Chapter 7 Promoting & Selling
Name the four factors that differentiate products.
Customer service, convenience, value for money and quality.
Name two types of government regulations that affect business operations.
Federal and local government regulations.
Name the seven main features used to segment the total market.
• age • gender • income level • educational background • geographical location • lifestyle • family structure.
State the four characteristics of a successful entrepreneur.
the ability to see and take advantage of an opportunity; the ability to establish a shared vision; initiative, innovation and resilience; and an appreciation of the role of failure in success.
Name the six technologies influencing selling techniques.
AI, Webpages, Digital advertising, Mobile phone & SMS marketing, Location-based marketing, Push notifications
Name the two types of finance.
Debt and Equity finance
Name the seven forms of advertising.
mass marketing, direct marketing catalogues, telemarketing, e-marketing, social media advertising, billboards
Name two key features of a partnership business structure.
Shared ownership and unlimited liability.
Name the seven elements of the promotion mix.
Advertising, Personal selling, Relationship marketing, Opinion leaders, Publicity, Public relations, Sales promotion
Name the five areas that need to be investigated to realise a business opportunity.
Market research, Location, Demographics Competition, Target markets