spare marketing fc Flashcards
(10 cards)
what are the problems with market research?
market research questions may have been worded badly
people do not behave constituently and predictably
the actual people doing the interview may influence how people answer
people may not answer truthfully and may give any old answer
what are features of a brand?
Brands have unique logos and packaging.
Branded products are seen to be of high quality.
Brand loyalty can be created.
Branded products are easily recognisable.
what are the benefits of branding?
Higher prices can be charged for branded products.
Brands generate “brand loyalty” and mean greater sales.
Brands are perceived to be of a higher quality.
Brands are instantly recognisable.
what are the features of own branding?
Own brands are usually cheaper than branded products
Own brands are usually seen as being of inferior quality
Own brands appeal to the sector of the market to whom price is important
describe the introduction of the product life cycle?
the product is launched onto the market,it is heavily advertised at this stage to make customers aware of the product
describe the growth stage of the product life cycle?
the product is becoming known,the sales begin to increase and advertising is continued but at a lower level than the initial amount of advertisement
describe the maturity stage of the product life cycle?
sales reach their peak and profits levels are at their highest,advertising is continued to remind customers of the product and competitors introduce similar products
describe the decline stage of the product life cycle?
sales and profit are falling,the last products as sold at reduced prices to get them off the shelves and profits are reduced
describe the advantages of packaging ?
It can protect the product during transportation/delivery
Can increase the shelf life of the product
Can make the product attractive and encourage customers to buy
Can provide nutritional info and health guidance
Can inform the customer how to use the product
describe the disadvantages of packaging?
Distinctive packaging could be copied by own brands
If the packaging is littered it could create a negative reputation
Government legislation may force you to put certain info on packaging which highlights how unhealthy the product is
