Business Studies Unit 3 Marketing and Operational Strategies

Card Set Information

Author:
daniel99
ID:
271580
Filename:
Business Studies Unit 3 Marketing and Operational Strategies
Updated:
2014-04-30 05:18:12
Tags:
business
Folders:

Description:
Business Studies Unit 3 Marketing and Operational Strategies
Show Answers:

Home > Flashcards > Print Preview

The flashcards below were created by user daniel99 on FreezingBlue Flashcards. What would you like to do?


  1. Internal factors influencing marketing objectives (4)
    • Corporate objectives
    • Finance
    • Human resources
    • Operations
  2. External factors influencing marketing objectives (3)
    • Market
    • Technology
    • Competitors
  3. SWOT analysis is ...
    • Strengths
    • Weaknesses
    • Opportunities
    • Threats
  4. Advantages and disadvantages of quantitative analysis (3 & 4)
    • Quick to obtain
    • Quick to analyse
    • Trends can be extrapolated from it

    • Could be out of date
    • Problems if too much data
    • Random variations make it difficult to draw conclusions
    • Trends don't always follow the same pattern
  5. Advantages and disadvantages of qualitative analysis (3 of each)
    • Focuses on needs of customers
    • Learn more about behavioural trends
    • Some managers prefer data provided by a human

    • Time consuming
    • Can be unreliable
    • Uses small samples
  6. Ways of segmenting a market (8)
    • Income
    • Age
    • Gender
    • Geographical region
    • Amount of use
    • Ethnic grouping
    • Family size
    • Lifestyle

  7. What five fluctuations are shown here?
    • Upward trend
    • Downward trend
    • Random fluctuation
    • Seasonal fluctuations
    • Constant trend
  8. What technique is used to smooth out seasonal fluctuations?
    Moving averages
  9. What are the four marketing strategies in Ansoff's matrix?
    • Existing market / existing product: Market penetration
    • Existing market / new product: Product development
    • New market / existing product: Market extension or development
    • New market / new product: Diversification

What would you like to do?

Home > Flashcards > Print Preview