Marketing Syllabus

Question 1

ROLE - Production, Selling, Marketing Approaches

Answer 1

Production - 1820s to 1920s
Selling - 1920s to 1960s
Marketing - 1960s to Present

Question 2

ROLE - Types of Markets

Answer 2

RIMNIC - Resource, Industrial, Mass, Niche, Intermediate, Consumer

Question 3

INFLUENCES - Factors Affecting Consumer Choice

Answer 3

PEGS - Psychological, Economic, Government, Sociocultural

Question 4

INFLUENCES - Consumer Laws

Answer 4

WIPD - Warranties, Implied Conditions, Price Discrimination, Deceptive and Misleading Advertising

Question 5

INFLUENCES - Ethical

Answer 5

TAPES - Truth, Accuracy, Products that may damage health, Engaging in fair competition, Sugging

Question 6

PROCESS

Answer 6

SMEIDI - Situational Analysis, Market Research, Establishing Market Objectives, Identifying Target Markets, Developing Market Strategies, Implementation, Monitoring and Controlling

Question 7

STRATEGIES - Market Segmentation, Product/Service Differentiation, Positioning

Answer 7

Segmentation - Dividing total market into segments
Differentiation - ECCS (environmental, customer service, convenience, social issues)
Positioning - comparing your product to that of your competitors

Question 8

STRATEGIES - Product

Answer 8

Branding, Packaging

Question 9

STRATEGIES - Price

Answer 9

Methods - Cost, Market, Competition-Based
Strategies - Skimming, Penetration, Loss Leader, Price Points
Price and Quality Interaction - Products of superior quality sold at higher prices

Question 10

STRATEGIES - Promotion

Answer 10

Elements of Promotion Mix (PRAPPS) - Personal Selling, Relationship Marketing, Advertising, PR, Publicity, Sales Promotions
Communication Process - Opinion Leaders, Word-of-Mouth

Question 11

STRATEGIES - Place

Answer 11

Distribution Channels - Routes taken to get the product from the business to consumer
Channel Choice (ISE) - Intensive, Selective, Exclusive
Physical Distribution Issues - Warehousing, Transport, Inventory

Question 12

STRATEGIES - 3Ps: People, Processes and Physical Evidence

Answer 12

People - Uses appropriately trained and recruited employees to perform services
Processes - A set of processes to perform a task
Physical Evidence - Environment in which the service is delivered

Question 13

STRATEGIES - e-Marketing

Answer 13

The practice of using the internet to perform marketing activities

Question 14

STRATEGIES - Global Marketing

Answer 14

2GSCC - Global Branding, Global Pricing, Standardisation, Customisation, Competitive Positioning

Question 15

ROLE - Strategic Role of Marketing Goods and Services

Answer 15

To translate the financial goal of profit into a reality.