Effective marketing achieves the firm's sales and and profit targets by convincing customers to buy the firms products again and again.
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Define marketing?
The process that anticipates, identifies and satisfies customer requirments profitably.
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What are the characterstics of effective marketing?
Identifying target market, segmenting market, customer orientated marketing, brand image, marketing and business objectives
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Methods to identify the target market?
Focus market reseach by interviewing only those who make up the target market / Focus advertising spending on the people most likley to buy the product.
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How is customer service delivered?
face to face, telephone and internet.
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What are the 3 key aspects to successful segment a market?
Research into the different types of customer within a marketplace / see if they have common tastes or habbits / Devise a product no for the whole market, but a particular segment.
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Why would a business make marketing objectives, analysis and plans?
To judge the effectivness of the stragegies and to help ensure success.
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What are the influences on the marketing mix?
Finance e.g Makreting budgets / Technology / Market research
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Define market planning?
Producing a schedule of marketing activities based on decisions about the markeitng mix. This will show when, what and how much will be spent on products advertising, promotion and distribution.
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