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Flashcards in 8 Marketing Deck (10):
1

Role of marketing definition

Management process of identifying,anticipating and satisfying customer requirement profitably

2

Role of marketing (3)

1.identify and understand customer needs
2.inform customers
3.increasing sales

3

What is market research ?

How a business collects information on whether their products or services will be bought
Important so time , money and effort are not wasted

4

Primary research (field)

Collecting and analysing original informations don data that has been planned and collected first hand
~ Examples
Questionnaires
Interviews
Trials
Focus groups

5

Secondary Research (desk)

Use of data and information that has already been collected and published by someone else
~ Examples
Census data
Websites
Internal data ( own past records )
Newspapers and magazines

6

What is qualitative data ? (Open questions)

Collected when opinion is needed
Opinions can be difficult to collate but give good detail

7

What is quantitative data ? (Closed questions)

Related to facts and numbers
Easier that qualitative

8

What is market segmentation ?

How the market of a product or service is divided

9

Why would a business segment a market ?

~ target a particular group

10

5 categories : market segmentation

Age
Gender
Income
Lifestyle
Location