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Business > 17-Marketing #2 > Flashcards

17-Marketing #2 Flashcards

1
Q

promotion

A

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

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2
Q

methods of promotion

A

advertising
sales promotion
public relation
personal selling

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3
Q

advertising

A

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

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4
Q

types of advertising

A 
reminder
informative
persuasive
generic
comparative
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5
Q

reminder adverts

A

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

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6
Q

informative advert

A

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

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7
Q

persuasive advert

A

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

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8
Q

generic

A

advertise product for entire industry e.g. buy irish

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9
Q

comparative

A

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

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10
Q

functions of advertising

A 
information
reminds
persuades
competes
increased sale and profits
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11
Q

advertising media

A

different places where a business can place an ad

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12
Q

types of advertising media

A 
internet
tv
direct mail
radio
newpaper
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13
Q

advantages of internet as advert medium

A

global audience

social media

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14
Q

advantages of radio as advert media

A

local people-local stations

cost effective

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15
Q

disadvantages of newspaper as advert medium

A

only seen for one day

poor quality images

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16
Q

disadvantages of tv as advert medium

A

skip ads

expensive

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17
Q

advantages of newspaper as advert media

A

re-read (lots of info)

costs less than tv

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18
Q

disadvantages of internet as advert media

A

info can be copied

ignore pop-up ads blocker software

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19
Q

disadvantages of radio as advert media

A

sound only

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20
Q

advantages of tv as advert media

A

see product working

most common media

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21
Q

Factors when choosing an advertising medium

A

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

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22
Q

Advertising Standards Authority for Ireland

A

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

23
Q

offensive ad

A

Hunky Dorys

24
Q

misleading ad

A

penelope cruz loreal

25
Q

Sales promotion

A

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

26
Q

types of sales promotion

A 
free samples
money off vouchers
merchandising
competitions
loyalty cards
free gifts
27
Q

Money-off vouchers

A

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

28
Q

Free samples

A

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

29
Q

Free gifts

A

offer free gift with purchase e.g. happy meal

30
Q

Merchandising

A

displaying products in attractive and eye catching way

31
Q

Public Relations

A

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

32
Q

Public Relations Officer

A

help to build a positive image

33
Q

Functions of PR

A

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

34
Q

Techniques of PR

A

events
news conferences
public service activities
sponsorship

35
Q

Event (public relations)

A

hold an event to attract PR e.g. exhibition

36
Q

News conference (public relations)

A

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

37
Q

Public Service Activities (public relations)

A

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

38
Q

Sponsorship (public relations)

A

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

39
Q

Personal selling

A

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

40
Q

Evaluation of promotion methods:McDonalds

A

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

41
Q

Marketing Mix-Place

A

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

42
Q

Traditional channel of distribution

A

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

43
Q

Direct channel of distribution

A

Producer
Consumer
e.g. Dell

44
Q

Importance of distribution

A

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

45
Q

Factors when choosing a channel of distribution

A

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

46
Q

Evaluation of Marketing Mix (Red Bull)

A

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.

47
Q

Marketing Plan

A

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

48
Q

steps in a marketing plan

A

investigate market
select target market
research target market
develop marketing mix

49
Q

marketing plan:investigating the market

A

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

50
Q

marketing plan:selecting target market

A

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

51
Q

marketing plan:research target market

A

find out exactly what consumers want

e.g. field research showed 50% consumers had no idea coke zero had no sugar

52
Q

marketing plan:develop marketing mix

A

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

53
Q

Advantages of marketing plan

A

Roadmap
Helps control progress
Useful to investors

Business (12 decks)

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