Sales & Marketing

Question 1

Types of Market

Answer 1

Physical Market
Virtual Market

Question 2

What are the 7P’s marketing mix

Answer 2

Price
Promotion
Physical Environment
People
Product
Process
Place

Question 3

What are the 7P’s marketing mix

Answer 3

Price
Promotion
Physical Environment
People
Product
Process
Place

Question 4

What is the market

Answer 4

The group of consumers or organization that is interested in the product, has the resources to buy the product and is permitted by law to acquire the product

Question 5

List and explain Classification of the market

Answer 5

Potential Market - Population with interest of the product.
Available Market - Potential market with means to buy the product
Qualified Available - Available with qualified means.

Question 6

What is marketing segmentation?

Answer 6

Market segmentation is a strategy which involves dividing a broad target market into subsets of consumers, businesses who have or perceived to have common interest in your product and implement strategies to target them.

Question 7

What is market research?

Answer 7

This involves collecting and analyzing information about your market or potential market.

Question 8

Types of research

Answer 8

Desk research
Field research
Commercial Research

Question 9

Explain desk research

Answer 9

This is using existing info from the internet & industry publications. Also known as primary research.

Question 10

What is field research

Answer 10

Gathering the information using libraries, surveys, interviews, questionnaires, focused groups

Question 11

What is field research

Answer 11

Gathering the information using libraries, surveys, interviews, questionnaires, focused groups. Also regarded as secondary research

Question 12

What is commercial resarch agencies

Answer 12

This involves hiring external organization that carry out research.

Question 13

What are marketing analysis tools

Answer 13

These are tools used to examine and evaluate the ‘Market’

Question 14

Mention 3 Market Analysis Tools

Answer 14

PESTEL Analysis
SWOT Analysis
Competitive Analysis

Question 15

Describe the PESTEL Analysis.

Answer 15

This is a framework for analyzing macro-environmental factors used for scanning the environment for strategic and marketing purpose

Political
Economic
Social
Technology
Environmental
Legal.

Question 16

Describe SWOT Analysis

Answer 16

This is the structured planning method used in evaluating the internal strengths, weaknesses; external opportunities and threats involved in an idea or project.

Question 17

Describe Competitive analysis

Answer 17

This is critical marketing and strategic management tools used in evaluating strengths and weaknesses of current and potential competitors in order to establish marketing communication strategies for ideas, projects.

Question 18

What is communication?

Answer 18

The means of sending or receiving info by speaking, writing or using some other mediums whether offline or online. There are of two types: verbal and non-verbal.

Question 19

What is marketing communication?

Answer 19

This is described as messages and related media used in communicating with the market.

Question 19

What is marketing communication?

Answer 19

This is described as messages and related media used in communicating with the market.