Marketing the business

Question 1

Marketing plan

Answer 1

A document that lists the activities aimed at achieving particular marketing outcomes.

Question 2

Define marketing

Answer 2

The process of planning and executing a promotion to the business and their goods and services.

Question 3

What does a customer profile entail

Answer 3

Customer behaviour and needs
Demographics such as age, gender and education
Location
Interests, lifestyles and values

Question 4

Business objectives

Answer 4

Increasing sales
Increasing market share
Expansion of the business

Question 5

Performance indicators

Answer 5

Sales analysis
Market share analysis
Marketing profitability analysis

Question 6

Pricing methods

Answer 6

Cost plus margin: the business determines the total cost of production and adds an amount for profit.
Market: Business determines the prices according to the level of supply and demand
Competition based: Basing prices off the competitions

Question 7

Distribution channels

Answer 7

Producer to customer
Producer-retailer-customer
Producer-wholesaler-retailer-customer
Producer-agent-wholesaler-retailer-customer

Question 8

Channel choices

Answer 8

Intensive distribution
Saturating market with product

Selective distribution
Using only moderate proportion of outlets

Exclusive distribution
Use of only one retail outlet

Question 9

Product lifecycle

Answer 9

Introduction- growth-maturity-decline-extension

Question 10

Development stages in a PR campaign

Answer 10

1. Establish objectives
   
   2. Identify intended publics
   3. Develop specific strategies and tactics
   4. Implement campaign
      
      5. Evaluate results

Question 11

How can you ensure a business is protected in case of a crisis?

Answer 11

Creating a “crisis team”, a spokesperson and being honest in explanations can minimise damage to the business’s reputation

Question 12

CSR issues in marketing

Answer 12

Creation of needs
Product placement in tv shows
Stereotypes
Accuracy and truth in marketing

Question 13

Publics

Answer 13

People that the business interacts with

Question 14

Define corporate social responsibility

Answer 14

Corporate social responsibility is a management concept whereby business owners integrate social and environmental concerns into their business.

this includes sustainability and environmental awareness or ethical issues such as fair pay