Business Study Notes

9.3 HSC topic 3: Marketing

20% of indicative time

The focus of this topic is to develop an understanding of the nature and role of marketing in a business and the main elements involved in the development and implementation of successful marketing strategies.

Outcomes

The student:

H1.2 critically analyses the role of business in Australia

H2.1 describes and analyses business functions and operations and their impact on business success

H3.2 evaluates the effectiveness of management in the organisation and operations of business and its responsiveness to change

H4.1 critically analyses the social and ethical responsibilities of management

H5.1 selects, organises and evaluates information and sources for usefulness and reliability

H5.2 plans and conducts an investigation into business to present the findings in an appropriate business format

H5.3 communicates business information, ideas and issues, using relevant business terminology and concepts in appropriate forms.

Content

Students learn to:

Use existing business case studies to investigate and communicate ideas and issues related to marketing. The focus of these case studies will be to:

• analyse and evaluate marketing strategies for a product or service

• analyse the marketing plan of a business

• construct a marketing plan for a single product/service (real or imaginary).

Students learn about:

Nature and role of markets and marketing

• the role of marketing in the firm and in society

• types of markets — resource, industrial, intermediate, consumer, mass, niche

• production–selling–marketing orientation

• the marketing concept — customer orientation, relationship marketing

• marketing planning process

Elements of a marketing plan

• situational analysis including SWOT and product life cycle

• establishing market objectives

• identifying target market

• developing marketing strategies

• implementation, monitoring and controlling — developing a financial...