Marketing Basics Flashcard

Front

What does the ‘Place’ element of the marketing mix refer to?

Back

Distribution channels

Front

Which of the following is a primary method of market research? Internet research, Reading newspapers, Conducting a questionnaire, Reviewing government statistics

Back

Conducting a questionnaire

Front

Market segmentation is best described as:

Back

Dividing the market into different groups based on shared characteristics

Front

Which of the following is NOT part of the original 4Ps of the marketing mix? Product, Price, People, Promotion

Back

People

Front

A unique selling point (USP) helps a product to:

Back

Stand out in the market

Front

What is meant by 'penetration pricing'?

Back

Charging a low price to enter the market quickly

Front

Which of the following is an example of qualitative data? Percentage of customers under 25, Number of units sold, Customer opinions from interviews, Average monthly revenue

Back

Customer opinions from interviews

Front

What does 'positioning' involve in marketing?

Back

Establishing a product’s image in the minds of consumers

Front

A SWOT analysis identifies: Segments, Wants, Opportunities, Trends, Selling, Wants, Options, Targets, Strategies, Workloads, Objectives, Trends

Back

Strengths, Weaknesses, Opportunities, Threats

Front

Which of the following is a benefit of strong branding? Decreased customer loyalty, Less product recognition, Easier to charge premium prices, Reduced employee motivation

Back

Easier to charge premium prices