Marketing
Mix Up
Mix Up
Product, Price, Place, and Promotion work together to form this basic strategy businesses use to successfully market a product or service.
What is the Marketing Mix (or the 4 Ps of Marketing)?
What marketing function includes budgeting for all marketing activities and assisting customers in paying for a company’s product?
Financing
A company uses social media, advertisements, special events, and other messages to inform customers about its productions and create interest.
What is Promotion?
A marketing function that divides a broad market into smaller groups
What is Market Segmentation
When a toy company uses gaming, online videos, and interactive digital content to market a new product to young consumers born after 2013.
What is Generation Alpha?
Many movie theatres charge a lower admission earlier in the day to encourage more people to come at that time. What element of marketing is the focus of this strategy?
Price
What function tries to make the product available when and where customers want it?
Distribution
A company considers its costs, competitors, customer demand, and desired profit when deciding how much customers will pay for a product.
What is Pricing?
When dividing a market is focused around the customers' values, interests, and lifestyles.
What is Psychographic Segmentation
A generation generally defined as people born between **1946 and 1964**.
What element of the Marketing Mix deals with transportation?
Place
What marketing function is responsible for a products enhancements and life cycle?
Product/Service Management
This employee listens to a customer's needs, explains how a product could help, answers questions, and helps the customer make a purchase decision.
What is Selling?
A customer's age, gender and income level is an example of this segmentation factor.
What is a Demographic Segmentation
A generation typically characterized as digital natives who have grown up entirely with smartphones and social media.
What is Generation Z
What element of the marketing mix deals with advertising, sales, and public relations?
Promotion
What marketing function gathers and analyzes information that helps marketers predict and determine which products will be successful in the marketplace?
Marketing Information Management
A specific group of consumers a business works to reach?
What is a Target Market
A market segmentation that groups sports drink customers based on their exercise habits and frequency.
What is Behavioral Segmentation
An eco-friendly company emphasizes sustainability and social responsibility when marketing to Millennials, but focuses on value, reliability, and practical benefits when marketing to this generation.
What is Generation X
What element of the Marketing Mix deals with packaging?
Product
List the Seven Marketing Functions
MIM, Product/Service Management, Pricing, Distribution, Financing, Selling, Promotion
What is when a company uses its product, price, promotion, and customer interactions consistently to create a recognizable image and reputation in the minds of customers.
What is a Brand or Building a Brand
A national restaurant chain offers spicy regional dishes in some parts of the country while changing its menu to match customer preferences in other areas.
What is Geographic Segmentation?
Marketers often highlight sustainability, social responsibility, experiences, and a strong digital presence when targeting this generation of consumers.
What is Millennials?