Marketing Basics
The basic marketing concepts, states that in order to make a profit you must first start by satisfying the ________ .
Customer
The first step of creating a marketing plan?
Market Research
______ is the process of planning, organizing and controlling.
Management
____ is a combination of different types of promotions
Promotional Mix
Dividing the total number of people in the market into smaller groups of individuals who share the same need is __________.
Price, place, product, promotion
What does SWOT stand for?
Strengths, Weaknesses, Opportunities, Threats
_______ buys their good directly from manufactures and sell them to ________.
Wholesalers, Retailers
______ promotes a positive image and creates Publicity (ex. charities)
Public Relations
_______ means to use a single marketing plan to reach ALL customers.
Mass Marketing
Name the 5 utilities.
______ are where you will publish the items to inform to educate the buyers, generates leads and spreads awareness of your brand.
Marketing Channels
Name the 3 types of business ownership and list an disadvantage of each.
Answers will vary
News papers, Radio and TV commericals, Billboards, and ads are all types of _________ promotion.
Advertising
Name 3 ways to satisfy a customer
treat customers like royalty, have reasonable products, make valuable products, ask them what they want
Difference between Consumer vs Customer
A Consumer is someone who uses the good/service. A Customer is someone who buys the product
Name some competitors of: Nike, McDonalds, Apple
Answer May Vary
_______ protects your products from being copied. Name the 3.
Intellectual Property, Trademark, Patent, Copyright
Name the 5 types of promotion. Give a quick definition of each.
Sales promotion, direct selling, public relations , face to face, advertising
Name the 3 ways markets are segmented. And explain each
Geographic, Demographics, Psychographics,
Sales Oriented vs Marketing Oriented?
Marketing oriented focuses on making products based on customer satisfaction
Name the 6 steps of creating a marketing plan
Marketing Research, Business Summary, Target Market, Competitive Analysis, Budget, Marketing Channels/Strategies
Name the 5 Types of Businesses
Small vs large, Domestic vs global, Non-profit vs profit, Public vs private, Wholesalers vs retailers
____ promotion is used to create a favorable image while _____ promotion is used to convince potential customers to buy product from them instead of their competitive.
Institutional, product
Who is the primary target market for a Walmart shopper vs. Wholes Food shopper?
Answer will vary