Marketing Basics
4 Ps of Marketing
Product Price Place Promotion
This word is used to describe how a given area uses their resources
Economy
This part of the sales process is usually done last in order to increase profit
Suggested sale
Plain folks
(I didn't have a place to put this)
What type of product placement is used when a character is using an item, but not speaking of it?
Active placement
When looking at a target market, this describes objective and observable characteristics about a person
Demographic
This term refers to large scale decisions in an economy
Macroeconomics
This is usually done after you handle objections
Close the sale
Which form of appeal would giving facts and statistics fall into? (Ethos, Logos, or Pathos)
Logos
My rent is a ____ cost, my utilities are a _____ cost
Fixed, Variable
When looking at a target market, this describes behaviors of a target market
Psychographic
These are things that encourage people to use their resources
Incentives
After you greet the customer you should do this
Determine wants and needs
What are feelings we typically associate with Blue?
Pricing something based on how similar companies price theirs
Competitive Pricing
Where do you look to find opportunities and threats in a SWOT analysis
External factors
This term refers to the want of something outweighing the quantity
Scarcity
What is a main characteristic of a suggested sale
It should compliment the main sale
Buying in bulk/ cost from buying directly from the manufacturer
Wholesale cost
Where do you look to find strengths and weaknesses in a SWOT analysis
Inside your own company
This organization regulates all transactions of the public
Federal trade commission
This is the MOST important part of the sales process
Preapproach
This term refers to being ahead of the times
Avante Guard
Jordans cost very little to make, yet they cost so much?! This is due to this type of pricing
Demand pricing