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11 Cards in this Set
- Front
- Back
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Marketing |
The activity and process for creating, communicating and exchanging offerings of value to consumers. |
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Marketing Mix |
A combination of the product, price, place and promotional efforts used by an organisation |
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Product |
A bundle of attributes that include features functions benefits and uses. |
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Types of Product |
Consumer goods (Tangible), Consumer services (Intangible), people, places and ideas. |
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Marketing plan |
A document that describes the marketing environment, objectives and strategy of an organisation. |
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Where do Marketers come from and what role do they implement. |
They have varying backgrounds and work in every industry. Role varies between organisations and can include advertising, sales and identifying trends/markets. |
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How does marketing provide value to both consumer and organisations. |
To consumer through the tangible and intangible benefits they receive from buying a product. To the organisation by developing a reliable customer base that should increase sales and profitability. Society through value from marketing activities that are ethical, profitable and environmentally friendly. |
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What variables could an organisation look at for the future when conducting marketing planning. |
Tech, social, environmental, legal and trend impacts. |
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What are the 4Ps and their meanings in the marketing mix |
Product- a good, service, idea, place or person including design and packaging. Place- Ensuring availability at the desired time and location Price- The value a customer gives up in exchange for a product Promotion- All activities undertaken in order to inform and encourage a consumer to buy the product. |
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Describe what each era relates to - Production, selling, consumer, new era and new millenium. |
Production- creating the product as efficiently as possible selling - where marketing is viewed primarily as a selling function consumer-focus on satisfying customers needxs new - improving products to gain competitive advantage new millenium - focus on long term relationships with consumers. |
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Marketing planning how? |
begins with an assessment of external and internal factors and then development of strateges and objectives. |
