Topic 7 Flashcards
What is marketing
methods to sell a product
What are the 3 aims of marketing
improve quality of accounts, increase cross selling, increase brand awareness
What is a marketing material
the information of a product
Name an advantage of leaflet advertising
physical product
Name a disadvantage of leaflet advertising
specific target
Name an advantage of mail advertising
can be targeted
Name a disadvantage of mail advertising
seen as ‘junk mail’
Name an advantage of film advertising
reaches larger audience
Name a disadvantage of film advertising
costly
What is an olygopoly
when a small amount of businesses control a market
Name 4 factors which influence advertisment
cost, targetability, objective, economic climate
what is the advertising standards authority
the UK’s independant regulator of advertising across all media
What is brand awarness
recognition of a brand’s produts and qualities by current and potential customers
what is a consolidation laon
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
what is the economic climate
the state of the economy at a given time
what happens in a good economic climate
people are more inclined to spend money and invest
what happens in a poor economic climate
people are less likely to spend money and invest
what is gross domestic product
the total value of goods produced and services provided in a country in one year
what is market segmentation
splitting up the whole market smaller segments within which customers share particular features
what is market segments
groups of customers sharing distinct features in terms of age, income, lifestyle etc
what would an effective marketing campaign for a building society result
placing large deposits for a long period of time
what is targeting particular gorups of customers in a market known as
segmentation
The most useful type of segmentation for financial services providers is one that defines people by their…
product buying behaviour
what is a feature of FCA rules that apply to advertising on the internet
as strict as those for other forms of advertising
