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Name the 7P's of the marketing mix
Price, Place, Product, Promotion, Physical Evidence, Processes, People.
What is the marketing mix?
A tool used to create an effective marketing plan/activities within an organisation
What does SWOT stand for?
Strengths, Weaknesses, Opportunities, Threats
What does the AIDA model stand for?
Attention, Interest, Desire, Action
Name 3 methods in which a company can promote their business
TV advertising, social media, brochures, leaflets.
What is the product life cycle?
the length of time from a product first being introduced to consumers, until it is removed from the market
What factors does a PESTLE consider?
Political, Economic, Social, Technological, Legal, Environment
Give an example of a partnership within the T&T industry
Love Island/Jet 2
What does market segmentation mean?
the process of dividing customers into segments
Define marketing
the process of engaging customers into your companys product/service
What is a marketing aim?
an overall goal for the organisation
What is a marketing objective?
How the organisation will achieve its overal aim/goal
Name 3 products/services sold by TUI
Package holidays/ancillary product/services
What does diversification mean in relation to marketing?
a strategy in which a company seeks growth by adding products or markets
What is a niche market?
a small segment of customers with specific needs/wants
What is USP in marketing?
unique selling point of a company/product/service
