Is a business philosophy that states that all sections of the business are involved in satisfying a customer’s needs and wants while achieving the business’s goals.
What is the marketing concept?
100
Rrefers to the decisions and actions of customers when they search for, evaluate, select and purchase goods and services.
What is customer choice (buying behaviour)?
100
Involves the identifi cation and analysis of the internal strengths and weaknesses of the business, and the opportunities in, and threats from, the external environment.
What is a SWOT analysis?
100
Refers to the combination of people, processes and physical evidence with the four main elements of the marketing mix
What is the extended marketing mix?
100
Are products with no brand name at all.
What are generic brands?
200
Emphasised selling because of increased competition.
What is the sales approach?
200
Perception, motives, attitudes, personality and self-image, and learning
What are psychological influences?
200
Consists of the stages a product passes through: introduction, growth, maturity and decline.
What is the product life cycle?
200
Is the process of dividing the total market according to personality characteristics, motives, opinions, socioeconomic group and lifestyles.
What is psychographic segmentation?
200
Involves the development of a container and the graphic design for a product
What is packaging?
300
Ffocuses on finding out what customers want — through market research — and then satisfying that need.
What is the marketing approach?
300
Occurs when a favourable attitude towards a single brand results in repeat sales over time.
What is brand loyalty?
300
Are the facts and fi gures collected from original sources for the purpose of the specifi c research problem.
What is primary data?
300
In its broadest sense, is the process of developing and promoting differences between the business’s products or services and those of its competitors.
What is product/service differentiation?
300
Is a method of setting prices according to the interaction between the levels of supply and demand
What is market based pricing?
400
Consists of those individuals or groups that are engaged in all forms of primary production, including mining, agriculture, forestry and fi shing.
What is the resource market?
400
Forces exerted by other people and groups that affect customer behaviour.
What are sociocultural influences?
400
Is the market segment at which most of the marketing resources are directed.
What is the primary target market?
400
Refers to the tangible and intangible benefi ts (attributes) a product possesses.
What is the total product concept?
400
Is the development of long-term, cost-effective and strong relationships with individual customers
What is relationship marketing?
500
Consists of wholesalers and retailers who purchase fi nished products and resell them to make a profi t.
What is an intermediate market?
500
involves advertising a few products at reduced and, therefore, enticing prices to attract customer
What is bait and switch advertising?
500
Is the elimination of some lines of products.
What is product deletion?
500
Signifies that the brand name or symbol is registered and the business has exclusive right of use
What is a trademark?
500
Are the routes taken to get the product from the factory to the customer.