Retail Marketing and Promotion - Overview
This resource is designed for the BTEC National award in Retail. BTEC Qualifications have been developed to provide the knowledge, understanding and skills of specialist work-related areas. This qualification focuses on providing education and training for students who either work in or are considering a career in the retail trade.
This is the fifth in a series of six assignments written specifically for the BTEC Retail qualification by a practising teacher of the course. There are three core units and seven specialist units that make up the structure of the course.
Source: stock.xchng
The unit is assessed by means of an assignment that is graded Pass, Merit or Distinction. Details of the criteria can be found on the Edexcel web site.(http://www.edexcel.org.uk/VirtualContent/102509/BN018420_NA_in_Retail_L3_Issue_2.pdf)
Overview:
Any retail business relies on customers for its survival. To encourage customers to use a retail outlet the business has to know who its potential customers might be and what they want. Understanding, identifying, anticipating and satisfying customer needs is at the heart of marketing. Promotion deals with how retail organizations make customers aware of the products they have for sale and where they can be bought. This unit covers these two key areas of retail business.
On completion of this unit you should understand:
- the strategic marketing objectives of retail businesses
- the market research techniques used by retail businesses
- the position of promotion within the marketing mix in a retail environment
- how a retail business can evaluate the success of a promotional campaign
(Source: Edexcel)
When you are working through each task on the next page, make sure you constantly refer back to the grading grid below; this gives more detail on what you have to demonstrate to achieve the different grades for this unit.
Source: Edexcel. [PDF file]
When you are working through each task on the next page, make sure you constantly refer back to the grading grid below; this gives more detail on what you have to demonstrate to achieve the different grades for this unit.
Assignment
In this unit, you will gain an understanding about the role of marketing and promotion in retail business. It will cover the necessity to establish clear marketing objectives at the outset and to then conduct appropriate research to find out customer needs. This allows the business to be able to decide on the relevant importance of the elements of the marketing mix.
You will learn the basics about promotional campaigns and how to evaluate a promotional campaign – has the campaign worked? Has it met the objectives established at the outset? Are consumers more aware of the product or the retailer as a result?