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Marketing Process - Revision Flashcards | StudBud
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Marketing Process - Revision
Marketing Process - Revision
16 terms
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StudBud Administration
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Review key concepts from marketing process section. Final year in Business Studies
Flashcards
16 cards
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Practice quiz
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Questions
16
Answers
1
Ethical criticisms of marketing DO NOT include the following:
Stereotypical images of males and females
Deceptive country of origin labelling
Size of packaging which misleads contents
Creation of needs - materialism
2
A concentrated or a micro market narrowly selected from a target market segment.
Mass Market
Niche Market
Target market
Consumer market
3
Bait and switch advertising involves:
Selling the same product at different prices.
Advertising products with specific qualities
Not advertising prices of products
Advertised products run out and customers shown higher price
4
The business wants to sell its products to 35-45 yr old females. What stage in the MP is this?
Identifying target markets
Establishing marketing objectives
Implementing
Secondary target market
5
An analysis of the external business environment involves identifying:
Threats only
Opportunities only
Opportunities and Threats
Strengths only
6
Which stage in the marketing process do you design a new promotional campaign?
Identify target market
Develop marketing strategies
Market research
Implement, monitor and control
7
A business wants market share to rise by 35% in 2022. What stage in the marketing plan is this?
Developing marketing strategies
Controlling
Implementing
Establishing marketing objectives
8
The following information is gathered when conducting a situational analysis.
Competitors
Goals
Economic Environment
Skills of employees
9
This Act protects consumers and regulates trade practices that restrict competition.
Consumer and Competition Act 2010
The Trade Practices Act
Competition and Consumer Act 2010
Australian Competition and Consumer Commission (ACCC)
10
This occurs when the market is divided into groups of people who share common characteristics.
Market Segmentation
Mass Marketing Approach of segmentation
Identifying Target Market
Niche Market Approach of segmentation
11
Which stage in the marketing process do you examine profits and if negative review objectives?
Implement and monitor
Monitor and control
Establish market objectives
Implement and control
12
Which stage in the marketing process collects information about present and potential customers?
situational analysis
setting marketing objectives
develop marketing strategies
market research
13
The marketing mix element which refers to the way the product gets to the customer is:
Product
Promotion
Position
Place
14
Which stage in the marketing process do you compare sales figures with the target set?
Market research
situational analysis
Monitoring
Identifying Target markets
15
Psychological influences on buying behaviour include (more than one answer):
Perception
Motives
Attitudes
Social class
16
This term describes the stages a product passes through in its lifetime.
Business life cycle
Life cycle
Product life cycle
Business cycle
