4 P's & 2 C's
Another name for the 4 P's.
What is the Marketing Mix?
The 3 levels of Alderfer's ERG Theory.
What are Existence, Relatedness, & Growth?
What are consumer goods?
The competitive advantages for a manufacturing (product) business are split into these 2 categories.
What are Sustainable and Non-Sustainable?
In Canada, consumer demand is mostly driven by this.
What is our wants / what we want?
The study of where consumers live.
What is geographics?
Of the 4 main motivational forces, this one relies mostly on logic.
What is being rational / rationality / rational force?
A company that cleans the offices of a bank would be an example of this type of service.
What is an industrial service?
Apart from reputation and price, service businesses rely on these 3 other forms of competitive advantage.
What are Convenience, Degree of Service, & Selection?
These types of goods are purchased without any planning or searching.
What are impulse goods?
Marketers often create profiles for the consumers most likely to buy a product or service, also known as this.
What is the primary / target market?
The theory that states that consumers are motivated to buy products that produce positive events while avoiding those that produce negative events.
What is Thorndike's Law of Effect?
The Traditional Product Life Cycle is made up of these 5 stages.
What are Introduction, Growth, Maturity, Decline, & Decision Point?
The Wendy's Krabby Patty Kollab is an example of this non-sustainable competitive advantage.
What is a promotion?
Roll Up the Rim is an example of this type of distribution strategy.
What is a pull strategy?
Tropicana Orange Juice and Diet Coke are examples of this.
What are indirect competitors?
Buying certain makeup products because of your friend's opinion highlights these 2 motivational forces.
What are emotional and social?
This is the most unpredictable Non-Traditional Product Life Cycle.
What is a Fad?
As a service business, a competitive advantage can be achieved with these two types of selection.
What are Wide and Deep?
These items are logged, mined, farmed, or otherwise extracted from the earth.
What are Raw Materials?
Values, interests, opinions, and hobbies all fall under this category of consumer segmentation.
What are psychographics?
According to Maslow, consumers are motivated by this.
What is the desire to find self fulfillment / realize their potential?
A service is described as this, meaning you cannot hold it in your hand.
What is intangible?
The PC Optimum Card is an example of this sustainable competitive advantage.
What is creating customer loyalty?
Marketing is typically organized into these 4 categories.
What are Regional, International, Brand, & Distribution?