Marketing (Grade 11 NSC Matric Business Studies): Flashcards
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Marketing definition
Marketing definition
All activities to promote buying/selling of products/services
4 core purposes of marketing
4 core purposes of marketing
Identify buyers, find customers, get attention, make available
Marketing role: identify customer needs
Marketing role: identify customer needs
Find what customers want & value they place on satisfaction
Standardisation
Standardisation
Ensuring products made to same standards (size, weight, colour)
Grading of products
Grading of products
Products graded by quality when can't meet exact standards
Storage (marketing activity)
Storage (marketing activity)
Keeping products in safe facility until needed by customers
Transport (marketing activity)
Transport (marketing activity)
Moving products from one location to another
Bank loans
Bank loans
Borrowing money from financial institutions, repaid w/ interest
Equity funding
Equity funding
Money from investors in exchange for partial ownership
Risk bearing
Risk bearing
Managing uncertainties that come with business investments