Flashcards
SMEidi
Flashcards do conjunto (14)
- 1What is SMEIDI?The steps involved in making a marketing plan
- 2What does SMEIDI stand for?Situational analysis
Market research
Establishing market objectives
Identify target markets
Develop marketing strategies
Implementing, monitoring and controlling - 3How do you use a situational analysis?By conducting a SWOT analysis and analysing the product life cycle
- 4Market research?Systematically recording and analysing information concerning a specific market problem
- 5What are the 3 steps in market research?1) determining information needs
2) collecting data
3) analysing and interpreting the data - 6What are the 3 main types of research when determining information needs?1) exploratory
2) descriptive
3) casual - 7Exploratory research?Clarifying a problem and searching for a way to fix it
- 8Descriptive research?Measures and describes things like the market potential for a product and the characteristics of the target market
- 9Casual research?Used to test a hypothesis about a cause and effect relationship
- 10What are the 3 main methods of gathering primary data?The survey method
The observation method
The experimental method - 11Statistical interpretation analysis?Focusing on data that represents average, typical or deviations from typical patterns
- 12Marketing objectives?Realistic and measurable goals achieved by the marketing plan of a business
- 133 common market objectives?1) increasing market share
2) expanding product range
3) maximising customer service - 14Market share? Product mix?Biz’s share of the total industry sales for a particular product.
The total range of products offered by a biz
Informações
- Descrição
- Situational analysis, market research, establishing market objectives, identify target markets, develop market strategies and implementation, monitoring and controlling
- Criado por
- teagan penberthy
- Visualizações
- 112
- Avaliação