Management of marketing

Question 1

what is field research

Answer 1

is when new information is gathered for example from interviews, surveys and observations. Gathers primary information.

Question 2

What is desk resaerch

Answer 2

looking at existing information such as books, internet and newspapers. Gathers Secondary information

Question 3

Advantages of field research

Answer 3

Researchers has gathered new information and is therefore more up-to-date than existing information
The information has been gathered for specific purpose and is therefor more relevant to the businesses needs

Question 4

disadvantages of field research

Answer 4

It can take a long time to carry out field research which could stop decisions being made quickly

People need to be trained to carry out field research which can be expensive

Question 5

Advantages of desk research

Answer 5

It is usually cheaper to gather than field research, which saves the organisation money

Decisions can be made quickly because the information already exists.

Question 6

disadvantages of desk research

Answer 6

the information might be biased, which can lead to wrong incomplete decisions being made.

The research might have been carried out a long time ago and therefore the information is not relevant to todays business environment.

Question 7

Description of surveys/Questionnaire

Answer 7

Involves specific information being asked to respondents.

Question 8

Advantages of Surveys and questionnaire

Answer 8

Response for telephone survey is immediate.

A large number of people can be surveyed

Question 9

Disadvantages of Surveys and questionnaire

Answer 9

Many people do not like telephone surveys - respondents can be quite hostile.

questions must be simple and easy to answer

Question 10

Description of Test marketing

Answer 10

Launching a product in one region. The product will be launched to the whole country if result from the test market is positive.

Question 11

Advantages of Test Marketing

Answer 11

Customers can indicate area about the product they dislike

If the product fails in the test area the expensive of national launch is saved

Question 12

Disadvantages of test marketing

Answer 12

Customers in the test area may have tastes that are only specific to that area and are not a representation of the whole country.

Question 13

Description of face to face interviews

Answer 13

Face to face interviews which can be held in the street or at the respondents home

Question 14

Advantages of personal interviews

Answer 14

Allows for two way interview

Misunderstandings can be quickly cleared up

Question 15

disadvantages of personal interviews

Answer 15

Home Interviews can be unpopular with respondents

Question 16

Product…

Answer 16

A product is a good or a service sold to a customer or a business. Customers buy the products to meet their needs.
Stages of Product development:
Market research is done to find out the needs of the customers.
Ideas of the product are made based on the information from market research.
A prototype is Made
Market testing done so that the customers are able to try out and give feedback about the product
changes may be made due to the feedback from test marketing
Method of production has to be decided
Price to be charged has to be decided
Method of promotion has to be decided,
The place the product will be sold has to be decided.

Question 17

Development Stage

The product life-cycle

Answer 17

Cost in developing the product may be high. There are no sales

Question 18

Introduction Stage

The Product life cycle

Answer 18

The product is launched onto the market. Advertising cost will be very high

Question 19

Growth stage

The Product life cycle

Answer 19

Sales start to rise

More customers are aware of the product

Question 20

Maturity Stage

The Product Life Cycle

Answer 20

Sales at their peak. Advertising can be reduces as more know about the product

Question 21

Decline Stage

The Product life cycle

Answer 21

Sales start to decrease

Product may be withdrawn from the market

Question 22

Factors to consider when setting the price of the product.

Answer 22

Life Cycle of the product
Price charged by competitors
How much it costs to make the product
how much profit is wanted
how much of the product can be supplied 
the market segment that the product is focused towards

Question 23

High Price Strategy

Answer 23

The price charged is higher than the competitors

The product will be purchased by customers because they think it is of a high quality than competitors

Question 24

Low price strategy

Answer 24

The price charged is lower than competitors.

Question 25

Competitive Pricing Strategy

Answer 25

Organisations set similar prices for similar products. This prevents price wars. Customers will have similar prices offered by all the business.

Question 26

Where can products be sold

Answer 26

Through retailers such as John Lewis
Wholesalers who buy in bulk from manufacturer and sell to retailers.For example, Costco, Makro, Booker
Direct to the customer through personal selling, mail order or the internet.

Question 27

Advantages of Road Transport

Answer 27

Often cheaper than other methods
Can be a fast method of delivery
Customers receive their products right to their door.

Question 28

Disadvantages of Road Transport

Answer 28

Difficult to deliver large items

Not as environmentally friendly as other methods

Question 29

Advantages of train transport

Answer 29

Large Products can be transported

Large Quantities can be transported

Question 30

Disadvantage of Train Transport

Answer 30

Not a door to door service

Question 31

Advantages of Aircraft

Answer 31

Products can be transported across the world more quickly than sea
Large amounts of small products can be transported

Question 32

Disadvantages of aircraft

Answer 32

Not a door-to-door service

Large items cannot be transported

Question 33

Advantages of Ship/#

Answer 33

Larger Products can be transported

Products can be transported across the world

Question 34

Disadvantages of Ship/Boat

Answer 34

It is time consuming to transport products across the world

Not a door-to-door service