Marketing Basics
What are the 4 P's?
Product, Pricing, Place, and Promotion
What is color psychology?
How colors can affect human behaviors.
What is a demographic?
to group people together that have similar characteristics like age, gender, income, job, and level of education.
What is a brand? Give an example of one.
Name, symbol, or design that is used to identify the product and establish a unique identity for the company.
Example of Brand: Ruffles, Coca-Cola, etc.
What is a Logo?
Images, texts, shapes, or a combo of the three that depict the name and purpose of the brand.
What is another phrase for the 4 P's of Marketing?
Marketing Mix
What do primary colors tell about a company?
They are cheap, affordable, and fun.
How does Marketing Segmentation help companies?
Allows for companies to learn about their customers.
What are commercials trying to sell? and give an example of how.
Example: How the food will make them feel.
What is one reason why logos are important to a brand?
- Makes a great first impression, which invites customers to interact with your brand
- Helps you to create a brand identity
- Gives your company a symbol through which people can better remember you
- Distinguishes you from competitors
- Fosters brand loyalty
Promotion
What are the downsides to using the color green in your brand?
Can show feelings of boredom, envy, blandness, etc.
What is marketing segmentation?
The act of dividing a group of people with enough in common with their wants and needs.
What do you need to research in the research phase of branding?
Get to know your business, industry, competitors, target audience, etc.
What is the core communicator in any brand?
Color
What decisions need to be made when pricing a product?
Wholesale, retail, and discount prices.
Why is black not used in branding for hospitals? Why do luxury brands use black?
1. Can be perceived as mourning or death, not something you want to see at a hospital.
2. Luxury brands use black to look sleek, refined, and elegant.
What is one step to writing a mission statement?
- Explain your company’s product or service offering.
- Identify the company’s core values.
- Connect how your company’s offering aligns with your values.
- Condense these statements into one.
- Refine your mission statement.
What is one thing that can make a logo stand out?
- It should be audience-appropriate.
- It should be easy to read.
- It should be distinct.
- It should be scalable.
What is the definition of Marketing?
There isn't a clear definition.
What percent of consumers make purchases based on visuals?
93%
What demographic of people would drive fancy cars, eat at really nice restaurants, and buy designer clothes?
Rich people, young people, couples, etc.
What were the name's of the 3 segments of Persephone's Pearls?
Olympians Banquet, Persephone's Pearls, and Hades's Underworld.
What are company communication? Is it one of the uses of a Logo?
Yes. They connect your company culture with the brand representing it.