Buisness marketing and PLC

Question 1

What is marketing?

Answer 1

It is goods & services

producer—-Activities—consumer

Question 2

What are the roles of marketing

Answer 2

1. sell what a buisness makes or supplies

2. manage the brand

Question 3

What are the 6 marketing activities?

Answer 3

1. research🕵🏻‍♀️
2. development
3. sales🏷
4. distrubution 📦
5. advertising
6. promotion

Question 4

What is branding?

Answer 4

it is all about…image

1. Brand name
2. logo or trademark
3. slogan

Question 5

What is a brand name?

Answer 5

group of words that distinguish the products of a business for example roots
it should…
stand out🧍🏻‍♀️
be memorable

Question 6

What is a logo? and 3 forms

Answer 6

A symbol associated with the business/product

1. monogram ex: KFC🍗🐔
2. visual symbol (line drawings ex: apple🍎
3. Abstract symbol (ex: Nike swoosh)✅

Question 7

What is trademark

Answer 7

Can be one of all

• word
• symbol
• design

Question 8

What is a slogan

Answer 8

Catchy advertising phrase ex…
Nike-just do it
Canadian blood services- it’s in you to give
when used for print or broadcast ads= tagline

Question 9

What is brand identification goal?

Answer 9

To identify brand with product in the minds of consumers

It’s all about competition

Question 10

What is brand identification

Answer 10

Everything about the product should be used consistently (name, logo, slogan) can also include…

• colours
• package design

Question 11

What is a product life cycle?

Answer 11

Impact of marketing measured:
-sales analysis
-consumer reaction to the brand
plc is the progress of the brand

Question 12

What is marketing success?

Answer 12

it is brand equity (value of the brand in marketplace)

Question 13

What is best marketing=s

Answer 13

+Brand awareness (known)
+Brand loyalty (prefer)
+Brand insistence (only)

Question 14

What are the 3 non-traditional product life cycle

Answer 14

1. fads
2. niches
3. seasonal

Question 15

What is fad

Answer 15

• Popular with a select market more than 14 years
• Short period of times more than a year
  ex: yoyo’s

Question 16

What is niches

Answer 16

Section of market:

• product dominate (ex: speciality parts for example tesla with cars 🚙)
• few competitors ( barriers to entry: patents, cost of R&D)

Question 17

What is seasonal

Answer 17

products popular at a specific time of year
ex: Christmas tree
requires careful inventory management

Question 18

What is good advertising?

Answer 18

AIDA.
Attention
Interest (=s read, watch, listen )
Desire (=want) 
Action (=sales)

Question 19

What are the 7 types of advertising?

Answer 19

\+Direct-to-home
\+Out-of-home
\+Radio
\+T.V
\+Newspaper
\+Magazine 
\+Internet

Question 20

What is market research?

Answer 20

Collect & analyse information about consumer groups 
depends on 
-info needed 
-how to collect 
-what to do with info

Question 21

What are the types of market research?

Answer 21

Consumer 
market 
motivation 
pricing
competitive 
product 
advertising

Question 22

Market research tool

Answer 22

secondary data (collected by others)

• websites
• Market research reports

Question 23

What is primary data

Answer 23

Collected for a specific purpose

• test marketing
• internal info sources
• surveys
• observations
• focus groups

Question 24

What are marketing concepts?

Answer 24

1. product concept=s 4P’s

2. Marketing concept=s 2C’s

Question 25

Product concept (1) 4Ps of marketing

Answer 25

1. Product 2. Place 3. Price 4. Promotion combined=s MARKETING MIX

Question 26

4Ps 1 product or service

Answer 26

1. quality (more customers) 2. design (way it looks) 3. features (materials, scent, size, or taste) 4. benefits (purposes)

Question 27

4Ps 2 price

Answer 27

Price sensitive due to competition (Ex: internet)

Question 28

4Ps 3 place

Answer 28

Paths of ownership as goods flow from producers/ manufacturers to the consumer

Question 29

Channels of distribution 1-2 place

Answer 29

1. direct (connect producers with consumers) 2. indirect (1 or more intermediaries) ex: importers, wholesalers, or retailers

Question 30

Channels of distribution 3 place

Answer 30

Speciality channels (i.e no retail store) - vending machines - telemarketing - catalogue sales - E-commerce - Door-to-door sales

Question 31

4Ps 4 Promotion

Answer 31

``` Goal- to sell a product +cupouns +Contests +Premiums +Samples +Special events ```

Question 32

Marketing concepts 2C's

Answer 32

2C's of marketing - competitive market - consumer market

Question 33

2C's competitive market

Answer 33

=s sellers of a specific product (expressed in total $ spent each year. ex: soft drinks Market shares= S % of market that a company or brand has EX: Coca-cola

Question 34

2C's competitive market segment

Answer 34

Market segment=s part of overall market with similar characteristics ex: flavoured diet segment competition among products direct (similar products -ex: movies) vs indirect (different products- ex car vs movies)

Question 35

2c's consumer market

Answer 35

People who buy products: 1. demographics 2. lifestyle

Question 36

2c's consumer market subtopic demographics

Answer 36

study of characteristics that categorise humans 1. Age 2. Gender 3. Family lifestyle 4. income level 5. Ethnicity & culture

Question 37

2c's consumer market subtopic Lifestyle

Answer 37

``` The way people live: -Values -Beliefs -motivation Influences what consumers buy ex: environment ```

Question 38

What should our business make & sell is a ------concept

Answer 38

Product

Question 39

Product development should include...

Answer 39

Quality, design features and benefits

Question 40

Buy one get one free is an example of

Answer 40

premium