Marketing a Business

Target Market and Environmental Factors

100

Explain the difference between primary target market and secondary target market

Primary = loyal customers who generate most revenue, secondary = smaller amount of customers with no loyalty

200

How do competitors affect McDonald's marketing? 

Logical response - promote deals that seem better value, mimic similar items etc.

300

Name a factor in the macro environment and explain how it could affect marketing decisions 

Economic, legal, technological, social 

400

Name the 4 key segmentation variables

Demographic, geographic, psychographic, behavioural

500

Describe the target market for Monster energy drink referring to at least 3 different segmentation variables

D: male, 15-35, trade ; G: suburban; P: high energy, risk taking; B: repeat user, seeking energy boost 

Market Research and Tech Developments

100

What is secondary data?

Information that someone else has already collected for some other purpose

200

Name 2 types of primary data

Survey, observation, experimentation

300

What is search engine optimisation?

Improving a business’s website so that it appears higher in search results

400

Name 2 positives and 2 negatives of using AI in marketing

+ saves time, money, can track habits, learns customer behaviour

- ethical concerns, customers are wary, cannot replicate humans

500

Give an example of a real business and how it has used technology in marketing

Logical response

7Ps

100

What is the name for setting a price high to increase the prestige of a product?

Premium pricing

200

Name 2 components that make up 'product'

Product development, product positioning, branding, packaging

300

For place, Louis Vuitton uses _________ distribution to make it seem high end

Exclusive

400

Give two examples of how Apple uses 'process'

Greet customers at the door, have them wait in a spot, dedicated staff for each table, pay staff not at register etc.

500

Name the 7Ps

Product, price, place, promotion, people, physical evidence, process

PLC and PR

100

In PR, what is the name for the stakeholders of the business who have a vested interest in what the business does?

Publics

200

What stage of the PLC are DVDs in?

Decline

300

Name 3 different public relations strategies

Advertising, Competition, Brochure, Video, Email, Media release, News conference, Community     program, Website messages, Social media, Staged events 

400

Name 4 stages of the product life cycle

Introduction, Growth, Maturity, Decline (Extension)

500

If a product is in the introduction stage, how would you market it? Give an example of a real product and at least 2 things you would do 

Lower price (maybe), selective distribution, highlight features, establish reliability, encourage trial

Random

100

What is Ms Marshall's first name?

Tayla

200

How many planets are there in our solar system?

8

300

Who just won the men's US Open tennis title?

Carlos Alcaraz

400

Who did Taylor Swift just get engaged to?

Travis Kelce

500

Who is Erin Patterson?

Mushroom killer!