Marketing Basics
These are the people you are trying to reach with your marketing efforts
Target Market
Sell a bunch of products together and reduce the cost per unit
Bundle Pricing
Social media platform known for it's quick videos and controversial public perception.
A rough draft of a product
Prototype
An agent would usually do this type of promotion
Personal selling
Jimmy Carter
Of all people in an area needing cell phone service, 35% of them go with Verizon. These folks are part of Verizon's...
Market Share
Black Friday pricing strategy, where you put a few things on sale to draw interest and then keep the other items at regular price.
Loss Leader pricing
Social media network known for it's quick chat feature
Snapchat
The stage in the product life cycle where sales are increasing week over week.
Growth
The way a company is viewed by the public, positively or negatively
Publicity or Public Relations
This murder suspect, accused of shooting United Healthcare CEO, was arrested after being identified in a McDonalds in Altoona.
Luigi Mangione
In order to be in a market, people need a ____ and ability to purchase a product or service.
An Iphone has five different models, each with it's own price to reflect the quality and power of the product model. This is an example of...
Price Lining
Popular social media network among older folks
Maturity
The value a brand has beyond its functional benefits
Brand Equity
Reels
One's gender, race, ethnicity, age, occupation industry, income level, and educational level are called...
Demographics
A Nike shirt costs $30. A similar TekGear shirt costs $11. The difference? The Nike shirt has a tiny swoosh on it. What pricing is this?
Prestige pricing
Social media network bought by Elon Musk to disseminate news and trends
X/Twitter
Fad
Email and mail marketing to reach targeted consumers
Direct marketing
Taylor Swift's tour title
Eras
Whether it's the place a product is sold or the level of information available about it, these extra benefits of a product are referred to as...
Utility
Flights are most expensive on Saturday and Monday mornings. They are least expensive on Wednesday evenings. What is this strategy
Yield-management pricing
Social media network used for professionals to connect with one another, also good for B2B marketing.
The *thing* about a product or service that makes it unique from everything else available in the marketplace
Point of Difference
Ads and sales used to encourage quick purchases by customers
Push Strategy
Who is performing at the 2025 Superbowl halftime show?
What is often referred to the fifth "P" of marketing?
People
Offering a no-cost version of an online product, while consistently enticing the customer to purchase optional but cool add-on products or privileges.
Freemium
On which social media platform are/were you asked to rank your Top 8 friends?
MySpace
Phase of the product development process where we figure out if people will like and buy our product. You might see officer meetings, surveys, or focus groups in this phase.
Screening (or Evaluation) phase
In the movie "Men in Black," the main characters all wore Rayban sunglasses. This is an example of...
Product Placement
This music sharing site, popular in the late 1990's, transformed the music industry in changing from physical media to digital media. It also raised questions about the ethics of illegal downloads.
Napster