marketing past paper questions Flashcards
Compare desk and field research
Field research is time consuming to carry out. Whereas desk research is easy to obtain and can be used immediately.
Field research is the most up do date information possible. Whereas desk research can not be rlevant as it is out of date.
Field research is relevant to your own needs. Whereas desk research may not be reliable as you didnt gather it
Describe the use of market research
To make sure the product meets the needs and wants fo the customers exactly.
To make sure the price is suitable for the target market.
To make sure the product si advertised in the correct place for the target market
Outline stages of product development
Generating an idea, producing a prototype, testing the product, deciding on advertising and promotions
discuss the use of own brands in a supermarket
Low prices can appeal to customers, gives customers a wider choice of price points, can cost a lot to develop and launch own brands, own brands can be perceived as low quality
Describe the term ethical marketing
a businesses marketing is ethical when it does not discriminate agianst, mislead or offend any customers
outline factors which should be considered before seetting a price for a product
how much profit you wwant to make, what your competitors are charging, the demand for the product, who your target market is
Describe pricing strategies that could be used by an organisation
When a high price is charged at all times,competitive pricing where you price match ro make your prices lower than your competitors, psychological pricing where a products price ends in 99p
explain the advanatges fo branding
Brands are associated with high quality. this means a high price can be charged.
rbands are instantly recognisable to customers. This emans they are more liekly to pick your product over your competitor
Customers may eb willing to pay mor efor branded products. This emans there will be an increase in profit
Justify the use of market segmentation
products will meet the needs and wants fo the cistoemrs exactly
to sell the product in the correct place.
to amke sure the product is sold at the correct place for the target market
to amke sure the promotions and advertsiing campaigns are placed in the correct place
describe the methods of sales promotion
loyalty cards where cutsoemr sare given points for making continued purchases.
free smaples to give custoemrs a small taster before making a purchase
special offers such as by one get one free
product placement where a business pays to have their productappear in films tv shows
outline the advanatges of packaging
can protect the product during transportation/ deliver
can make the product more attractive and encourage cutsomers to buy
csan inform cutsoemr shwo to successfuklly use the product
can provide nutritional information and health guidance
Explain factors which could eb considered prior to setting the price fo a product
How much competitors are charging. Therefore a business can price match their competitors or they may lose sales
the cost of the raw materials. Thsi emans if high quality raw materials is used a higher price can be charged
How much profit you wnat to make. Therefore there can ne investmenst amde for the business.
Explain the disadvantages of branding
Brands are often copied. This means the busensses sales ma be affected
Branded products are more expensiev to buy. This means customers may eb reduced
It is expensive to reate a brand. This means a business may lose profit
describe the benefits of using technology to promote the business
communication is possible all over the world
a more cost effective way of promoting the business
exlpain factors which would be considered before setting a price for a product
How much competitors are charging. this means a business should price match or they cna lose sales
how much profit you want to make. this emsans you will be able to invest in the business
the demand for the product. this means if it is in high demand a higher price can be charged