3735524
Description
Flashcards by Michael Duck, updated more than 1 year ago
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Created by Michael Duck
over 8 years ago
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| Question | Answer |
| Roles | Strategic role of marketing goods and services Interdependence with other key business functions Production, selling, marketing approaches Types of markets – resources, industrial, intermediate, consumer, mass, niche |
| Influences | Factors influencing customer choice – psychological, sociocultural, economic, government Consumer laws Deceptive and misleading advertising Price discrimination Implied conditions Warranties Ethical – truth, accuracy and good taste in advertising, products that may damage health, engaging in fair competition, sugging |
| Process | Situational analysis – SWOT, Product Life Cycle Market research Establish market objectives Identify target markets Develop marketing strategies Implementation, monitoring and controlling – develop a financial forecast; comparing actual and planned results, revising the marketing strategy |
| Stratagies | Market segmentation, product/service differentiation and positioning Products – goods and/or services Branding Packaging Price including pricing methods – cost, market, competition-based Pricing strategies – skimming, penetration, loss leaders, price points Price and quality interaction Promotion Elements of the promotion mix – advertising, personal selling and relationship marketing, sales and promotions, publicity and public relations Place/Distribution Distribution channels Channel choice – intensive, selective, exclusive Physical distribution issues – transport, warehousing, inventory People, Processes and Physical Evidence E-marketing Global Marketing Global branding Standardisation Customisation Global pricing Competitive positioning |
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