Unit 2 AOS 2

Question 1

Define Marketing

Answer 1

Is the process of implementing strategies to price, promote, and distribute products to current and potential customers.

Question 2

Explain what a marketing plan is

Answer 2

A strategy to invest money into develpoping, promoting and testing your product to gain publicity and increase your business sales

Question 3

What is a customer profile and what are the three maina spects of them

Answer 3

A customer profile is database that lists key demographics, interests, and behaviors of a businesses target customers.
The thrre main aspects of a customer profile is
1. Demographic characteristics
2. Psychograaphic characteristiocs
3. Geographic characteristics

Question 4

busainess objectives

Answer 4

Increasing sales
increasing market share
expanding the size of a business

Question 5

Define Brand Identity

Answer 5

Is the unique set of values a business seeks to portray

Question 6

Define market research

Answer 6

The process of gathering information to assist business owners in making informed decisions about the marketing of a business.

Question 7

Define primary and secondary data

Answer 7

Primary data is facts and figures collected from original sources, whereas secondary data is infromation that some other person, business or organisation has already collefcted.

Question 8

define market dimensions and market segmentation

Answer 8

Market dimensons refer to the characdteristics of target markets of a business or product. Market segmentation is dividing the total market into grops who share similiar characteristics.
specific elements of market segmentation are geographic, demographic, psychographic and behavioural.

Question 9

Identfiy the 7 P’s of marketing

Answer 9

Product: A good or service
Price: amount of money expected, required, or given in payment for a product or service
Place: Where the products and services of a business are available.
Promotion: the methods used by a business to inform, persuade, and remind a target market about its product.
People: anyone directly or indirectly involved in the business side of the enterprise.
Process: the methods and procedures involved in delivering a product or service to customers.
Physical evidence: everything that a customer sees when interacting with your business

Question 10

list customer relation strategies

Answer 10

Providing quality customer service
Seeking customer feedback
Complaints, returns and refunds
Loyalty programs
Online presence
Cater to multicultural market