The Basics
Product, Price, Promotion, Place, Position
What are the 5 P's?
___________ your market involves asking who, what, and where
What is Segmenting?
___________ is dumb, PR is strategic
What is Advertising?
The law of ______ states that as price increases, quantity supplied increases
What is supply?
Being _____ in the mind of the customers gives companies a huge advantage in terms of positioning
What is "first"?
Customer Solution, Customer Cost, Customer Communication, Customer Convenience, Customer Mind
What are the 5 C's?
Before you start any marketing program, promotion, or advertising… know your ______ _______ and audience
What is "target market"?
"It’s not who you know, it’s _____ _____ _____"
What is "who knows you"?
The law of _____ states that as price increases, quantity demanded decreases
What is demand?
Operate in multiple countries and adjusts its products and practices according to the specific culture that is in that country, which results in high relative costs
What are Multinational corporations?
Includes need recognition, information search, evaluation of alternatives, purchase decisions, and post purchase behavior
What is the Buyer Decision Process?
Include awareness, interest, evaluation, trial, and adoption
What are the Stages of Adoption?
The most effective kind of advertising because people believe their friends and family over traditional advertisements
What is "Word of mouth"?
How a product is set or positioned in customers’ minds
What is Brand Positioning?
Don’t adjust their products and practices, and has a standardized product, which results in lower relative costs
What are Global corporations?
Brand vision, Brand personality, Brand positioning
What is the Brand Management Model?
There are 4 types of _______ _______ ______: mass markets, differentiated, concentrated, and micro
What is "strategic market targeting"?
Marketing is about ___________
What is "connectedness"?
_____ ________’s goal is to create maximum awareness by using low budget and high impact
What is Buzz Marketing?
Drives consumers relentlessly toward the same common goals – alleviation of life’s burdens and expansion of discretionary time and spending power
What is Technology?
Business do not drive brands, brands drive businesses and brands drive marketing
What is the The New Business Paradigm?
Very personal, evoke emotion, live and evolve, communicate, develop immense trust, engender loyalty and friendship, and give great experiences
What are Power Brands?
When coming up with _________ _____, one must think with the end in mind
What are "marketing goals"?
Buyer Behavior, Buyer Decision Process, Product Adoption
What is the Marketing Research Process?
A virtue that compels people to bring value to a market
What is Competition?