4P's Basic
What are the 4Ps of the marketing mix?
Product, Price, Place, Promotion.
Define Target Marketing?
A group of potential customers who share common needs & wants
The end goal is about creating marketing that appeals to your target customer that will result in them making a purchase.
What is market segmentation?
Dividing the market into groups of people with similar needs or characteristics
Which P often includes loyalty programs?
Promotion
This is the good or service being sold
What is "Product"
Which P focuses on how much customers pay?
Price.
Key difference between McDonald’s and Starbucks coffee customers?
McDonald’s: price/convenience; Starbucks: brand/image/experience.
Name the four basic segmentations
What is "Behavioral, Demographic, Psychographic and Geographic"
Who is the consumer if a grandmother buys toys for her grandchild?
The grandchild
A ad is an example of this
What is "promotion"
Deciding to sell through Amazon or in-store retail falls under which P?
Place (distribution).
What is the difference between a Mass Market and a Target Market?
Mass marketing aims to reach the largest possible audience with a single, broad message, while target marketing focuses on specific, well-defined segments of consumers.
Which type of segment does this represent? Women aged 25 with a college education in the middle class.
Demographic
Lululemon leggings (lifestyle) appeal to what kind of segmentation?
Psychographic (fitness/lifestyle/self-expression).
True or False: Market Segmentation helps increase profits and make money
What is "True"
Offering warranties and product variations falls under which P?
Product.
Which two qualities must the true target market have?
Desire and ability (means) to buy.
Segmenting by purchase history or buying frequency is which type?
What is behavorial
Value meals aimed at college students target which two segments?
Price-sensitive young adults (Demographic/Behavioral).
Give one real example of two Ps working together in a brand strategy.
Example: Nike uses premium pricing (Price) and athlete sponsorships (Promotion).
Why is “everyone” a poor target market?
It’s too broad—wastes resources and weakens message effectiveness.
Segmenting by hobbies, values, and lifestyle is which type?
What is psychographics?
Create a customer profile for Airpods using 3 types of segmentation.
Demographic ___
Psychographic ___
Behavioral __
Geographic ___