Topic 9

Question 0

What is Market segmentation?

Answer 0

dividing a market into direct groups of consumers who might require separate products/services or marketing mixes

Question 1

What are the steps in the marketing planning process?

Answer 1

Situation analysis (C-PEST analysis)
Segmenting the market
Targeting and positioning
Setting objectives – SMART objectives
Selecting generic marketing strategies
Designing the marketing mix

Question 2

How can managers segment the market?

Answer 2

Geographic
Demographic
Psychographic
Behaviour

Question 3

What is event positioning?

Answer 3

How the event compares in terms of cost and quality

Question 4

What is Ansoff’s Product-Market Matrix?

Answer 4

Market Penetration (existing product and market)
Market Development (new market, same product)
Product Development (new product, same market)
Diversification (new product and market)

Question 5

What is the Event marketing mix – 5Ps?

Answer 5

Product
Place
People
Price 
Promotion

Question 6

What are 6 types of ticketing systems?

Answer 6

At the door
Box office - internally managed
Centralised booking system
Free tickets
Personal selling
Retail outlets

Question 7

What are some pricing options for events?

Answer 7

Single price ticketing
Tired price ticketing
Promotions, giveaways
Free entry
Free tickets
Free entry, charge for services

Question 8

What are the 3 approaches to pricing?

Answer 8

Revenue oriented
Operation oriented - supply and demand
Market based - may be packaged