Marketing Foundations
Creating, communicating, delivering, and exchanging value with customers.
What is marketing?
What is a product?
Problem Recognition
What is the 1st step in the consumer buying process?
Communication to inform, persuade, or remind customers
What is promotion?
Using online platforms to reach and engage customers.
What is Digital Marketing?
A group of people with needs, purchasing power, and willingness to buy.
What is a market?
A name, symbol, or design that identifies a product.
What is a brand?
Doubts after a purchase
What is cognitive dissonance?
What are types of promotion?
Social networks, blogs/communities, video sharing, podcasting, mobile marketing.
What is digital media?
The Marketing Mix
What are the 4P's?
The value added by the brand name.
What is Brand Equity?
Time, mood, surroundings, purchase reason, social environment
What are situational influences for buying behavior?
Creating a fully integrated and seamless retail experience across customer touch points such as physical stores, desktop websites, and mobile devices.
What is Omni-channel marketing?
Moving products from producer to consumer
What is disitribution?
The specific group of customers a firm aims to reach.
What is a target market?
Protection, convenience, promotion, tamper prevention, information
What are the functions of packaging?
A small group interview guided by a moderator
What is a focus group?
Paid, non-personal communication about an organization and its products transmitted to a target audience through mass media
What is advertising?
Economic conditions, Competitive Structure, Government Regulations (Hint: related to pricing)
What are restrictions placed on pricing?
A plan that identifies a target market and develops a marketing mix to satisfy them.
What is a marketing strategy?
The stages a product moves through: introduction, growth, maturity, and decline.
What is a product life cycle?
Dividing the market into groups with similar characteristics.
What is segmentation?
Facebook and Instagram
What social media sites are most popular for advertising?
Privacy concerns, online fraud, intellectual property issues.
What are challenges of digital marketing?