AQA Business Studies - Operational Management and Marketing Mix

Flashcards covering concepts of operational management examples, sponsorship, trade fairs and exhibitions, influences on promotional mix, and the 'place' element of the marketing mix.

What are some examples of businesses mentioned in relation to operational management?

Coca-Cola, Walkers, Tyrell, Barber shops, Superdry.

What is the definition of sponsorship in a business context?

Sponsorship is where a business gives financial support to an individual or event.

What are the typical purposes of trade fairs and exhibitions for businesses?

They are often used to demonstrate a product and to target other businesses.

Name at least three influences on the choice of promotional mix for a business.

Campaign objectives, costs and budgets, target market, balance of promotions in a campaign, legal factors, seasonal/trends, and external factors like competitors' actions or the economic climate.

How is 'place' defined within the marketing mix?

Place defines both the physical location where a product is available and the distribution channel it has travelled through to get from the manufacturer to the customer.

What are the two main types of location where buyers and sellers interact, as described regarding 'place'?

Place can be a physical market where buyers and sellers meet face-to-face, or a virtual location, for example, over the internet.

What approach are firms increasingly adopting when it comes to 'place'?

Firms are increasingly adopting a multi-channel approach to place.