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Enterprise IGCSE > Chapter 9 - Marketing > Flashcards

Chapter 9 - Marketing Flashcards

1
Q

Define marketing

A

anticipating, identifying and satisfying customer needs

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2
Q

Define identifying

A

finding out what customers want and need through market research

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3
Q

Define anticipating

A

costumer demands can change, so it is important to look ahead at the ‘next big thing’. this allows an enterprise to respond more quickly to changing tastes and fashion

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4
Q

Define satisfying

A

providing products where and when they are wanted and at a price costumers are willing to pay

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5
Q

Why will an enterprise use marketing?

A
  • raise customer awareness
  • increase or maintain brand loyalty
  • improve image of company
  • increase or defend sales, market share, or profit
  • help enterprise compete
  • help enterprise reach its target market
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6
Q

How will marketing help customers of an enteprise?

A
  • provides information about the enterprise to customers
  • helps customers make informed decisions
  • raises awareness of products to customers
  • helps enterprise keep customer needs in mind
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7
Q

Define customer retention

A

measuring how loyal customers are to an enterprise (and the likelyhood of them buying its products or services again)

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8
Q

What are some reasons to keep returning customer?

A
  • marketing is expensive
  • stable income makes cash flow planning easier
  • helps establish snd maintain brand loyalty
  • loyal customers tend to spend more per visit
  • good word-of-mouth advertising
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9
Q

Define customer satisfaction

A

the extent to which customers are pleased with the products and services provided by an enterprise

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10
Q

What are some methods to measure customer satisfaction?

A
  • number of sales
  • number of complains and returned products
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11
Q

What are some ways to receive feedback from customers about an enterprise?

A
  • questionnaires and surveys
  • suggestion boxes and comment cards
  • mystery shopper programmes
  • focus groups
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12
Q

Explain focus groups

A

some enterprises want to explore the needs, thoughts and opinions of customers. talking to the same or similar group of people over a long period of time allows an enterprise to build up a fuller impression of what its customers think

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13
Q

What are some ways of retaining customers?

A
  • offering god or improved quality products
  • offering a new or wider range of products and designs
  • offering good customer service by giving personal attention to the needs of customers by training employees to be helpful and knowledgeable
  • providing after-sales services and support
  • resolving complaints quickly and effectively
  • providing detailed information about products
  • communicating regularly with customers
  • rewarding loyalty
  • asking for feedback
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14
Q

Define justify

A

support a case with evidence / argument

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15
Q

What are the 2 types of advertisement?

A

informative and persuasive

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16
Q

Name some marketing/advertising methods

A
  • leaflets / flyers
  • posters and billboards
  • online communication and social media
  • sponsorship
  • newspapers
  • television
  • radio
  • cinema
  • magazines
  • newsletters
  • word of mouth
  • announcements
17
Q

Give advantages and disadvantages for leaflets and flyers as a marketing method

A

a:
- simple, easy, cheap to produce
- can be kept for future reference
d:
- often seen as junk so thrown away or ignored
- pollution issue caused by litter

18
Q

Give advantages and disadvantages for posters and billboards as a marketing method

A

a:
- good visual impact
- can be seen numerous times as people pass
- can target people in a given location
d:
- easy to miss as only seen for a few seconds as people pass
- no detailed information
- can be easily damaged

19
Q

Give advantages and disadvantages for online communication and social media as a marketing method

A

a:
- can have 2-way communication with customers
- can be accessed in most countries so larger potential audience
- sites easy to update and maintain
d:
- people must have internet access to use
- easy to ignore/block out adverts
- can be easy to miss especially as large number of sites and platforms exist

20
Q

Give advantages and disadvantages for sponsorship as a marketing method

A

a:
- association with another party can increase awareness amongst target market
d:
- negative publicity can affect both parties
- could be expensive

21
Q

Give advantages and disadvantages for newspapers as a marketing method

A

a:
- can reach large numbers of people at the same time
- can be kept for future reference
d:
- can be expensive depending on size and color
- not everyone reads newspapers

22
Q

Give advantages and disadvantages for television as a marketing method

A

a:
- can reach large numbers of people
- by selecting certain times, programmers can target audiences
- color, sound, and motion helps attract attention
d:
- expensive
- cannot change message easily
- easy to ignore

23
Q

Give advantages and disadvantages for radio as a marketing method

A

a:
- can be used to target specific audiences or areas
- cheaper than tv
d:
- only have sound to attract attention
- advert has to be remembered as there is no document to refer back to

24
Q

Give advantages and disadvantages for cinema as a marketing method

A

a:
- uses sound, color and motion to create impact
- potential customers can be targetted by film shown
d:
- target market is likely to be small
- people may only see the advert once
- high cost to produce and show advert

25
Q

Give advantages and disadvantages for magazines as a marketing method

A

a:
- can be used to target a local or national, specialist audience
d:
- can be expensive based on size and color of advert

26
Q

Give advantages and disadvantages for newsletters as a marketing method

A

a:
- can be used to provide regular updates to customers about its products
- can be posted to individuals, delivered to a whole area, or placed for people to collect
d:
- customers may be unwilling to provide contact details
- target market may not read newsletters
- time and cost to produce on a regular basis

27
Q

Give advantages and disadvantages for word of mouth as a marketing method

A

a:
- free, personal, and honest feedback
d:
- no control over what costumers say

28
Q

Give advantages and disadvantages for announcements as a marketing method

A

a:
- simple to arrange
- can target people in a given location
d:
- target market is likely to be small
- not everyone listens

29
Q

Define sponsorship

A

an enterprise paying or offering something in return for having its name linked with an event, person, or group

30
Q

What are some factors that should be considered when choosing a marketing method

A
  • cost of method
  • how much money is available to spend
  • how many potential customers can be reached
  • ease of distribution
  • who the target audience is
  • type of product
  • actions of competitors
31
Q
A

Enterprise IGCSE (7 decks)

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