The 4Ps
Product, Price, Place, Promotion
What is an advertising campaign?
A series of ads with a consistent focus
What is a brand?
The name, design and/or symbol that identifies a product or company
What is a target market?
A specific group of consumers a business aims to reach
What is the marketing mix?
The combination of the 4 Ps to market a product
Which P refers to how the product is communicated to the target audience?
Promotion
What is product advertising?
Advertising that relays the benefits of a product using rational arguements
What is brand loyalty?
What does psychographic mean?
Lifestyle, values, personality traits of a market
What's a SWOT analysis?
Stengths, weaknesses, opportunites threats
Which P refers to how much customers pay?
price
What is brand advertising?
Advertising that builds an image for a brand or company
What is a logo?
a visual symbol or design to represent a company, product or brand
Why is a target market important?
So a business can effectively communicate with their targeted consumers and gain trust
What is market segmentation?
Dividing the market into groups based on shared traits
Which P refers to where a product or service is sold?
Place
What is corporate advertising?
Focuses on the company as a whole, not a specific product
What is brand equity?
The value of a brand based on customer perception
WHat is a niche target market?
a specific, well-defined segment of a larger market that has unique needs and preferences that are not fully addressed by the mainstream market
What is a unique selling proposition?
A feature that makes a product stand out from the competition
What is the purpose of the 4 Ps?
To create an effective marketing strategy
What is the first step in an ad campaign?
Set objectives
Give an example of a brand that uses logos
Apple, Coca-cola, etc
Give an example of a business that uses a niche target market
Ex: Whole foods = offers clean food option only
How do the 4Ps work together in a successful marketing mix?
They combine to meet customer needs, build brand value, and achieve business goals