Marketing Mix 0.0 / 5 ? Business StudiesMarketing mixGCSECCEA Created by: B DeeryCreated on: 29-04-16 10:01 What is marketing? The process that identifies, anticipates and satisfies customer' requirements profitably 1 of 15 What are the four key activities involved in marketing a firm's product (4P's)? Product, Price, Place and Promotion 2 of 15 List four things which influence the pricing of a product. Competition, cost of production, price people prepared to pay and type of product. 3 of 15 This pricing policy accepts the price which competitors are charging. Competitor-based pricing 4 of 15 This pricing strategy sets a relatively high price initially and as more competition arrives they lower the price. Skimming 5 of 15 This pricing policy cuts prices to a very low level in order to secure sales by encouraging shoppers to come to them. Price war 6 of 15 This pricing policy is ruthless and is designed to destroy competitors' sales and business. Destruction pricing 7 of 15 This pricing policy covers the cost of production and adds on a percentage profit. Cost-based pricing 8 of 15 This pricing policy sets a low price to enter the market and as demand increases the price will go up. Penetration pricing 9 of 15 List six factors which affect price. Cost of production, need to make a profit, competition in the market, price the market can bear, season of the year and quantity of stock 10 of 15 List the four types of promotion. Advertising, Sales Promotions, Sponsorship and Public Relations 11 of 15 The three types of advertising are: Informative, persuasive and generic 12 of 15 List four methods of advertising. Hoarding and posters, tv, radio, cinema, internet, newspapers, magazines/journals, exhibitions, demonstrations, 13 of 15 List six types of sales promotions Loss leaders, point of sales display, discounts, 14 of 15 List some events buisnesses sponsor. Sporting events, charity events and school events 15 of 15
Edexcel GCSE Business Studies Unit 3 - Building A Business, Topic 1 - Marketing 2.5 / 5 based on 3 ratings
Comments
No comments have yet been made