Marketing

Question 1

What is marketing?

Answer 1

Researching the market
analysing the market
setting marketing goals
developing marketing strategy

Question 2

What is a market? (definition)

Answer 2

A place where buyer and sellers meet.

Question 3

What is market orientated?

Answer 3

when the business bases its marketing mix on its perception of what the market wants

Question 4

what are the features of a market orientated?

Answer 4

Consumers are central to a business’ decisions making and there is a strong understanding of their needs
being able to respond quickly to change in the market
being in a strong position to meet the challenge of new competitors entering the market
being able to anticipated market change
being more confident that the launch of a new product will be success

Question 5

What are the advantages of market orientated?

Answer 5

flexible to changes in taste and fashion

Question 6

What