited companies cannot be traded on the stock exchange. | Green EnergyJohn Lewis PartnershipVirgin Atlantic | Public Limited Company | Public Limited Companies have their shares bought and sold on the stock exchange. This allows the company to raise large amounts of capital very quickly. | ASDAMicrosoftBlackberryMcDonald’s | Government Departments and Agencies | They operate on behalf of the government and are staffed by civil servants, known in this department as customs and revenue officers. Civil servants are people who work directly for the government. Their job is to collect income tax & other taxes on behalf of the government, to collect repayments on student loans and make payments such as tax credits. | Child Protection AgencyCabinet OfficeDepartment For TransportNHS......

Words: 1553 - Pages: 7

Btec Level 3 Business Unit 1 P1, P2, M1, D1

...of Nottingham: | Consumer: | A consumer is an individual/organisation who buys a good/service for their personal use. They are a key stakeholder in some business’ as they are the primary source of their revenue. | A consumer would be interested in DFS, as they want them to produce high-quality, value-for-money products and the after-sales service in order to make any future sales. As they are the purchaser of the good, the business is essentially interested in the needs of the consumer. They can have a huge impact on the business as if they receive a poor quality product it would lead to any future sales being lost. This is vital as like every business, they need to sell in order to survive. In this instance the consumer could be pivotal to the survival if decline occurs. | A consumer would have an interest in The University of Nottingham as they want them to produce high quality service education. As the consumer are the students, they are market the business need to survive. If the educational system failed, then private businesses would fail to survive. This means that the business has to tailor the consumer’s needs for service. | Employee: | An employee is an individual who is hired under a contract of employment to work for a business. This could be Part-time, Full-time. Employees are key stakeholders in the business as they have that particular interest to work there, which should give reason to the companies to work ethically and look after the staff. | The......

Words: 3937 - Pages: 16

Btec Business Level 3 Unit 1 M1

...M1: Stakeholder Viewpoints and their Influence on Business Aims and Objectives In this assignment I will be looking at the different stakeholder viewpoints and I will also be looking at their influence on businesses aims and objectives. So first of all I will state what stakeholder it is, then I will outline the viewpoint of the stakeholder and then I will look at the list of aims and objectives of a business and then I will evaluate which aims and objectives were created to serve this stakeholder. Aims and Objectives: Tesco * Offering customers the best value for money and the most competitive prices. * Meeting the needs of customers by constantly seeking, and acting on, their opinions regarding innovation, product quality, choice, store facilities and service. * Providing shareholders with progressive returns on their investment improving profitability through investment in efficient stores and distribution depots, in productivity improvements and in new technology. * Developing the talents of its people through sound management and training practices, while rewarding them fairly with equal opportunities for all. * Working closely with suppliers to build long term business relationships based on strict quality and price criteria. * Participating in the formulation of national food industry policies on key issues such as health, nutrition, hygiene, safety and animal welfare. * Supporting the well-being of the community and the protection of......

Words: 1843 - Pages: 8

Business Btec Level 3 Unit 2 P1

...Unit 2 The selected organisation is Asda. Asda is one of the world’s most well-known and valuable brands and commands a leading market share in the world’s supermarket business. Asda produces food and general household products and it also has a cafeteria McCafe which produces hot drinks, sweets and snacks. The restaurant employs about 130 people. Its structure is a tall hierarchal structure. On top you find the Head Office which consists of the owner of Asda and the board of directors, after you find the CEO of the restaurant the administrator. After the administrator you find the managers which on top you’ll find the first assistant manager, then the second assistant manager and after you find the swing managers. After the managers there are the crew of trainers and then the crew of members. Job Description A job description sets out the purpose of the job, where the job fits into the organisation structure, the main responsibilities of the job and the key tasks to be performed. A job description will set out how a particular employee will fit into the organisation. It will therefore need to set out: the title of the job to whom the employee is responsible for whom the employee responsible a simple description of the role and duties of the employee within the organisation. A job description could be used as a job indicator for applicants for a job. Alternatively, it could be used as a guideline for an employee and/or his or her line manager as to his or her role and......

Words: 1558 - Pages: 7

Btec Business Level 3 Unit 3 Assignment 1 P1,P2,M1

...Introduction Marketing- is the action or business of promoting and selling products or services, including market research and advertising. A more simple definition is the right product, in the right place, at the right time, at the right price. It involves a business trying to understand its customers by identifying their needs and produce the products which satisfy those needs. The concept of marketing is that firms should analyse the needs of their customer and then make decisions to satisfy those needs, better than the competition. Nowadays most firms have adopted this marketing concept but it’s not always the case. The philosophy of this concept came around after World War II, when people had to be selective with the products they brought and only buy the ones that meet their needs and requirements but to businesses these would not always be obvious. Now companies have to always keep customers in mind when thinking of a product and the market is so competitive you will need to be the best product out there in that market to have the most chance of being brought. Three simple questions are often used when businesses decided to come up with a new product; what do customers want? Can we develop it while they still want it? How can we keep our customers satisfied? All being very good and valid questions to ask which will help to increase customer satisfaction as they are always in their minds. The two businesses I have chosen to use in order to compare and contrast their......

Words: 4679 - Pages: 19