What is marketing?
The process of planning, pricing, promoting, selling, and distributing ideas, goods, or services to create exchanges that satisfy customers.
What is Marketing?
The 4 Elements of the 4 Ps
What is: Price, Product, Promotion, Place?
Includes the development, design and improvement of products or services.
What is product management?
What is a specific group of customers a company focuses its marketing efforts on?
What is a Target Market?
The 4 Components of a SWOT Analysis
What are strengths, weaknesses, opportunities, and threats?
3 Marketing Activities
What are: Public Relation, Sales Promotion, Advertising, Social Media, Pricing, Distribution?
Billboards, commercials, and social media posts are all part of which P? This is how you tell people about your product.
What is promotion?
This function uses various communication channels to inform, persuade, and remind customers about your product
What is promotion?
A clothing company might offer winter jackets specifically for customers in colder climates. What segmentation strategy is used?
What is Geographic Segmentation?
This element of a SWOT analysis identifies your company's internal advantages and positive attributes.
What are Strengths?
The cumulative function of marketing
What is to create / communicate / Deliver Value to the customer?
This P can be when a sports drink spends extra money to ensure their product is on the middle shelf in an aisle of a grocery store.
What is place?
This function involves the decision on weather to use Wholesalers, retailers, or e-commerce platforms.
What is disribution?
This strategy divides the market based on personality traits, interests, values, and lifestyles.
What is Psychographic Segmentation?
External Factors
What are Opportunities & Threats?
The king in marketing
Who are customers?
This element focuses on the tangible good or service a company offers, including its features, design, and quality.
What is product?
From digital assets and market research, businesses use this element to keep track of marketing activities and trends.
What is marketing information management?
This strategy divides the market based on customer behavior, such as purchasing habits, usage patterns, and brand loyalty.
What is Behavioral Segmentation?
Limited marketing budget, outdated technology, or high employee turnover are all examples of what in a SWOT analysis?
What are Weaknesses?
The most important customers in marketing
Who are repeat customers?
This P encompasses discounts, credit terms, and financing options.
What is price?
Pricing Strategy in which a company sets a low price to enter a competitive market and raise it later.
What is price skimming?
This strategy divides the market based on characteristics like age, income, gender, and education level.
What is Demographic Segmentation?
Emerging market trends, new technologies, or changes in competitor strategies can all be considered what in a SWOT analysis?
What are Opportunities?