A1 - The Role of Marketing

What is the role of marketing?

• To make customers aware of the products or services a business provides.

• To make customers not aware of the products or services a business provides.

• Marketing is the identification, satisfying and revisiting of customer needs.

What is Guerilla Marketing?

• An advertisement strategy in which a company uses TV advertisements and hashtags to promote a product/service.

• An advertisement strategy in which a company uses surprise/unconventional interactions in order to promote a product/service.

• An advertisement strategy is which a company uses just social media to promote.

The principles of marketing are to generate customer satisfaction by:

• Identifying needs

• Promoting products/services

• Distributing the brand in the right locations

• Focussing on just making lots of profit rather than identifying needs.

What is anticipated demand?

• Once a marketing campaign has been executed, it is essential that a business has effective methods to assess if demand has increased.

• Attempting to estimate and anticipate the demand that could be generated by a marketing campaign is a key purpose of marketing.

What is diversification?

• Where a business markets new products which differ from its usual offering to new customers.

• Where a business markets existing products which differ from its usual offering to new customers.

• Where a business markets new products which differ from its usual offering to existing customers.

What are the 4 types of market segmentation called?

• Psychological, Demographic, Behavioural and Geographic

• Psychographic, Demographic, Behavioural and Geographic

• Psychographic, Demographic, Behavioural and Globally

What does USP stand for?

• Unique Sales Position

• Unique Sales Point

• Unique Selling Point

What does SME stand for?

• Small to maximum sized enterprise

• Small to medium sized enterprise

• Small to middle sized enterprise