how a business communicates product info to existing and potential customers to try and get them to buy it
1 of 18
what is the purpose of a marketing campaign?
to identify the target market and find best way to reach it
2 of 18
what will an effective marketing campaign communicate about a provider?
it values customers, straightforward transparent info, values customer service, doesnt overcharge and doesnt engage in mis-selling
3 of 18
what is market segmentation?
when provider tailors the features of product, price and method of delivery to appeal to market segment
4 of 18
how can markets be segmented by a provider?
.
5 of 18
what is a mass market?
wide range of customers with different ages, gender and income profiles
6 of 18
what is a benfit of targeting a specific subgroup of the market?
helps the provider to maximise sales and get best value for money
7 of 18
what are 4 essential components of effective marketing materials?
design, language, lifestyle and values
8 of 18
what does FCA require providers do regarding promotional material?
they mustnt hide important info and make all risks clear
9 of 18
what does the ASA require providers do regarding advertising?
advertisements have to be legal, decent, honest and truthful. risk warnings should also be set out prominently, early in document and in large font
10 of 18
what is a mailshot?
distributed among existing customers or to people who appear on databases as likely to be potential buyers of the product- the target group means theyre timely and effective
11 of 18
why cant providers compete on price?
each firm is so big that its rivals learn immediately of any change in pricing policy
12 of 18
how can these providers compete?
through product quality and development, services they provider and through marketing and advertising costs
13 of 18
what are factors affecting method chosen?
cost, target ability, objective and economic climate
14 of 18
how can the success of a marketing campaign be evaluated?
efficiency, quality and consistency
15 of 18
what makes a marketing campaign efficient?
provider reputation, knowledge of product type and knowledge of specific product
16 of 18
what makes a marketing campaign good quality?
clear language, accurate info and improved understanding
17 of 18
what makes a marketing campaign consistent?
whether it's what people would expect from the provider
18 of 18
Other cards in this set
Card 2
Front
what is the purpose of a marketing campaign?
Back
to identify the target market and find best way to reach it
Card 3
Front
what will an effective marketing campaign communicate about a provider?
Comments
No comments have yet been made