Market Segments
How many market segments are there to analyze sales data?
4
Which pricing strategy is a percentage discount extended to vendors?
Distribution
Other businesses that sell products that are different from a business but are similar enough that their products could satisfy the same need is called what?
Indirect Competitors
What are the two main sales channels?
Digital and Physical
Primary data is more ___________ and reliable compared to secondary data.
Accurate
Which market segment shares a customer's age, gender, and ethnicity?
Demographic
DAILY DOUBLE
Which pricing strategy offers lower prices to new customers during a special pricing period?
Penetration
Businesses that sell the same or similar products or services is called what?
Direct competition
What does B2C mean?
Business to Customer (Retail Stores)
A marketing method that uses ads on a website with a search engine is what type of advertising?
Pay Per Click
Which market segment shares a customer's location?
Geographic
Which pricing strategy prices similar to competitors with a small variation?
If Ellie owns a tumbling gym, is a gymnast training center a direct or indirect competition?
Direct
What does B2B mean?
Business to Business (Wholesalers to Businesses)
What do investors use to determine the cost of acquiring new customers?
CAC (Customer Acquisition Cost)
Which market segment anticipates a customer's needs?
Behavioral
Which pricing strategy charges for the believed worth of a product or service?
Value-Based
What are the internal factors that impact a business in a SWOT analysis?
Strength and Weakness
In which step of the sales process would a customer decide to purchase a product?
Closing
It is more cost-effective to keep current customers than to acquire new customers. True or False
True
DAILY DOUBLE
Which market segment shows how a customer views the world?
Psychographic
Which pricing strategy is determined by taking the cost of a product and adding a profit margin?
Cost-Plus
DAILY DOUBLE
What are the external factors that impact a business in a SWOT analysis?
Opportunity and Threat
What are the seven steps of a sales process?
Prospecting, Preparation, Approach, Presentation, Objection, Closing, Follow-up
(Professor Presley’s Airplane Presented On the Corn Field.)
Which marketing method uses specific technical elements to be among the top search results?
SEO (Search Engine Optimization)