Objectives & Strategies
Market Research
Market Attributes: dimensions and segments
Market Attributes: consumer trends and behaviour
Performance Indicators, Issues and Ethics
100
A statement of what an organisation expects to achieve over a set period
What is an objective?
100
The facts and figures collected from original sources.
What is Primary Data?
100
The market segment at which most of the marketing resources are directed.
What is the primary target market?
100
The reasons that individuals do something.
What are Motives?
100
Measurable statements which businesses use to evaluate performance
What are performance indicators?
200
An action that an organisation takes to achieve its specific objective
What is a strategy?
200
Information that some other person or organisation has already collected.
What is Secondary Data?
200
Usually a smaller and less important market segment.
What is a secondary target market?
200
A group of people with whom a person closely identifies, adopting their attitudes, values and beliefs.
What is A peer group?
200
Measures the number of people exposed to the message in an advertisement.
What is reach?
300
A document that lists activities aimed at achieving particular marketing outcomes in relation to a good or service. The plan provides a template for future action aimed at reaching marketing objectives, such as establishing a customer base.
What is a Marketing Plan?
300
Information that has already been collected from inside the business.
What is Internal Data?
300
A narrowly selected target market segment.
What is a niche market?
300
Influences within an individual that affect his/her buying behaviour.
What are Psychological factors?
300
A form of online advertising that uses social media channels to deliver targeted commercial messages to potential customers.
What is Social media advertising?
400
‘The process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organisational objectives’
What is Marketing?
400
Information — usually expressed as facts and figures — relevant to the defined marketing problem.
What is Marketing data?
400
A group of customers with similar characteristics who currently purchase the product or may do so in the future.
What is a target market?
400
These are forces exerted by other people that affect customer behaviour.
What are Sociocultural influences?
400
The effect of ever more sophisticated communications technology, lower transport costs, and unrestricted trade and financial flows turning the whole world into a single market, producing a more integrated global economic system.
What is globalisation?
500
A philosophy that all sections of the business are involved in satisfying a customer’s needs and wants while achieving the business’s objectives.
What is the marketing concept?
500
The process of focusing on the data that represent average, typical or deviations from typical patterns.
What is Statistical interpretation analysis?
500
This occurs when the total market is subdivided into groups who share one or more common characteristic.
What is Market segmentation?
500
This refers to the decisions and actions of consumers when they purchase goods and services for personal or household use.
What is Consumer buying behaviour?
500
Any practice by a business that is not reasonable and often illegal.
What is Unconscionable conduct?
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