Market Research
This is a group of customers that will buy your product or service
What is a Target Market?
Weaknesses
Name the two types of sales channels
Physical and digital
What are the 4 P's of the marketing plan?
Product, Price, Place, Promotion
What is the formula:[(Customers @ end of period - new customers) / Customers @ beginning of period] x 100
Determine a company's customer retention rate?
The market segment that shows how a customer views the world.
What is psychographic?
What are the two external elements of the SWOT analysis?
Opportunities and Threats
A Wholesale store is which type of sales channel?
Physical sales
Which marketing method has the higher success rate of bringing in new customers? mail or email?
What is the following formula: Marketing Expenses + Sales Expenses / # new customers
Customer Acquisition Costs (CAC)
What type of data are internet articles and company newsletters
What is secondary data?
Other businesses that sell products that are different from a business but are similar enough that their products could satisfy the same need are...
indirect competitors
Which stage of the sales process includes developing a presentation for customers?
What is Preparation?
Which element of a marketing plan outlines how products or services will be sold and delivered to customers?
Delivery Plan
Which is more cost-effective - to keep current customers or to acquire new customers?
What is keep current customers? (customer retention costs)
States why a customer should do business with a company
Value Proposition
A business that sells the same or similar products or services.
Direct competitors
What (summary) provides an overview of the marketing plan?
Executive Summary
Which market segment shares a customer's location?
Geographical
Which market segment anticipates a customer's needs?
Behavioral
A focus group was formed to provide opinions for a target market. What type of data is being collected from the focus group.
Primary data
What are the two internal elements of the SWOT Analysis
Strength and Weakness
Selling goods from one business to another is known as
B2B - Business to Business
Which market segment shares a customer's age, gender and ethnicity?
Demographic
Liberty High School changed our logo last year because we were using the LA Chargers logo. This was an intellectual property violation because the LA Chargers logo is _______.
trademarked