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Business Studies Term Revision

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  • What does AIDA stand for?
    Attention (awareness), Interest, Desire and Action
  • The second step where advertisers keep customers curious about a product.
    Interest
  • Give one word for this definition - Involves selling products or services to customers.
    Sales
  • Which "P" is this - Design, quality, features, branding, and packaging.
    Product
  • The combination of different elements that a business uses to promote its products and meet customer needs (The 4 Ps).
    The Marketing Mix
  • Give one word for this definition - The way companies get their products to customers.
    Distribution
  • Which "P" is this - The amount customers pay for a product.
    Price
  • Use one or two sentences to describe a slogan.
    A slogan is a short and catchy phrase that helps people remember a brand or product. It’s like a special sentence that tells what the company does or why it’s g
  • The first step in advertising where people notice a product.
    Awareness / Attention
  • The stage where customers feel they want or need a product.
    Desire
  • Which "P" is this - How and where products are sold to customers.
    Place
  • _____________________ is getting people to know who you are, getting them to like you, and getting them to buy something from you.
    Marketing
  • Give an example of a promotional strategy a business might use.
    Discounts - any relevant example
  • What are the 4 Ps in the marketing mix?
    Price, Product, Place and Promotion
  • Give one word for this definition - The way companies tell people about their products to encourage them to buy (advertising).
    Promotion
  • Why is pricing important?
    Pricing strategies can attract different customer segments and influence their purchasing decisions.
  • Use one or two sentences to describe a logo.
    A logo is a simple picture or design that represents a company or brand. It helps people recognise and remember it easily. i.e. Nike's swoosh
  • Why is it important to conduct (do) market research?
    So that you can understand your potential customers' needs (any relevant explanation).
  • The process of collecting information about what customers want and what other companies are doing.
    Market Research
  • Which "P" is this - Strategies used to communicate with customers about products.
    Promotion
  • The final step where customers decide to buy or engage with the product (Buy Now!)
    Action