Marketing Process
Name the three marketing influences categories
What are factors affecting consumer behaviours, Legal influences and Ethical influences.
What are the four sections of Marketing Segments?
Demographics, Geographics, Behavioural, Psychographics
Name the possible marketing strategies.
What is:
Product, Price, Promotion, Place, Physical Evidence, People, Processes, E-Marketing, Global Marketing.
Which aspect of marketing does this question fall into "Will you reach your audience by advertising?"
What is Promotion
What is the being described with the situation "sales plateau as the market becomes saturated?"
What is the Maturity Stage of the product life cycle.
What is the difference between a Primary and Secondary target market?
What is the group of consumers that are the main focus of the marketing strategies and those consumers not targeted but are also likely to purchase the products.
What is putting the marketing strategies into action, tracking how successful they are against KPI's and making adjustments if needed to the strategies or KPI's.
When Supply is high what happens to demand?
What is demand is low
What segment catageory are personality characteristics, and motives a part of?
What is Psychographic segmentation.
What are the three pricing methods?
What are Cost-based, competition-based and market-based pricing.
What is the fourth step in developing the marketing process?
What is Identify your Target Market and positioning your product.
What is the ACCC and why is it importance
What is a third party government organisation that sets and administers rules to govern the marketing of businesses and consumer rights.
Describe two ways Economy effects marketing strategies.
1.What is Price is derived by the interaction of supply and demand. 2.The resultant market price is dependent upon both of these fundamental components of a market. 3.An exchange of goods or services will occur whenever buyers and sellers can agree on a price. 4.When an exchange occurs, the agreed upon price is called the "equilibrium price“
What is the definition of Marketing Segments?
What is Market segmentation is the process that involves dividing a broad target market into subsets of consumers who have common needs, and then designing and implementing strategies to target their needs and desires using media channels and other touch-points that best allow reaching them.