Podcast
Questions and Answers
Which role is primarily responsible for the analysis, evaluation, and execution of marketing strategies?
Which role is primarily responsible for the analysis, evaluation, and execution of marketing strategies?
- Marketing Services Manager
- Commercial Director
- Product Manager
- Marketing Manager (correct)
What type of demand occurs when a company purchases something for the first time?
What type of demand occurs when a company purchases something for the first time?
- Effective Demand
- Initial Demand (correct)
- Additional Demand
- Derivative Demand
Which of the following would be an example of an abstract market?
Which of the following would be an example of an abstract market?
- A local farmer's market
- A retail store
- A trade fair
- An online e-commerce store (correct)
In a market, who typically sets the requested price?
In a market, who typically sets the requested price?
Which economic scope focuses on the relationship of a specific industry?
Which economic scope focuses on the relationship of a specific industry?
Flashcards
Micro Economics
Micro Economics
The study of how individual companies earn money and make decisions in the marketplace.
Concrete Market
Concrete Market
A physical place where buyers and sellers meet to exchange goods. For example, a farmers market.
Abstract Market
Abstract Market
A market where buying and selling occurs without a physical location. Online marketplaces are good examples.
Derivative Demand
Derivative Demand
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Effective Demand
Effective Demand
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Study Notes
Marketing Roles
- Commercial Director: Oversees all commercial activities (sales and marketing strategy).
- Marketing Manager: Responsible for analyzing, evaluating, and implementing marketing activities under the commercial director. Responsible for activities like planning, administration, and customer service.
- Product Manager: Responsible for analyzing, planning, implementing, controlling, and evaluating product marketing.
- Account Manager: Acts as liaison between clients and the organization.
- Webshop Manager: Responsible for analysis, planning, implementation, control, and evaluation of a company's online shop.
- Content Manager: Responsible for analyzing, planning, implementing, and evaluating content.
- Online Marketer: Implements online marketing activities for an organization.
- Marketing/Communications Assistant: Supports the marketing manager and marketers with tasks.
Marketing Economics
- Macroeconomics: All economic activities in a country.
- Microeconomics: Individual companies and how they generate revenue.
- Mesoeconomics: Focuses on a particular industry or group of companies.
Demand
- Potential Demand: How much a market could potentially grow.
- Initial Demand: Initial interest in a product.
- Derivative Demand: Additional demand from subsequent purchases.
- Additional Demand: Demand from further developments or additional purchases.
- Issues with product sales: difficulty in bringing a product to market due to high costs from various suppliers. Difficulties in setting competitive pricing, when buyers or potential buyers have difficulty calculating a product's true worth.
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