Marketing

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  • Created by: IKaosifyI
  • Created on: 02-04-14 16:06
Define Marketing
Its the process of which an organisation or a business tries to satisfy its customers needs and wants.
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Explain the Marketing Mix
Its about selling them: The Products they want. Charge a Price they are willing to pay. Make them available in the right Place. Make them aware by using promotion.
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Define Primary (Field) and Secondary (Desk) Research
Primary Research is information that is newly created. It is usually collected by the firm themselves. Secondary Research involves using information that has already been collected. You use external sources to find the information.
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Sources of Primary Research
Test Marketing - where you release the product in a certain geographical area for testing. Surveys, Questionnaires, Consumer Panels, Interviews and Observation (Electronic CCTV or Watching_
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Sources of Secondary Research
Government Statistics, Market Research Companies e.g. Gallop, Newspapers, The Internet and Companies past data
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Advantages and Disadvantages of Primary & Secondary Research
Advanatges: Information is already available, It is cheap and can find out what competitors are doing. Disadvantages: Information may be out of date, Data can be difficult to make sense of and Information may not be relevant.
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Other cards in this set

Card 2

Front

Explain the Marketing Mix

Back

Its about selling them: The Products they want. Charge a Price they are willing to pay. Make them available in the right Place. Make them aware by using promotion.

Card 3

Front

Define Primary (Field) and Secondary (Desk) Research

Back

Preview of the front of card 3

Card 4

Front

Sources of Primary Research

Back

Preview of the front of card 4

Card 5

Front

Sources of Secondary Research

Back

Preview of the front of card 5
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