Marketing Plan

Question 1

What are the 5ps w descriptions

Answer 1

Person - target market
Place - where prod sold
Product - name image label
Promotion - AIDA
Price - ensure profit

Question 2

What is a marketing strategy

Answer 2

Course of action for improving flow of products

Question 3

1) the product (3)

Answer 3

Brandname (slogan, trade name is brand name thats registered under trade mark act)

Image

Labelling

Question 4

2) promotion - what is purpose of AIDA

Answer 4

Make client aware of prod - A
Arouse curiosity - I
Get client to want prod - D
Persuade customer to buy - A

Question 5

Ways to advertise (3)

Answer 5

Printed media
Electronic media
Outdoor advertising

Question 6

Types of pricing strategies (3)

Answer 6

Cost base - calc selling price by adding all costs in production and adding markeup

Demand based
- more demand = more client willing to pay
- more supply = the lower the prices must be bc of competition

Competition based
-Decide if price is higher or lower or same than competition

Question 7

What are the 2 ways of doing sales -part 1 (4)

Answer 7

Direct sales:
Manu sell own prod;
wants to demonstrate prod;
control over fixing price;
control over how workerd are motivated to increase sales

Question 8

ways of doing sales p2 ( 4)

Answer 8

Manu - not financially strong will benefit from selling to retailer/whole saler

Adv :
Sales increase bc wholsalers buy large quantities
Manu doesnt carry responsibility of risk of damages
Whole saler makes prod available to many retailers

Disadv:
Costs increase