Market vs. Marketing
Buyers and sellers come into contact, either face-to-face or online, to engage in competition and trade goods or services.
What is a market?
Advertising would fall under which of the four P's?
What is Promotion?
When a customer purchases products from one brand over another
What is Brand loyalty?
Utilizes platforms like Facebook and YouTube, where marketing messages can quickly reach millions of users and spread rapidly through social networks.
What is social media marketing?
Is the firm's goods or services they are selling. This includes not only physical unit, also package, warranty, and brand company image.
What is Product?
People that a business want to sell to
What is Target audience?
The process of identifying customer requirements, anticipating future needs, and responding with products or services to make a profit.
What is marketing?
McDonalds conducts extensive research to determine the most effective way to transport their products. This is which component of the marketing mix?
What is Place?
The amount of money paid by customers to purchase the product
What is Price?
Marketing targets specific segments of the market with similar characteristics, such as age group or hobbies, rather than trying to appeal to the entire market at once.
What is niche marketing?
In which of the 4 P's do you consider the life cycle?
What is Product?
The activities that communicate the product’s features and benefits and persuade customers to purchase the product.
What is Promotion?
BONUS QUESTION: Refers to trading on the Internet, where purchases and sales are increasingly taking place, such as through online stores and platforms.
What is e-commerce?
BONUS QUESTION: When a company finds a certain group of people they want to market and sell their product towards, this marketing concept is called _______.
What is Target Market?
BONUS QUESTION: Many movie theatres charge a lower admission between 4:00 pm and 6:00 pm to encourage more people to come at that time. What element of marketing is the focus of this strategy?
What is Price?