4.2 Marketing planning

Question 1

The elements of a marketing plan

Answer 1

The marketing objective
The marketing budget
Segmentation and the target market
Market research
Marketing strategies
Control tools

Question 2

Market segmentation

Answer 2

Market segmentation refers to the categorising of customers into groups with shared characteristics.

Question 3

Market research

Answer 3

Market research can be defined as gathering information about consumers’ needs, tastes, habits and preferences to aid marketing decisions.

Question 4

Marketing strategies

Answer 4

Marketing strategies are long-term actions that aim to achieve the marketing objective.

Question 5

Geographic segmentation

Answer 5

Geographic segmentation involves dividing consumers according to their location.

Question 6

Demographic segmentation

Answer 6

Demographic segmentation involves dividing consumers according to characteristics such as age, gender and occupation.

Question 7

Psychographic segmentation

Answer 7

Psychographic segmentation divides the population according to lifestyle and personal interests.

Question 8

Below-the-line promotion

Answer 8

Below-the-line promotion describes promotional techniques that tend to reach customers more directly and that are more within the organisation’s control. These tend to be one-to-one marketing activities, with the use of pamphlets and samples, for example.

Question 9

Above-the-line promotion

Answer 9

Above-the-line promotional activities are those aiming to reach large audiences, and will feature on television, in magazines, on the internet and on radio.

Question 10

Strategic groups

Answer 10

Strategic groups are companies that are very similar and target the same consumers.

Question 11

A unique selling point (USP)

Answer 11

A unique selling point (USP) is a feature of a product that makes the product stand out from its competition.