Module 3 Industry and Markets Flashcards
1
Q
Marketing Mix Factors
(The 7 P’s)
A
- Product
- Price
- Place
- Promotion
- Physical evidence
- People
- Process
2
Q
Product/services cyclical stages
A
- Start-up
- Growth
- Shakeout
- Maturity
- Decline
3
Q
Barriers to entry (10)
A
- Capital
- Differentiation
- Advertising
- Swtiching costs
- Distribution channels
- Supply channels
- Intellectual property
- Taxes
- Laws and regulations
- Retaliation
4
Q
Bases of Segmentation
A
- Demographic
- Socio-economic
- Geographic
- Perosnality and lifestyle
- Circumstances of purchase
- Customer priorties
5
Q
Monetisation models (Apps)
A
- Free and without adverts
- Free and with adverts
- Free basic service with premium charge
- Up-front charge
- In-app purchases (pay to win)
6
Q
Marketing Mix Factors should not be considered in isolation but, instead, on the whole?
True or False
A
True
7
Q
Start-up characteristic
A
- High costs
- Low sales
- Low competition
- Low price sensitivity
- High prices
- Low profit or Loss
8
Q
Growth characteristics
A
- Decreasing costs
- Significant sales increases
- Increasing competiton
- Falling prices
- Profit growth
9
Q
Shakeout characteristics
A
- Sales growth slowed
- Some competitors lost the race to become market leaders
- Markets leaders grow
10
Q
Maturity characteristics
A
- Low costs
- Maximum sales volume
- High profits for leaders
- Mergers and acquistions
11
Q
Decline characteristics
A
- Decreasing costs
- Decreasing sales volume
- Markets saturation
- Pressure on prices
- Markets exiters
12
Q
Screening
A
Involves a process of deciding which idea or ideas are stronger, and worth pursuing further,
13
Q
Go/ No-go
A
- After the screening phase
- Commit to implementing their business idea (Go)
- OR the opportunity is not feasible or is not attractive enough (No go)
