Formulas
Total units sold X price per unit
Total revenue
A particular group of consumers at which a product or service is aimed
Target market
Measures a persons receptivity to new ideas, imagination and experiences
Openness
A psychological theory proposing that human motivation is driven by a five tier pyramid of needs, ranging from basic survival to self - actualization
Maslow‘s hierarchy of needs
where marketing happens:
social media, online streaming, etc
TV commercial, Newspaper, print magazine
Marketing essentials
(Cost per unit) X Units sold
Total variable cost
Statistical data relating to the population and particular groups within it
Demographics
Organize, responsible, disciplined, and goal-oriented
Conscientious
The tendency of some consumers to continue buying the same brand of goods rather than competing brands
Brand loyalty
EBIT- total taxation
Net profit
Total monthly costs X 12
Total fixed cost
People follow others
Example: reviews, influencers, and “Everyone is buying this“
Social psychology & group behavior
Sociability, assertiveness, and high energy levels, with individuals deriving energy from social interaction
Extroversion
A category of threat that only results in a loss or no loss, with no possibility of financial gain
Pure risk
EBIT X 0.265
Taxes
A psychological phenomenon where people emulate the actions of others to reflect correct behavior in uncertain situations
Social proof
A cooperative, compassionate, and trusting approach to others
Agreeableness
A type of uncertainty that offers three potential outcomes: profit, loss, or no change
Speculative risk
Revenue - (variable cost + fixed cost)
EBIT
Marketing based on emotions and brain reactions
Example:
1. Making people feel safe
2. Reducing fear
3. Making people feel accepted
4. Making people feel special
Neuromarketing
A tendency toward anxiety, moodiness, and sensitivity to stress
Neuroticism
the company’s overall plan to sell a product and or/service.
Marketing strategy