← Lessons 07-Marketing Strategies and Principles
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1. INTRODUCTION 2. SWOT ANALYSIS 3. THE MARKETING MIX 4. PRODUCT LIFE CYCLES 5. MARKET SEGMENTATION 6. MARKETING RESEARCH – INTRODUCTION 7. SECONDARY DATA 8. PRIMARY DATA 9. PUBLIC RELATIONS 10. SALES 11. CONCLUSION 12. QUICK EXAM FACTS – MEMORISE THESE 13. FINAL MEMORY CHECKLIST

13. FINAL MEMORY CHECKLIST

  • Know the definition of marketing and why profitability matters.
  • Know all four elements of SWOT and the difference between internal and external considerations.
  • Know the 4 Ps and the extended 7 Ps.
  • Understand Product, Price, Place and Promotion in a road-haulage context.
  • Understand People, Process and Physical Evidence for service businesses.
  • Know all five product life-cycle stages and what happens at each stage.
  • Know why products/services must be monitored as they move through the life cycle.
  • Know what market segmentation is and why specialist segments can support higher margins.
  • Know the difference between secondary and primary research.
  • Know internal and external sources of secondary data.
  • Know the three primary survey methods and their main advantages/disadvantages.
  • Know why questionnaire design, pilot testing, analysis and sample size matter.
  • Know what public relations is and how press releases can help.
  • Know the main sales methods and when each is useful.
  • Remember that marketing should be customer-focused and must ultimately support profitable business activity.