4.6:
What does the extended Marketing mix focus on?
The marketing of services
Which method of entry into international markets requires the least commitment from a company?
Exporting
'The buying and selling of goods and services online' is a definition of which key term?
E-commerce
What are some challenges faced when managing the provision of services?
- correcting mistakes
- measuring productivity
- people management
What is marketing?
The management process involved in identifying, anticipating, and satisfying customer requirements profitably.
~ Chartered Institute of Marketing
The delivery of a service to customers' refers to which element of the extended marketing mix?
Processes.
Many multinational companies are aggressively marketing their products to poor consumers in rapidly developing countries. What is a reason for doing this?
- To increase sales revenue,
- Developing countries tend to have large populations.
- As these countries develop, incomes and consumer spending will increase.
A private nursery targets people who have joined a new parents group on Facebook. Which element of the marketing mix does this relate to?
Promotion
Changes in the global business environment mean that businesses which are able to adopt ______________ ________ strategies benefit from being able to market their products throughout the world.
International Marketing
What are three of the factors that need to be considered when pricing a product or service?
- Demand
- Rivalry
- Aims
- Supply
- Time
- Image
- Costs of production
A university implements a new admission system, which improves the efficiency of student enrolment. Which area of the extended marketing mix does this relate to?
Processes
'The integration and interdependence of the world's economies' is a definition for which key term?
Globalization
Grubhub is a food delivery app that connects restaurants with new customers. Using the app, people can order from restaurants' menus, and the food is collected and delivered by Grubhub's driver. Which element(s) of the marketing mix does this relate to?
Place
In todays globalized world, ___________ have extended across cultures and nationalities.
Ethical principles
What is a market segment?
A distinct group of customers with similar characteristics, and similar needs/wants.
What are the four ways of measuring the effectiveness of people?
- appearance/body language
- aptitudes/attitudes
- feedback
- efficiency
A major fast-food restaurant has decided to expand into your country. Unsure if its brand will be successful, it decides to open just a single outlet in the capital. This store will be owned and operated by a local businessperson who has paid for the right to use the restaurant's brand name.
Which method of entry does this describe?
Franchising
Some groups on Facebook allow members to sell their unwanted items to each other. What is this an example of?
Consumer to Consumer E-commerce
What are one of the biggest mistakes made by businesses when having an online presence?
One of the biggest mistakes made by many businesses is to over-complicate their homepage
What are three examples of USP?
- being the only firm in a local area to provide a product
- being the first
- being the best in the market
- reputation of the lowest cost provider
Why are peripheral products used?
Many businesses use peripheral products in delivering their services to enhance the overall experience provided
An international hotel group wants to expand into your country. However, local law states that all companies must be owned, in part, by someone from the country. Which method of international expansion would you recommend to the hotel?
Joint Venture
What are some common features of E-commerce?
global reach
24/7 accessibility
Access to information
Consumer reviews
Impersonal customer interaction
Less barriers to entry
What does Rosabeth Moss Kanter suggest in her book, e.Volvel.
In her book e.Volvel, Rosabeth Moss Kanter (2001) suggests that the internet could connect everyone throughout the world
Ad hoc research takes place on an "______________" basis
Ad hoc research takes place on an "as and when necessary" basis