topic 3- marketing Flashcards
1
Q
what is marketing ?
A
is identifying the customers wants and needs
- they try and anticipate these needs and wants to get ahead in the market
2
Q
what does a business build with a customers through marketing ?
A
a relationship which provides a link between the business and consumer which will try and get the customers to be loyal to the organisation
3
Q
what are the 5 marketing objectives ?
A
- market share
- market size
- brand loyalty
- sales volume/ sales value
- market sales and growth
4
Q
what is sales volume ?
A
the amount of sales which is expressed by the numbers of units sold
- business might want to increase
-easy to visualise
5
Q
what is a downside to sales volume objectives ?
A
it doesn’t tell you how much of money is coming in
6
Q
A
