Marketing Decision Making

Question 1

AIDA -A

Answer 1

• Awareness
  1. Make the consumer aware of the product
  2. Grab consumers attention
  3. An amusing or controversial add usually works well for this

Question 2

AIDA- I

Answer 2

Interest

1. Make consumer interested in the product
2. The ad try’s to differentiate the brand from a rival brand

Question 3

AIDA -D

Answer 3

Desire

1. Persuading consumer he or she wants the product
2. Portraying a desirable image or ordering free samples

Question 4

ADIA - A

Answer 4

Action

1. Get consumer to act or actually buy
2. Using sales promotions help this
   - low initial price
   - three for price of two

Question 5

What does DAGMAR stand for?

Answer 5

Defining 
Advertising 
Goals 
             For 
Measured 
Advertising 
Results

Question 6

What does DAGMAR help

Answer 6

Increase product awareness

- based on idea that customers more through a series of dove stages when buying a products

Question 7

What are the five stages of DAGMAR

Answer 7

1. Unawareness
2. Awareness
3. Comprehension
4. Conviction
5. Action

Question 8

What does unawareness mean to the consumer and what is a suitable method of promotion

Answer 8

1. Consumer doesn’t know about the product

2. Suitable method is media advertising e.g tv ad

Question 9

What is awareness to the consumer and what is a suitable method of promotion

Answer 9

1. Consumer has a vague awareness of the product

2. Suitable method of advertising is media advertising E.g tv ad

Question 10

What is comprehension to the consumer and what suitable method of promotion should be used

Answer 10

1. Consumer recognises and knows about the product

2. Suitable methods of promotion - support through product information

Question 11

What is conviction to the consumer and what is a suitable method of promotion

Answer 11

1. Consumers prefers the products to others
2. Suitable methods of promotion
   - advertising to reinforce brand differentiation

Question 12

What is action to the consumer and what suitable methods of promotion should be used

Answer 12

1. Consumer purchases the product

2. Suitable methods of promotion - personal selling

Question 13

Business analyse their current situation using SWOT! what is SWOT?

Answer 13

Strengths
Weaknesses
Opportunities
Threats

Question 14

What is the use of SWOT

Answer 14

Let’s the business know where it has a competitive advantage

Question 15

What is the use of Ansoffs Matrix

Answer 15

1. Used when firms objective is to grow

2. Shows strategies that can be used to achieve growth according to how risky they are

Question 16

Benefits to Ansoffs matrix

Answer 16

It doesn’t just lay out potential strategies for growth

• it also forces market planners to think about the expected risks of moving I’m a certain direction

Question 17

Disadvantage of the matrix

Answer 17

Fails to show that market development and diversification strategies also tend to require significant chance in day to day runnings

Question 18

Product development - Ansoffs matrix

Benefits

Answer 18

1. Is less risky

2. But it works for firms who already have a competitive advantage

Question 19

Market penetration - Ansoffs matrix

Benefits

Answer 19

• least risky strategy of all

- firms opt for this approach

Question 20

What strategy should companies use if they want to expand abroad

Answer 20

Market extension or development.

For example fast food restaurants tend to use this opinion - KFC first opened in the USA in 1952 and then extended their market by opening in the UK in 1965

Question 21

Why wouldn’t you use diversification abroad

Answer 21

• diversification is already a risky strategy and expanding internationally is already risky, it’s very unlikely that a firm would decide to launch a completely new product in a foreign market that also completely new to them

Question 22

What is the Aida model used for

Answer 22

1. Develop promotional campaigns

2. Mainly applied to above the line activities