- •Череповецкий государственный университет
- •Кафедра экономики
- •Современный бизнес
- •Contents
- •Введение
- •Unit 1. The effects of demand and supply on business
- •1.1. Markets
- •Test Questions
- •Case study ‘Understanding the Market’
- •1.2. The Operation of Markets
- •If social costs exceed social benefits, the decision to produce a good or service makes society worse off even if the producers make a profit.
- •If social costs are less than social benefits, the decision to produce a good or service will make society better off. Test Questions
- •Case study ‘Record Industry’
- •1.3. The Effects of Government Policy on Markets
- •Indirect taxes
- •Test Questions
- •Unit 2. The competitiveness of a firm
- •2.1. The Performance of an Industry
- •International Trade
- •International comparisons
- •2.2. Government Action to Improve Competitiveness
- •2.3. Government Action and International Trade
- •2.4. Business Competitive Strategies
- •Test questions
- •Case Study
- •Unit 3. Business Organisations
- •3.1. Types of Business Organization
- •3.2. Organizational Structures
- •3.3. Factors Influencing the Organisational Structure
- •Internal factors
- •Test Questions
- •Case Study ‘Business Organisation & Structure’
- •Unit 4. Administrative systems
- •4.1. The Purpose of Administrative System
- •4.2. Administration Functions in Business
- •4.3. Evaluating Administrative Systems
- •4.4. Information Technology in Administration
- •Test Questions
- •Case Study ‘Satellite Supplies’
- •Unit 5. Communications Systems
- •5.1. Why Do Businesses Need Communications System?
- •5.2. The Objectives of Communication
- •5.3. Verbal Communication
- •Internal communications
- •5.5. Evaluating Communication Systems in Business
- •Test Questions
- •Case Study ‘Can You Communicate?’
- •Unit 6. Information Processing
- •6.1. The Purposes of Information Processing
- •6.2. Types of Information Processing Systems
- •Information Technology: positive and negative effects
- •6.3. Evaluating Information Processing Systems
- •Test Questions
- •Case Study “Information Technologies in Business”
- •Unit 7. The principles and functions of marketing
- •7.1. What is Marketing?
- •7.2. The Objectives of Marketing
- •7.3. Implementing the Marketing Mix
- •Test Questions
- •Unit 8. Market Research
- •8.1. What is Market Research?
- •8.2. Sources of Marketing Information
- •Information requirements
- •Internal sources
- •8.3. Primary Research
- •8.4. Market Changes
- •Information on sales
- •Test Questions
- •Case Study ‘Sun Rush’
- •4M Brits shrug off gloom in sun rush
- •Unit 9. Marketing Communications
- •9.1. Targeting an Audience
- •9.2. How to Reach a Target Audience
- •9.3. Product Performance
- •9.4. Guidelines and Controls on Marketing Communications
- •Test Questions
- •Case Study ‘Marketing Communication’
- •Unit 10. Customer Service and Sales Methods
- •10.1. ‘The Customer Is Always Right’
- •10.2. Placing the Product – Distribution
- •Indirect distribution via intermediaries
- •10.3. Closing the Sale
- •Test Questions
- •Case Study ‘Company Handbook’
- •Unit 11. Production
- •11.1. What is Production?
- •11.2. Just in Time Production and Total Quality Management
- •11.3. Improving the Productivity of Labour
- •11.4. Health and Safety at Work
- •11.5. Reducing Pollution from Production
- •In the working environment
- •In the natural environment
- •Test Questions
- •Case Study ‘Production and Productivity Consulting’
- •11.6. The Costs of Production
- •Identifying business costs
- •Indirect costs
- •Insurance
- •Variable costs
- •Test Questions
- •Case study ‘Waterhouse Waffles’
- •Unit 12. Pricing decisions and strategies
- •12.1. The Pricing Decision
- •12.2. Cost-Based Pricing
- •12.3. Market-Based Pricing
- •12.4. Competition-Based Pricing
- •12.5. Problems with Demand- and Competition-Based Pricing
- •Test Questions
- •Case Study ‘What Price Promotion?’
- •Unit 13. Monitoring business performance
- •13.1. Accounting for Business Control
- •13.2. Budgetary Control
- •Variance analysis
- •13.3. Ratio analysis
- •Test Questions
- •Case Study ‘Business Performance’
- •Unit 14. Preparing a business plan
- •14.1. What Is a Business Plan?
- •14.2. The Purposes of a Business Plan
- •14.3. Legal and Insurance Implications
- •Insurance
- •14.4. Business Resources
- •14.5. Potential Support for a Business Plan
- •Some review questions
- •Unit 15. Producing a Business Plan
- •15.1. Business Objectives and Timescales
- •15.2. The Marketing Plan
- •15.3. The Production Plan
- •15.4. The Financial Plan
- •15.5. Conclusion
- •Some Review Questions
- •Case Study ‘Business Plan’
7.2. The Objectives of Marketing
Marketing objectives and functions
The goals of marketing will reflect the overall objectives of business such as profit maximisation, growth, or the provision of a charitable service. Marketing objectives will therefore differ from company to company but are likely to include some or all of the following:
Analysing market needs. Market research can be used to gather information about consumers’ buying habits and spending patterns. Firms will use this information to identify market opportunities for new products and marketing strategies.
Growth – developing new products. A firm may set the goal of developing the new product or modifying its existing product range to satisfy consumer requirements. Product development can involve the modification of existing product lines, the creation of new products, and technological breakthroughs. For example, the development of laser and fibre optic technology has brought us products such as compact discs and cable television, as well as applications in the healthcare and defence industries.
Growth – entering a new market. A business must choose wisely which markets to enter to sell its products. It may target overseas markets or particular groups of people within a market – for example, luxury cars aimed at high-income groups.
Growth – increasing sales or market share. In a contracting market, i.e. one where the consumer demand is falling, a firm may aim to keep its total sales the same, while sales in the industry as a whole shrink. This can only be achieved at the expense of competitors’ sales and with the help of a very aggressive marketing policy. In expanding markets, for example, in satellite and cable TV systems, it is possible that all firms in the industry will benefit from rising sales, and so the marketing strategy required need not be so aggressive.
Increasing profitability or cash flow. A marketing campaign may be designed to meet profit, cash flow, or in the case of a charity, fundraising targets. A marketing strategy may involve increasing the price of a product, coupled with heavy advertising designed to re-position the product in the consumer’s mind as being of higher quality or possessing characteristics which somehow justify the new, higher price. Placing the product in the right retail outlets will also help to promote sales and profits.
Optimising customer perception of organisation and/or product range. Marketing to increase consumer awareness and improve the image of an organisation and product is an important objective in competitive and quickly changing markets. A firm may wish to improve the image of its product range, either by changing and ‘improving’ the products, or by simply re-marketing them as being improved or different in some way – for example by re-launching the product with a new trademark or logo. Similarly, a firm can enhance its image by sponsoring sports events, making public donations to charities, or simply by improving customer services and after-sale care.
Managing the effects of change and competition. Market conditions of demand and supply are in a constant state of change due to fluctuations in the economy, changes in the behaviour of competitors, the introduction of new technology, and alterations in government policy. Firms therefore need to continually alter and develop their product ranges to match ever-changing consumer wants and keep pace with the product and marketing developments of rival firms.