Marketing Mix
Often referred to as marketing communications, this part of the mix informs consumers about the product and encourages purchases.
What is Promotion?
A marketing tool that utilizes the four p's; product, price, promotion, and place.
What is a Marketing Mix?
The uncontrollable elements outside an organization that may affect its performance either positively or negatively.
What is External environment?
The overall ability of a product to satisfy customers expectations.
What is Product quality?
The process of dividing a larger market into smaller pieces based on one or more meaningful shared characteristics.
What is Segmentation?
The marketing mix is made up of 4 elements named the 4p's. Name them..
What is Product, Promotion, Place, and Price?
This strategy is to emphasize both new products and new markets to achieve growth.
What is Diversification?
In the SWOT analysis, the "OT" stand for.
What is Opportunities and Threats?
This explains how a product goes through 4 distinct stages from birth to death: Introduction, growth, maturity, and decline.
What is the Product Life Cycle?
The group of consumers born after the year of 1994.
What is Generation Z?
The process by which some transfer value occurs between buyer and a seller.
What is an exchange?
The measure of observable aspects of a population including, size, age, gender, ethnic group, income, education, occupation, and family structure.
What are Demographics?
A formal statement in an organizations strategic plan that describes the overall purpose of the organization and what it intends to achieve in terms of its customers, products, and resources.
What is a Mission Statement?
The LEGAL term for a brand name, brand mark or trade character.
What is a Trademark?
A straight, urban male who is keenly interested in fashion, home design, gourmet cooking, and personal care.
What is a Metro-sexual?
This "P" relates to the supply chain, it refers to the availability of a product to a customer at the desired time and location.
What is Place?
A form of distribution that consists of, at a minimum, a producer and a customer.
What is a Direct Channel?
The group of different products or brands owned by an organization and characterized by different income-generating and growth capabilities.
What is a Business Portfolio?
An individual who is responsible for developing and implementing the marketing plan for a single brand.
What is a Brand Manager?
An approach in which marketers tailor their offerings to specific areas because people's preferences often vary depending on where they live.
What is Geographic Segmentation?
The outcome sought by a consumer/customer that motivates buying behavior that satisfies a need or want.
What is Benefit?
Special programs that marketers form to build interest and encourage purchases of goods or services during a specific period.
What is a sales promotion?
Growth strategies that focus on selling new products in existing markets.
What is Product Development Strategies?
An individual who is responsible for developing and implementing the marketing plans for products sold to a particular customer group.
What is a Marketing Manager?
The use of psychological, sociological, and anthropological factors to construct market segments.
What is Psychographics?