Intro to Marketing
What is commonly referred to as the "5th P"?
People
What are the 3 types of marketplaces that are built between businesses and consumers?
B2B, B2C, and C2C
This Facet of Branding involves appealing to the customer's desire to belong in a group or be associated with a certain lifestyle.
Social Branding
A leader with this Leadership Style is collaborative, team oriented, and inclusive.
Democratic Leader
This describes how much of a good or sevice that sellers are able and willing to offer for sale at a specified price and in a given time period.
Supply
Physical and non-physical items that satisfy customer needs/wants are called _________ and ________.
Goods and services
Personal selling platforms are an example of what kind of marketplace?
C2C
This Facet of Branding involves a company paying for goods to appear in movies, tv shows, or other media that are not clearly advertisements.
Product Placement
These two business ownership structures provide legal protections for business owner(s).
LLP, LLC
This describes How much of a good or service that a customer will purchase at a given price.
Demand
What are the 4 components of the strategic framework called the Marketing Mix?
Product, Price, Place, and Promotion
CRM is a strategy that includes examples like Birthday Discounts and loyalty programs. What does CRM stand for?
Customer Relationship Marketing
This Facet of Branding involves a company appealing to a customer's feelings like sadness, anger, or nostalgia.
Emotional Branding
What are the 3 Management Styles?
Autocratic, Democratic, Laisse-faire
This type of Market Structure involves a single seller, selling unique product in the market with no competition
Monopoly
This marketing strategy involves dividing potential customers into groups in order to identify a smaller target audience.
Segmentation
What are the 4 types of segmentation?
Demographics
Geographics
Psychographics
Behavioral
This Facet of Branding uses celebrities or influencers as spokespeople for products.
Endorsement
In this Business Ownership Structure, an established company licenses its brand, operating system, and products to an independent operator in exchange for fees and royalties.
Franchise
This type of customer includes people inside of the company who rely on each other’s work to function
Internal Customers
The 4 categories of goods are...
Convenience, shopping, specialty, and impulse
This tool is used in strategic planning is used to assist a business in determining internal and external factors that impact the business or product.
SWOT
This Facet of Branding involves explaining the product's capabilities or advantages.
Functional Branding
Provide 4 types of Leadership Styles.
Autocratic, Democratic, Laissez-Faire, Transactional, Transformational, Servant Leadership
What are two examples of sales channels?