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Fresher > FOSC Key Things > Flashcards

FOSC Key Things Flashcards

1
Q

What is sales? (L10)

A

Main quality within manufacturing/service company , maintains over 80% of communications effort and budget is due to sales.

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2
Q

What is selling? (L10)

A

Process of aligning a product with a specific identified target and their needs

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3
Q

Eight sections of the selling process (L10)

A

I - identify target
P - Plan approach
A - Approach
A - Analyse needs
P - Present solutions
A - Answer objections
C - Closing
F - Follow up

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4
Q

I-P-A-A-P-A-C-F (L10)

A

Identify target
plan approach
Approach
Analyse needs
Present solution
Answer objections
Closing
Follow up

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5
Q

Identifying target - Sales (L10)

A

Is the target prepared to, in a position to, will benefit from transaction

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6
Q

Planning Approach - Sales (L10)

A

Specific approach based on personality and the environment/time to do so in which they will feel comfortable

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7
Q

Approach/contact - Sales (L10)

A

Most risky do in person to read body language, referred approach is the best way

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8
Q

Analysis of Needs - Sales (L10)

A

Learning of needs, best way to present product in value to them. Sales rep get target talking themselves only guide conversation to allow opening up

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9
Q

Present Solutions - Sales (L10)

A

Presents capabilities to the target in attempt of a sale

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10
Q

Answering Objections - Sales (L10)

A

Answer in terms of what outcome the product will provide. Positive objections is them getting okay with the idea of transaction and knowing how the product works. Negative transactions do not indicate the interest in sale therefore should pick up on it and not pursue sale at this point.

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11
Q

Closing - Sales (L10)

A

The push to encourage the sale to occur.
Four ways to close depending the circumstance:
- Summary, invitation to confirm purchase
- Alternative, if unsure offer to ensure purchase of something
- Assumption, sale already closed, back them into corner.. not good long term?
- Special offer, may or may not be a true story but an offer at a discounted price

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12
Q

Follow up - Sales (L10)

A

After the success of transaction, reassuring to provide comfort in purchase and keeping connection as a client for future transactions

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13
Q

Why are sales critical? (L10)

A
  • Push big ticking over the edge
  • 90% retail market controlled over 300 people, get through first to get access to market. Sell these people
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14
Q

Sales is what compared to marketing in communications? (L10)

A

Sales is the dominant platform for communications and marketing is the supporting role to facilitate sales

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15
Q

Two types of foodservice markets (L13)

A
  1. In home (Books, TV)
  2. Out of the home (Restaurant, cafe)
    Three layers of a foodservice market
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16
Q

What is the structure of foodservice markets (L13)

A
  • Core offering, calorific/consumed
  • Service element, Development/presentation core offering
  • Other enhancements, specific atmosphere cater consumer specific feeling
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17
Q

What opportunity does foodservice have that food retail does not? (L13)

A

Food service more of an opportunity for innovation compared to food retail. There is also a opportunity to add value using the three layers of food service.

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18
Q

What is the core offering layer of foodservice markets? (L13)

A

Core offering is the calorific aspect associated with the food service, it is what is actually consumed by the consumer

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19
Q

What is the service element of a foodservice market? (L13)

A

Service element is the development and presentation of the core offering to add value and facilitate the consumer need.

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20
Q

What is the other enhancements layer of foodservice markets? (L13)

A

Other enhancements is the creation of a specific atmosphere in order to cater a consumers specific feeling or wanted environment.

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21
Q

Who are foodservice markets marketed to? (L13)

A

Food service is driven by social group needs. A group must decide on a specific foodservice, there is always a conversation to choose the best suited to time, location, service and occasion.

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22
Q

Foodservice interface (L13)

A

Highly fragmented at consumer interface. Large websites such as google have the ability to separate the market form the service, they control who sees the service online.

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23
Q

Purpose of marketing plan (L11)

A

Achieve a specific goal or object at a specified location or time.

24
Q

What do marketing plans require and provide? -marketing plan structure (L11)

A

optimum levels of flexibility and complexity to allow future modifications and control with fast moving events. Gives advantage over competitors too simple/complex plans.

25
Q

Marketing plan structure (L11)

A

Initial plan - correct level flexibility
Execution - in accordance to plan
Evaluation - progress and diff btwn desired and current
Revision - findings evaluation and implementing feed-back in re planning

26
Q

Initial plan - marketing plan structure (L11)

A

Contain an optimum level of complexity and flexibility to allow future modification to keep up with fast moving events.

27
Q

Execution - marketing plan structure (L11)

A

putting the initial plan into effect in accordance

28
Q

Evaluation - marketing plan structure (L11)

A

Checking progress towards desired objective and difference between it and the current situation.

29
Q

Revision - marketing plan structure (L11)

A

Understanding and implementing the findings/feedback from the evaluation into the replanning to match the current situation. For this to be possible the plan must be flexible enough to allow the modifications.

30
Q

What must the marketing plans contain? (L11)

A

Objectives and resources and specific level of specificity
- Tangible (money)
- Intangible (Time)

31
Q

How to measure specificity (L11)

A

Sausage test - Replacing the key descriptors with word sausage. Makes sense = fail.
Opposites test - opposites of the key desires in the plan. Makes sense = not describing a playable alternative

32
Q

What does a marketing plan outline? (L11)

A
  • Current situation
  • relevant aspects of desired situation
  • relevant tasks
  • control points
  • areas responsibility
  • resources
  • deadlines (mini plans allows greater detail)
33
Q

History of food markets (L12)

A

Historically food markets were regular gatherings to exchange goods and services. They still happen currently however not as popular.
Food retailing was shared between weekly markets and specialist retail food shops supplied by the specialist markets.
Producers supplied their products to consumers through two channels: weekly markets and specialised markets (wholesaler, retail shop, consumer)

34
Q

Historically what were the two channels to supply consumers? (L12)

A
  • Weekly markets
  • Specialist markets that supplied wholesalers to which made it to the retailers then consumers
35
Q

Delivery of food retail (L12)

A

Delivery was common up to 1970s, the foods were generally unpackaged and highly seasonal therefore required fast movement from manufacturer to consumer.

36
Q

What changed the food retail market? (L12)

A

Food retail market was forever changed with the invention of the electric motor. This invention provided opportunity for increased mobility of food products, long term storage and a larger carrying capacity.
1916 the first supermarket was introduced however only began taking of in the 1930s.

37
Q

Supermarkets purpose (L12)

A

Modern supermarkets are a ‘one stop shop’ that have adapted and arranged in a strategic categorical manner of high and low value products in order to maximise the consumer spend in the most efficient way possible.

38
Q

Supermarket structure (L12)

A

Supermarkets are structured in a specific way for consumers to follow an anticlockwise route unknowingly, keeping them in the high value, money making areas the longest and movement through the low value areas efficient. This route and movement allows the extraction of the most money possible from consumers.
High value areas are associated as the ‘pleasant places to be’ and is organised differently to the low value areas arranged for efficiency, the exploitation of the high value areas and products creates an illusion of low costs storewide.

39
Q

KVIs (L12)

A

KVI stands for known value items such as milk, the cost of these items are known to consumers and kept low to transfer the impression of low cost onto other products.

40
Q

Four supermarket competitors (L12)

A
  • Adapted specialist
  • Convenience stores
  • Discounters
  • The web
41
Q

Adapted specialist market competitors (L12)

A

Markets largely compete with supermarkets in the high value product category areas therefore taking profits from supermarkets.

42
Q

Convinience store competitors (L12)

A

Such as gas stations don’t specifically specialise in high value categories but are evolving and competing with supermarkets.

43
Q

Large discounters (L12)

A

Large discounters relationship is more predatory than competitive. They emerged from Germany and generally offer just one example per product thus saving money and space allowing the offer of superior value for cost to consumers.

44
Q

The web retail market competitor (L12)

A

The we is potentially able to become the greatest danger to supermarkets however have not yet developed into its full potential as has to overcome the fact food is perishable, fragile and requires costly delivery.

45
Q

Reasons for international markets (L14)

A

Industrial revolution occurs when a country cannot grow enough food to support the population therefore it must come form elsewhere.

Political, economic, social, strategic and lobby pressure are all motivations in which promote the international food trade

46
Q

Difficulties with International food markets (L14)

A

Tariffs, covert non-tariffs, overt non-tariffs
Currency differences can cause problems as they are unpredictable and volatile in value along with the fact products are of different value/prices internationally and conversion can cause a problem in this area.

47
Q

Getting food across boarder barriers (L14)

A

TARIFFS - Tariffs are specific taxes imposed at the boarder, every jurisdictions has a form of tariff on food products.
OVERT NON-TARIFFS - These are not money related though do make life difficult, these include delays, inspections, regulations.
COVERT NON-TARIFFS - similar to overt though is not through government agencies, this is when things are constantly going wrong and it may or may not be due to chance.

48
Q

How is food marketed internationally? (L14)

A

When exporting internationally it is best to initially focus on a small population or suburb and work the way up as countries are very large and failure can be extremely expensive. Extensive target and channel research is to be carried out before decision of export in addition to having a partner with knowledge of the ins and outs of the usage cycle/channel and competitors of the category wanting to enter.

49
Q

Payment of international marketing (L14)

A

Payment of products can be an extremely risky process if not done with a safe net. Setting up an irrevocable payment to a bank of no association to either party will take and store the payment until the other company has received exactly what was promised to be received then will be paid to the exporter if all is well or refunded if cannot fulfill the promise.

50
Q

What are mega players and who(L15)

A

Platforms which suppliers and consumers meet and exchange.
Companies including Facebook and google that have been dominating the internet since 2005.

51
Q

How do the mega players maintain dominance? (L15)

A

They maintain dominate with the use of gathering information through exchanges allowing optimised offerings and control, this makes the information a condition of service.

52
Q

Why is web less effective at penetrating food? (L15)

A

Food is bulky, perishable, low value and purchased frequently moving food is also costly and needs to be frequent, therefore, the web is less effective in the aspect of penetrating food. Currently the foodservice market is dominated by a large amount of small players which the internet cannot reproduce (social setting).

53
Q

How has internet changed food marketing? (L15)

A

There is an increased flow of information through the use of social media with the help of influencers (fads)

54
Q

What does the web provide? (L15)

A

The web forms a crucial part of communication between the producer and consumer in terms of offers, transactions and evaluations.

55
Q

Effect of web on food marketing (L15)

A

Big internet providers intermediate themselves between restaurants and customers to which they are in the position to charge ‘rent’ for the ideal location in the search engine results. The basic consumer/business purchase process remains the same though the web cannot be ignored in terms of attempting to influence their target purchase process.

56
Q

Web nodes and links (L15)

A

Nodes - dedicated websites (FB), flagship platform of web communication, must be structured to optimise set of decision processes.
Links - Search engines

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