Marketing
Marketing identifies customer needs and develops, communicates and delivers an offering intended to satisfy them while meeting organisational objectives. It includes research, segmentation, positioning, the marketing mix and continuing assessment of customer relationships and results. Selling and promotion are parts of marketing, rather than its entire scope. A marketing plan should support the organisation’s strategy and coordinate with finance, operations and other functions.
Worked example
A business researches why customers abandon orders, selects a target segment, improves delivery options and explains the offer through suitable channels. It measures repeat purchases and margin rather than judging success only by advertising reach.
Common mistake
Do not reduce marketing to advertising or assume satisfying every request is commercially sensible. The organisation must choose customers, design a viable offer and consider costs and longer-term relationships.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | BT | Direct | September 2026–June 2027 |
| FIA | FBT | Direct | September 2026–June 2027 |