SDF Flashcards
(21 cards)
What are the traditional 7ps of marketing?
Product, Promotion, Price, Place, People, Process, Physical Evidence
_____________ are the ingredients that combine to capture and promote a brand or products unique selling points, those that differentiate it from competitors.
Marketing mix
________ determinations will impact profit margins, supply, demand and marketing strategy.
Price
Give the 2 types of market research.
Primary Research, Secondary Research
it is defined as the process of evaluating the feasibility of a new product or service, through research conducted directly with potential consumers.
Market research
The six steps for conducting market research.
Define the problem, Define the sample, Carry Out data collection, Analyze the results, Make the research reports, Make Decisions
________________ refers to e-commerce which caters for the needs of other businesses. It is well established and a lot of purchase orders and payments are now made electronically.
Business-to-Business
_________________refers to e-commerce which caters directly for the needs of the final consumer. More and more businesses are now set up to sell directly to the final consumers.
Business-to-Consumer
_________________refers when one person sells something to another person using the internet. This usually happens on websites or apps where people can post things they want to sell, like used clothes, phones, or furniture. Other people can see these items and buy them.
Consumer-to-Consumer
Is an estimate of the sales potential of the firm in future
Sales Forecasting
What are the 4 factors considered for sales forecasting
Competition, Changes in technology, Government action, Factors related to concern itself
2 types of sales forecasting
Short-term forecasting, Long- term forecasting
What does SWOT stand for?
Strengths, Weaknesses, Opportunities, Threats
What are the 4Ps in the marketing mix?
Product, Price, Place, Promotion
It is the set of the different marketing elements/techniques used in a given situation to influence the target market to buy a product.
Marketing Mix
What are the 2 business orientation?
Product orientation, Market orientation
What are the 4 Evolution and influences of marketing strategies?
Customer preferences, Innovation, Ethics, Culture
What is market?
Its a place where seller and buyer meets and exchange goods and services
Give at least 3 Other issues of international marketing
Cultural, Time, Transport, Language, Legal and Political, Social and Demographic, Capital, Ethics
__________ Agreement is a contract whereby the owner gives the right to others to produce & sell the products of the business against certain payments called royalties.
Licensing/ Franchise
.___________ It takes place when goods are sold by other local agents, say an export firm, to overseas markets.
Indirect Export
