Pricing strategy
When consumers are very sensitive to a price change
What is elastic?
What are 3 types of media used to build web traffic?
What is Paid, Owned, or Earned?
What does the AIDA acronym stand for (name the word for each letter)?
What is attention, interest, decision (or desire), & action?
Name each of the 4Ps in the marketing mix:
What are product price, promotion, & placement / physical distribution?
The survey indicates 51% want Biden for President and 49% choose DeSantis, with a standard deviation of 5. Should you confidently expect Biden to win?
What is "no?"
When consumers must make a choice but don't have enough time to decide
What is inelastic or price insensitive?
When you go from a cold prospect to interested, to considering a purchase you move through the firm's ______?
What is the funnel?
This color evokes power, passion, and excitement
What is red?
Name the words of the SWOT analysis (acronym):
What are strengths, weaknesses, opportunities & threats
A brainstorm's goal is to generate ideas. Is the initial focus on the quantity or quality of these ideas?
What is quantity?
When a retailer has no sales, & prices are low
What is EDLP (everyday low pricing)?
Bobby Backpacker and Susie Overnighter are examples of a firm's ___________
What is a persona?
This color prompts calm, wisdom, & trust
What is blue?
List the stages of the product life cycle (PLC) in order:
What are Launch/innovation; growth, peak, and decline?
How many people are considered ideal for a focus group?
What is 8 - 12?
When a store raises the price by 10% and sales fall by 10%
What is unitary elasticity
Best way to sell your service offering on tik tok
What is a Short Form Video?
Name at least two of the 6 human needs
What is consistency, variety, significance, connection, meaning?
Do emotional or logical reasons typically and initially drive people to decide to buy something or make a change?
What is Emotional? or ERBN?
When a manufacturer wants to test a new price, they will commonly develop a type of test called an ______ test.
What is an A/B test?
When prices change all of the time due to electronic signs and data analysis
What is a Dynamic Pricing strategy?
Where the user goes after entering the "click here" button
What is a landing page?
A firm's current standard text, design, logo, and all package elements to attract new customers
What is the control?
List the 4 elements comprising a target market?
What are demographics, cultural / geographic background, psychographic/generational, and /or behavioral?
Describe the difference between a sample and a universe?
A sample is some members of a group while a universe encompasses every member of the entire group?