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\author{Meg9514}
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  /Title (decsison-making-3-3.pdf)
  /Creator (Cheatography)
  /Author (Meg9514)
  /Subject (decsison making 3.3 Cheat Sheet)
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    \vspace{-2pt}\large{\bf{\textcolor{DarkBackground}{\textrm{decsison making 3.3 Cheat Sheet}}}} \\
    \normalsize{by \textcolor{DarkBackground}{Meg9514} via \textcolor{DarkBackground}{\uline{cheatography.com/34270/cs/10735/}}}
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  \mymulticolumn{2}{p{5.377cm}}{\bf\textcolor{white}{Cheatographer}}  \\
  \vspace{-2pt}Meg9514 \\
  \uline{cheatography.com/meg9514} \\
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  \mymulticolumn{1}{p{5.377cm}}{\bf\textcolor{white}{Cheat Sheet}}  \\
   \vspace{-2pt}Published 2nd February, 2017.\\
   Updated 2nd February, 2017.\\
   Page {\thepage} of \pageref{LastPage}.
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  Measure your website readability!\\
  www.readability-score.com
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\begin{multicols*}{3}

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\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{Marketing}}  \tn
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\mymulticolumn{1}{x{5.377cm}}{Marketing:the process of identifying , anticipating (predicting) and satisfying customer needs and profitability.} \tn 
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\mymulticolumn{1}{x{5.377cm}}{Objectives flow from the mission and vison of the business: {\bf{Mission}}-the overall purpose of a business-{}-\textgreater{}{\bf{Vision}}-the overall aspiration of the business-{}-\textgreater{}{\bf{Aims or goals}}-general statement of waht a busness intends to acheive-{}-\textgreater{}{\bf{Objectives}}-more precise and detailed statements of the aims/goals} \tn 
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\mymulticolumn{1}{x{5.377cm}}{Marketing objcetives are "functional" objectives: {\bf{Mission}}-{}-\textgreater{}{\bf{Corporate/strategic}}-{}-\textgreater{}{\bf{Functional}}-{}-\textgreater{}{\bf{Team}}-{}-\textgreater{}{\bf{Individual}}, the further down the line the detail increases where as the further up the line the strategic approach increases.MArketing objectives need to be cinsitant with and supporte corporate objectives.} \tn 
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\mymulticolumn{1}{x{5.377cm}}{{\bf{Sales volume}}:measures the number of items sold or produced e.g.number of TVs sold.   {\bf{Sales value}}:measures the financial worth of the items sold e.g. £30 million of TVs.} \tn 
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\mymulticolumn{1}{x{5.377cm}}{{\bf{Market size}}:the volumes of sales of a product e.g. the number of items sold or the value of sales of a product e.g. the total revenue from sales.It indicates the potential sales for a firm e.e. the uk car market earns a revenue of over £30 billion a year. Market size is raerly used as a marketing objective as a single company will only ever be part of a market.} \tn 
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\mymulticolumn{1}{x{5.377cm}}{{\bf{Market Growth}}= (Market size in a year - market size in previous year )/Market size in previous year x 100.The following factors influence market growth: {\bf{Economic growth}},{\bf{Nature of the product}},{\bf{Changes in taste}},{\bf{Social changes}} and {\bf{Fashion}}} \tn 
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\mymulticolumn{1}{x{5.377cm}}{{\bf{Sales growth}}=(Sales in a year -sales in previous year/sales in previous year) x 100.} \tn 
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\mymulticolumn{1}{x{5.377cm}}{{\bf{Market share}}= ( sales of one product or brand or company / total sales in the market) x 100.} \tn 
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\mymulticolumn{1}{x{5.377cm}}{{\bf{Brand loyalty}}: A measure of the degree of attatchment taht a customer has for a particular brand or product. High brand loyalty for one product will reduce the likely hood of a consumer switching to another brand.} \tn 
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\mymulticolumn{1}{x{5.377cm}}{Examples of markketing objectives: {\bf{Maintaining or increaseing market share}},{\bf{Developing new products / innovation}},{\bf{Meeting the needs of customers}},{\bf{entering a new market/market positioning}},{\bf{Gaining advantages over competitors}}.} \tn 
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\mymulticolumn{1}{x{5.377cm}}{{\bf{The value of setting marketing objectives}}: Ensure functional activities consistent with corporate objectives,  Provide a focus for marketing decision-making and effort, Provide incentives for marketing team and a measure of success / failure, Establish priorities for marketing resources and effort.} \tn 
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\mymulticolumn{1}{x{5.377cm}}{There are some potential problems with setting marketing objectives; {\bf{Fast changing external environment}} e.g. changes in legislation impacting the whole market;{\bf{Potential conflict between marketing objectives}} e.g. trying to increase market share by cutting prices may damage objectives for brand perception;{\bf{easy to be too ambitious with marketing objective}} e.g. growing market share without putting necessary resources in place to achieve it.} \tn 
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\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{Influences on marketing}}  \tn
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\mymulticolumn{1}{x{5.377cm}}{{\bf{Internal}} influences on marketing objectives: {\bf{corporate objectives}} are the most important internal influence.A marketing objective should not conflict with a corporate objective. {\bf{Finance}} the financial position of the business directly affects the scope and scale or marketing activities.{\bf{Human resources}} for a services business in particular, the quality and capacity of the work force is a key factor in affecting marketing objectives a motivated and well trained workforce can deliver market-leading customer service and productivity to create a competitive marketing advantage.{\bf{Operational issues}} operations has a key role to play in enabling the business to compete on cost and quality.effective capacity management also plays a part in determining whether a business can achieve its revenue objectives.{\bf{Business culture}} e.e. a marketing orientated business is contently looking for way to meet customer needs.A production orientated culture may result in management setting unrealistic or irrelevant marketing objectives} \tn 
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\mymulticolumn{1}{x{5.377cm}}{{\bf{External}} influences on marketing objectives: {\bf{Economic environment}} the key Factor in determining demand for example marketing objectives changed as a result of the recession factors such as exchange rates would also impact objectives concerned with international marketing.{\bf{Competitor actions}} marketing objectives have to take into account the Likely/ possible competitor response for example an objective of increasing market share by definition means that competitive response will not be effective. {\bf{Market Dynamics}} the key market Dynamics are market size growth and segmentation. A market whose growth slows is less likely to support an objective of significant revenue growth or new product development. {\bf{Technological change}}  many markets are affected by rapid technological change, shortening product life cycles and creating opportunities for innovation. {\bf{Social and political change}} changes to legislation may create or prevent marketing opportunities. Change in the structure and attitudes of society also have major implications for many markets.} \tn 
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% That's all folks
\end{multicols*}

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