Marketing Notes

Definitions: SWOT analysis: involves the identification and analysis of the internal strengths and weaknesses of the business, and the opportunities in, and threats from, the outside environment. product life cycle: consists of the stages a product passes through with(predicate) with(predicate): introduction, growth, maturity and decline. trade data: refers to the instruction relevant to the specialise merchandising problem. primary data: are the facts and figures collected from operate sources for the purpose of the specific investigate problem. secondary data: is data that has already been collected by some other soul or organisation. List in correct sequence the go in the commercializeing process Situational Analysis Market research Establishing marketing objectives Identify backside market Develop marketing strategies Implementation, monitoring and controlling Provide 2 questions that whitethorn be asked of each of the elements of a sit uational analysis Strengths: What is the business good at? Is our product popular? Weaknesses: Have we experienced past failures? Do we have competent managers and staff? Opportunities: What will red-hot use science bring for us? Are interest judge humble? Threats: Are at that place new competitors? Are there new laws regulating what we do?

Draw a plank cover the stages of the product life cycle and different marketing strategies necessary Stages of proceeds Life cycleNecessary Marketing Strategies Introduction harvest-home shop and reliability are established. Price noticeably spurn than compet itors prices in sight to gain a market foot! hold. furtherance to narrow product recognized dispersal is selective, which enables consumers to gradually form an acceptance of the product. GrowthProduct quality is maintained and improved and complement services whitethorn be added. Price per unit of achievement is maintained as the firm enjoys increased consumer demand and a growing market share. Promotion now seeks a wider audience. Distribution channels are...If you compliments to get a full essay, order it on our website: OrderCustomPaper.com

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