Marketing : Content

Question 1

Customer needs

Answer 1

Price
Choice
Quality
Convenience

Question 2

Methods of Primary research

Answer 2

Survey
Questionnaires
Focus Groups
Observation
Interviews

Question 3

Methods of Secondary research

Answer 3

Internet
Gov. Statistics
Company reports
Articles

Question 4

4 elements of the Boston Matrix

Answer 4

Stars
Cash Cows
Question marks
Dogs

Question 5

What’s on the X and Y axis of the Boston Matrix respectively

Answer 5

X = Market share
Y = Market growth

Question 6

Cost plus pricing

Answer 6

Add mark up based on unit cost

Question 7

Pricing Low

Answer 7

Used for introducing products, encourages sales

Question 8

Pricing skimming

Answer 8

Start with a high price upon market entry and slowly declines to keep sales

Question 9

Competitive pricing

Answer 9

Price based on competitors

Question 10

5 stages of the Product life-cycle

Answer 10

Research and Development
Introduction
Growth
Maturity
Decline

Question 11

7p’s Of the Marketing Mix

Answer 11

Price
Product
Place
Promotion
People
Physical Environment
Process

Question 12

PED

Answer 12

(%)Change in quantity demanded / (%)Change in price

Question 13

YED

Answer 13

(%)Change in quantity demanded / (%)Change in income

Question 14

Methods of Promotion

Answer 14

TV Ads
Radio Ads
PR
Sponsorship

Question 15

Distribution chain

Answer 15

All the places the product moves from to reach the customer