management of marketing

Question 1

how is field research conducted

Answer 1

by
telephone/online/postal survey
personal interviews
focus group
hall test
consumer audit
test marketing
epos

Question 2

what is an advantage of field research

Answer 2

only firm that collects data has access o it
can be verified

Question 3

what is a disadvantage of field research

Answer 3

expensive to cllect
a lot of time taken

Question 4

what r some sources of desk research

Answer 4

-sales figures
annual reports and data
inernet data
governement publications
commercial publications

Question 5

whats an advantage of desk research

Answer 5

saves time
inexpensive

Question 6

what is a disadvantage of desk research

Answer 6

cannot be verified
not specifically related to the project

Question 7

what are the 7 Ps

Answer 7

product
price
promotions
physical evidence
process
place
people

Question 8

what are some extension strategies for a product

Answer 8

reducing prices
change the channel of ditribution
develop a wide range of products
alternating methods of promotion

Question 9

what is a product line

Answer 9

A product line is a group of related products all marketed under a single brand name that is sold by the same company

Question 10

what is an advantage of a product line

Answer 10

increase profits
raise profiel of business
increases awareness of business
makes business easier to manage

Question 11

what is a disadvantage of a product line

Answer 11

may loose focus on the business key objectives/speciality
products can spread to wide

Question 12

what are the new product development stages

Answer 12

generate ideas
analyse and further research
prototype
test marketing
full launch

Question 13

what are some pricing strategies

Answer 13

cost plus
competitive/market
skimming
penetrating price
price discrimination
destroyer pice
promotional
loss leaders
psychological
premium pricing
low price

Question 14

what are retailers

Answer 14

retailers is a person or organisation that sells good to consumers

Question 15

what is an advantage of a retailer

Answer 15

are located closer to customers
large retailers buy in bulk

Question 16

what is a disadvantage of a retailer

Answer 16

take a cut of the product
the product will face competition from other products stocked by retailer

Question 17

what are retailer types

Answer 17

independant stores
hypermarkets and superstores
convinience stores
out of town retailers
discount stores
department stores

Question 18

what is a wholesaler

Answer 18

this provides a link between the producer and retailer

Question 19

what are into the pipeline promotions

Answer 19

dealer loads
pint of sales displays
dealer competitions
sale or return
staff training
extended credit

Question 20

what are types of out of the pipeline promotion

Answer 20

free samples
free products
loyalty schemes
vouchers/gift cards
special offers

Question 21

what is a public relation

Answer 21

where an organisation tries to communicate with all customers, shareholders, employees and the government - all of whom form the organisations ‘pubic’

Question 22

what can companies do for increase public relation

Answer 22

open a new stre
charitable donation
sponserships
company visits

Question 23

how can people provide better customer satisfaction

Answer 23

by:
training staff
updating staff
monitoring staff
after sales services

Question 24

what processes can be used for customer satisfaction

Answer 24

well staffed
live chat
acess processors
technology to improve processes

Question 25

what r ways businesses implement physical evidence

Answer 25

the layout of premises ambiance feedback and testimonials layout / design of website

Question 26

what does technology allow

Answer 26

e-commerce increased market share neternet advertising scial media desktop publishing online surveys apps digital screens self-checkout systems databases electronic point of sale (epos)

Question 27

how does cost plus work

Answer 27

% added as mark-up for profit

Question 28

how does competitive market work

Answer 28

avoids price wars encourages competition

Question 29

how does skimming price work

Answer 29

price set high, lowered over time lack of competition allows for a higher price

Question 30

how does penetration pricing work

Answer 30

used to introduce a product into an established market allows business to achieve sales and market shares quickly

Question 31

how does price discrimination work

Answer 31

altered depending on a discrimination factor

Question 32

how does destroyer pricing work

Answer 32

setting a price below those of competitors business will run at lost in terms of sales

Question 33

how does promotional price work

Answer 33

used to boost sales by decreasing price to create interest in the product

Question 34

how does loss leader work

Answer 34

set unprofitably low to entice customers to buy other products (Such as petrol)

Question 35

psychological

Answer 35

price is set below a whole number

Question 36

how does premium pricing work

Answer 36

used where image is important just kept high

Question 37

how does low price work

Answer 37

business will change to a lower price than competitors consumers will respond positively to changed in low prices allowing for a higher result

Question 38

what does acas do

Answer 38

provide info, advice, training etc to employers and employees to avoid work place problems

Question 40

what r some out of the pipeline promotions

Answer 40

vouchers buy one get one off