Enterprise and marketing Flashcards
What is CUSTOMER IDENTIFICATION and how does it improve a products success?
the process through which a designer determines what demographic there product is targeted at and the wants and needs of this group
this information allows a designer to mold their product around the users wants and needs so that they will be more motivated to buy it
What is the purpose of LABELLING on a product?
labelling promotes the brand and the product which encourages a user to buy a product
it also communicates key information about a product such as nutritional information, safety information and quality standards marks
What is a CORPORATE IDENTITY and how is it established?
the reputation and image a brand presents which helps it distinguish itself from other similar brands.
usually established using specific fonts, colours and logo symbols which are unique to the product and brand
What is GLOBAL MARKETING ?
the process of a company promoting a product across many countries, altering the marketing strategies and brand identity to match the cultural and social customs which will encourage the user to buy the product
How is advertising and promotion used in the INTRODUCTION PHASE of a products lifecycle?
wide range of people targeted with lots of money spent to create interest and awareness for the product using a wide range of media platforms
How is advertising and promotion used in the GROWTH PHASE of a products lifecycle?
magazines and online platforms are used to compare the product to other competitors to demonstrate its advantages over other products
How is advertising and promotion used in the DECLINE PHASE of a products lifecycle?
the methods of growth and introduction are used in this phase to renew interest in the product possibly by showing new features, existing benefits and extension methods either to shift the product to a new market or increase brand identity before a new product comes out
Give examples of ADVERTISING
TV commercials
radio commercials
magazine ads
internet pop up ads
billboards
social media ads
in-store demonstrations
How has social media effected how products are advertised?
advertising can easily reach people worldwide
advertising can reach massive quantities of potential consumers with lower costs than tradition advertising
data mining and cookies allow corporations to target adds to specific groups to increase the effectiveness of there ads
What is RETARGETED MARKETING?
data from users previous searches is collected so that future ads match more closely to that specific users interests which increases the effectiveness of an add and reduces wasted money targeting people who will not buy the product
What is VIRAL MARKETING?
the massive interconnected nature of social media allows marketing messages to be spread quickly to thousands of individuals simply through individuals passing messages onto the people they are connected to online
What are DIRECT COSTS? (give examples)
costs directly involved in a products manufacturing and distribution
e.g. labour, materials, consumable production supplies, machinery tools and equipment
What are INDIRECT COSTS? (give examples)
costs require for a business to function that are not directly involved in product manufacturing.
e.g. administration, security, maintenance of equipment and buildings, electricity and power
What is COLLABORATIVE DESIGN?
when a design is created by a team of individuals all with different expertise which they combine together to improve on the product
