1Define what is meant by product differentiation.
Product differentiation is the process of making a product stand out from competitors by highlighting its unique features or qualities.
2Explain the different ways products can be differentiated.
Different ways products can be differentiated include superior quality, unique design, trusted branding, exceptional customer service, and strategic physical locations.
3Provide real world examples of product differentiation.
Tesla differentiates its cars with electric power, advanced technology, and self-driving capabilities.
4Define CSR and give examples of businesses acting in a socially responsible way.
CSR is Corporate Social Responsibility, where businesses promote social and environmental impact beyond profit-making. Patagonia donates to environmental causes and uses sustainable materials; Ben and Jerry’s supports fair trade, sustainable sourcing, and social justice causes.
5Define green marketing.
Green marketing is promoting products and services based on their environmental benefits, such as sustainability, reduced waste, or eco-friendliness.
6Explain how FairTrade works.
FairTrade is a certification ensuring fair wages, safe conditions, and community support for producers in developing countries. Products like coffee or chocolate sold under FairTrade guarantee fair payment to farmers.
7Define promotion mix and state the aims of promotion.
The promotion mix is the combination of promotional tools a business uses to reach marketing goals. The aim of promotion is to inform, persuade, and remind customers about a product or service.
8Describe the features and advantages of each type of promotion.
Advertising: Broad reach and brand awareness. Sales Promotion: Quick purchase encouragement. Personal Selling: Direct interaction useful for complex products. PR: Builds a positive image. Direct Marketing: Targeted communication like emails.
9Identify the advantages of advertising over other forms of promotion.
Advertising has a broad reach, builds a brand, offers consistent messaging, and builds a positive image through media.
10Distinguish between informative and persuasive ads.
Informative ads provide facts, like car specs; persuasive ads aim to influence emotions or opinions, like “buy one, get one free” offers.
11Define what is meant by gender role stereotypes.
Gender role stereotypes are preconceived ideas about the roles and behaviors of men and women.
12Identify instances where gender stereotypes exist in promotion.
Ads showing women only in caregiving roles or men only in leadership roles.
13Define target market, market segmentation, niche market, and mass market.
Target market: Specific group of customers a business wants to sell to. Market segmentation: Dividing a market into smaller groups with similar needs. Niche market: Focused, specialized segment like vegan skincare. Mass market: Products aimed at a wide, general audience.
14Describe why businesses segment the mass market.
Businesses segment the mass market to tailor products and marketing to meet specific customer needs, leading to more effective targeting.
15Describe promotion strategies that target young people.
Promotion strategies for young people include social media ads, influencer partnerships, and gamification.
16Describe how advertising for young people is regulated.
Advertising for young people is regulated to ensure ads are truthful, age-appropriate, and free of harmful content.
17Outline promotion activities that are considered deceptive and misleading.
Deceptive promotion includes false advertising, hidden fees, or exaggerated claims.
18Identify and describe ethical issues related to product promotion.
Ethical issues in promotion include targeting vulnerable groups, spreading false information, and using harmful stereotypes.
19Judge whether a promotion strategy is unethical.
A promotion strategy is unethical if it misleads consumers, promotes harm, or targets vulnerable groups like children in an exploitative way.