commerce short answer Flashcards
How do businesses differentiate products?
Businesses differentiate products by emphasising unique features to make them more appealing than competitors’ offerings. For example, supermarkets offer various types of bread like white, wholemeal, and gluten-free to cater to different preferences.
What are the environmental considerations involved when promoting products?
Environmental considerations focus on minimising the ecological footprint of products. This includes using sustainable materials, reducing energy consumption and adopting practices that minimise waste generation. For example Woolworths’ plastic reduction efforts.
What factors differentiate products?
Product differentiation is based on factors such as quality, features, branding, and customer service, which highlight unique benefits and create a competitive edge.
What are the ethical considerations involved when promoting products?
Ethical considerations demand transparency and honesty in promotion. Businesses should provide accurate information about their products, avoiding misleading information or deceptive claims.
What are the social considerations involved when promoting products?
Social considerations involve respecting cultural diversity and inclusivity. They can also involve age, family background, wealth, income, education and gender. Businesses can positively impact communities by supporting local initiatives.
What is the role of gender in product promotion?
Gender in product promotion is often criticised for reinforcing stereotypes. Advertisements traditionally depict men in roles like using tools or watching sports, while women are shown in domestic roles. However, a trend towards gender-inclusive advertising is emerging, challenging these stereotypes. Brands like Adidas and Nike are showcasing physical strength across genders, and beauty product ads are becoming more gender-neutral. This shift caters to modern and ethical consumers but may alienate traditional customers.
What is the process used by businesses to target consumers, finding an appropriate target market?
Businesses target consumers by segmenting the market based on characteristics like age, gender, income, and lifestyle. This segmentation helps identify distinct groups within the market. Once segments are defined, the business selects a target market to focus its marketing efforts and increase sales and profits. By understanding and responding to the desires of this target market, businesses tailor their strategies effectively to satisfy specific needs and improve sales.
What factors influence contemporary selling techniques (technology)?
Contemporary selling techniques are heavily influenced by advanced technology such as Artificial Intelligence (AI), which helps businesses gather data, personalise marketing, and reach global markets through user-friendly websites, e-commerce platforms, digital advertising, mobile marketing, location-based marketing, and push notifications. These tools enhance customer engagement and drive sales growth.
What factors influence contemporary selling techniques (social media)?
Social media platforms enable targeted advertising, customer engagement through real-time support, and user-generated content (UGC) that influences brand perception and purchasing decisions. Leveraging social media allows businesses to create personalised interactions, build brand loyalty, and drive sales through strategic digital marketing efforts.
What selling techniques are used by businesses to promote a product and their effectiveness?
Businesses promote products through diverse strategies like advertising across platforms for loyalty, offering varied products for different needs, launching new items with tailored marketing, iconic branding for recognition, event sponsorships for audience connection, personal selling for relationships and recommendations, and media product placements for visibility. These approaches help businesses reach customers effectively and drive sales growth.
Why should businesses monitor and evaluate their selling techniques?
Because any downturn in sales can be very costly to a business product. This should allow businesses to rectify mistakes. Any increase in sales should also be quickly analysed so that the reasons for it occuring are understood.
