U5 Marketing

avatar
Created by
Eddie

Cards (14)

  • What are the main five ways the market is segmented?
    Age
    Gender
    Geographic Location
    Lifestyle
    Income
  • What are the stages of the product life cycle?
    Introduction
    Growth
    Maturity
    Saturation
    Decline
  • What are some examples of extension strategies?
    New Features
    New Packaging
    Lowering Price
    More Advertising
    New Market
    Finding New Uses
  • What are the pricing strategies?
    Psychological
    Competitive
    Price Skimming
    Loss Leader
    Penetration
    Price Discrimination
    Cost-Plus
  • What are some examples of sales promotions?
    BOGOF
    Discounts
    Competitions
    Free Gifts
    Customer Loyalty Cards
  • What is the traditional distribution channel for products?
    Manufacturer -> Wholesaler -> Retailer -> Consumer
  • What are the advantages of having a brand?
    More trusted
    Higher prices
    Unique, recognisable products
    Customer loyalty and repeat purchase
  • What are the advantages of a USP?
    May help the business gain a competitive advantage
    Can help to justify why a premium price may be charged
    Likely to attract more customers
  • What is the direct distribution channel?
    Manufacturer -> Consumer
  • What is the modern distribution channel?
    Manufacturer -> Retailer -> Consumer
  • What are the advantages of a business using e-commerce and m-commerce?
    Wider market
    Internet advertising
    Possible lower costs
    Keep up with competition
    Convenience
  • What are the advantages for a consumer using e-commerce and m-commerce?
    Can see images of products so can compare them
    Prices can be compared
    Cheaper
    Convenient
    Can pay online
    24/7
  • What are the disadvantages of a business using e-commerce and m-commerce?
    Risk of diminished reputation
    Cost of setting up website
    More storage may be needed
    Competition
  • What are the disadvantages for consumers using e-commerce and m-commerce?
    Misleading image - Hard to judge quality
    Delay in receiving goods
    Potential return costs
    Technical issues - Reliability, speed