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10 Business Studies > Marketing Activities > Flashcards

Marketing Activities Flashcards

1
Q

Define marketing

A

Include all the activities required to get the product from the producer to the consumer

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2
Q

List the auxiliary services of marketing

A
  1. market research
  2.  finance
    3 insurance
  3. transports
  4. Storage
    6 collection and distribution
    7 grading and standardised
    8 selling
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3
Q

name the purpose of market research

A

•  identify target market – age, income, gender
• investigate size of market
• determine if potential customers need and want/willing to buy
• and basically price is willing to pay
• effective method and pace of distribution
• different methods of communication

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4
Q

Name the method of market research

A

• telephonic – snake that random and asked questions
• questionnaires – mailed
• personal interviews
• social media – Facebook Twitter Instagram

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5
Q

Define consumerism

A

The ability of consumers to influence the actions of business when they put pressure on organisations to do what is considered ethical

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6
Q

What do you members of society have the responsibility of?

A

Reduce our pollution by recycling and put pressure on business

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7
Q

How can individuals put pressure on businesses in consumerism?

A

Only support businesses that make products or delivery services in an ethical manner

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8
Q

What is considered ethical in consumerism?

A

Alex inviting nature, people or animals

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9
Q

What can consumers join in consumerism?

A

Join auto support organisations that act as watchdog over large corporations 

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10
Q

When was the consumer protection act (68 of 2008) sign?

A

24th of April 2009

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11
Q

List the aims of the consumer protection act (68 of 2008)

A

• protect consumers from an ethical market
• follow the lead of first world countries and align with the United Nations and European community guidelines – consumer protection
• Promotion advance the social and economical welfare
• assist historically disadvantage persons – fulfilling rights

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12
Q

How can the aims of the consumer protection act be achieved?

A

• defining consumer and marketing related terminology
• protecting the economic interest of cons
• improving access and quality of information – make informed choices
• protect consumers from hazards
• developed effective means of redress
• promote consumer education
• enter freedom of consumers to form groups – promote common interest
• promote consumer participation – decision-making

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13
Q

Define marketing management

A

Or decisions regarding marketing activities that are aimed at achieving the goals of the enterprise

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14
Q

Name the variables in the marketing system

A
  1. Manageable variables
  2. Semi-manageable variables
  3. Non-manageable variables
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15
Q

What are manageable variables?

A

Direct control of marketing manager

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16
Q

What are semi manageable variables?

A

Influenced by marketing manager

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17
Q

What are non-manageable variables?

A

Exist in external environment

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18
Q

Define consumer good

A

A product market with the aim of satisfying the need of the final consumer

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19
Q

Name the different types of consumer goods

A
  1. Convenience goods
  2. Select good/shopping goods
  3. Speciality goods
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20
Q

What are convenient good?

A

Purchase with little difficulty as possible and don’t spend a lot of money and time. It is not very valuable and brand seldom differ in price. Not brand loyal

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21
Q

What are selected/shopping goods?

A

Purchase after careful consideration of price, quality and brand-name

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22
Q

What are speciality goods?

A

A lot of time and energy is spent before final decision. Once in a lifetime purchase. Brand loyal. For example cars, iPhones and other technical products

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23
Q

Define industrial goods

A

Used in manufacturing other goofs

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24
Q

What are services?

A

Economic activities which are performed for a fee. Skills, knowledge and the use of assets are sold for specific purpose at a certain period of time

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25
Q

How do services differ from products?

A

Not tangible and difficult to see

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26
Q

What do services often require?

A

Products

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27
Q

Name the two types of services

A
  1. Personal and professional services
  2. Auxiliary services
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28
Q

What what are personal and professional services?

A

Aimed at the final consumer

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29
Q

What are auxiliary services?

A

How business improve the marketing process

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30
Q

What are auxiliary services also known as?

A

Commercial services

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31
Q

Name the characteristics of services

A

• intangible service – have consumers find physical evidence of quality
• service provider can’t be separated from service itself – interactive marketing
• a service is perishable. Increase in demand requires increase in supply. Decrease in demand is wasted capacity
• quality of service overtime and between people. Create service plan and train employees to meet requirements

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32
Q

Name the marketing of services

A

• Work on wording, descriptions and promises of benefits – can’t give visual representation
• Cost of services depends on inputs cost, materials and level of expertise. Important to work out balance between product and service
• Find a way to represent quality – affiliation or endorsement by celebrities
• keep the reception friendly and welcoming. Reception is well informed
• hello peter.com – rate business.

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33
Q

Why is continuous product design essential?

A
  1. Succeeded, compete, grow and achieve objective. Keep designing and developing new products – meet requirement of target market
  2. Better products are available – growth and profit
  3. Financial and marketing planning begins with product
  4. First technological development and resulting in increase of living
  5. Pay attention to design – avoid high risk and cost of product failure
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34
Q

Name the six steps involved in the product design

A
  1. Design and development of product ideas
  2. Sifting and selecting product ideas
  3. Designing and tasting product concept
  4. Analyse the profitability of concept
  5. Designing and tasting of actual product
  6. Test marketing
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35
Q

What does design and development of product and using include?

A

• Identify needs not satisfied
• get ideas about new product

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36
Q

What does sifting and selecting product ideas include?

A

• Consider all ideas and choose most suitable
• fit the objective, infrastructure and abilities – marketable product
• choose best ideas – expensive to launch new

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37
Q

What does designing and tasting the products concept include?

A
  1. Idea must be dividend. Find out the consumers concept of ideal product
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38
Q

What does analyse the profitability of the product concept include?

A
  1. Keep in mind how much capital invested
  2. How much profit will be made
  3. Potential sales, selling price, cost, net profit and use of assets
  4. Ask help of production manager and financial manager
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39
Q

Define profitability

A

Ability of a business to make a profit

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40
Q

What does designing and testing the actual product include?

A
  1. Marketed profitably – should be transformed into concrete formed
  2. Packaging, labelling and trademarks
  3. Produced on limited scale
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41
Q

What does taste marketing include?

A
  1. Test the reaction of consumers
  2. Small scale – problems will be illuminated
  3. Successful – mass produced and marketed on large scale
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42
Q

What the marketing life-cycle referred to?

A

The product being introduced onto the market, with low sales and lots of initial advertising

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43
Q

What happens in the beginning of the marketing life cycle during growth?

A

Rapid sales prices may be reduced

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44
Q

When does a product reach a level of maturity?

A

Sales increase slowly – stabilise

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45
Q

Why is maturity reached?

A

Market saturation, alternative products or no longer satisfies ones need

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46
Q

What will happen if the problem is not addressed during maturity?

A

Sales decline rapidly

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47
Q

What does the difference strategies used by the business depend on?

A

This stage in the product life cycle

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48
Q

What is the purpose of packaging?

A

• protect the product
• reused
• inform about ingredients/displays trademark
• different sizes and colours – different market segments

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49
Q

What are the requirements of good packaging?

A

• catch the eye
• suit the product
• appropriately designed – tiger market in mind
• promote the image of the business
• display purposes
• strong, well-designed and easy to carry

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50
Q

What is speciality packaging? Different forms

A

Type of product in mind

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51
Q

What is packaging for use? Different forms

A

It can be used more than once

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52
Q

What is combination packaging? Different forms

A

Related products back together

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53
Q

What is kaleidoscopic or continually changing packaging? Different forms

A

Changes to reflect a theme

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54
Q

What is packaging for immediate consumption? Different forms

A

Unit packaging – small quantities and can use without breaking

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55
Q

What is rearrangement packaging? Different forms

A

Break the bulk packaging

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56
Q

What is IP?

A

The product of a persons mind and intellect

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57
Q

What is intellectual property a result of?

A

Creativity which includes art, music, written words, images, designs and trademarks

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58
Q

How do you protect your property in intellectual property?

A

The owner has to register it – no one else can use it

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59
Q

What is the intellectual property registered with?

A

Companies and intellectual properties commission (CIPC)

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60
Q

What is plagiarism?

A

Stealing of any intellectual property

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61
Q

List the significance of a trademark

A

• indicates quality – protects consumer (reputation)
• registered with the Registrar of Trade Marks (CIPC) – against imitations
• helps to advertise
• control over definite market share
• easier to add new product to range

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62
Q

Define trademark

A

Spatial sign on goods that indicates to the public that a specific manufacturer produce the goods

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63
Q

Name the three different trademarks

A
  1. Common trade mark
  2. Individual trade mark
  3. Dealers trademark
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64
Q

What is a comment trademark question?

A

Manufacturer uses one trademark markets all products

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65
Q

What is individual trademarks?

A

Each product has owned trademark. For example Nestle

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66
Q

What is dealers trademarks?

A

Pick ‘n Pay

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67
Q

We are trademarks registered?

A

Registrar of Trade Marks at CIPC

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68
Q

How long is the legal protection for a trademark?

A

10 years – can be extended

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69
Q

What is the importance of branding to a consumer?

A
  1. Identify product
  2. Feel safer – well-known brand
  3. Consumer status
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70
Q

What is the importance of branding to the market division?

A

1 easier to sell
2. High price – successful brand
3. Market segmentation
4. Reduces marketing cost – well-known

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71
Q

What is the brand?

A

Name of the product

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72
Q

Name these stages of brand acceptance

A
  1. Brand recognition
  2. Brand preference
  3. Brand insistence
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73
Q

What is brand recognition?

A

Consumer able to identify from trademark

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74
Q

What is brand preference?

A

Consumer ask for specific brand – not available find another brand

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75
Q

What is brand insistence?

A

Consumer will not buy another brand

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76
Q

What is the importance of the price policy?

A

• regulates demand
• establishes target market
• decisive influence on profit
• establishes position in relation to competitors

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77
Q

Define price

A

The monetary value of a product that a consumer is prepared to pay

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78
Q

What does the manufacturer have to have in mind when determining prices?

A

• maintain market share
• increase market share
• eliminate competition
• maximise profits
• benefits of mass production

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79
Q

Name the different forms of markets

A
  1. Perfect competition
  2. Monopolistic competition
  3. Ogliopoly
  4. Monopoly
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80
Q

What is perfect competition?

A

Large number of buyers and sellers – price determined by supply and demand. For example Jae SE

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81
Q

What is monopolistic competition?

A

One child who dominates. Consumer is loyal to brand. For example coke

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82
Q

What is oligopoly?

A

Few salads and each insist own price. For example ETN and Vodacom

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83
Q

What is the monopoly market?

A

One solid determines own price. For example Eskom

84
Q

Why is the demand for necessities elastic?

A

Have to buy regardless of price

85
Q

What will the change in price of necessities lead to?

A

Not a large change in demand

86
Q

Why is the demand for luxury goods elastic?

A

Small change in price would have a bigger change in demand

87
Q

What of a substitute product affect the price?

A

Availability, quality and price

88
Q

What happens if there’s no substitute product available?

A

Business have freedom to increase prices

89
Q

What happens to business when the substitute product is available?

A

Not to overprice

90
Q

Name the discount

A
  1. Cash discount
  2. Seasonal discount
  3. Bulk discount
  4. Trade discount
91
Q

How can a business use a discount in terms of competition?

A

Get a competitive edge over their competitors

92
Q

What is an example of fixed prices?

A

Petrol is controlled by the government

93
Q

What happens if the price is too high?

A

Consumer can’t afford product (unlimited needs but limited purchasing power)

94
Q

What must the manager keep in mind in terms of the behaviour of the consumer?

A

What is perceived to be good value for money

95
Q

What is the altitude of distributors?

A

High price may discourage dealers from selling the product effectively

96
Q

Why does production and distribution cost have a big influence on prize?

A

They have to recover from the cost of producing and distributing, as well as add profit

97
Q

Define distribution channel

A

Help the manufacturer distribute goods

98
Q

What is an agent?

A

Sounds good on behalf of the business

99
Q

What do method of selling can be adopted by the manufacturer?

A
  1. Direct selling methods
  2. Indirect selling methods
100
Q

What is direct selling method?

A

Manufacturer does not use retailers

101
Q

List why a manufacturer would use direct selling methods

A

• manufacturers cannot convince retailers to carry their product
• retailers are not promoting product – marketing
• middlemen add too much profit
• middleman cannot transport – do own distribution

102
Q

Define wholesaler

A

Buys from the manufacturer and sells to retailers

103
Q

Define retailer

A

Last link in distribution channel. Buy some wholesaler and sales to final consumers

104
Q

What risks do retailers take?

A

Price changes and bad debts

105
Q

Define franchising

A

Marketing system with a franchiser enters into an agreement with the franchisee to distribute a product or service upon agreed terms

106
Q

Define the informal sector

A

All economic activities that are not recorded in the national accounts

107
Q

What are the national accounts?

A

GDP - Gross Domestic Product

108
Q

List the ways in which an enterprise is considered part of the informal sector

A

• operate on small scale – very few paid employees
• no official business premises
• not registered
• does not keep records of business activities

109
Q

List the characteristics of the informal sector

A

• create a job and develop on entrepreneurial skills
• unrecorded is 30% of more
• not recorded in GDP
• more people are involved due to a lack of education
• often aimed at survival
• include illegal activities

110
Q

What are the advantages of the informal sector?

A

• create jobs – high unemployment rate
• can develop into a formal sector if there is sufficient growth
• develop on entrepreneurial skills, creativity and self-esteem
• competition for formal– lowest prices and better quality
• requirement are small

111
Q

name the four components of the promotion policy

A
  1. Advertising
  2. Personal selling
  3. Sales promotion
  4. Publicity
112
Q

does the business have to pay for advertising? What does this mean

A

Have to pay – choose the

113
Q

What opportunity does Sally repeating the message give the buyer?

A

Compare different messages from suppliers

114
Q

why is advertising an expressive form of communication?

A

Colour, sound, print and movement is used

115
Q

Why can the audience not respond to the advertising message and ignore it?

A

Impersonal message

116
Q

What is personal selling?

A

Live interaction between people – buyers are confronted by sales person. Buyer feels compiled to respond

117
Q

What should the sales person keep in mind?

A

Show personal interest in the buyer and keep their best interest are hot

118
Q

what does the buyer often feel under personal selling?

A

Obligated to listen and respond

119
Q

Is sales promotion temporary open permanent?

A

Temporary

120
Q

what does the instant appeal persuade the consumer to do?

A

Make an instant purchase

121
Q

What does too many sales promotion tools imply?

A

Salah is very interesting to sell

122
Q

what does the consumer think when there are too many promotion tools?

A

Question the quality

123
Q

What is publicity?

A

Free information about your business

124
Q

why is publicity a higher degree of created ability?

A

Business does not pay for the message

125
Q

why can publicity be good or bad?

A

Business does not have any control over message

126
Q

If obesity boost the image of the business what impact does it have?

A

Sales are indirectly promoted – does not cost large amount of money

127
Q

What is internal publicity?

A

Impatient people get from the appearance of the buildings, display of goods and appearance of staff members

128
Q

How does dwarf members impact into publicity?

A

The way they speak to client and the quality of service

129
Q

name the functions and advantages of advertising

A

• demand increase – higher sales
• benefit from large production – lower cost per unit
• increased standard of living – new/cheaper product
• task of salesman easier – buyers no and ask
• recruitment of staff is easier
• improved product – see other manufacturers
• protect and warns about inferior substitute/rip off – trademark
• improve the image/reputation

130
Q

why must only good quality goods to be advertised?

A

Customers will lose faith in businesses reputation

131
Q

What is required before an advertisement can be made?

A

Good knowledge of the product characteristics

132
Q

What must be done to make a lasting impression in advertising?

A

Striking design, feature and slogan

133
Q

What should be stressed in terms of advertising?

A

Group relations

134
Q

What must be avoided when advertised?

A

Incorrect information – qualities advertised

135
Q

Why must competitors never be criticised?

A

Competitive advertising is illegal

136
Q

How much the correct advertising medium be chosen?

A

Determined by tall market

137
Q

What should the advertising expenses look like?

A

Kit as low as possible and within budget

138
Q

Define ethics

A

Behaviour that is generally accepted by society

139
Q

Why is honesty good?

A

Bode good customer relations

140
Q

Name the unethical advertising behaviour

A
  1. False advertising
  2. Deceptive names
  3. Lying such making false statements about competitors
  4. Cultural pollution – discriminate against certain groups
  5. Creating false ones – materialism
141
Q

What is the code of standard/conduct prescribed by?

A

Advertising Regulatory Board (ARB)

142
Q

How can you keep reminding the consumer about your product?

A

Basing the advertising campaign on the trademark

143
Q

What does advertising the trademark or brand name get the consumers to do?

A

Ask for that specific brand

144
Q

What is digital marketing?

A

The various strategies of online marketing, aimed at reaching a specific target market or demographic

145
Q

What can effective use of social media encourage?

A

Engagement between a brand and the consumers

146
Q

What is a mated approach of digital marketing?

A

Search Engine Optimisation - make use of search engines

147
Q

What is the aim of digital marketing

A

Drive online traffic from social media, Google and third-party sides to the company website – give information about the brand, product and services, culture and ethos

148
Q

How is the brand loyalty reinforced in digital marketing?

A

They connect with the audience to content creation and online presents

149
Q

Why is online marketing campaigns good?

A

The potential reach and measurable return on investment (ROI)

150
Q

What is an advantage of digital marketing?

A

In valuable qualitative and quantitive feedback received by supporters

151
Q

What reflects the behaviour of a consumer from online campaigns?

A

Review, comments or other Matrixx

152
Q

What does market-research include?

A

• looking at competitors: number, products, demand
• legislation

153
Q

What can I do once the objectives are clearly defined?

A

Possible to measure the success of the campaign

154
Q

What is the budgeting for the campaign?

A

Discussions between business and advertising consultants – allocate sufficient funds

155
Q

What factors should be considered when the choice of media?

A

• will the medium reach the potential buyers
• nature and content
• availability of times/space
• rate charged – based of reaching 1000 people

156
Q

What must be design and wording be aimed at?

A

Achieving AIDA

157
Q

What happens with coordination?

A

Make sure you are available at all dealers when advertisement is run

158
Q

What methods can be used to determine whether the campaign was successful?

A

• name and address of business given in different format in different media
• different departments handle enquiries from different media
• consumers must return coupons or present a code
• consumers must mention the name of the paper/magazine/website

159
Q

What does attention stand for?

A

Design, colour, words – striking

160
Q

What does interest stand for?

A

Convince consumer the article is worth value and satisfying needs

161
Q

What does desire mean?

A

What position of the article

162
Q

What does action mean?

A

Decide to buy article

163
Q

What does the advertising agent or consultant specialising?

A

Detailed advertising campaigns that suit the needs

164
Q

How does consultants receive commission?

A

From the media the advert are placed in. Business will pay the media bill

165
Q

List the duties of advertising practitioners

A
  1. Thorough knowledge of target market and product
  2. Planned around above findings
  3. Approach the media and negotiate space, time and rates
166
Q

Ask competition increases what is more money spent on an advertising cost?

A

Better quality advertisement

167
Q

What is the effect of advertising on the price of the product if the advertising leads to a high turnover?

A

The manufacturer can buy in bulk which gets discount and lowers the production cost per unit. Product sold at lower price – increase competition

168
Q

What is the effect of advertising on the price of the product if it is not successful?

A

Not an increase in turnover. The cost of advertising will increase the price of the product

169
Q

Name the characteristics of services

A

• Intangibility
• perishability

170
Q

Define intangibility

A

A product can be touched and seen but a service can only be experienced once bought

171
Q

Define perishability

A

Service is not used the opportunity is gone.

172
Q

Name the additional three p’s

A
  1. Physical evidence
  2. People
  3. Process
173
Q

What are the processes that the business has to go through?

A

Important how they market the products and services

174
Q

Why does process need to be worked out?

A

Worked out in total employees into excellent service delivery

175
Q

How does processes form a part of marketing?

A

Strengths that can play into how a brand or business market itself

176
Q

What are people?

A

Happy staff members Leigh better business result

177
Q

Why is it essential to train your staff?

A

To have skills and develop a culture of friendliness, efficiency and service delivery

178
Q

Why is it important to have good physical evidence?

A

Services are in tangible

179
Q

What is physical evidence?

A

Anything that is tangible and say something about your business

180
Q

What enables customers to say enquiries in real time?

A

Emails and websites

181
Q

What does online chopping allow for?

A

To shop day or night without the help of store assistance

182
Q

What was the first attempts of advertising?

A

Email and pop-ups

183
Q

Why does digital marketing often border on spam?

A

It compromises unsolicited, both messages sent out indiscriminately often by companies

184
Q

How do companies get hold of peoples email addresses?

A

They have bought data bases

185
Q

What is email marketing?

A

Targeted to current customers or potential customers that have requested information or subscribed

186
Q

What do businesses use digital versions of the catalogues to show?

A

Showcase their products and services

187
Q

What can the digital versions of the catalogues look like?

A

Interactive with audio or Vizio, static which is just images and information

188
Q

What are subtle options of digital marketing?

A

Apps for phones and interactive games – learn about the products in virtual world

189
Q

What is mobile marketing?

A

Marketing on phones

190
Q

Why is mobile marketing a huge part of digital marketing?

A

The token market is practically always online

191
Q

Are there a lot of restrictions in digital marketing?

A

No you don’t have time limits and marketing stays online for

192
Q

How does digital marketing help with PR and react to bad publicity?

A

Companies can respond to complaints in minute or hours

193
Q

Why does companies responding online give consumers comfort?

A

They feel as if they are speaking to people

194
Q

What is viral marketing

A

The use of social networks to spread the word about a specific company, product or service

195
Q

What does viral marketing depend on?

A

The public to pass on the word by resending the message or liking and cheering

196
Q

What is forwarded in viral marketing?

A

Not a formal advert but a poster comic cartoon or video

197
Q

What app is a vehicle for viral marketing?

A

YouTube

198
Q

Why is via marketing not easily achieved?

A

It is unpredictable and depends on the mood of the audience, as well as the quality

199
Q

What is digital branding?

A

Take brand into the world of electronic media

200
Q

What does digital branding allow?

A

Customers to interact with it and make it accessible online

201
Q

What tools are part of digital branding?

A

Interactive tools and animations as well as incorporate it in experiences of clients – apps, games media

202
Q

What is social buying?

A

Enables business to access customers through their inboxes by collective buying power

203
Q

What site allows customers to register access specials?

A

Dealzone.co.za

204
Q

What is the process of social buying based on?

A

The retailer giving large discounts if a certain predecided number of people take up the offer

205
Q

How often do these offers expire?

A

Within 24 hours

206
Q

How long does a coupon last?

A

3 to 6 months

10 Business Studies (13 decks)

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