1.3 Marketing mix and strategy Flashcards
(15 cards)
1
Q
3 elements of design mix
A
function
aesthetics
cost
2
Q
2 concerns that may influence the design mix to change to reflect social trends
A
- concern over resource depletion: designing for waste minimisation, re-use and recycling
- ethical sourcing
3
Q
types of promotion (7)
A
- digital marketing
- public relations e.g. press release
- sales promotion
- advertising
- direct/ personal selling
- above the line promotion - involves advertising in the media
- below the line promotion - any form of promotion that does not involve advertising
4
Q
3 types of branding
A
- manufacturer/ corporate
- own-label brands
- product brands
5
Q
3 benefits of strong branding
A
- added value
- ability to charge premium prices
- reduced PED
6
Q
4 ways to build a brand
A
- USP/ differentiation
- advertising
- sponsorship
- social media
7
Q
3 new ways of branding and promotion that reflect social trends
A
- viral marketing
- social media
- emotional branding
8
Q
6 pricing strategies
A
- cost plus
- price skimming
- penetration
- predatory
- competitive
- psychological
9
Q
6 factors that determine the most appropriate pricing strategy for a particular situation
A
- number of USPs/ amount of differentiation
- PED
- level of competition in the business environment
- brand strength
- stage in product life cycle
- costs and the need to make a profit
10
Q
2 changes in pricing that reflect social trends
A
- online sales
- price comparison sites
11
Q
2 changes in distribution that reflect social trends
A
- online distribution
- changing from product to service
12
Q
2 extension strategies
A
- product
- promotion
13
Q
2 product portfolio tools
A
- boston matrix
- product life cycle
14
Q
what 4 businesses would need different marketing strategies
A
- mass markets
- niche markets
- B2B
- B2C
15
Q
3 ways businesses can develop loyalty
A
- USP
- customer service
- loyalty schemes
