Marketing, Competition And The Customer: The Role Of Marketing (Copy)
Cheat Sheet: 3.1.1 The Role of Marketing
Core Roles of Marketing
| Role | Explanation | Example | Quick Note |
|---|---|---|---|
| Identifying Customer Needs | Researching what customers want in terms of price, quality, service | Surveys before launching new phone | First step to successful product |
| Satisfying Customer Needs | Producing & delivering goods/services that meet needs | Restaurant offering vegetarian options | Ensures sales and repeat purchase |
| Maintaining Customer Loyalty | Encouraging customers to keep buying | Loyalty cards in supermarkets | Retention cheaper than new customers |
| Building Customer Relationships | Creating long-term connection with customers | Netflix personalised recommendations | Improves trust & brand value |
Written and Compiled By Sir Hunain Zia, World Record Holder With 154 Total A Grades, 7 Distinctions and 11 World Records For Educate A Change O Level And IGCSE Business Studies Full Scale Course
Why Marketing is Important
- Matches products with customer demand
- Builds brand loyalty → repeat sales
- Helps businesses stay competitive
- Drives profitability & growth
Examples in Practice
| Business | Action | Marketing Role |
|---|---|---|
| Apple | Market research before new iPhone launch | Identify needs |
| McDonald’s | Introducing local menu items | Satisfy needs |
| Starbucks | Rewards app with free drinks | Maintain loyalty |
| Amazon | Personalised recommendations | Build relationships |
Written and Compiled By Sir Hunain Zia, World Record Holder With 154 Total A Grades, 7 Distinctions and 11 World Records For Educate A Change O Level And IGCSE Business Studies Full Scale Course
Quick Revision Bullets
- Marketing = connecting business with customers
- 4 Roles = identify needs, satisfy needs, maintain loyalty, build relationships
- Importance = customer focus → repeat sales + competitiveness
- Customer loyalty > cheaper than winning new customers
Written and Compiled By Sir Hunain Zia, World Record Holder With 154 Total A Grades, 7 Distinctions and 11 World Records For Educate A Change O Level And IGCSE Business Studies Full Scale Course