CAMS Level II
Principles of Marketing and Communication flashcards
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What are the five marketing orientations, and what does each focus on?
Production concept: products that are widely available and affordable, so production efficiency and distribution reach. Product concept: the highest quality, performance or features, so continuous product improvement. Selling concept: customers will not buy enough unless persuaded, so aggressive selling and promotion. Marketing concept: start from customer needs and satisfy them better than competitors. Societal marketing concept: balance customer satisfaction, company profit and society's long-run wellbeing.
What is STP, and why is its order fixed?
Segmentation, targeting and positioning. It is a strict sequence: a business cannot target before it has divided the market into segments, and cannot position a product before it knows which segment it is targeting.
What turns 'increase sales' into a proper marketing objective?
Stating how much and by when, for example: increase monthly unit sales by 30% within six months. Without measurable objectives a plan cannot be evaluated, and money is spent with no way of knowing whether it worked.
Why can small improvements in customer retention have a large effect on profit?
Retaining a customer usually costs far less than winning a new one. Loyal customers tend to buy more over time, cost less to serve and bring others through recommendation. So losing a customer costs the whole future stream of purchases and referrals, not just the next sale.
What are the six steps of the complaints procedure, in order?
1. Receive and log the complaint, whatever channel it arrived through. 2. Acknowledge receipt within a defined timeframe. 3. Investigate the underlying cause. 4. Decide and communicate a resolution. 5. Implement the resolution. 6. Record the complaint and its resolution to identify any recurring pattern.
What are the five stages of the communication process, and what closes the loop?
Source (the sender forms an idea), encoding (into words, symbols or gestures), channel (the medium), decoding (the receiver interprets it) and feedback (the receiver responds). Feedback closes the loop: it is the only way the sender learns whether the meaning arrived.
What are the seven Cs of effective communication?
Clear: unambiguous. Complete: contains everything the receiver needs. Concise: no unnecessary length. Courteous: respectful in tone. Correct: accurate in fact and grammar. Considerate: framed with the receiver's viewpoint in mind. Concrete: specific rather than vague.
What are the four steps of the writing process, and how do revising and editing differ?
Prewriting, drafting, revising, editing. Revising checks structure, content, clarity and whether the document achieves its purpose. Editing is the final pass for grammar, spelling, formatting and tone, before the document is sent.
What are the four methods of delivering a presentation?
Manuscript: read word for word from a script; precise but often stiff, with less eye contact. Memorised: no script or notes; strong eye contact but a risk of losing one's place. Extemporaneous: rehearsed from an outline or brief notes; generally the most effective balance. Impromptu: little or no advance preparation, in response to an unexpected request to speak.
How do the roles of the chairperson and the secretary of a meeting differ?
Chairperson: presides, keeps discussion to the agenda and within time, ensures everyone entitled to speak is heard, summarises decisions and, in most bodies, has a casting vote on a tie. Secretary: prepares and circulates the notice and agenda, records attendance, takes the minutes and follows up actions. In short, the chair runs the discussion and the secretary runs the paperwork.
What is a market?
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What is marketing?
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What are the five steps of the marketing process?
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How does the societal marketing concept differ from the marketing concept?
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Why is marketing said to link the organisation to its external environment?
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What are the four bases of market segmentation?
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What are the five steps of the segmentation process?
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Compare undifferentiated, differentiated and concentrated marketing.
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What does selecting a target market weigh up?
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What is market positioning, and how is a positioning tested?
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On what grounds can a product be positioned?
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What does a positioning map show?
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What are the 5Ps of the marketing mix, and why does the fifth matter most in services?
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Why must the elements of the marketing mix agree with one another?
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What is a marketing plan?
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What are the qualities of a good marketing plan?
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In what order does a marketing plan bring its components together?
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Why is the executive summary of a marketing plan written last but placed first?
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Tamu Juices sells 2,000 bottles a month with a contribution of KES 30 each, and plans to reach 2,600 bottles a month on a KES 60,000 budget. How long does the budget take to recover?
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Why do marketing plans fail in implementation, and what makes one more likely to be carried out?
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What is the difference between customer satisfaction and customer loyalty?
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What is the difference between customer service and customer relations?
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What are the five principles of customer service?
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What is excellent customer service built on?
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Why does attracting new customers work best when it builds on existing ones?
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What is the difference between active and passive methods of gathering feedback?
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How should a staff member handle a difficult customer?
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How do satisfaction scores, net promoter measures and repeat purchase rates compare as measures of satisfaction?
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What keeps customers loyal?
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What are the six elements of communication?
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In which four directions does formal communication flow?
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What are the strengths and dangers of the grapevine, and what is the best defence against rumour?
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What are the main advantages and disadvantages of oral and written communication?
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What are the six barriers to communication?
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How are communication barriers overcome?
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When is each of these used: a letter, a memo, a report, a circular, a notice?
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How do structured, semi-structured and unstructured interviews differ?
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Why are interview records kept, and how?
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What happens before, during and after a formal meeting?
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What are minutes, and what should they record?
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How to revise with these cards
- Answer out loud or on paper before you turn the card: recalling is what fixes it.
- Go through the deck in short sessions of ten to fifteen minutes, every day.
- Shuffle once you know the order, so you are not answering from memory of the sequence.
- When a card catches you out, read the chapter it links to, then try the topic in a past paper.