Marketing - Processes

Question 1

what are the 6 mktg processes?

Answer 1

SMEIDI
- situational analysis
- market research
- establishing marketing objectives
- identifying target markets
- developing marketing strategies
- implementation, monitoring, controlling

Question 2

what is a situational analysis and what are the 2 parts of a SA

Question 3

what is a SWOT analysis

Question 4

what is the product life cycle

Question 5

characteristics of the introduction stage of the product life cycle

Question 6

characteristics of the growth stage of the product life cycle

Question 7

characteristics of the maturity stage of the product life cycle

Question 8

characteristics of the decline stage of the product life cycle

Question 9

what are some reasons for product decline

Question 10

define market research and why it is importance

Question 11

differentiate between primary and secondary data (with examples)

Question 11

what are the three steps of the market research process

Question 12

differentiate between internal and external data (with example)

Question 13

define marketing objectives

Question 14

define market share

Question 15

why would a business expand their product mix

Question 15

define product mix

Question 16

define customer service

Question 17

define target market and differentiate between primary and secondary target market

Question 18

why would a business identify a target market

Question 19

what is a mass market approach

Question 20

what is a market segmentation approach

Question 21

what is a niche market approach

Question 22

what are marketing strategies (more in next chapter)

Question 23

what is monitoring

Question 24

what is implementation

Question 25

what is controlling

Question 26

steps in developing a financial forecast

Question 27

what does marketing ROI stand for and what does it measure

Question 28

how is marketing ROI calculated