Chapter 5: Marketing and Promotion

Promotion

________: any form of communication that will raise awareness and knowledge about a product or service.

Positive organisational

________ and product image: customers like to use brands they are familiar with or which they perceive offers the best quality and value for money.

Competitive advantage

________: plays an important role in helping organisations or destinations to attract more customers than their rivals, in order to survive in the competitive business environment.

Secondary market research

________: also known as desk research as it involves using existing information that has been collected by the third- party for a different purpose for using data from organisations own records.

Brand image

________: the general impression or representation of a product /organisation /destination.

Geographic segment

________: by locality, area and region.

Primary market research

________: also known as field research used to find out about customers experiences and expectations.

Demographic segment

________: by age, gender, ethnic city and levels of disposable income.

Marketing

The management process responsible for identifying, anticipating and satisfying customer requirements profitably.

Promotion

Any form of communication that will raise awareness and knowledge about a product or service.

Increased sales, usage and profitability

This means that organisations use marketing in order to increase size of customer base and seek more sales leading to more profit.

Competitive advantage

Plays an important role in helping organisations or destinations to attract more customers than their rivals, in order to survive in the competitive business environment.

Positive organisational and product image

Customers like to use brands they are familiar with or which they perceive offers the best quality and value for money.

Customer satisfaction

A good way to achieve customer satisfaction is by offering products and services which meet the needs and wants of customers.

Brand image

The general impression or representation of a product/organisation/destination.

Primary market research

Also known as field research used to find out about customers experiences and expectations.Primary research methods include self completion questionnaires or telephone and internet surveys. advantages of primary market research are That you get new and relevant data based on the current trends in the market and you can design your own research based on your needs. disadvantages include that it can be very time-consuming and expensive to attain

Secondary market research

Also known as desk research as it involves using existing information that has been collected by the third-party for a different purpose for using data from organisations own records. Can be internal, data from the organisations own sales records or customer database. Can be external, which might include government produced data or reports.Advantages can be that it's very cheap and doesn't take much time. Disadvantages can be that date it might be old and irrelevant as of the current time and trends.

SWOT analysis

Strengths, Weaknesses, Opportunities, Threats.

PEST analysis

Political, Economic, Social, Technological.

Geographic segment

By locality, area and region.

Demographic segment

By age, gender, ethnic city and levels of disposable income.

Lifestyle segment

Also known as psycho-graphic segment.