Marketing

Question 1

What is Marketing?

Answer 1

Ongoing activities(A method) for business to reach target market

Question 2

The 5 steps of a marketing strategy

Answer 2

1. Scan your environment
   2.Determine your USP(unique selling proportions)
2. Budget for market campaign
3. Intercourse of the 7 p’s (Marketing mix)
4. Evaluation & correcting

Question 3

Name the life cycle of a business in order

Answer 3

Introduction
Growth
Maturity
Decline
x-axis is time
y-axis is sales

Question 4

The 7 Consumer rights outlined by CPA(Consumers protection Act)

Answer 4

1. Right against discriminator marketing practices
2. Right of privacy
3. Right to choose
4. Right to fair and honest dealing
   5.Right to fair and responsible marketing
5. Right to fair value, good quality and safety
   7.Right of disclosure information

Question 5

Branding

Answer 5

Everything the company want to stand for/be know for

Question 5

The 4 main categories of promotion

Answer 5

1.Advertising
2.Personal selling
3.Publicity
4.Sales premotions

Question 6

List the 7 p’s

Answer 6

Promotion
Place
Price
People
Physical evidence
Process
Product

Question 7

Brand expansion Vs Brand stretching

Answer 7

Expanding of already existing brand by presenting a product in order to expand the target market & Stretching already existing
brand by presenting a new product in trying to get a different target market

Question 8

The 3 steps of stimulus-response model of buyers behavior’s

Answer 8

1. Receive a stimulus external factor
2. The brain goes through a few processes
3. Response after product

Question 9

Franchising

Answer 9

A contract/agreement between the franchise (supplier) & the Franchisee(distributor)

Question 10

5 element that make a good brand

Answer 10

1. A distinctive voice
2. Trust
3. Clear identity
4. Innovation
   5,Relationship with consumers

Question 11

Trademark

Answer 11

A symbol, image, word, number , sigh (or a combination of it) as a way to step business apart from the rest