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business studies > 2 Role of marketing > Flashcards

2 Role of marketing Flashcards

1
Q

what is marketing about

A

finding out what customers need and showing how business fulfills that need

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2
Q

what is the objective

A

to increase sales

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3
Q

how is the objective of increasing sales met (2)

A

identifying and understanding cutomers
informing customers
increasing sales

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4
Q

what is market research

A

collecting data about customers habits to help make decisions about marketing

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5
Q

why do you need to understand customers

A

to understand who to market to eg male or female, age group

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6
Q

how are customers views collected

A

market research

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7
Q

how do businesses inform customers and what do they need to consider

A

advertising via radio tv social media need to think about the cost of this
leaflets cheaper better for more local businesses

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8
Q

how do businesses increase sales (6)

A 
advertising to raise awareness
introduce a new model to appeal to more customers
increase range of products 
reduce price 
sell in a different place
sell by a different method
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9
Q

what is a target market

A

who the product is marketed at

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10
Q

why is it important to understand target market

A

help businesses to aim products at different groups

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11
Q

why is market research important

A

helps business be if there is demand for their product

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12
Q

what are the 2 categories of market research

A

primary and secondary research

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13
Q

what is primary research

A

field research that collects new information

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14
Q

what is secondary research

A

desk research that collects information already collected by an organisation

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15
Q

list methods of primary research (4)

A

questionnaire, interview, trials and focus groups

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16
Q

how do questionnaires get to the public

A

post or online

17
Q

what are the advantages of questionnaire

A

cheap easy to target a particular group

18
Q

what are the disadvantages of questionnaire

A

difficult to predict how many will be completed and public may not understand the questions

19
Q

how are interviews conducted

A

customers asked questions and the interviewer fills in the answers - can be over the phone

20
Q

what are the advantages of inteview

A

interviewer can explain questions and easily target customers

21
Q

what are the disadvantages of interview

A

expensive, customers feel uncomfortable if stopped

22
Q

what are trials

A

product sold for a short amount of time to see if customers like it

23
Q

what are the advantages of trials

A

save money if not liked

24
Q

what are the disadvantages of trials

A

costly

25
Q

what is census data

A

every person gives personal info every 10 years

26
Q

how might a census be useful

A

for future planning for a business identify how many people will be in the target in years to come eg nightclub

27
Q

what is internal data

A

business has own data on past sales and profits

28
Q

how do news papers and magazines help with market reseach

A

they are full of information on trends and fashions

29
Q

what is a focus groups

A

a small group carefully selected to represent the target market

30
Q

what are the advantages of target group

A

data is usually accurate

31
Q

what are the disadvantages of target group

A

expensive

32
Q

list types of secondary data

A

census data, websites, internal data, newspapers magazines

33
Q

what are the advantages of secondary data

A

it has already been collected so cheaper than primary

34
Q

what are the disadvantages of secondary data

A

might not be the exact information needed might not be up to date or in a form easy to analyse

35
Q

what is qualative data

A

collected when opinions are needed

36
Q

what is quantitive data

A

related to facts and numbers

business studies (28 decks)

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