U2O2 - Marketing A Business Flashcards
1
Q
what is marketing?
A
process of planning & executing the conception, pricing, promotion & distribution of ideas/goods/services to satisfy needs of customer/organisations.
2
Q
list 4 things that can be marketed
A
- goods
- services
- experiences
- events
- personalities
3
Q
what is a customer base?
A
a group of people who potentially or keep buying your product/service.
4
Q
what 4 things make up the customer profile?
A
- demographics
- behaviour & needs
- location & environment
- interests, activities, lifestyles, opinions, values
5
Q
marketing & business objectives (5):
A
- aim to make profit
- increase salesusing marketing strategies
- increase market share
- expand business size as a result of increased customer base
- maximise customer service
6
Q
3 performance indicators:
_______ analysis
A
- sales analysis
- market share analysis
- marketing profitability analysis
7
Q
what are performance indicators?
A
criterion used to evaluate the performance of the business.
8
Q
sales analysis meaning:
A
the use of sales data to evaluate the financial performance of marketing strategies, to understand trends/patterns/sales performance
9
Q
A
