BUSMAN5

Question 1

MARKET

Answer 1

n. of all actual and potential buyers of a product

Question 2

marketing plan

Answer 2

doc that lists activities and aimed at achieving particular marketing outcomes

Question 3

mrketing

Answer 3

system of interacting activities designed to plan,price,promote and distribute products to present n potential customers

Question 4

customer base

Answer 4

groups of customers who might be expected to purchase a bus g&s

Question 5

benefits of est customer base

Answer 5

improved marketability of bus resultng in higher lvels of sales n increased loyalty

Question 6

costs of customer base

Answer 6

financial costs (market research), time consuming (considering external factors)

Question 7

marketing n bus objectives

Answer 7

increase value n volume of sales, market share, expand size of bus

Question 8

produc mix

Answer 8

total range of products offered by a bus

Question 9

customer service

Answer 9

responding to needs & problems Of the customer

Question 10

Monitor markeing adjectives :

Answer 10

Est marketing plan Monitor performance Evaluate performance
take corrective action

Question 11

performance indicators measures:

Answer 11

sales analysis, market share analysis, markeing profitability analysis

Question 12

sales analysis

Answer 12

uses sales data to evaluate current performance & effectiveness of markeling mix

Question 13

Marketing profitabilty analysis:

Answer 13

method used to break down total marketing costs into specific marketing activilies like ads, transport, administration

Question 14

brand identity

Answer 14

name, term, design, symbol that identifies specific products and dsitinguishes it from its competitors

Question 15

internal env

Answer 15

consists of pple working within a bus including owners n managers, employees, culture n policies

Question 16

external oporating env

Answer 16

customers, suppliers- providers of raw matierials n products depend on success of bus, compeitiors - develope uniqu market plan

Question 17

external macro env

Answer 17

bus plan must take into account of EME in which the potential cystmers are likely yo be found, bus has little to no cotnrol

Question 18

external macro env - economi force

Answer 18

periods of strong economic growth can be favourable times to est bus or expand customer bse

Question 19

external macro env - legal force

Answer 19

bus are subject to a numb of legal req like c&c act 2010

Question 20

external macro env: technological forces

Answer 20

impacts market plan by making use of available tech to promote the bus (webs,socials,apps), processing payments remotley via creditcards,paywave,eftops

Question 21

external macro env - social force

Answer 21

tapping into social trends, ebing aware of demo of bus located

Question 22

3 steps of marketing research process

Answer 22

1. determining info needs: what exactly needs to be measured or to find out about its target market or customer base
2. collecting data from prim or sec source
3. analysis and intepretation: conclusions needs to be drawn out

Question 23

marketing data

Answer 23

consists of info usually facts and figures

Question 24

primary source and methods

Answer 24

collected from og sources

methods: observation, surveys, experiementations

Question 25

secondary source
methods

Answer 25

info that has already been collected
types: internaal - collect in bus external:collected outside of bus