8 - Roles of Marketing
_______ is the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit.
Marketing
What analytical tool helps to inform future marketing strategies (4 letters)?
SWOT analysis
The function of transforming inputs into outputs is known as ?
Operations
What does SWOT stand for?
Strengths, Weaknesses, Opportunities & Threats
What is a portmanteau?
A word blending the sounds and combining the meanings of two others, for example email or brunch.
What is the most recent Era of Marketing called?
Social/Mobile
Observation, Survey and experiment are all types of _____ data?
Primary
Name one type of layout that businesses may use.
Product, process or fixed-position
What are the 2 of the 4 business evaluation criteria?
Competitiveness, efficiency, effectiveness & stakeholder satisfaction
When was the last leap year?
2020
What is the type of market that focuses on a micro segment of consumers within the market?
Niche Market
The use of social media to create brand awareness comes under which of the 4 P’s?
Promotion
List one type of materials management:
Inventory, supply chain, logistics, capacity utilisation
USP analysis involves creating a list of criteria and a list of , before ranking them.
Competitors
What is one of the only two countries with a square flag? (Hint: Both countries are in Europe)
Switzerland or Vatican City
Name two psychological factors that affect consumer buying behaviour.
Motivation/Perception/Learning/Attitudes/Personality and self-concept.
is a key factor that differentiates one product from another.
USP (Unique Selling Proposition)
Name one inventory strategy:
Just-in-case or just-in-time
Evaluation requires you to use criteria, justify your decision and give a .
Recommendation
A tower is the name for what group of animals (think high)?
A group of Giraffes
The ACCC is a government body that checks for _____ or _____ conduct in company advertisement.
Misleading or Deceptive
The target market focused on consumers lifestyle, values, and personality is known as __________ segmentation.
Psychographic
How do you calculate capacity utilisation?
Current output/Maximum output X 100
List one internal, one external operating, and one external macro factor.
Int: org cult, org struc, owners, employees
Ext: supp, compet, custom, int groups
Macro: STEEPLE
John McDouall Stuart was the first western explorer to cross Australia South to North. Who died in their competing attempt at the same time?
Burke & Wills