Commercial Practice Flashcards
Marketing
The act of finding the needs of the consumer and trying to sell services and products to meet those needs.
Technology Push
When new technology results in demand for a new product
Feasibilty analysis
Analysis of whether a product is feasable/marketable
Development
Modelling and mock ups
Testing
working prototypes made to test function and safe usage
User trialling
testing product with target market -> get feedback
Modification
Making neccesary changes to a product as a result of testing
Launch
introduction of product into society
Market Research
trends, focus groups, competitors, customer feedback, branding,
Primary research
Precise data collected firsthand using focus groups, surveys, and field research. expensive
Secondary research
Uses available data from other organisations, provides general information. Cheap. But can be wrong.
Advertising
Is the process of bringing a product to the attention of customers
Direct mail advertisment
Very Targeted. But often discarded as junk mail, as well as being quite expensive pp
ASA
Advertising standards agency
ITC
Independent television commission
