Marketing Flashcards
(18 cards)
Influences
Factors influencing customer choice
Consumer law
Ethical
Influences - factors influencing customer choice
PEGS Psychological Economic goverment sociocultural
Influences - consumer law
WIPD Deceptive and misleading advertising Price discrimination Implied conditions Warranties
Influences on marketing ethical
Truth, accuracy and good taste in advertising, products that may damage health, engaging in fair competition, sugging
Processes
(SMEIDI) Situational analsis Market research establishing market objectives Identifying target markets Developing marketing strategies Implementation, monitoring and controlling
Process - situational analysis
SWOT and product life cycle
Process - implementation, monitoring and controlling
Developing a financial forecast; comparing actual and planned results, revising the marketing strategy
Strategies
Market segmentation, product/ service differentiation and positioning Products Price including pricing methods Promotion Place/ distribution People processes and physical evidence E-marketing Global marketing
Strategies - products - goods and /or services
Branding
Packaging
Strategies - price including pricing methods
cost, market, competition based
Pricing strategies
Price and quality interaction
Pricing strategies
Skimming, penetration, loss leaders, price points
Strategies - promotion
Elements of the promotion mix
The communication process
Promotion - elements of the promotion mix
Advertising, personal selling and relationship marketing, sales promotion, publicity and public relations
Promotion - the communication process
Opinion leaders
Word of mouth
Strategies - place/ distribution
Distribution channels
Channel choice
Physical distribution issuees
Place/ distribution - channel chouce
Intensive, selective, exclusive
Place/ distribution
Physical distribution issues - transport, warehousing, inventory
Global marketing
Global branding Standardisation Customisation Global pricing Competitive positioning
