Marketing Flashcards
What is a market
- Any situation where buyers and sellers come into contact
- A place where goods are bought and sold
- Examples street market, supermarket
Marketing is ..
Define the term marketing
process of identifying, anticipating and meeting customer needs and requirements in order to make a profit
Types of marketing
Social media marketing
Integrated marketing
What are marketing activities
Marketing research
Pricing
Packaging
Branding
sales promotion
advertising
distribution
describe the “marketing mix”
Marketing mix
product
price (pricing strategies_
place
promotion
product in marketing mix
image and design
invention, design and innovation
Factors that influence consumer behaviour
- price
- price of substitution
- quality
- taste
- tradition
- income (affordability)
- spending patterns
- brand loyalty
Identify factors affecting packaging and presentations of goods
- presentation
- use of brand names
Steps for establishing and improving a marketing department
Describe methods of promoting sales
- advertising
- public relations
- sales promotion
- personal selling
Describe advertising as a method of promoting sales
- functions and forms
- promotion including trading stamps and coupons, loyalty pints, rebates, bundling
- loss leaders
- social media
State reasons why a firm may wish to advertise its products
Describe public relations as a method of promoting sales
- public relations including business entertainment
- and the offering of special awards and sponsorship
Techniques of selling
- salesmen and their approaches
- merchandising and adjusting of pricing policy
- methods of retailing
Methods of retailing
- shops
- department stores
- mail order
- e-commerce
- tele-marketing
- vending machines
What are the various terms of sales
- cash
- credit
- hire purchase
- layaway
- consignment
- cash and trade discounts
List the functions of consumer organisations
- the rights and protection of consumers (private organisations and government)
- role of **quality control organisations **like the Bureau of Standards
- role of the Ombudsman
Outline the role of customer service
- ensuring conformity to customer requirements
- adherence to copyrights
- effective communication
- coordinating flow of goods, services adn information
Forms of customer service
- warranty
- after sales service
- feedback
- online chat
- toll free numbers/call centers
- suggestion box
- surveys
intellectual property rights
Include trademark
copyright
patent
industrial design
What is marketing research
Why is marketing research undertaken?
What are the main areas of market research
Explain marketing research
consumer taste -
competition -
consumer behaviour
How is market reseach carried out
