BM - Recap 5.2 - 5.4

1. Define MARKETING

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Answer explanation

Marketing is a total system of interacting activities designed to plan, price, promote and distribute products to present and potential customers.

To assist establishing a customer base it can be useful to create a customer _____________.

What does a Customer Profile include ?

• Customer behaviour, Customer interest, Market share analysis, Customer demographics

• Customer location, Sales Analysis, Customer interest, Customer behaviour

• Customer interest, Customer behaviour, Customer demographics, Customer location

• Market Profitability analysis, Customer demographics, Customer location, Sales analysis

Choose one Business Objective. Then, explain how Marketing can help achieving that Business Objective

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How can a business evaluate whether their Marketing is effective, and helps achieving the Business Objectives ?

Define BRAND IDENTITY

• The main activities of the brand

• The message that customers receive about the business and its product.

• The main marketing strategies that form the brand images

• The brand name

List ALL the factors in the INTERNAL ENVIRONMENT

List ALL the factors in the EXTERNAL (Operating) ENVIRONMENT

List ALL the factors in the EXTERNAL (Macro) ENVIRONMENT

Outline the 3 steps in the Market Research Process