marketing Flashcards

1
Q

How does a business segment their customers?

A
  • age
  • gender
  • socio-economic group
  • education level
  • income
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2
Q

How is Target Marketing beneficial to businesses?

A
  • The business can produce goods and services specifically for the group they are targeting.
  • It can more closely meet the needs of those customers, and so is more likely to make a sale.
  • The marketing can be targeted at those who are most likely to want to pay for the product, so costs can be reduced.
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3
Q

What are the two types of Market Research?

A
  • Desk Research — looking at existing information, usually drawn up by someone else do their own purpose, e.g. government statistics, internet websites and blogs, trade magazines etc.
  • Field Research — going outside the business to gather the information the business needs, e.g. postal surveys, online surveys and street surveys.
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4
Q

What are the Advantages and Disadvantages of each method of Market Research?

A

Desk Research

Advantages
- relatively cheap
- quicker and easier to obtain

Disadvantages
- information may not be up-to-date
- originally collected for another purpose
- available to competitors

Field Research

Advantages
- information is up-to-date
- is collected for the exact purpose required
- it is not available to competitors

Disadvantages
- can be costly
- may take time to collect

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5
Q

What are the 4 P’s/ the Marketing Mix?

A

Product - the goods and services that the organisation provides for customers
Price - the amount charged by the organisation to the customer
Place - the location where the customer can buy the product
Promotion - informing and persuading customers of the products or services on sale

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6
Q

What are the stages of the Product Life Cycle?

A
  • Development
  • Launch
  • Growth
  • Maturity
  • Decline
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7
Q

What are the Methods of Distribution?

A
  • Road
  • Rail
  • Sea
  • Air
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8
Q

What are the Advantages and Disadvantages of each Method of Distribution?

A

Road

Advantages
- door-to-door service
- can make multiple stops

Disadvantages
- petrol is expensive
- roadworks can cause delay
- cannot transport large loads
- not environmentally friendly

Rail

Advantages
- quicker than road
- can transport large loads

Disadvantages
- not door-to-door
- have to make other arrangement to get to the destination (e.g. road)

Air

Advantages
- quickest method
- can transport large amounts

Disadvantages
- expensive
- not door-to-door
- have to make other arrangement to get to the destination (e.g. road)

Sea

Advantages
- can transport large amounts of
- more environmentally friendly than other methods

Disadvantages
- not door-to-door
- have to make other arrangements to get to destination (e.g. road)
- slow method

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9
Q

What are the Factors to Consider when choosing a Location?

A
  • competition
  • availability of resources
  • costs
  • government incentives
  • transport links
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10
Q

What are the Types of Promotion?

A
  • celebrity endorsement
  • DVD’s/Films
  • product placement
  • advertising
  • exhibitions and fairs
  • competitions
  • loyalty card
  • direct mail
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11
Q

What is the use of Technology in Marketing?

A
  • internet for e-commerce
  • e-mail for customer feedback
  • word processing for advertising posters or mail shots
  • EPOS (electronic point of sale) for market research
  • database for customer information
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