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.

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2
Q

list 4 things that can be marketed

A
  • goods
  • services
  • experiences
  • events
  • personalities
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3
Q

what is a customer base?

A

a group of people who potentially or keep buying your product/service.

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4
Q

what 4 things make up the customer profile?

A
  • demographics
  • behaviour & needs
  • location & environment
  • interests, activities, lifestyles, opinions, values
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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
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6
Q

3 performance indicators:

_______ analysis

A
  • sales analysis
  • market share analysis
  • marketing profitability analysis
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7
Q

what are performance indicators?

A

criterion used to evaluate the performance of the business.

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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

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9
Q
A
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