The management task that links the business to the customer by identifying and meeting the needs of customers profitably
What is Marketing?
100
The four main elements of marketing strategies: PRODUCT, PRICE, PROMOTION and PLACE. (The 4Ps)
What is the marketing mix?
100
The Process of collecting, recording and analysing data about customers, competitors and the market.
What is market research?
100
Adopting a standardised product across the globe as if the whole world were a single market - selling the same good in the same way everywhere
What is pan-global marketing?
100
The use of social networking sites or SMS text messages to increase brand awareness or sell products
What is viral marketing?
200
The total level of sales of all producers within a market.
What is market size?
200
The process of formulating appropriate strategies and preparing marketing activities to meet marketing objectives.
What is marketing planning?
200
Collects ‘first-hand’ data as they are being collected by the organisation for the first time for its own needs.
What is primary research?
200
Selling products in markets other than the original domestic market
What is international marketing?
200
The buying and selling of goods and services on the internet
What is e-commerce?
300
The percentage change in the total size of a market (volume or value) over a period of time.
What is Market growth?
300
Refers to the use of people in the marketing mix. CRM focusses on what can be gained during the lifetime of a positive relationship with customers.
What is customer relationship management?
300
The collection of data from second-hand sources.
What is secondary research?
300
Adapting the marketing mix, including differentiated products, to meet national and regional tastes and cultures
What is global localisation?
300
Unwanted e-mail (usually of a commercial nature sent out in bulk)
What is spam?
400
The percentage of sales in the total market sold by one business
What is Market share?
400
The moral aspects of a firm's marketing strategies. It can be encouraged by the use of moral codes of practice.
What is ethical marketing?
400
Research into the in-depth motivations
behind consumer buying behaviour or opinions.
What is qualitative research?
400
The manner, social and cultural context in which business is conducted. International etiquette differs from one country to another so it is important for marketers to be aware of the different protocols that exist
What is business etiquette?
400
Stands for business-to-consumer and refers to online business conducted directly for consumers;p an example would be Amazon.com selling books directly to private individuals
What is B2C?
500
The product with the highest market share.
What is Market Leader?
500
The process of categorising customers into distinct groups of people with similar characteristics (such as age or gender), and similar wants or needs for research and targeting purposes.
What is segmentation?
500
Using existing members of a sample study group to recruit further participants through their acquaintances.
What is snowball sampling?
500
A business setting up a production and/or distribution facilities in foreign countries
What is a direct investment?
500
A systematic process of ensuring that a firm comes up at or near the top of lists of typical search phrases related to that business