• Market
• Target market
• Marketing mix
• Market research & Product development
• Advertising
• Selling techniques
• Public relations
• Export markets & Import substitution

• Market is a place or contact between a seller and buyer, where goods and services are bought and sold.

There are many types of markets just as there are many types of goods and services.

• Nowadays a buyer and seller do not have to meet in order for goods and services to be bought and sold.
• e.g. goods are bought and sold over the Internet

• Not all products and services suit everyone, thus markets have to be divided. This is called market segmentation
• The particular type of market you aim the product or service at is known as the target market.

• It is important to identify target market to guarantee success. Must consider:
– Age
– Location
– Season
– Gender
– Lifestyle

• Marketing is the process of identifying and anticipating consumer needs
AND
• Identifying products and services that can be produced to satisfy these needs at a profit

Marketing is consumer orientated. This means marketing is all about finding out what products consumers want, developing the product and then getting it to the market.

• Product- deals with type, design, size colour of product or service.
• Price- which deals with cost of production and selling price of product, e.g.€0.80

• Promotion- deals with advertising, sales promotion and selling techniques. “Have a break have a Kit
Kat”
• Place- deals with channels of distribution for a product and the final place of selling.

th
• Sometimes it is suggested that there is a 5 th P?
• Packaging does not just refer to the way a product is wrapped but also refers to the image that a company will try to create for its product
NOTE:
Only Price, Product, Place and Promotion are accepted as answers for elements of the Marketing Mix for Leaving Certificate Business

Consider a product that uses its packaging to portray a certain image?
Name and Explain!

Match the appropriate P of marketing with the appropriate explanation?
1. Product (a) Cost of Production
2. Promotion (b) Design
3. Place (c) Advertising
4. Price (d) Distribution

• Gathering, recording and analysing information about the market.
• Reasons for carrying out market research:
1. Consumer needs
2. Market size
3. Price, image, packaging
4. Advertising and Promotion
5. Competitors

Desk (Secondary
Research) - assessing information already available. Cheap and quick e.g. Internet,
Central Statistics
Office (CSO) http://cso.ie/en/index.html

• Field (Primary
Research) - going to market place obtaining peoples views. More expensive, time consuming yet more accurate e.g.
Questionnaire,
Observation

Some sort of selection, should be a representative of market.

• A new product is tested on a small number of people to find their reactions

Which two of the following are different types of field research?
• Collecting information on the internet
• Observing consumer behaviour in a market place
• Conducting interviews by phone
• Researching magazines and newspapers.

Which two of the following are different types of field research?
• Collecting information on the internet
• Observing consumer behaviour in a market place
• Conducting interviews by phone
• Researching magazines and newspapers.

• Must be carefully designed
• Clear and simple
• No leading questions
• Should not suggest certain answers.

Q1 Do you eat ice-cream Yes □No□
Q2 What price do you usually pay for an ice-cream?
20c□ 50c□ 80c□ €1□
Q3 What type of ice-cream do you eat?
Ice-lolly □ Chocolate □Vanilla□ Strawberry□
If others please elaborate?
Q4 When do you eat ice-cream?
daily□ weekly □ fortnightly □ monthly □

Design a questionnaire (using the word processing programme or Google
Forms/Survey Monkey) to research the market for a new chocolate bar called Chocolate Heaven?
Consider the 4 P’s when designing the questionnaire!

• Existing product redesigned if necessary. Information collected on market research process.
• Helps ensure product or service is better than that of competitors and also that consumer needs can be met leading to greater sales and increased profit.

• Giving of information about a product or service.
• Successful advertisements catch customers:
– Attention
– Interest
– Desire
– Action

Q1 Using the internet and the website www.youtube.com
search the advertisements for Meteor, Coca Cola and
Galaxy chocolate? Can you identify the target market for each advertisement?
Q2 Design a suitable advertisement on the computer keeping in mind the key elements of a successful advertisement?

• Informative - gives consumers information about a product or service e.g. price
• Persuasive - trying to persuade customer to buy goods e.g. Special K
• Competitive - criticising other products or service e.g. ALDI/Tesco
• Generic - promote an industry as a whole e.g. need energy, drink loads of soft drinks, cheese/milk

• Newspapers and magazines
• TV and Radio
• Shopping bags
• Internet
• Billboards

• Businesses use several methods to increase sales
• Often incentives or bonuses offered directly to consumers called sales promotion or special offers

• Branding:a brand is a name/sign/symbol/design used by a firm to identify its products and distinguish them from other similar products, e.g.

• Some businesses will offer certain goods at a reduced rate with often little or no profit margin. This is known as loss leader
• Loss leader is intended to attract customers to a store where they will buy more than the deducted item.
Can you think of any retailers that use this technique?

• Using a particular logo is known as
BRANDING
• Branding helps differentiate a product from that of a competitor
• Very successful method of encouraging customer loyalty.

Using the internet locate five famous logos, create a presentation and explain the company or product that these logos symbolise.

Q1 Businesses use selling techniques to increase sales?
Q2 Giving a free gift with a product is an example of branding?
Q3 Businesses add logos to products so that they will be more identifiable to consumers?
Q4 A loss leader is a product which is sold at a higher price to encourage consumers to buy it?

• Important for a business to have a positive image
• Most businesses have a PRO (Public
Relations Officer) who looks after this area.
• A PRO makes contact with the public through press releases and press conference

• A PRO maybe involved in sponsorship deals, where a firm pay money to have it’s name associated with something
• Name four companies and the sporting events/teams that they sponsor?

• Irish Market is quite small, which makes it difficult for some businesses to survive
• For this reason businesses try to sell products to other countries, called exporting
• Majority of Irish Exports are sold to the U.K.

• Imports are goods brought into
Ireland from other countries
• Import Substitution - businesses may try to develop goods in Ireland to replace foreign goods on the Irish
Market, e.g. Fiacla toothpaste

Goods/Services come to
Ireland
Money flows out of
Ireland to pay for the
Imports
€
Goods/Services leave Ireland
Money flows into Ireland
€

• Market
• Target market
• Marketing mix
• Market research & Product development
• Advertising
• Selling techniques
• Public relations
• Export markets & Import substitution