Market Segmentation
True or false? Segmentation Marketing is advertising to segments where a company feels it can do well over time?
True
This metric is described as the percentage of a market that buys its producst from a certain brand
What is market Share
This factor has internal origins and is helpful to a company achieving its mission
What is a Strength
This is considered specific goals for promoting products and services
What is objectives
This is the process or technique of promoting, selling, and distributing a product or service.
What is Marketing
Information concerning how people normally engage with products guides this kind of segmentation
What is behavioral Segmentation
This method of data collection is the prime way to understand customers' feeling about another company
What is customer reviews
This factor concerns itself with structures and regulations where business will engage
What is Political
This is the process exemplified by unique features, better quality and different pricing strategies
What is Differentiation
This type of persuasion is used when trying to appeal to a customer's sense of emotion
What is Pathos
This kind of segmentation considers factors such as income level, ethnic background and marital status
What is demographic
This process is defined as evaluating your competitors to better understand the market
What is Competitor analysis
These four words make up the SWOT analysis. Name and define each of the four words
Strength- Internal helpful factor
Weakness- Internal harmful factor
Opportunity- External factor a company could take advantage of
Threat- External harmul factor a company should be sure to solve or avoid
This section of the Marketing Plan involves measuring the success of marketing effores
What is Evaluation and Control
This process of segmentation divides markets based on customer usage rates
What is behavioral segmentation
The kind of income do we spend on necessities?
What is disposable Income
This helps companies convince customers to buy a product
What is Unique Selling Points
Electric vehicles being exempt from emissions tax would be concerned with which PEST Factor?
What is Political?
This section of the Marketing Plan should include information regarding how a new offering is aligned with the mission of a company
What is the Executive Summary
If the CEO of Lysol said "We want to control 60% of cleaning wipes in the next 5 years", their objective concerns which topic?
What is Market Share
The rule that suggests a small number of inputs is responsible for most outputs? And what is the percentage breakdown?
What is The Pareto Principle. 80%-20%
There are 3 reasons competitive analysis is important. Name at least one
It identifies market trends and opportunities.
Helps you differentiate your product or service.
Informs your marketing and sales strategies
Name and define each of the factors considered in the PEST analysis
Political- Governmental Rules and Regulations
Economic- The state of the country's economy
Socio-cultural- Changes in public opinion and popular thought
Technological- Innovations in tools that give a competitive advantage to a company
What are all of the sections of the Marketing Plan?
Executive Summary
Situation Analysis
Objectives
Market Strategies
Implementation
Evaluation and Control
Budget, Forecasting and Profit
These are the levels of Geographic Segmentation we discussed in class
What is local, regional, national and global