Marketing Planning
What is the main purpose of marketing planning?
To set clear marketing objectives and strategies.
What is segmentation?
Dividing a market into distinct groups of customers.
What is a niche market?
A small, specialized segment of a larger market.
What does USP stand for?
Unique Selling Proposition.
What does differentiation mean in marketing?
Making a product stand out from competitors.
True or False: Marketing planning is only done once at the start of a business.
False – it's a continuous process.
Give an example of demographic segmentation.
Age, gender, income, education level, etc.
Give an example of a mass market product.
Toothpaste, Coca-Cola, smartphones, etc.
What makes a USP “unique”?
It highlights something competitors don’t offer.
Name one way to differentiate a product.
Through quality, price, design, branding, etc.
Name one tool used during marketing planning.
SWOT analysis or market research.
What is a target market?
The specific group a product is aimed at.
One advantage of niche markets?
Less competition or highly loyal customers.
Give an example of a brand with a clear USP.
Apple (design + innovation), Domino’s (fast delivery).
Why is differentiation important in competitive markets?
It helps attract and retain customers.
How does marketing planning help a business reduce risk?
By providing direction and predicting market trends.
What is the purpose of a positioning map?
To visually compare products/brands based on key features.
One risk of targeting only a niche market?
Smaller customer base or dependency on a single segment.
How does a USP affect customer loyalty?
It gives customers a specific reason to choose a brand.
How can customer service be used to differentiate?
Offering personalized, fast, or unique service experience.
List 3 elements typically found in a marketing plan.
Objectives, budget, timeline, market analysis, strategies.
Explain one way a company could reposition its product.
Change price, packaging, advertising, or target a new market.
Compare niche and mass markets with an example.
Mass = McDonald’s. Niche = Vegan burger food truck.
What are two characteristics of a strong USP?
Why is differentiation especially important in saturated markets?
Because in markets with many similar products, differentiation helps a business stand out, attract customers, and avoid competing only on price.