Topic 7

Question 1

What is marketing

Answer 1

methods to sell a product

Question 2

What are the 3 aims of marketing

Answer 2

improve quality of accounts, increase cross selling, increase brand awareness

Question 3

What is a marketing material

Answer 3

the information of a product

Question 4

Name an advantage of leaflet advertising

Answer 4

physical product

Question 5

Name a disadvantage of leaflet advertising

Answer 5

specific target

Question 6

Name an advantage of mail advertising

Answer 6

can be targeted

Question 7

Name a disadvantage of mail advertising

Answer 7

seen as ‘junk mail’

Question 8

Name an advantage of film advertising

Answer 8

reaches larger audience

Question 9

Name a disadvantage of film advertising

Answer 9

costly

Question 10

What is an olygopoly

Answer 10

when a small amount of businesses control a market

Question 11

Name 4 factors which influence advertisment

Answer 11

cost, targetability, objective, economic climate

Question 12

what is the advertising standards authority

Answer 12

the UK’s independant regulator of advertising across all media

Question 13

What is brand awarness

Answer 13

recognition of a brand’s produts and qualities by current and potential customers

Question 14

what is a consolidation laon

Answer 14

a loan used to pay off a numeber of different debts, meaning that there is only one payment to make each month, to the loan company

Question 15

what is the economic climate

Answer 15

the state of the economy at a given time

Question 16

what happens in a good economic climate

Answer 16

people are more inclined to spend money and invest

Question 17

what happens in a poor economic climate

Answer 17

people are less likely to spend money and invest

Question 18

what is gross domestic product

Answer 18

the total value of goods produced and services provided in a country in one year

Question 19

what is market segmentation

Answer 19

splitting up the whole market smaller segments within which customers share particular features

Question 20

what is market segments

Answer 20

groups of customers sharing distinct features in terms of age, income, lifestyle etc

Question 21

what would an effective marketing campaign for a building society result

Answer 21

placing large deposits for a long period of time

Question 22

what is targeting particular gorups of customers in a market known as

Answer 22

segmentation

Question 23

The most useful type of segmentation for financial services providers is one that defines people by their…

Answer 23

product buying behaviour

Question 24

what is a feature of FCA rules that apply to advertising on the internet

Answer 24

as strict as those for other forms of advertising

Question 25

who awards the crystal mark

Answer 25

plain english campaign

Question 26

what do firms competing under conditions of an oligopoly tend to not compete on

Answer 26

price

Question 27

what is the most expesive advertising media

Answer 27

tv

Question 28

where do credit unions tend to advertis

Answer 28

locally

Question 29

what organisations emphasises its mutuallity in advertising

Answer 29

nationwide

Question 30

who is the advertising industry policed by

Answer 30

the advertising standards authority

Question 31

what does a small print in a contract describe

Answer 31

the legal terms and conditions and technical details