Marketing Plan
The BHS School store had a good Marketing plan last year? True or False?
What is False
True or False? Marketing is a set of activities related to creating, communicating, delivering, and exchanging offerings that have value for others
What is True
Who is involved in the Exchange Process?
What is a buyer and a seller.
True or False? Business is any activity that provides goods or services to consumers for the purpose of making a profit.
What is True
What is a company profile?
What is What is Basic information about the organization, its offerings, and competitive set
What is branding?
Branding is the process of “creating a unique name and image for a product in the consumer’s mind”
Marketing builds brands, and branding is an important strategic consideration in marketing, but marketing is broader than branding
Describe a low-involvement decision?
What is
What is
Straightforward
Require little risk
Are repetitive and often lead to a habit
Not very important to the consumer
What is profit?
is the amount of revenue or income that a business owner retains after paying all the expenses associated with the operation of the business.
What is a SWOT Analysis?
What is to find out a companies Strengths, Weaknesses, Opportunities, and Threats.
What is the Sales Concept in regards to the company orientation?
What is Success depends on a good sales team with the right tools and incentives.
What are some things included in Demographics?
What is Age, Race, Religion, Ethnicity, How much money you make... etc.
What are the Factors of Production?
What is Natural Resources, Labor, Capital, and Entrepreneurship.
What is a Executive Summary?
What is Summary of key points from the marketing plan and what it will accomplish
What is Customer Lifetime Value?
What is predicts how much profit the company will make from the customer during his or her lifetime relationship with the company
What is the difference between a B2B and B2C marketing decision?
What is B2B is a business to business decision while a B2C is a business to consumer decision.
What are some examples of internal stakeholders?
What is Employees, Managers, and Owners.
What is a target market?
What is a particular group of consumers at which a product or service is aimed.
What are the three roles of marketing?
What is to identify customers, satisfy customers, and retain customers.
What is a reference group? and what can they influence?
Reference groups are formal or informal groups with opinion leaders
Can influence an individual in several ways:
Role expectations
Conformity
Group communications through opinion leaders
Word of mouth influence
What are two external forces that affect a company?
What is Economic, Legal, Competitive, Global, Social, and Technological Environments.