Marketing

Question 1

The action or business of promoting products or services to the public or other businesses

Answer 1

Marketing

Question 2

The 5 Ps (in service)

Answer 2

1) Product
2) Place
3) Promotion
4) People
5) Price

Question 3

Marketing Mix - Product

Answer 3

• Launch: How we are planning to introduce the product onto the market

Question 4

Marketing Mix - Place

Answer 4

• Distribution: high street retailers and mail order via website and catalogues
• Delivery: 5 five days by mail order or straightaway in shops

Question 5

Marketing Mix - Promotion

Answer 5

• Advertising: in children’s magazines

- Direct marketing: insert catalogue in parent marketing

Question 6

Marketing Mix - People

Answer 6

• Customers: educated, city-dwellers with pre-teen children, school teachers
• Competitors: they have a larger sales force to sell their products

Question 7

Marketing Mix - Price

Answer 7

• Premium pricing: 20% above market average for a CD-ROM

- Special deals: 15% discount for students

Question 8

The 4 Cs

Answer 8

1) Customer needs
2) Cost to user
3) Convenience
4) Communication

Question 9

The 4 As

Answer 9

1) Acceptability
2) Affordability
3) Accessibility
4) Awareness

Question 10

The 4 Cs - Customer needs

Answer 10

What does the customer need to solve a problem?

-> identify customer needs -> meet these needs

Question 11

The 4 Cs - Cost to user

Answer 11

Does the customer perceive the cost of the product at fair, or is it too expensive?

Question 12

The 4 Cs - Convenience

Answer 12

How convenient is it to find your product? Is it easy, or does the customer have to make an effort?

Question 13

The 4 Cs - Communication

Answer 13

How should you communicate with your customers?

Question 14

The 4 As - Acceptability

Answer 14

How acceptable is the product, and do people approve of the product?

Is it socially acceptable, fashionable and attractive?

Does the product respect the laws of the country? Is it legally acceptable?

Question 15

The 4 As - Affordability

Answer 15

Does the customer have enough money to buy the product? Can he / she afford the product?

Question 16

The 4 As - Accessibility

Answer 16

Is the product easy to access?

Is the product accessible for people with disabilities?

Question 17

The 4 As - Awareness

Answer 17

How many people know about, are aware of, the product?

Is awareness high?

Question 18

The 4 Os

Answer 18

1) Objects
2) Objectives
3) Organization
4) Operations

Question 19

The 4 Os - Objects

Answer 19

• What do you sell?
• How Is it manufactured, or made?
• Is it a high quality product, or Is it bottom end?

Question 20

The 4 Os - Objectives

Answer 20

• Revenue objectives concern the income you want to generate

- Price objectives concern the price you want to sell at

Question 21

The 4 Os - Organization

Answer 21

• How should you organize the sale and distribution of your product?
• Which distribution methods will work best?

Question 22

The 4 Os - Operations

Answer 22

Which kind of promotional operations, such as direct mail, will work best for the product?

Question 23

The steps a marketer takes in order to persuade customers to buy a product or service

Answer 23

AIDA

Question 24

AIDA

Answer 24

• Attention
• Interest
• Desire
• Action

Question 25

AIDA - Attention

Answer 25

Marketing must first attract the customers’ attention to the product. Customers become aware of a product and know it Is available

Question 26

AIDA - Interest

Answer 26

Marketing must create an interest in the product. Customers will develop an interest in the product.

Question 27

AIDA - Desire

Answer 27

Marketing must develop a desire to own or have the product so that customers actively want the product

Question 28

AIDA - Action

Answer 28

Marketing must prompt action to purchase, so that customers take steps to buy the product - for example by going to the shop or ordering it online.

Question 29

The 4 Ps

Answer 29

1) Product
2) Place
3) Promotion
4) Price