2.1 The Role Of Marketing

Question 1

What is Marketing?

Answer 1

Finding the needs of customers and demonstrating how a business fufils those needs in order to increase sales.

Question 2

What is Market Research?

Answer 2

The collection of data to help business decisions.

Question 3

How can Advertising increase sales?

Answer 3

Advertising the product or service can raise awareness of what is on offer.

Question 4

How can a New Model increase sales?

Answer 4

Introducing a new model will appeal to more customers, creating a larger target market - the diversity of the model can appeal to different groups of customers.

Question 5

How can a Range Of Products increase sales?

Answer 5

Increasing the range of products or services available can create a larger target market, as there is more for a customer to buy.

Question 6

How can Reducing The Price increase sales?

Answer 6

The product is now aimed at a different target market, if the product has a lower price compared to competitors then customers are more likely to buy that product or service.

Question 7

How can Selling In Different Countries increase sales?

Answer 7

This creates a wider range of customers, you are not limited to one demographic, there are different exchange rates and tax rates. However you have to pay for exporting which will decrease profits.

Question 8

How can Different Methods Of Selling increase sales?

Answer 8

By using online or digital distributing, more customers can access your product than if it was just possible to buy instore.