Marketing

Question 1

Main aims of marketing?

Answer 1

Anticipating- what consumer wants in the future

Identifying- what consumer wants now

Satisfying- meeting consumers needs and wants with goods sold

Question 2

Different market segmentations

Answer 2

Age 
Gender
Location
Family status
Socio economic group

Question 3

Why segment your market?

Answer 3

To meet more of customers needs and wants

Question 4

Extension strategies (6)

Answer 4

Changing the product 
Changing packaging 
Changing place product is sold 
New advertisement 
New flavours 
Create special/ seasonal editions

Question 5

Reasons for choosing a location

Answer 5

Closeness to customers
Closeness to raw materials
Health and safety
Moving to an area where the government assists u(grants)
Transport links- close to airports/ motorways/ train stations

Question 6

Channels of distribution

Answer 6

Manufacturer

Wholesaler/ retailer/ agent

Consumer

Question 7

Destroyer pricing (4)

Answer 7

Penetration pricing- start price off low then gradually raise prices

Competition based pricing- setting cost similar to competitors

Price skimming- setting price high then gradually lowering price

Destroyer pricing- setting prices low to destroy competition

Question 8

Types of advertising? (6)

Answer 8

Tv adverts 
Radio adverts
Billboards
Websites/apps/social media
Newspapers

Question 9

Methods of promotion

Answer 9

Advertising
Sales promotions
Sponsorship
Product placement
Celebrity endorsement
Publicity