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
