Marketing and Branding
What is a marketing strategy?
a plan businesses use to connect with their target audience
What is the S in SMART?
Specific
What is Product Expansion?
the introduction of new items or services that align with a business’s brand and appeal to its audience.
Procedures that ensure products and services meet standards (taste tests, prep checks)
Quality Control
support businesses provide to ensure customers have a positive experience
Customer Service
Structured questionnaires asking customers about their experience
Surveys
define target market
a particular group of consumers at which a product or service is aimed
What are growth goals?
Specific targets a business sets to expand and improve
name one od three expansion strategies?
LTO/Seasonal
Diversification
Customer Requested Additions
Keeping Track of supplies to avoid shortages or waste
Inventory Control/Inventory Management
What are the 4 elements of customer service?
Communication
Responsiveness
Empathy
Problem Solving
an anonymous way for customers to share thoughts and ideas
suggestion box
this Creates a UNIQUE identity for a business that resonates with the audience
branding
How do SMART Goals help a business scale?
Focus: Clear direction for business, employees, and all stakeholders
Tracking Progress: Allow for easy monitoring of milestones/progress
Realistic Planning: Helps avoid setting unrealistic expectations
Geographic Expansion is one example of what kind of expansion?
Market Expansion
What does SOP Stand for?
Standard Operating Procedure
Why does customer service matter?
builds loyalty and repeat business
enhances brand reputation and attracts new customers
Increases revenue through retention
Platforms such as YELP, Instagram, Facebooks, and google offer customers a chance to leave comments and reviews. This is known as...
social media feedback
What are 3 elements of branding?
Visual Elements (Logo)
Messaging (Slogan)
Company Personality (Environment)
What is the R is SMART?
Realistic
Adjusting products or services to appeal to different age groups, income levels, or lifestyles is...?
New Demographic Targeting
Written instructions for tasks to ensure consistency
SOP/Standard Operating Procedure
Tailoring the customer experience to individual needs is a strategy of...?
Customer Satisfaction
small, diverse groups of customers providing detailed input
Focus Groups
What is USP?
what makes a product or service different from and better than competitors
What does it mean to set a "time-bound" goal?
Goals are set to be achieved by a certain time to aid in measurability
Expanding Market Reach can involve 3 kinds of expansion. Name them
Geographic Expansion
Demographic Expansion
Diversification Expansion
Regular sessions to keep team members up to date on procedures
Staff Training
Rewards Programs and Follow-ups are two strategies for...?
Customer Loyalty
Why does feedback matter?
Identifies strengths and areas of improvement
shows customers they are important
builds loyalty