Marketing

Question 1

Role of marketing

Answer 1

Identify customers
inform customers
increasing sales

Question 2

Methods of marketing increasing sales

Answer 2

Advertising a product or service
reducing price
selling by different methods
selling the products in different places

Question 3

Market research

Answer 3

How a business collects information on whether their product will be bought or not

Question 4

Methods of primary market research

Answer 4

Questionnaires
interviews
trials
focus groups

Question 5

Questionnaires

Answer 5

Question sheet filled in by Customer

Question 6

Interviews

Answer 6

The interviewer asks consumer about the product and notes answers

Question 7

Trials

Answer 7

Tests whether customers will buy a product

Question 8

Focus groups

Answer 8

Small groups of customers who give opinions on products

Question 9

Primary market research

Answer 9

Collecting new information that is ‘firsthand’

Question 10

Secondary market research

Answer 10

Information that has already been collected by another organisation

Question 11

Methods of secondary market research

Answer 11

Census data
internal data
websites
newspapers and magazines

Question 12

Census data

Answer 12

Data collected by the government every 10 years

Question 13

Internal data

Answer 13

Data already within a business based on past performance

Question 14

Qualitative data

Answer 14

Based on the opinions of those who have been asked but can be difficult to interpret

Question 15

Quantitive data

Answer 15

Numerical data which is easier to analyse than qualitative data

Question 16

Market segmentation

Answer 16

Splitting the market for a product into different parts

Question 17

What are the five categories of segmenting the market

Answer 17

Age gender income location lifestyle

Question 18

Marketing mix

Answer 18

Price product place promotion

Question 19

What is price affected by

Answer 19

Price of competitors
reputation of business
costs
aims and objectives

Question 20

Methods of pricing

Answer 20

Competitor
cost-plus
Penetration
skimming
promotional 

Question 21

What is the product life cycle

Answer 21

It shows does timespan of a product and reflects the customers taste change

Question 22

Four stages of product life cycle

Answer 22

Introduction growth maturity decline

Question 23

How does the marketing department respond in the introduction phase

Answer 23

Business will advertise

Question 24

How does the marketing department respond in the Growth phase

Answer 24

Advertising will change slightly as the product is more known to customers

Question 25

How does the marketing department respond in the maturity phase

Answer 25

Will continue advertising to maintain sales against competition

Question 26

How does the marketing department respond in the Decline phase

Answer 26

New products will be developed

Question 27

Methods of extending the product life cycle

Answer 27

Readvertising reduced price promotional offers developing new markets

Question 28

Place

Answer 28

Where a product sold and how the product gets to the consumer

Question 29

Physical distribution method one

Answer 29

Producer ——>consumer

Question 30

Physical distribution method two 

Answer 30

Producer —>retailer —>Customer

Question 31

Physical distribution method three

Answer 31

Producer —>wholesaler —> retailer —> Customer

Question 32

Digital distribution

Answer 32

Products are downloaded digitally and involve no physical product being moved

Question 33

Advantages of digital distribution

Answer 33

Customer can access product 24 hours a day Cost saving to the

Question 34

Disadvantages of digital distribution 

Answer 34

Not all goods are suitable for digital distribution not all customers have access to the internet

Question 35

Promotion

Answer 35

How a business informs its customers about a product or service

Question 36

Aims of promotion

Answer 36

Inform customers keep a business ahead of its competitors maintain or increase sales create the image of a business

Question 37

Methods of point-of-sale promotion

Answer 37

Price reductions lost leaders competitions free samples

Question 38

Advertising media

Answer 38

Different places a business will advertise

Question 39

Factors influencing advertising media

Answer 39

Cost of the advertising target market for the product whether the advertisement is part of a campaign

Question 40

Methods of advertising media

Answer 40

Social media websites printed media television radio

Question 41

Market data

Answer 41

Information that will help the business make marketing decisions

Question 42

What would market data include

Answer 42

Changes in demand target market market share product change affect of promotion