Marketing Mojo
The term for the process of planning, pricing, promoting, and distributing goods and services.
What is marketing?
Definitely the one that doesn't belong to this group: Product, Price, Place, Productivity
What is productivity?
The P in marketing that involves shipping, handling, and storing products
What is Place?
This type of market segmentation groups customers based on lifestyle, interests, attitudes, and values.
What is psychographic segmentation?
In retail, the term that describes the amount a business paid for an item, as opposed to the price at which it is sold to customers.
What is cost?
The marketing concept that emphasizes building and maintaining strong customer relationships to ensure repeat business and loyalty.
What is customer retention?
The business function responsible for measuring, processing, and communicating financial information.
What is promotion?
The process of selling goods in large quantities to be retailed by others.
What is wholesaling?
A group of customers with similar needs and wants.
What is a target market?
The point at which a company's total revenue equals its total costs.
What is break even point?
The primary role of a wholesaler in the distribution process.
What is to buy products in bulk from producers and sell them to retailers?
Product, Price, Place, and Promotion
What are the 4 Ps of marketing?
The term for the activities involved in selling products directly to final consumers for the personal, nonbusiness use.
What is retailing?
Market segmentation based on variables such as age, gender, income, occupation, education, religion, race and nationality.
What demographic segmentation?
Setting the price of a product based on the perceived value to the customer, rather than on the cost of the product.
All of the activities involved in the transfer of goods from the producer or seller to the consumer or buyer, including advertising, shipping, storing, and selling.
What is marketing?
Strengths, Weaknesses, Opportunities, Threats
What does the acronym SWOT stand for in marketing?
A dispute among channel members at different levels of the supply chain, such as a manufacturer, wholesaler and retailer.
What is a channel conflict?
A description of a customer or set of customers that includes demographic, geographic and psychographic characteristics, as well as buying patterns, creditworthiness and purchase history.
What is a customer profile?
A pricing strategy in which a marketer sets a relatively high initial price for a product or service at first, then lowers the price over time.
What is price skimming?
The business function responsible for measuring, processing, and communicating financial information.
What is accounting?
This is the process of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers, based on some type of shared traits.
What is market segmentation?
A distribution strategy aimed at having a product available in every outlet where target customers might want to buy it
What is intensive distribution?
Segmenting potential customers into neighborhood categories.
What is geographic segmentation?
A pricing strategy where a product is introduced ad a low initial price to gain a large market share.
What is penetration pricing?