Unit 3 - Marketing Managment Flashcards
1
Q
What are the 7p?
A
People
Place
Product
Price
Process
Physical environment
Promotion
2
Q
What does stp stand for?
A
Segmentation, targeting and positioning
3
Q
What is segmentation?
A
Putting people into groups based of characteristics.
Demographic, income, behavior and geographical
4
Q
What is targeting?
A
Targeting is when a business decides what market they want to operate in
5
Q
What is positioning?
A
Positioning is where a business places itself against other competitors. E.g market mapping
6
Q
What are the 5 marketing objectives?
A
Sales volume and value
Market share
Sales growth
Market share growth
