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

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Submitted By jakewiggins1
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Pages 19
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 marketing techniques are; River island and McDonalds.

River Island
Marketing Objectives
Organisational Aims and Objectives- As quoted by the official river island website “To bring new and original fashion to you, with great design at the heart of everything we create. Our customers can rely on us for great going-out looks and occasion wear, amazing denim and fabulous bags and shoes. We

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