Flashcards
marketing
Flashcards do conjunto (31)
- 1what is market researchprocess of gathering and interpreting data about consumers and competitors with in a film target market
- 2why do businesses spend large amounts of money on market resaserchprevents businesses from making expensive mistakes
enables them to price products at an acceptable level for customers
shows the area in which sales will be more successful - 3what’s the purpose of market researchgather information on weather the product will be bought in type it consumer who will buy it and how often they will
- 4what are the 2 types of market researchprimary- involves the collection of the original data for a specific purpose- normally collected from a direct store
secondary- involves the processing of data that has already been collected- market researches will consult previously published material - 5what are the main methods in primary researchquestionnaires and interviews
consumer panels
testing
observation - 6what are the advantages of questionaires and interviewsdesigned to find out exactly the information the business requires
taken directly from future business consumers
questionaires can help members of the public understand the questions - 7what are disadvantages of questonaires and interviewsslow and can be expensive
sometimes people misunderstand the questions and give misleading responses - 8what is a observationinvolves watching it observing the reactions of people to products
- 9what are the advantages to observationsnot costly
consumers not aware - 10what are disadvantages to observationsless accurate and is open to misinterpretation
not dutiable for all products - 11what is testingthe public being given samples of the product and being asked for their opinion
- 12what are the advantages of testingstraight forward to organise
first hand opinions are given - 13what are the disadvantages of testingmay not test in a cross section of the public
not sutible for all products - 14what are the four main methods of secondary researchgovernment publications
newspaper and journals
internet
firms internal records and accounts - 15what are consumer panelstaking responses from people who sit on panels and give their opinions on products
- 16what is public corporations and give examples in the ukgovernment controlled market bodies
bank of england
rail track
royal mail
manchester airport - 17what is samplingprocess or selecting a representative group from a larger population
- 18what is market segmentationselection of the groups of people who would be most interested in a particular product so that the product may be targeted at them
- 19what are the disadvantages to quota samplingunsuitable for some products
composition of the population in the area must be known in order for the correct proportions to be interviewed - 20what are advantages to quota sampilingresults are more accurate than random sampaling
personal opinions are given
more likely to reach the appropriate people - 21what is quota samplinginterviews are held with a set number of people who fall into predetermined catagories
- 22what is random samplingwhen people are randomly selected and asked for their opinions
- 23what are advantages of random samplingpersonal opinions are given
easy to assemble
everyone has a chance to be chosen - 24what are two methods of samplingrandom sampling
quota sampling - 25what are the disadvantages to random samplingmost expensive type
unsutible for some products
results are not accurate unless a very large sample is used - 26what is competitor based pricingsetting your price at the same level or slightly lower
- 27what is penetration pricingsetting the price low at the beginning and then increases the price as sales go up
- 28what is skimmingsetting a high price initially
people would be willing to pay a higher price if your product is new and unique - 29what are the factors that affect pricedemand
cost of production
need to make a profit
competition in the market - 30what is marketing mixall the key activities which are used in marketing a firms goods
- 31what is marketing segmentation
Informações
- Descrição
- GCSE Business Studies FlashCards sobre marketing, criado por elizabeth black em 02-12-2024.
- Criado por
- elizabeth black
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