Marketing Flashcards
What is a product led organisation
It is a business that concentrates solely on the production process and the product rather than what the customer wants.
What is a Consumer led organisation
A customer-orientated organisation is one which identifies what the consumer wants (through carrying out extensive market research) and tries to provide it.
What are the 4 types of consumer purchase
Habitual purchases
Limited decision making purchases
Extensive decision making purchases
Impulse purchases
What is consumer behaviour
consumer behaviour is about studying how individuals behave when making purchases and how this behaviour can impact on other individuals and wider society.
What are Habitual purchases
these require little involvement by the buyer, are bought frequently and generally fulfil a basic want
What are Limited decision making purchases
They are still relatively regular purchases, but require greater participation in the buying process eg. clothes.
What are Extensive decision making purchases
usually expensive, one-off long term purchases, which will involve detailed consideration by the buyer eg. a car, house or holiday.
What are Impulse purchases
items bought without prior thought
What are the two types of Market research
Field and Desk
What is field Research
where a researcher obtains information first-hand. This provides primary information which is up-to-date, collected for the specific purpose required and is not available to competitors.
What is desk research
where a researcher uses secondary information which can be gathered from a wide range of sources - for example, from the internet. It may also contain bias, which could invalidate any conclusions drawn from the data.
What is an advantages of doing a personal interview
Complex questions can be asked as the interviewer can explain exactly what the question means.
What is a disadvantage of doing a personal interview
Many people are reluctant to answer questions in the street or to allow strangers into their homes.
What is an advantage of a Postal survey
Relatively cheap way of surveying a large volume of potential respondents.
What is a disadvantage of a Postal survey
Response rate for this method of research is very low, even with incentives offered.
