Chapter 17&18

Question 1

Factors of strengths and weaknesses

Answer 1

Customer base
Market share
Pricing
Location 
Promotion 
Advertising

Question 2

Factors of opportunities and threat

Answer 2

Competition
Technology 
Interest rates 
Suppliers merging or closing down 
Price increasing 
New competition

Question 3

Where do we want to go?

And what does is relate to

Answer 3

Involves marketing objectives for long term , medium and short,

Attraction- to attract new costomers

Retention- maximise existing customer relation

Up selling is trying to to make costomers buy expensive products

Cross selling offered to buy complimentary products

Question 4

Marketing plan format

Answer 4

1. Executive summary
2. Introduction and situation analyse
3. Target market and segments
4. Objective
5. Strategies
6. Budget
7. Audit and control procedures

Question 5

Performance indicators

Answer 5

Sales analysis- comparing sales with with objectives

Market share- how well a business is performing to competitors

Marketing expense- keeping an eye on expensives

Profitability analysis- seeing if product sell better in areas rather than other

Question 6

Issues in marketing

Answer 6

Role of technology- it is easy to market and evaluate how well the business is going

Ethical and socially responsible marketing- must not do deceptive stuff, and exaggeration in advertising. Making yourself look good to the public eye

Legal requirements- businesses copying trademarks as they are great value

Question 7

Expansion strategies in marketing?

Need marketing research or need a marketing campaign

Answer 7

Exporting-

Inovation and diversification-

Question 8

What is swat

Answer 8

Strengths
Weaknesses
Opportunities
Threats