marketing

Question 1

what is distribution

Answer 1

the efficient management and acquisition of raw materials by the factory and the movement of products from the manufacturer to B2B users and consumers

Question 2

what is an intermediary

Answer 2

someone that acts between the manufacturer and final consumer

Question 3

name 4 types of intermediaries

Answer 3

agents/brokers
industrial distributors
wholesalers
retailers

Question 4

what is an example of a traditional distribution channel

Answer 4

wholesalers, retailers

Question 5

what is an example of a non-traditional distribution channel

Answer 5

internet, mail order, infomercials

Question 6

what is the function of a distribution channel

Answer 6

ease the flow of goods

Question 7

give 4 examples of non-store retailing

Answer 7

vending machines
direct selling
direct response marketing
internet

Question 8

give 5 examples of the factors influencing a store’s atmosphere

Answer 8

employee type and density
merchandise type and density
fixture type and density
sound
odors

Question 9

what is promotion

Answer 9

an attempt by marketers to inform, persuade, or remind consumers to influence their opinion or elicit a response

Question 10

what are the goals of promoting (7)

Answer 10

• create awareness
• getting customers to try products
• providing info
• keeping loyal customers
• increasing the amount and frequency of use
• identifying target customers
• educating the customer

Question 11

what are the 4 traditional and 2 newer elements of promotional mix (IMC)

Answer 11

1. traditional advertising
2. personal selling
3. sales promotion
4. public relations
5. PLUS social media
6. PLUS e-commerce

Question 12

what does IMC stand for

Answer 12

integrated marketing mix

Question 13

what is advertising

Answer 13

any paid form of non personal presentation by an identified sponsor

Question 14

what are 4 aspects to consider when selecting advertising media

Answer 14

CPM (cost per thousand rand)
reach
frequency
audience selectivity

Question 15

what are the 5 benefits of personal selling

Answer 15

provides detailed explanation/demonstration
sales messages can be adapted
can be directed only to qualified prospects
can be designed around smaller audiences, therefore less expensive
more effective in terms of closing the deal

Question 16

what is the aim of sales promotion

Answer 16

to influence short-term behaviour

Question 17

look at types of consumers and sales promotion goals table

Answer 17

…

Question 18

what is public relations

Answer 18

could include techniques such as lobbying, event planning, acting as a press agent, managing internal communication, and coordinating crisis management for communications

Question 19

what is marketing

Answer 19

identifying the needs of customers and providing goods and services that meet expectations

Question 20

what is marketing concept

Answer 20

focusing on the needs and wants of customers and integrating all of the business’ activities

Question 21

what is value

Answer 21

the ratio of benefits for the customers the the sacrifices necessary to obtain those benefits

Question 22

what is satisfaction

Answer 22

meeting expectations and establishing long-term, mutually satisfying buyer-seller relationships

Question 23

name and explain CRM

Answer 23

customer relationship management. using info about customers to create marketing strategies that develop and sustain desirable customer relationships

Question 24

what is customer lifetime value

Answer 24

a combo of purchase frequency, avg value of purchases, brand -switching patterns over the entire span of a customer’s relationship with a company

Question 25

what are the key concepts a well crafted marketing strategy focuses on (6)

Answer 25

environmental scanning competitive advantage segmenting the market defining the target market objectives development of the marketing mix

Question 26

what is competitive adv

Answer 26

a set of unique features of a business and its products that are perceived by the target market as significant and superior to those of the competitors

Question 27

what is segmentation

Answer 27

provides the foundation by identifying distinct consumer groups

Question 28

what is targeting

Answer 28

picks the best segment to pursue based on strategy. target markets are just selected clusters from broader segmentation

Question 29

what are the 4 P's

Answer 29

PRODUCT PRICING PLACE PROMOTION

Question 30

what are the 6 elements to consider when working with product

Answer 30

branding packaging colors warranty accessories service programs

Question 31

explain how pricing is determined

Answer 31

its based on the demand for the product and price of producing the product

Question 32

what are the elements to consider when determining place

Answer 32

physical location inventory systems how many stores? luxury vs staple products

Question 33

what are the 6 ways to convince the customer to a purchase a product (promotion)

Answer 33

personal selling traditional advertising public relations sales promotion social media e-commerce

Question 34

what does market segmentation refer to

Answer 34

you cant target the whole market, therefore sub-dividing the market in smaller segments

Question 35

what are the 5 key forms of market segmentation

Answer 35

demographic geographic psychograhic benefit volume

Question 36

look at table on bases of market segmentation

Answer 36

...

Question 37

what are the 6 different types of business products

Answer 37

installations accessories component parts and materials raw materials supplies services

Question 38

look at the table of PLC as a management tool

Answer 38

...

Question 39

what are the 7 pricing statergies

Answer 39

price skimming penetration pricing leader pricing pricing of services bundling odd-even pricing prestige pricing