Definitions
a study undertaken by an organization to identify its internal strengths and weaknesses, as well as its external opportunities and threats.
SWOT Analysis
What are the 4 P's of marketing?
Price, Product, Place, Promotion
Strengths, weaknesses, opportunities, threats
What are the two types of buying motives?
Rational & Emotional
What is the name of the highway that runs through Boonton?
Rt. 287
the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
Marketing
The P that indicates where and when you will sell your product/service.
Place
A(n)_______ of McDonald's is its many convenient locations across the world.
Strengths
Name one potential method to conduct market research.
Survey, observation, focus group, etc.
What college's mascot is the Nittany Lion?
Penn State
A specific group of people or organizations that a business aims to reach with its products, services, or marketing efforts.
Target Market
The P that represents the means in which you will tell people about your product/service
Promotion.
A(n)___________ of McDonald's is their reputation serving only unhealthy foods.
Weakness
Our surveys were an example of _______________ in action!
Market Research
Name one movie that Leonardo Dicaprio stars in.
Many answers! EX: Titanic, Shutter Island, Wolf of Wall Street, etc.
Finding solutions to problems through carefully designed studies involving consumers
Market Research
The P that highlights the idea that buyers want to pay as little money as possible and sellers want to make as much money as possible.
Price
A(n) _______ of McDonald's is the rise of many other fast food restaurants with "healthier" menus.
Threat
Name one step of market research
Define the marketing problem.
Study the situation.
Develop a data collection procedure.
Gather and analyze information.
Propose a solution.
What Disney princess sings the songs "Colors of the Wind" and "Just Around the Riverbend"?
Pocahontas
The process of creating, designing, and bringing a new product to market.
Product Development
The P that draws data from market research to create a new item or improve an existing one.
Product
A(n) ___________ for McDonald's is to expand their menu to attract new customers.
Opportunity
Name one step of the consumer decision making process.
Recognize a need.
Gather information.
Select and evaluate alternatives.
Make a purchase decision.
Determine the effectiveness of the decision.
What are the four houses in Harry Potter?
Gryffindor, Slytherin, Ravenclaw, Hufflepuff