Please Pick Purple Poinsettas
Bring in the Big Business
Slice up the Pie
100
Product, Price, Place (Distribution), Promotion
What is The 4 P's of Marketing?
100
Tools that make life simpler for marketers to market. They automate difficult, time-consuming and repetitive manual tasks to surface customer insight. Built by technologists, used by marketers.
What is marketing technology?
100
Identification and grouping of portions of markets that have particular characteristics. This allows companies to better identify and meet needs and wants of potential customers.
What is market segmentation?
200
Find a balance between cost and affordability. How much does it cost to produce? How much can consumers afford to pay?
What is price?
200
Practices, strategies and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle, with the goal of improving business relationships with customers, assisting in customer retention and driving sales growth.
What is customer relation management (CRM)?
200
Geographic, Demographic, Psychographic
What are the 3 major categories of Market Segmentation?
300
Item designed and produced to fulfill the needs and wants of consumers. ex. house-cleaning, food, entertainment, gasoline
What is product?
300
A mechanism for designing and developing products to make them stand out or be memorable. This helps potential customers identify manufacturers or products that they like or don't like.
What is branding?
300
Examples: Region - Chicago style pizza Population - Taxis in cities Climate - Surf shops in CA Address - Nearby restaurants
What is geographic segmentation?
400
Any techniques to sell a product. ex. infomercial, advertising, packages.
What is promotion?
400
The process of comparing two variations of a single variable to determine which performs best in order to help improve marketing efforts
What is A/B Testing?
400
Examples: Age - older, younger Gender - clothing, cosmetics Occupation - business magazines Income - expensive cars
What is demographic segmentation?
500
Getting the product to the consumer. ex. market coverage, inventory management, transportation, order processing, etc.
What is place (distribution)?
500
Creating interest and new opportunities in a company's products and/or services.
What is demand generation?
500
Examples: Hobbies - Michaels targets you if you paint Interest - Gardening Values - Shelters, non-profit organizations Likes - Pandora, Facebook (gives song/website suggestions)
What is psychographic segmentation?
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