2.2 making marketing decisions

Question 1

what is differentiation

Answer 1

making your products disinctive in the market

Question 2

Name the tree elemnts of the design mix

Answer 2

Function
Cost
Aesthetics

Question 3

what is the purpose of function

Answer 3

fit for purpose, unique features

Question 4

what is the purpose of the cost

Answer 4

low manufacturing costs

Question 5

what is the purpose of aesthetics

Answer 5

appearance, attractive and distinctive

Question 6

What is research and development

Answer 6

first stage, develop an idea

Question 7

what is the introduction

Answer 7

product is lunched and put on sale

advertising and sales promotion

Question 8

what is growth

Answer 8

demand increases until product is astablished

Question 9

what is maturity

Answer 9

demand reaches peak

less promotion but the same advertising
widely avaliable
market becomes saturated

Question 10

what is decline

Answer 10

demand starts to fall

Question 11

what is an extention stratige

Answer 11

extend product life

Question 12

how does tech influence price

Answer 12

if expensive machinary need to increase price

in the long term will save money

Question 13

how does methods of production influence price

Answer 13

flow has the advantage of econimies of sale so product is cheaper

Question 14

how does product life cycles influennce price

Answer 14

intro stage charge high or low to attract
maturity stage price in line with competitors
decline reduce price

Question 15

how does competition influence price

Answer 15

competitive needs to look at competitors
if price too high customer choose competitor
too low customer query quality

Question 16

how does market segments affect price

Answer 16

product amied at high income can have higher price

Question 17

how do cost of raw materials influence price

Answer 17

high quality are expensive

Question 18

what is pricing penetration

Answer 18

firm cahrges low price

Question 19

what is loss leader pricing

Answer 19

product is set below cost

Question 20

what is price skimming

Answer 20

charge a high price
works for astablished
cove RandD

Question 21

what is competitive pricing

Answer 21

charge simialr to competitors

Question 22

what is cost plus pricing

Answer 22

total cost of making product then adding on how much profit you want

Question 23

what is branding

Answer 23

the immpression that customers have of the firm on products sold by a firm

Question 24

what is advertising

Answer 24

any message that a firm pays for which promotes the firm

Question 25

newspaper ads and negs

Answer 25

reach market segment
promote temerary

poor print quality
not many read them

Question 26

magazine ads and negs

Answer 26

amied at particular market
better quality

pricier

Question 27

poster ads and negs

Answer 27

placed near target market
stay in place for a long time

short message

Question 28

leaflet ads and negs

Answer 28

cheap
target

see them as junk

Question 29

television ads and negs

Answer 29

wide audience
long message

expensive

Question 30

internet ads and negs

Answer 30

any time
large audience

too many

Question 31

what is sponsership

Answer 31

giving money to an organisation in return that their name is displayed

Question 32

ads of sponsership

Answer 32

encourge new customers

boost sales

Question 33

dis of sponsership

Answer 33

relctant to buy with no sale

might not be suitable

Question 34

what is the use of social media

Answer 34

advertise products and improve brand image

Question 35

waht is the use of search history

Answer 35

create target advertising

Question 36

what is the use of viral advertising

Answer 36

adverts are shared and viewed by many