MARKETING

Question 1

TYPES OF MARKET RESEARCH

Answer 1

FOCUS GROUPS
PERSONAL INTERVIEWS
POSTAL SURVEY
TEST MARKETING
OBSERVATION
SOCIAL NETWORKING WEBSITES
INTERNET/ONLINE
EPOS
NEWSPAPERS

Question 2

PRIMARY AND SECONDARY MARKET RESEARCH

Answer 2

PRIMARY IS FIRST HAND INFORMATION
SECONDARY IS INFO THAT ALREADY EXISTS

Question 4

sampling techniques

Answer 4

random sampling - doesn’t target any specific consumers and those taking part are selected at random - simple to design and interpret and less chance of bias

quota sampling - divided into variables such as income, age and location - quick and easy to obtain a sample - cheaper as fewer respondents - risk of bias - need to have a detailed understanding of market segments

Question 5

marketing mix elements

Answer 5

PRODUCT
PRICE
PROMOTION
PLACE
PEOPLE
PROCESS
PHYSICAL EVIDENCE

Question 6

product life cycle

Answer 6

DEVELOPMENT
INTRODUCTION
GROWTH
MATURITY
DECILINE

Question 7

PRODUCT PORTFOLIO

Answer 7

SPREADS RISK
MAXIMISES SALES
CAN RAISE THE PROFILE
EASIER TO LAUNCH NEW PRODUCTS
LOYALTY

HIGH COSTS
BAD PUBLICITY IF ONES BAD
RESOURCES MAY BE SPREAD TOO THIN SO NONE MARKET LEADER

Question 8

BOSTON MATRIX

Answer 8

STARS ARE HIGH GROWTH IN BOTH MARKET AND NEED HEAVY INVESTMENTS
CASH COWS ARE LOW GROWTH PRODUCTS BUT HAVE LITTLE NEED FOR INVESTMENT
QUESTION MARKS ARE LOW MARKET SHARE BUT HIGH GROWTH NEED HIGH INVESTMENT
DOGS ARE LOWEST IN MARKET AND BARELY BREAK EVEN

Question 9

PRICE STRATAGIES

Answer 9

COST BASED PRICES
PENETRATION PRICING
PROMOTIONAL PRICING
DESTROYER PRICING
SKIMMING
PREMIUM
COMPETITIVE
PSYCHOLOGICAL
LOSS LEADER

Question 10

BENEFITS OF E-COMMERCE

Answer 10

MORE CUSTOMER=INCREASED MARKET SHARE
CUSTOMER FEEDBACK = CHANGE THINGS
REDUCE COSTS COS NO SHOP
SHOP 24/7 = MAX TIME FOR CUSTOMERS TO BUY
OPENS INTERNATIONAL MARKETS

Question 11

CHOOSING HOW TO SELL

Answer 11

TYPE OF PRODUCT
FINANCE AVAILABLE
IMAGE OF PRODUCT
LEGAL RESTRICTIONS
PRODUCT LIFE CYCLE STAGE

Question 12

TYPES OF PROMOTION

Answer 12

TV
RADIO
NEWSPAPER
BILLBOARD
ONLINE
IN APP
EMAIL
SMS

Question 13

IN AND OUT OF PIPELINE PROMOTION

Answer 13

INTO :
POINT OF SALE
SALE OR RETURN
DEALER LOADER
PROMOTIONAL GIFTS
TRAINING STAFF
OUT:
SPECIAL OFFERS
BOGOF
COUCHERS
LOYALTY CARDS
FREE GIFTS
FREE DELIVERY

Question 14

PR

Answer 14

HAVING PRESS RELEASES
SPONSORSHIP
PROMOTING CSR
DONTATING TO CHARITY

Question 15

MAXIMISING CUSTOMER SATISFACTION

Answer 15

GOOD AFTER SALES SERVICE
CUSTOMER CARE STRATEGIES
GUARANTEES AND WARRANTIES
TIME LIMIT
QUALITY PRODUCT
HIGH QUALITY COMMUNICATION
EASY TO NAVIGATE