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10 Business Marketing Revision Flashcards | StudBud
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10 Business Marketing Revision
10 Business Marketing Revision
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Year 10 Marketing Revision
Flashcards
18 cards
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Questions
18
Answers
1
What is the purpose of the marketing plan?
Shows steps taken to achieve the marketing objectives
Shows the steps of the marketing mix
To help maximise a products potential
To ensure the business makes a profit
2
What does the following picture below define?
Premium Pricing
Price Skimming
Penetration Pricing
Competitive Pricing
3
What does the picture below define?
Target Market
Pricing Strategy
Advertising
Marketing Tactic
4
Which of the following situation poses a threat for businesses
Your product has been reviewed online as being too expensive
You only ship to Australia and not overseas
A competitor recalls a defective product
A competitor obtains a bank loan for expansion
5
What is being defined below?
Advertising
Market Research
Market Strategy
Marketing
6
What does the 'T' in the SWOT Analysis stand for?
Trade
Tactic
Threat
Target
7
"What you want people to think about your market activity" define what?
Market Positioning
Market Objectives
Current Market Position
Competitive Advantage
8
What is the difference between a Vision and Mission statement
Vision= what you strive for & Mission= how much it will make
Vision= what you strive for & Mission= how you will get it
Vision= what you strive for & Mission= company values
Vision= your prediction on sales & Mission= length of time
9
SMART Objectives are more likely to be achieved. What does SMART stand for?
Specific, Meaningful, Attainable, Realistic, True
Standard, Measurable, Attributes, Recalling, Timely
Specific, Meaningful, Attributes, Reviewable, Timely
Specific, Measurable, Attainable, Realistic, Timely
10
What does the definition and image below define?
Market Segment
Current Marketing Position
Marketing Tactic
Marketing Objective
11
What are external factors of a SWOT analysis
Opportunity and Threats
Strength and Opportunity
Weakness and Threats
Strength and Weakness
12
Identifying market segments helps a business to develop appropriate...
Vision Statements
Market Strategies
Marketing Tactics
Advertising
13
What do the 4Ps stand for?
Product, Price, Percentage, Promotion
Product, Price, Place, Percentage
Production, Purpose, Place, Price
Product, Price, Place, Promotion
14
What are business objectives?
Targets which are set up to help achieve a business' vision
A set of rules that all employees must obey
The mission statement
Opportunities for a business to expand
15
Supermarkets use marketing 'tricks' to entice customers to buy products. Which isn't a trick?
Supermarketshelves, storedisplay and impulse buys
Food samples
The use of colour
Pester Power
16
What are the 4 stages of the product life cycle?
Development, Growth, Renewal, Removal
Development, Growth, Decline, Renewal
Introduction, Development, Maturity, Renewal
Introduction, Growth, Maturity, Decline
17
What are the two missing terms to the definition below...
Marketing Plan and Marketing Tactic
Marketing Goal and Marketing Strategy
Marketing Strategy and Marketing Tactic
Target Market & Market Segmenting
18
What is being defined below?
Market Objectives
Market Plan
Marketing Mix
Target Market
