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BM: Unit 2 - AOS 2 (Marketing the Business) Flashcards | StudBud
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BM: Unit 2 - AOS 2 (Marketing the Business)
BM: Unit 2 - AOS 2 (Marketing the Business)
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Flashcards
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Questions
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Answers
1
Analysing age, employment, income is what type of segmentation?
demographic
behavioural
psychographic
geographic
2
a niche market is
consists of primary production
a small market with buyers who have specific need/wants
where there is a huge demand for product
where wholesalers and retailers operate
3
The biggest marketing research mistake is
only doing secondary research
only doing primary research
spending too much money on research
not doing any research
4
the product mix refers to
the pricing strategies used to sell products
range of products offered by a business
how products are positioned against competitors
the number of sales of each product
5
What is an advantage of conducting interviews?
used to measure reactions to new products
cost effective
detailed and indepth responses
quick, easy, cheap
6
A particular group of consumers at which a product is aimed is what?
product market
market segment
target market
advertising market
7
What is an example of primary research?
sales data
media articles
interview
government publications
8
Which strategy aims to attract buyers offering low prices
price skimming
target based pricing
penetration pricing
bundle pricing
9
What makes Coca Cola so successful?
The Colour Red
It tastes so good
loyal employees
The strength of the brand
10
The most important intangible benefit of a product is customer service
false
true
11
what are the main methods of market research?
primary
tertiary
secondary
qualitative
12
what would be an example of intangible product
basketball
cleaning services
phone
app
13
stages of product life cycle
development, intro, maturity, decline, end
intro, growth, maturity, decline, renewal
intro establishment, renewal, decline, extension
intro, growth, maturity, decline, extension
14
what is the qualitative research?
based on opinion and feeling
based on stats
data grouped into four
Hugh's favourite food
15
SMART stands for
out smarting your competitor
specific measurable achievable realistic and timed
highly intelligent
solution, motion, action, reaction, time
16
price skimming
sells multiple products for lower rate than if bought solely
setts rates high then lowering
encourages customers to respond with emotion
attracts the most price conscious customer
17
product marketing mix includes
positioning
branding
product identification
packaging
18
What are the key components of a marketing plan?
executive plan, competitor analysis, evalation
Objectives, target market, marketing mix, evaluation
product, price, place, promotion
objectives, target mkt, competitors, mkting mix, evaln
19
Which is not a marketing objective?
increasing sales
raising awareness about product
Attracting new customers
attracting competition
20
What is false or misleading advertising?
offering cash backs
bundling products
making vague statements
not including important information about the product
