Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Marketing
Business Studies-Junior Cycle-Marketing Revision
| Question | Answer |
|---|---|
| What is a Market? | A market is the exchange of goods or services for payment.The term market can also mean the place where the exchange takes place. |
| What is the missing part in this chain of distribution? Manufacturer > Wholesaler > ???? > Consumer | Retailer |
| What is Marketing? | All activities undertaken by a business which help it produce goods or services wanted by consumers. |
| List the six stages of marketing | Market Research, Production, Place, Price, Promotion, Market Research. |
| What is the missing part in this chain of distribution?Manufacturer > ???? > Retailer > Consumer | Wholesaler |
| What is Market research? (before you create a product) | Finding out what customers want, what competitors are doing, where best to advertise and sell. |
| In marketing, what is production? | Producing a product or service based on what consumers want i.e quality, size, packaging etc. |
| In marketing, what is place? | Deciding on the best channels of distribution e.g through others or direct to the customer. |
| In marketing, what is price? | Selecting a price which consumers will be willing to pay. taking into account cost of production, competitors prices, consumer income & desired profit. |
| In marketing, what is promotion? | Using advertising, personal selling, sponsorship, special offers, attractive displays etc. |
| What is Market research? (after you create a product) | Finding out if the consumers are satisfied with the product, price, promotion and place. Changes can then be made to improve these. |
| What is the Marketing Mix also know as? | The four P's of Marketing |
| What are the four P's of Marketing? | Product, Price, Promotion , Place |
| What information does market research provide? | •Details of customers: Number of potential customers, their likes and dislikes, their income, their location. •Details of competitors: Their prices, their location, how they advertise etc. |
| What is a target market? | The segment of the population at whom the product/service is aimed e.g teenagers, working mothers, Active people, students. |
| What are the two types of Market Research? | Desk research and Field research |
| What is desk research also called? | Also called secondary research |
| What is field research also called? | Also called primary research |
| What does desk research involve? | Obtaining information from available sources e.g. government publications, internet, personal records on file, magazines etc. |
| What does field research involve? | Obtaining information which is not available from desk research. Observing people, surveys, questionnaires, 1 to 1 interviews. |
| Why would you create a market research report? | The marketing manager prepares a report for the managing director. This includes all the market research information available so the company can start to make decisions. |
| What details should be included in a market research report? | Name of the company, Product/service to research for, Date, To, From, Details of who was surveyed/questioned, Results, Your signature, your title. |
| What is product development? | This involves bringing in new products to meet the changing needs and habits of consumers. Some companies improve or adapt their own or competitors products e.g. Apple, Car manufacturers. |
| What is advertising? | This is the giving of information, about a product or service to consumers in the hope that they will buy the product or use the service. |
| What are the reasons for advertising? | 1.To inform customers of the availability of products/services, price changes, business changes. 2.To persuade customers to purchase, that they need to buy a product or service. 3.To highlight the difference between one product and another. |
| What methods of advertising are there? | Television, Radio, Newspapers, Posters, Billboards, Cars, Trucks, Internet, Magazines and Journals, Email and Text messages, Post and Flyers, Websites and Facebook. |
| Name a sales promotion technique? | Special offers, Branding, Sponsorship, Merchandising, Public relations, product placement, celebrity endorsements. |
| What is Branding? | Use of a logo or name to distinguish one product from another. |
| What is Sponsorship? | Supporting teams, organisations or events in return for having the business name on the posters or clothes. |
| What is Merchandising? | Displaying products in an attractive way in shops or shop windows to encourage impulse shoppers to buy. |
| What is product placement? | Paying to have your product item, brand or logo on display in a TV show or film. |
| When a company pays for advertising, what is this classed as in their accounts? | An expense |
| What two accounts are affected when recording advertising fees? | CREDIT Bank (analysed cash book) DEBIT Advertising a/c (general ledger) |
| What is import substitution? | Replacing foreign products with Irish products. |
Created by:
linsher36
Popular Marketing sets