Marketing objectives & Strategy
A measurable target that a business sets for its marketing activities.
What is a Marketing objective?pg57
the process of creating new products and services to the market
What is Product design? pg68
Activities aimed at raising awareness and persuading customers to buy a product.
What is Promotion?pg74
Setting a high price for a limited time when entering the market.
What is Price Skimming?pg 84
The path a product takes from producer to consumer.
What is the Distribution channel? 89
These are two common marketing objectives businesses may set.
What is Increase market share & increase sales revenue, Build a brand. pg 58
the range of features that are important when designing a product.
What is Design mix? pg 72
A name, symbol, or logo that distinguishes a product from competitors.
What is Brand? pg 78
Setting a low price to attract customers quickly.
What is Penetration pricing? pg84
Selling directly to customers without intermediaries.
What is Direct selling/ two stage distribution? pg 90
A set of plans that aim to achieve a specific marketing objective.
What is Marketing strategy?pg63
These three things are elements of what
Function, aesthetics, cost
What is design mix? pg 69
Promotions such as discounts or free samples are known as this.
What are Sales promotion?pg76
Setting a price similar to competitors.
What is Competitive pricing?pg 85
Intermediaries such as wholesalers and retailers are part of this type of distribution.
What is four stage distribution? pg 89
methods used to prolong the life of a product.
What is extension strategies? pg 66
What is ethical sourcing? pg 71
The use of media to communicate with large audiences is known as this.
What is Above-the-line promotion (advertising)?pg 74
Pricing that aims to eliminate competitors from the market.
What is predatory pricing? pg 85
This involves businesses selling to other businesses.
What is B2B/ business to business? pg 93
When a business tailors products to individual customers’ needs, this strategy is used.
What is Niche marketing? pg64
reducing the quantity of resources that are discarded in the production process.
What is waste minimization? pg 72
the practices of using the emotions of a consumer to build a brand
What is emotional Branding? pg 80
charging 1.99 instead of 2.00 is an example of this.
What is psychological pricing? pg 85
links between the producer and the consumer.
What is intermediaries? pg 94