Share Session 5 Learning Aim A1 and A2 recap
Save to Folder
Which of the following are the four key principles of marketing?
Anticipate, Recognise, Stimulate, Satisfy Demand
Price, Product, Place, Promotion
Design, Delivery, Development, Demand
Analyse, Report, Segment, Sell
Why is marketing important for a business?
It helps attract and retain customers to meet business aims
It reduces production costs
It focuses on product design only
It helps hire staff
What does “anticipating demand” mean?
Lowering prices after launch
Responding to complaints
Predicting what customers will want in future
Selling to current customers
What does “stimulating demand” involve?
Encouraging customers to buy by making products cheaper
Encouraging customers to buy via advertising or promotion
Encouraging customers to buy by analysing sales data
Encouraging customers to buy by waiting for seasonal trends
What’s the main difference between a marketing aim and a marketing objective?
Objectives are optional
Aims are broad goals; objectives are specific and measurable
Aims are always financial; objectives are creative
Aims change weekly; objectives stay fixed
Why should marketing objectives be SMART?
To reduce the number of objectives
Because it looks professional
Because customers expect it
To make them specific, measurable and realistic
What is market segmentation?
Dividing staff into departments
Selecting suppliers
Splitting the market into groups with similar characteristic
Creating different logos for products
Which list shows the four types of segmentation?
Primary, Secondary, Quantitative, Qualitative
Local, Regional, National, Global
Demographic, Geographic, Psychographic, Behavioural
Visual, verbal, emotional, practical
What is a mass market?
A specialist, niche audience
A market for expensive products only
A market aimed at wealthy consumers
A large market where many people buy similar products
Which statement best describes a niche market?
A market controlled by one brand
A small, specialised part of a larger market
A market with no competition
A clearly defined group with specific needs or interests
How does segmentation help with branding?
It helps create a brand that appeals to a defined audience
It reduces advertising costs
It removes the need for promotion
It changes the company name
What does USP stand for?
United Sales Process
User Sales Potential
Unique Selling Proposition
Unique Sales Plan
Why is a USP important for branding?
It limits creativity
It shows financial success
It differentiates the brand from competitors
It makes pricing easier
What connects segmentation and branding?
Segmentation defines audience so branding can be targeted
Branding identifies audience; segmentation creates the logo
They are unrelated concepts
Segmentation increases profits directly
Which of the following is an internal influence on marketing?
Budget and finance available
Political change
Consumer lifestyles
Competitor actions
How can budget affect marketing decisions?
It limits which activities or media can be used
It has no impact
It only affects product design
It determines staff uniforms
