Marketing Acronym remember

Question 1

Role

Answer 1

TASI
T - Types of Markets
A - approaches to marketing
S - strategic role
I - interdependence with other key business functions

Question 2

Influences

Answer 2

FEC
F - Factors influencing customer choice
E - Ethical
C - Consumer laws

Question 3

Factors influencing consumer choice

Answer 3

PEGS
P - Psychological
E - Economic
G - Government
S - Sociocultural

Question 4

Ethical

Answer 4

TAPES
T - truth
A - accuracy and good taste in advertising
P - products that may damage health
E - engaging in fair competition
S - Sugging

Question 5

Consumer laws

Answer 5

WIPD
W - Warranties
I - implied conditions
P - Price discrimination
D - Deceptive and misleading advertising

Question 6

Processes

Answer 6

SMEIDI
S - Situation analysis
M - Market research
E - Establishing marketing objectives
I - identifying target market (s)
D - Develop marketing strategies
I - implement, monitor and control

Question 7

Strategies

Answer 7

4 P’s PEG
4 P’s - Product, price, promotion and place (channels of distribution)
P - People, processes, physical evidence
E - E-marketing
G - Global marketing