Marketing Process Flashcards

1
Q

Recall the template for:
“market research”

A

Methods of gathering primary data
- Survey
- Observation
- Experiment

Types of secondary data:
- Internal
- External

Relate to Dawn
Market research provides solutions to marketing related problems, e.g. breakage of product
Through analysis, solutions can arise to these problems

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Recall the template for:
“establishing market objectives”

A

Common market objectives include:
- Increasing market share
- Expanding the product mix
- Maximising customer service

Relate to Dawn
Marketing objectives, derived from the marketing plan, provide direction and intent for Dawn in a foreign market

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Recall the template for:
“identifying target markets”

A

Types of target market
- Mass
- Segmented
- Niche

  • Primary
  • Secondary

Relate to Dawn
Target markets create focus on a particular portion of society so finances is spent wisely Dawn needs to be wise with spending as they have already committed finances into expansion

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Recall the template for:
“developing marketing strategies”

A

Marketing mix - 4 ‘P’s

Branding
Packaging

Total Product Concept

Features of Product
- Quality
- Packaging/labelling
- Design
- Brand name
- Exclusive feature

Pricing Strategies
- Cost-based
- Competition-based
- Market-based

Promotion
- Personal selling
- Relationship marketing
- Sales promotion
- Publicity
- Public relations
- Advertising

Place
- Distribution channels
- Intermediaries

Relate to Dawn
The branding is useless overseas
High quality

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Recall the template for:
“implementation, monitoring and controlling – developing a financial forecast; comparing actual and planned results, revising the marketing strategy”

A

Steps to develop a financial forecast:
- Estimate the cost of the marketing plan
- Estimate the revenue generated by the marketing plan

KPI measuring the success of the marketing plan are:
- Sales analysis
- Market share analysis
- Marketing return on investment

Revising the marketing strategy is revising the marketing mix

Relate to Dawn
The revision of the marketing strategy has to be implemented, monitored, and controlled to ensure success

How well did you know this?
1
Not at all
2
3
4
5
Perfectly