Market
All potential customers who share needs and wants and have the ability to buy
What is a market
Age, Gender, Income, Ethnic Background, Martial Status are all part of which market segmentation
Demographics
Company, Customers, and Competitive Position are the ______
3 C's
What does SWOT stand for
Strengths, weaknesses, opportunities, threats
The mom buys diapers for her baby. Who is the customer and consumer?
Mom is the customer
Baby is the consumer
Activities, attitudes, personalities/values/lifestyle are part of which market segmentation
What is psycographics
What does PEST stand for
Political, Economic, Socio-cultural, Technological
Which are internal
strengths and weaknesses
Percent of all sales volume of all companies in a given market
What is market share
after paying taxes and living necessities (food, shelter, clothing)
What is discretionary income
A change in law is an example of which PEST
political influence
which are external
opportunities and threats
Single marketing strategy to reach all customers
What is mass marketing
Which type of market segmentation is it when segmenting the market based on where people live
Geographic
What is our market share? What advantages do we have? Are we taking away our competitors business
These are all questions to ask when considering____
competitive position
Having Samsung as a competitor would be a ___________ for Apple
threat
Using different strategies based on demographics, psychographics, geographics and buying behaviors
What is niche marketing
Use emails and website ads to market to this generation
Generation Y
Staff (employee) related questions are important when considering_____
company
Starbucks having a strong brand image is an example of a________
strength