Year 11 Unit 2 Topic 2 Term 3 Entering Markets

Which is not a consideration when entering markets

• Completing a situation analysis and market research

• Understanding the Australian Consumer Laws

• Understanding immigration laws

• Developing marketing objectives

What does marketing involve?

• Market research and situational analysis

• Alignment of marketing objectives with business goals

• Marketing strategy and processes

• Evaluation and control and/or enhancements to marketing strategies

• Promotional avenues and the marketing mix

Marketing activities being aligned with business objectives is integral for effective strategic planning.

• True

• False

CRM or customer relationship management evolved around

• 1860 - 1920

• 1920 - 1940

• 1940 - 1960

• 1960 - 1990

• 1990 - 2010

The aim of relationship marketing is to establish, maintain and enhance relationships with customers by

• meeting their immediate need or want

• allows for personalised offers and to connect loyal customers

• persuading people to buy products

• mass production for cheaper goods and services

This market involves businesses in gathering natural resources and the production and sale of raw materials

• Industrial markets

• Intermediate markets

• Resource markets

• Consumer markets

This market involves businesses acting as retailers, selling directly to end users of the product or service.

• Industrial markets

• Intermediate markets

• Resource markets

• Consumer markets

Markets in which a product is aimed at all consumers is known as

• mass markets

• market segments

• niche markets

What does not influences consumers?

• Motivation

• Attitudes

• Culture

• Organisational structure

Which of the following is a Psychological factor

• perception

• culture

• family

• economic recession