Marketing

Question 1

what activities are involved in marketing

Answer 1

• Carrying out market research in order to find out what customer want to buy.
• Finding the right price to sell the product at
  -Developing and designing a products that meets customers needs and wants.
• Deciding the right price to charge for the products.
• Deciding on the best methods of promotion for products and making customers aware of the product.

Question 2

Market segment.

Answer 2

a market segment is a group of buyers with similar characteristics.

Question 3

Types of market segment

Answer 3

• age
• location
• income
• family size
• lifestyle

Question 4

field research meaning

Answer 4

this involves finding out information first hand (primary information) directly from the public/consumer

Question 5

advantages of field research

Answer 5

information can be gathered specific to your purpose.

information is up to date

Question 5

disadvantages to field research

Answer 5

it is more expensive to gather compared to desk research

it is more time-consuming compaired to desk research

people may not give truthful answers when responding.

Question 5

advantages of desk

Answer 5

it is cheaper to access existing information rather than having to collect brand new information

it is less time consuming

Question 6

desk research definition

Answer 6

this uses secondary information, which is information that is already available either outside the organisation or inside

Question 6

method of field research

Answer 6

telephone or postal surveys

consumer panels

personal interview

test marketing