Chapter 3 - Introduction to marketing

Question 1

what is marketing

Answer 1

marketing if the main purpose of the business to meet the needs and wants of customers.

Question 2

how to businesses gather information

Answer 2

they do marketing activities

Question 3

What are the 4 Ps

Answer 3

1. place
2. product
3. promotion
4. price

Question 4

customers with the same needs would want to be grouped. how are they grouped?

Answer 4

Businesses use BIG GOALS

Question 5

what are the group of customers the business choose to serve is known as?

Answer 5

the target market / target audience

Question 6

how do businesses collect feedback in order to understand the customer’s needs and wants

Answer 6

Businesses do market surveys

Question 7

what are the 4 survey methods

Answer 7

1. postal
2. personal
3. telephone
4. online survey

Question 8

what are the five steps in a market survey

Answer 8

1. Decide on the objectives on the market survey
2. choose a method to conduct the survey
3. design the survey / questionaire
4. conduct the survey
5. analyse the data

Question 9

what is a personal survey

Answer 9

• this method involves face to face interaction. This can happen in the respondent’s homes , shopping centers or in any public places.
• the interviewer must speak clearly explain the objective of the survey and they must also be patient as the respondent may not understand

Question 10

what are the advantages of using the personal survey method

Answer 10

• faster replies
• the person conducting the survey will be able to see the respondents reaction and behaviour when the survey is conducted

Question 11

what are the disadvantages of using the personal survey method

Answer 11

1. the respondent’s might ignore the interviewer

2. it is expensive and time-consuming

Question 12

what is the telephone method

Answer 12

it is a method where it is fully automated instead of talking to the respondent’s face to face , they will call them instead and it is a preferred method as a lot of people has mobile phones these days

Question 13

what are the advantages of using the telephone method

Answer 13

1. it is less time consuming

2. they can get fast replies and feedback

Question 14

what are the disadvantages of using the telephone method

Answer 14

1. people may ignore or / decline the call

2. they might think that it is a scam

Question 15

what is the postal survey method

Answer 15

this method is when the survey is sent to people’s homes.

Question 16

what is the advantage of using this method ?

Answer 16

1. the business can reach out to a large group of people.

2. can get faster replies

Question 17

what are the disadvantages of using this method

Answer 17

1. people may throw it away

2. they may not get fast replies

Question 18

what is the online survey

Answer 18

this is a method where the business sends the online survey to people to their mobile phones as many people have phones these days .

Question 19

what are the advantages of using the online survey method

Answer 19

1. cheap

2. it is a fast process

Question 20

what are the disadvantages of using the online survey method

Answer 20

1. the responds may not be be truthful

2. the business may not know who wrote those responses as they have the ability to leave their name anonymous

Question 21

what are the steps when conducting the personal survey

Answer 21

1. approach a potential respondent
2. introduce yourself
3. explain to them the objective of using the survey
4. ask if they are willing to take part in the survey

• if the respondent says yes , read the questions , record the replies and say thank you for his/her time
• if they said no , smile and say thank you for his/ her time