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Flashcards in Meeting the Needs of Customers Deck (14)
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1

what is marketing

communication between retailers and consumers to advertise their product

2

what are the strategic objectives of marketing

-attract consumers
-meet consumer wants
-increase global sales (websites)

3

what are the constraints on achieving the strategic objectives

-public image (scandals)
-finance
-legal requirements
-competition

4

what is product led marketing

designing a product then getting consumers to buy them. there is no product research

eg, dyson, drugs/cures

5

what do people assume about product led products

-sold on the best market
-product is unique so no real comp
-no need to research it’s so good

6

what is market led marketing

competitive marketing that puts consumer needs at the centre of all decisions. lots of testing

7

what do people assume from market led products

-satisfying consumer needs
-market research and testing
-constant quick modifications

8

do most people take a combination of both product and market led approaches?

Yes
-carry out market research
-carry out product research
-focus groups and testing is used before final launch

9

how does success develop?

-meet recognised consumer needs
-developing new or changing existing products
-give greater satisfaction to change in demand
-find a gap in the market

10

what is consumer behaviour?

the study of the way people seek, buy, use, evaluate and dispose of products/services

11

what are the 3 types of buying behaviour

routine purchase,
informed purchase,
impulse purchase

12

what is routine purchases

take little thought. something they buy regularly

13

what is informed purchases

the informed decision making purchases. take consideration/possible research

14

what are impulse purchases

bought without prior thought