Marketing

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- Business (Unit 3 Marketing ) Flashcards on Marketing, created by sofia Larrain on 02/05/2018.
sofia Larrain
Flashcards by sofia Larrain, updated more than 1 year ago
sofia Larrain
Created by sofia Larrain over 6 years ago
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Question Answer
Marketing Unit 3 Business
Marketing, competition and the costumer Unit 3
Typical marketing structure (Foto) Answer Text
More people means more sections which are they? -the sales department: responsible sales. Separate sections each region were product distributed. -exported them by Export department.
More people means more sections which are they? The market research department: finding customers. Market changed + impact of competitors Development -products -pricing levels -sale strategies -promotion strategies.
How can businesses respond to changing spending patterns and increased competition? Action maintain market share when ever there is growth amongst its competitors. harming warnings in the TV. convince that product has been corrected. improving or maintaining the image is a crucial factor.
Mass marketing ADV what are they? -the sales to these markets are very large. -benefit from economies of scale - risks can be spread, often have several different variations of products mass market, one product fails other product may still sell well.
Mass marketing DIS Niche markets small therefore limited number sales, only small businesses can operate in these markets.
Mass marketing DIS Businesses in a niche market specialise in just one product. If product is no longer in demand business will fail.
Market segment what is it? Identifiable sub-group of a whole market in which consumers have similar characteristics or preferences.
Segmenting a market can help a business to: -make marketing expenditure cost effective meets needs of customers. -enjoy higher sales+ profits for business, because of cost-effective marketing. -identify market segment which not having needs fully met. Opportunities increase sales.
Ways of segmenting a market? -By socio-economic group: people’s jobs how much they are paid. -by age: the products bought by people in different age groups not be the same. -by region/location: different regions of a country people might buy different products
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