17-Marketing #2

Question 1

promotion

Answer 1

communicating with customers to let them know about a product and persuade them to buy it

Question 2

methods of promotion

Answer 2

advertising
sales promotion
public relation
personal selling

Question 3

advertising

Answer 3

paid non-personal communication of info about a product through various media

Question 4

types of advertising

Answer 4

reminder
informative
persuasive
generic
comparative

Question 5

reminder adverts

Answer 5

let customers know a well known product is still around and keeps it in consumer’s mind e.g. coca cola

Question 6

informative advert

Answer 6

provides factual info about a product e.g. sale starts at 10am

Question 7

persuasive advert

Answer 7

convince consumers that they must have a product e.g. lynx effect

Question 8

generic

Answer 8

advertise product for entire industry e.g. buy irish

Question 9

comparative

Answer 9

show how much better in comparison to competitors e.g. lidl and tesco

Question 10

functions of advertising

Answer 10

information
reminds
persuades
competes
increased sale and profits

Question 11

advertising media

Answer 11

different places where a business can place an ad

Question 12

types of advertising media

Answer 12

internet
tv
direct mail
radio
newpaper

Question 13

advantages of internet as advert medium

Answer 13

global audience

social media

Question 14

advantages of radio as advert media

Answer 14

local people-local stations

cost effective

Question 15

disadvantages of newspaper as advert medium

Answer 15

only seen for one day

poor quality images

Question 16

disadvantages of tv as advert medium

Answer 16

skip ads

expensive

Question 17

advantages of newspaper as advert media

Answer 17

re-read (lots of info)

costs less than tv

Question 18

disadvantages of internet as advert media

Answer 18

info can be copied

ignore pop-up ads blocker software

Question 19

disadvantages of radio as advert media

Answer 19

sound only

Question 20

advantages of tv as advert media

Answer 20

see product working

most common media

Question 21

Factors when choosing an advertising medium

Answer 21

media habits of target audience e.g. toys during kids programmes
nature of product e.g. washing powder needs to be seen
message e.g. computer specs very informative
cost

Question 22

Advertising Standards Authority for Ireland

Answer 22

regulate ad. industry
ensure consumers protected from false and misleading ads
voluntary-no legal power
investigate complaints

Question 23

offensive ad

Answer 23

Hunky Dorys

Question 24

misleading ad

Answer 24

penelope cruz loreal

Question 25

Sales promotion

Answer 25

incentives/short term offers that a business gives consumers to encourage them to buy more of a product and sooner

Question 26

types of sales promotion

Answer 26

``` free samples money off vouchers merchandising competitions loyalty cards free gifts ```

Question 27

Money-off vouchers

Answer 27

discount off product to encourage price-conscious consumers to buy e.g. tesco receipt vouchers

Question 28

Free samples

Answer 28

free trial,encourages consumers to try product and hopefully buy in future e.g. Supervalu

Question 29

Free gifts

Answer 29

offer free gift with purchase e.g. happy meal

Question 30

Merchandising

Answer 30

displaying products in attractive and eye catching way

Question 31

Public Relations

Answer 31

efforts of business to create and maintain positive image of business in minds of consumers and build a good relationship with them by obtaining positive publicity

Question 32

Public Relations Officer

Answer 32

help to build a positive image

Question 33

Functions of PR

Answer 33

Attract publicity when launching a new product-PR stunt with the aim of being in newspapers/media e.g. ryanair new route to rome Target certain customers-by sponsoring events that appeal to target market e.g. meteor irish music awards Build image that reflects well-charitable actions e.g. Ronald Mcdonald Defend product with bad publicity-share their side e.g. Dominos

Question 34

Techniques of PR

Answer 34

events news conferences public service activities sponsorship

Question 35

Event (public relations)

Answer 35

hold an event to attract PR e.g. exhibition

Question 36

News conference (public relations)

Answer 36

invite news papers and media when they have a newsworthy announcement e.g. product launch or new jobs

Question 37

Public Service Activities (public relations)

Answer 37

help local community e.g. Tesco for schools and clubs

Question 38

Sponsorship (public relations)

Answer 38

business donates money to a team or venue in return for showing its brand name e.g. aviva stadium

Question 39

Personal selling

Answer 39

business's salespeople meeting with consumers face to face to give them personalised advice specific to their needs and build a relationship with them to get them to buy a product relies on knowledge and expertise e.g. carphone warehouse

Question 40

Evaluation of promotion methods:McDonalds

Answer 40

Public relations:Ronald Mcdonald Children's Charity for Children's Hospital,Crumlin Advertising: slogan 'I'm Lovin It' with Justin Timberlake song Sales Promotion:free gift with Happy Meal

Question 41

Marketing Mix-Place

Answer 41

deciding where the product will be available for purchase and how the product gets from manufacturer to retailer

Question 42

Traditional channel of distribution

Answer 42

producer wholesaler:buys from producer in huge quantities and sell on to retailer in smaller quantities retailer consumer

Question 43

Direct channel of distribution

Answer 43

Producer Consumer e.g. Dell

Question 44

Importance of distribution

Answer 44

Impact on sales,profit margins (more stages,more expensive) and consumer satisfaction

Question 45

Factors when choosing a channel of distribution

Answer 45

Cost-more stages,more expensive Nature of product-heavy,bulky,perishable goods sell direct. Location of customers-small area,direct.Global,use many wholesalers and retailers Ecommerce-sell directly using website Payment-cash flow implications.Retailer may insist 30 days credit

Question 46

Evaluation of Marketing Mix (Red Bull)

Answer 46

Product:energy drink made by Austrian entrepeneur Dietrich Mateschitz.USP-tastes like no other soft drink and benefits consumers energy and concentration. Price:premium pricing strategy. Promotion:events e.g. Red Bull Air Race or cliff diving Place:intensive distribution strategy-available in variety of places.

Question 47

Marketing Plan

Answer 47

written plan that sets out business marketing objectives and the means by which it will achieve these essential part of overall business plan

Question 48

steps in a marketing plan

Answer 48

investigate market select target market research target market develop marketing mix

Question 49

marketing plan:investigating the market

Answer 49

SWOT to find gap in market | e.g. coca cola researh-customers were not buying as many fizzy drinks due to sugar tax-launched coke zero

Question 50

marketing plan:selecting target market

Answer 50

split market into segments and target one or more of these segments e.g. people who like coca cola but are health-conscious

Question 51

marketing plan:research target market

Answer 51

find out exactly what consumers want | e.g. field research showed 50% consumers had no idea coke zero had no sugar

Question 52

marketing plan:develop marketing mix

Answer 52

right product,price and place promote in appealing way e.g.coca cola renamed to coke zero sugar adverts on TV and free samples

Question 53

Advantages of marketing plan

Answer 53

Roadmap Helps control progress Useful to investors