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Business > Comp 3 LA a > Flashcards

Comp 3 LA a Flashcards

1
Q

Promtional mix

A

Range of techniques used to communicate with existing and potential customers, to inform/persuade purchases.

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2
Q

Media

A

Form of mass communication which can be used to reach large amounts of people.

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3
Q

Medium

A

How an enterprise chooses to communicate with its market.

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4
Q

Message

A

What the enterprise is communicating.

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5
Q

Advertising

A

Enterprise pays for space to communicate with the public.

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6
Q

Sales promotion

A

An incentive for a period of time to make a purchase.

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7
Q

Personal selling

A

An enterprise contacts potential customers directly.

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8
Q

Public relations

A

Placing product information in the media – for free.

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9
Q

Direct marketing

A

Enterprise communicates directly with the customer.

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10
Q

Business to consumer market (B2C)

A

B2C – a business sells direct to the customer.

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11
Q

Business to business market (B2B)

A

B2B – a business sells direct to another business.

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12
Q

Market segmentation

A

Process of analysing the whole market and splitting into different segments according to customer needs/wants.

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13
Q

Demographic segmentation

A

Segmentation by population characteristics.

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14
Q

Geographic segmentation

A

Segmentation by location of customers.

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15
Q

Psychographic segmentation

A

Segmentation by social class, attitude, lifestyle, personality.

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16
Q

Behavioural segmentation

A

Segmentation by how or why customers relate to the product.

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17
Q

Budgetary constraints

A

Amount of funds available to the enterprise to spend on the promotional mix.

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18
Q

Target market

A

Characteristics of existing and potential customers.

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19
Q

Moving images and video

A

Where? TV, Cinema, Youtube.

What for? Products that have moving parts.

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20
Q

Print

A

Where? Newspapers, magazines, billboards.

What for? To reach large numbers of people.

21
Q

Ambient

A

Where? Public spaces eg: on a bus side.

What for? Catching people’s attention.

22
Q

Digital

A

Where? Websites, text, email.

What for? Reach people very quickly.

23
Q

Audio

A

Where? Radio, Spotify.

What for? Talk to customers in a low cost way.

24
Q

Coupons

A

Offer a discount or free gift with next purchase.

25
Q

Competitions

A

Chance to win a prize when a purchase is made.

26
Q

Money off/discount

A

% off the original price.

27
Q

Loyalty schemes/incentives

A

Reward loyal customers with points which can be used for future purchases or a free gift.

28
Q

Free samples

A

Try it before you buy it.

29
Q

Buy one get one free - BOGOF

A

Basically a 50% discount as 2 for the price of 1.

30
Q

Face to face

A

Listen and watch customer reaction and change approach to make a sale.

31
Q

Telephone

A

From a call centre to make a sale. Customer can call to make an enquiry.

32
Q

Email

A

Give greater detail about the product/service.

33
Q

Video or web conferencing

A

See customer reactions, can demonstrate the product, can send further information via a link.

34
Q

Press release

A

An article written about the product/service shared with media for free for it to be published.

35
Q

Exhibitions

A

Similar enterprises display their products in the same venue.

36
Q

Promotional stunts

A

One time event to catch people and media attention.

37
Q

Sponsorship

A

An enterprise pays to have its brand or product displayed at an event or worn by a team or celebrity.

38
Q

Direct mail

A

Leaflets, brochures, letters mailed directly to new or existing customers.

39
Q

Mail order catalogues

A

Show photos of products and customers can browse through them.

40
Q

Magazines

A

To inform customers about the latest developments of their products/services.

41
Q

Telemarketing

A

Also known as cold calling – to encourage a customer to make a purchase.

42
Q

Digital mail

A

Using email or text to contact customers.

43
Q

Age

A

Different age groups need different products.

44
Q

Gender

A

Men and women have different tastes/needs.

45
Q

Income

A

Higher income – spend more, lower spend less.

46
Q

Social class

A

Based on income/occupation of a person.

47
Q

Ethnicity

A

Taking account of cultural differences.

48
Q

Religion

A

Different religions have different tastes.

49
Q

Family size

A

Larger families will buy in bulk.

Business (13 decks)

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