Term 3 Topic 3.3 - Marketing function Flashcards
Name the 5 ACTIVITIES of marketing
1) Production
2) Pricing Policy
3) Distribution
4) Marketing Communication
5) Foreign Marketing
Name the 6 P’s of MARKETING
P / P / P / P / P / P /
1) Product
2) Promotion
3) Place
4) Price
5) Presentation
6) Personnel
Name the ELEMENTS of marketing
Locating the customer **
Standardising and grading **
Storage **
Transport **
Financing **
Risk bearing **
Buying & Selling **
Explain PRODUCT POLICY
> > Product DEVELOPMENT
>Product DESIGN
»Product PACKAGING
»>Trademark
Explain DISTRIBUTION POLICY
\\ CHANNELS of distribution
\\\ Intermediaries
\\\\ DIRECT distribution
\\\\\ INDIRECT distribution
Explain COMMUNICATION POLICY
Sales promotion
**Advertising
**Publicity
**Personal selling
Explain PRICING POLICY
..IMPORTANCE of pricing
… pricing TECHNIQUES
…. price DETERMINATION
……FACTORS influencing pricing
…….. price ADJUSTMENTS
The PRICING POLICY is divided into 2 sections, namely
1) Pricing techniques
2) Pricing determination
Name 4 TECHNIQUES for pricing
Cost-plus pricing
## Mark-up pricing
### Target pricing
#### Break-even pricing
What DETERMINES pricing?
a) cost price
b) market price
c) target price
d) final price
‘No employment contracts and no taxes paid’ = which sector does this belong to?
Informal sector
‘Formal employment with contracts and taxes paid by earners and business’ = which business sector does this belong to?
Formal sector
Marketing in the BUSINESS SECTORS consists of 2 sectors. Name them
1) Informal sector
2) Formal sector
Explain the TYPES of TECHNOLOGY used in marketing (4 types & mention an example of each)
1) Communication (email, cell phones)
2) Computers (email, e-marketing)
3) Media (TV, Radio’s, Electronic billboards)
4) Virtual images (3D reality imaging)
Foreign marketing consists of TWO sections, name them:
….(a)…. + …(b)…… = Foreign Marketing
a) Imports
b) Exports
What are the ADVANTAGES ++ of foreign marketing?
+ Reaches a larger TARGET market
++ Increase PROFITS
+++ Different TIME ZONES means business
never stops
++++ Benefit from advanced SYSTEMS in
DEVELOPED countries
+++++ Does not rely on LOCAL demand
What are the DISADVANTAGES – of foreign marketing?
- EMBARGOS (ban on trade) from certain
countries could limit imports
– Some imports have higher TAXES
— Import QUOTA (limits how many goods
can be imported)
—- EXCHANGE RATES : could be costly
—– Cost of TRANSPORTATION could be
costly if it must be couriered
——Goods can be DAMAGED (carrying the
costs)
——–INSURANCE on posted goods
(additional cost)
How do you ALIGN the production function with the foreign market?
a) Sell EXISTING products on foreign market
b) ADAPT EXISTING products to suit the
foreign market
c) Produce brand NEW products
What is the production processes which need to be adapted for the foreign market? It all affect PRODUCTION PROCESSES
@ Production SYSTEMS
@ Production PLANNING
@ Meeting a country’s SAFETY
REQUIREMENTS
@ QUALITY of product to compete with
foreign products
@ COSTING of products must be
competitive
List the FOUR stages of a product’s life cycle
Introduction -> growth -> maturity -> decline
Is this statement TRUE or FALSE (If false, provide the correct statement)
Demographics are the measured statistics of a population, e.g. the ages, gender and income levels of a group of people
True
Is this statement TRUE or FALSE (If false, provide the correct statement)
Standardisation is the process of giving a rating or label to a product to show its quality
False - it is called grading
Is this statement TRUE or FALSE (If false, provide the correct statement)
A trademark is a label on a package that states what goods it contains
False - a trademark is a specific logo or symbol that defines a product and that only the owner of that product may use
Is this statement TRUE or FALSE (If false, provide the correct statement)
Direct distribution is done when a manufacturer uses an intermediary to sell goods to consumers
False - this is indirect distribution
