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DT > Commercial Practise > Flashcards

Commercial Practise Flashcards

1
Q

Define Commercial Practise

A

How companies conduct their bussiness

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2
Q

What are the different sections of commerical practise?

A 
Marketing
Product development
Human Resources
Advertising
Promotion.
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3
Q

Define Marketing

A

Finding out the needs of the consumer and trying to meet those needs through services and products

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4
Q

Define technology push

A

When demand forces new innovative designs to solve the demands.

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5
Q

Define Market Pull

A

The needs and cries of the consumer encourage designers to create products and servies to solve this problem e.g. 3D printing, electric cars, 3d TV’s

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6
Q

Define Inbound marketing

A

Information that the company recieves via the consumer.

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7
Q

Examples of primary inbound marketing

A

Focus groups
Interviews
Surveys
Observations

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8
Q

Advantages of primary inbound marketing

A

Tailored to a companies needs

Up-to-date information

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9
Q

Disadvantages of inbound marketing

A

Time consuming and expensive.

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10
Q

Examples of secondary inbound marketing

A

Reaserch conducted by outside agencies

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11
Q

Advantages of secondary inbound marketing

A

No specific company needed
Quick to collect
Cheaper than primary reaserch

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12
Q

Disadvantage of secondary inbound marketing

A

Maybe out of date.

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13
Q

Define outbound marketing

A

Companies that send information out to the public about products i.e. price

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14
Q

What is outbound marketing split into?

A

Product
Price
Promotion
Place

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15
Q

What entails Product in outbound marketing?

A 
What will it look like
how will it perform
maintenance
durability
features
Brand name
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16
Q

What entails Price in outbound marketing?

A

How much is the consumer willing to pay
manufacturing costs
distribution costs
promotional costs
penetrating pricing- price set low to gain market share
Price skimming- competitive products can command a high price which is reduced with increased supply e.g. electronics
Psychological pricing i.e. £1.99 instead of £2.00
Predatory pricing- undercutting competitors

17
Q

What entails Promotion in outbound marketing?

A

Advertising
Offers (BOGOF) and competitors
Exhibitions and fair trade
Sales representatives.

18
Q

What entails Places in outbound marketing?

A

Refers to the location where the consumer gets the product

19
Q

What are the four main distribution channels

A

Manufacturer- Consumer e.g. mail order, farm shop
Manufacturer-retailer- consumer e.g. high street stores
Manufacturer-wholesaler-retailer-consumer e.g medium size convenience stores

DT (3 decks)

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