LEARNING AIM D

Question 1

What are the 5 stages of product life cycle?

Answer 1

1. Development
2. Introduction
3. Growth
4. Maturity
5. Decline

Question 2

Name 6 common pricing strategies

Answer 2

1. Penetration
2. Skimming
3. Competitor-based
4. Cost-plus
5. Premium
6. Psychological

Question 3

What are the 4 main promotion channels?

Answer 3

1. Print
2. Digital
3. Broadcast
4. Traditional

Question 4

What are 3 key differences between B2B and B2C marketing?

Answer 4

1. Longer sales cycles (B2B)
2. Rational vs emotional decisions
3. Relationship-focused (B2B)

Question 5

How has digital technology changed marketing?

Answer 5

• Instant global communication
• Data-driven decisions
• 24/7 customer access
• Price transparency

Question 6

What does SWOT stand for?

Answer 6

Strengths
Weaknesses
Opportunities
Threats

Question 7

What are the 6 PESTEL factors?

Answer 7

Political
Economic
Social
Technological
Environmental
Legal

Question 8

What are the 4 Ansoff growth strategies?

Answer 8

1. Market penetration
2. Product development
3. Market development
4. Diversification

Question 9

What are the 4 Boston Matrix categories?

Answer 9

1. Stars
2. Cash cows
3. Question marks
4. Dogs

Question 10

What are the 7 Ps of marketing?

Answer 10

1. Product
2. Price
3. Place
4. Promotion
5. People
6. Process
7. Physical evidence

Question 11

What are the 5 stages of consumer buying process?

Answer 11

1. Need recognition
2. Information search
3. Evaluation
4. Purchase
5. Post-purchase evaluation

Question 12

What’s the difference between primary and secondary research?

Answer 12

Primary: New data (surveys, interviews)
Secondary: Existing data (reports, statistics)

Question 13

What are the 4 main market segmentation types?

Answer 13

1. Demographic
2. Geographic
3. Psychographic
4. Behavioral

Question 14

What does USP stand for?

Answer 14

Unique Selling Proposition

Question 15

What are 3 key branding elements?

Answer 15

1. Brand identity
2. Brand image
3. Brand equity