revision notes

revision notes

´╗┐Marketing mix;

PRODUCT: design, technology, convenience, value, quality, packaging, branding.

PLACE: retail, wholesale, Internet, direct sales.

PRICE: strategies, skimming, cost plus/loss

PROMOTION: offers, advertising, endorsements, trials, free gifts, competitions, leaflets.

PEOPLE: employees, management, culture, customer services.

PHYSICAL: smart, run down, comfort, facilities.

PROCESS: how are services consumed (mostly relevant to service industries)?


Project Life Cycle

1. PROJECT DEFINITION- setting then project scope, agreeing goals/objectives, budgets, time scale.
2. PREPARATION AND PLAN- delivery of project, supporting resources.
3. FULFIL- carrying out project, risks, refer to budget
4. REVIEW- handing over the project and evaluation; positive and negative factors.


Types of Business Events

Routine and non-routine
Formal and informal
Exhibitions
Receptions
Conferences
Trade fair stands


Types of Segmentation

Demographics
Psychographic
Geographically



Proper planning prevents poor event performance
Market research; the systematic design, collection, analysis and reporting of data and findings relevant to a specific marketing situation.

Quantitive Data, Qualitive Data, Primary and Secondary Research.


Purpose of market research- used to make marketing decisions

Strategic; informs major marketing decisions

Technical; better ways of carrying out marketing compared to what is currently offered

Databank; updates and makes new entries to an organisational database

Continuous; relates to the external environment and any conditions

ADHOC; random



Differential Psychology;

Identity- who we are

Cognitive- how we think

Affective- how we feel

Behavioural- how we act


Attraction Selection Attrition Model (ASA)

Locus of Control Model (Internal or External)





Income (capital)
Revenue
Grants
Total Income
Tax Revenue
Sales excluding costs...

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