01

Unit 5:Marketing and market reserch

TASK 1: HOW
MARKETING WORKS
 KEY TERMINOLOGY 02

MARKET-is a place where goods/services are sold .

MARKETING-promotes the goods/services by advertising, selling, and fulfilling the needs of the customers.

MARKETING OBJECTIVES-goal set up by a business when promoting their products to potential customers that should be
accomplished within a given time.

MARKETING ANALYSIS-is a qualitative and quantitative assessment of a market-checks market share, market segment,
competition, customer buying pattern etc,

MARKETING STRATEGY-marketing goals and objectives combined into a plan.

MARKETING MIX-price, product, promotion, place-used to promote its product.

MARKETING CAMPAIGN-promotes product though different types of media, such as radio, television, magazine, and
online platforms.
 P1: EXPLAIN THE ROLE OF THE MARKETING
FUNCTION IN BUSINESS 02

PURPOSE OF THE MARKETING FUNCTION

OPERATIONS:
New product development-is associated with the marketing department as they have to research if there is a market for the
product, identify the features that the market will need and will test the product to see if it's ready.
Research and Development-refers to investigation or innovation; the results of which are new or improved materials which
needs to be tested by the marketing department with potential customers.
Quality Control-the quality of the goods/service is very important to the business in order for customers to purchase their
products and to increase their reputation.
FINANCE:
The finance department ensures which is the most appropriate source of finance for each decision 'Office lunches' makes and
what has a better impact on them. They also identify when the cash flow is unbalanced and give suggestions to help 'Office
lunches' balance their cash flow and make a strategic plan in order to not be in this position again.
HUMAN RESOURCE:
Recruitment-the process of finding people who is appropriate for the given role-includes advertising jobs, job descriptions,
selecting people for interview.
Training-Both new and existing employees will need to take training in order to help them to develop their strength and
improve on their skills.
Wages and Salaries-this process needs managing as they need to check each job's worth benefits, complaints etc.
MARKETING:
Researching the market-identifying market opportunities, inspecting the needs of customers from existing to potential, testing
the product, understanding the target market etc.
Marketing Mix-the marketing department will find the price, the promotion, the location, and the features of the product.
 02
HOW DOES "OFFICE LUNCHES" SET MARKETING AIMS AND OBJECTIVES LINKED TO STRATEGIC
OBJECTIVES
Office lunches wants to enlarge their output on her daily orders on a day-to-day basis in order to increase the number of her
customer loyalty in which they will also hopefully recommend to other offices.
BUSINESS OBJECTIVES
This is the first process in marketing where 'Office lunches' needs to discuss their aims and objectives within their product
and what they want to achieve which means that they will be able to focus on where it wants to be in the future, which then
can be used to be observed and move on to the next process, marketing analysis.
MARKETING ANALYSIS
The next process is to research finding out who their customers are and what their needs are in order to make the 'Office
lunches' product successful and show their investors that they know their market and that it is large enough to build a
sustainable business. In this process, Brentley need to research their target market, competition, barriers to entry, and
demographics and segmentation.
MARKETING STRATEGY
'Office lunches' will now need to plan a marketing strategy and decide which approach is more suitable for them and will fulfil
their objectives. They could focus on their mass markets, making sure that their product can be reached by many customers in
a wide area. Another way is using market segmentation, so the business will divide the market (existing markets and potential
customers) into groups by factors like age, gender etc. Or you can sell your product to a niche market where you are only
targeting a single segment of the market which is for businesses that wants to focus on something specific and direct.
MARKETING MIX
This is very important for 'Office lunches' marketing of their products or services. This will help Brentley identify where their
products/services will be sold and how much it will be; businesses need to think carefully with each element of the marketing
mix because if one goes wrong, it will lead to more problems which can affect the business. 
 P2: DESCRIBE HOW CARRYING OUT MARKET ANALYSIS CAN BENEFIT A
BUSINESS
How does “Office Lunches” use market analysis talk about the following:
1. To identify market structure (e.g. number of firms, market share, market size, market volume, market value)
With market analysis, office lunches will be able to identify their market structure, using demographics and segmentation, target market,
market needs and knowing your competition will help to know their market really well and will able to recognize how big their market is,
who their target is and so on.
2. To identify potential market growth opportunities/downsizing
Using market analysis, office lunches can identify potential market growth opportunities using the demographics and segmentation as all the
companies will be within the delivery range. This will be easy to identify the market outside your business and since there is only one person
in charge of the business, you wouldn't take the size of the business.
3. To recognise competitors (e.g. competitor analysis, market mapping)
With market analysis, office lunches will be able to find out their competitor's strengths and weaknesses which is an advantage as office
lunches could use this in its own market positioning. for example, a strength from their competitors could be they sell healthy snacks which
are one thing 'office lunch' could use as it is vital for business people to stay healthy and energetic throughout the day.
4. To carry out market segmentation
With market analysis, 'office lunches' will be able to recognise their customers in terms of whom their business is attracting to. In this case,
'office lunches' should attract business people that work in offices. 'Office lunches' would also find out their geographical segmentation as they
need to place their business in cities in an area where there are a lot of companies which is beneficial to the business knowing how busy it
could get during lunch break to get food and so 'Office lunches' would be very useful. Using market analysis, they could find out the
similarities between their customers and what their preferred food are, for example, elderly people purchase soft foods more than young
people.

Market segmentation benefits 'office lunches' as it will help them to identify the specific demands of particular customer demographics and
use this knowledge to develop their foods that meet the target customers' demands. It assists in gaining a competitive advantage in the market
by breaking down different customer groups and focusing on specific products to satisfy their needs. Other significant advantages of market
segmentation are that it simplifies things for the business by giving them clearness on various customer segments and understanding what
they expect.

04
 P3*: EXPLAIN HOW BUSINESSES MEASURE THE IMPACT OF THEIR MARKETING, USING AT LEAST TWO CONTRASTING
BUSINESSES
M1: ANALYSE THE IMPACT OF A PARTICULAR MARKETING CAMPAIGN RUN BY A SPECIFIC BUSINESS
One business that is similar to 'office lunches' is City Pantry. Consumers can order individually-boxed lunches, breakfasts, and buffet platters. They provide a meal that's appropriate for
every diet, appetite and budget. It's an easy access as consumers just have easily order online through the website. City Pantry can schedule your orders and prepare all your food needs in
one place. Then they give suggestion of food that fits your budget and preferences and prepare the meal plan. They also include bespoke buffet catering or restaurant pop-ups, they offer a
range of event and catering options. Any budget, diet or preference, City Pantry can assist to make suggestions for your party or event. This shows the dedication and commitment build
into this business as they ensure that every customers of theirs is provided with food that is their preferences which leads to a great customer service. Selling food from a variety of stores
help build customer satisfaction as they have a range of different culture food to try, perfectly suitable for every consumer. Another business that is similar to 'Office lunches' is LeanBox
who provides healthy and tasty breakfast, lunch, dinner and snacks 24 hours a day, and businesses have to pay a service to LeanBox to stock their machines. They have a variety of cuisines
such as, Asian, Indian, Italian, Mexican, and American. They work closely with Cedars Foods, Polar Seltzer, York Street Market etc. LeanBox also offer a variety of options to fit any
dietary need, from Gluten Free to Keto to Non GMO, The whole process is very easy as you just need to download the LeanBox app, click the LeanBox touchscreen, present your code,
take your food, and complete the checkout. This is very easily accessible with simple steps and is quick which is very useful for employers as they don't need to waste time getting their
food. LeanBox regularly delivers their fresh meals, snacks and beverages to an internet-connected LeanBox kiosk located in your office. This is very beneficial for offices as they don't need
to worry about receiving their food when LeanBox will be taking care of it, showing the determination from the business and how much they really care for their customers making sure
they receive the best customer service. They also provide your office with flavoured sparkling and still water while still being environmentally conscious. This shows a real interest to
customers as more people are becoming more aware of environmental issues and wants to resolve it so this is a major benefit for LeanBox and would attract more offices to use their
service. Sales are very important within the business as it determines it's success, which is why LeanBox has a good marketing as they are fast and efficient, ideal for offices who are busy
and has no time to get food. This is something 'office Lunches' should take into account as they need to think about their services and making sure their customers are always provided
with their food at the expected time and not delaying anything. LeanBox have an idea on what the employees are eating and drinking so they use this to modify the program established on
what is working without having the employees to do anything. Also every employees will have their own LeanBoxer on call to answer any questions or issues they have. LeanBox has
carefully thought about their future especially with the outbreak of Covid-19 and has changed their workplace culture in utilising their services as a safe alternative to the cafe. All of the
LeanBox products are prepared in USDA facilities and refrigerated throughout their entire journey and unlike other cafeteria, LeanBox foods are each individually packed and sealed.
They have inserted NanoSeptic touch screens and allowing for completely touchless checkout experiences. If Elizabeth Brentley uses this suggestion in her business 'Office Lunches' , it
would change her marketing in a positive way and think ahead of her business in order to be well-prepared and show her commitment towards her business and her dedication. However
one negative impact is it is expensive to include all of this so 'Office Lunches' really needs to consider what is more important for them. Income could be used to measure the success of
marketing as increasing their sales revenue will be shown in their marketing and present how well their products are selling. The sales revenue shown in LeanBox had a very productive
start generating from $356,624 in sales (USD). They also allow their customers to contact sales to help LeanBox provide the best food options for your office. 'Office Lunches' should use
this in order to find out what their customers prefers and their likes and dislikes. However, this could waste a lot of time but will have a good impact at the end providing what their
customers wants. To receive customer feedback, Leanbox uses NPS; a simple way to receive feedback. Customers are questioned with 1 to 2 questions. One question asks for the quality of
their experience and the second asks if they’ll recommend (product/company) to a potential customer. This is a quick way and LeanBox can get started on what to improve. Using NPS
brings transparency to the business and are open to any concerns customers has and will find a way to solve it. It keeps your company honest and builds confidence as the positive feedback
will help LeanBox be more motivated and make the business proud. Brentley should take this advice to find out what her business is doing well in and what they're lacking in as customer's
feedback is very important and should take everything into consideration making sure their customers get what they want. Overall, LeanBox really take in consideration of everything in
their business, from their sales to the customer feedback which shows how dedicated LeanBox are being the best they could be.

03