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Cambridge Resources: Answer The Following Questions: 1

The document provides definitions and key details about various marketing concepts and techniques. It lists the four Ps of marketing as price, product, place, promotion and three additional Ps for marketing services as people, process, physical evidence. It defines marketing mix as the combination of marketing decisions used to market effectively and lists three factors to consider for a product's marketing mix: objectives, budget, target market. It defines a marketing audit as a comprehensive analysis of an organization's internal and external marketing environment.

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74 views2 pages

Cambridge Resources: Answer The Following Questions: 1

The document provides definitions and key details about various marketing concepts and techniques. It lists the four Ps of marketing as price, product, place, promotion and three additional Ps for marketing services as people, process, physical evidence. It defines marketing mix as the combination of marketing decisions used to market effectively and lists three factors to consider for a product's marketing mix: objectives, budget, target market. It defines a marketing audit as a comprehensive analysis of an organization's internal and external marketing environment.

Uploaded by

moe14
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Cambridge resources

13. Answer the following questions:

1 What are the four key Ps of marketing? (4)

Price, Product, Place, Promotion

2 What are the three additional Ps that mostly relate to marketing services? (3)

People, Process, Physical evidence

3 Define ‘marketing mix’. (2)

This is the combination of marketing decisions used to market a product or service effectively.

4 State three main factors that need to be taken into consideration when deciding the
marketing mix of a product. (3)

1. Marketing objectives
2. Marketing budget
3. Target market

5 What is a marketing audit? (1)

A marketing audit is a comprehensive, systematic analysis of the business marketing environment of an


organization, both internal and external

6 What are the four main features of primary market research? (4)

1. Up to date
2. Focuses on exactly what business needs to know
3. Time consuming
4. Often expensive
7 What are the four main features of secondary market research? (4)

1. They can be used without processing


2. They need less efforts, time,
3. They give the latest information.
4. They are relatively cheaper

8 Give four commonly used sources of secondary data. (4)

1. Internet searches
2. GPS
3. Trade organizations
4. Newspapers / articles/ books

9 List three primary market research techniques. (3)

5. Consumer surveys
6. Discussion groups
7. Internet surveys

10 State and explain the three main ways in which a market can be segmented. (3)

1. Demographic Segmentation
2. Psychographic Segmentation
3. Behavioral Segmentation

11 What is market positioning? (2)

This is the analysis of consumer perceptions of existing brands in order to identify niche markets, e.g. by price,
quality, image, etc. A market positioning map may be used to present the information visually.

12 Define the term ‘corporate image’. (2)

This is the consumer perception of a company behind a brand or a product.

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