4P's and Utilities
What are the 4P's?
Place Product Price Promotion
Star, Cash Cow, Dog, Question Mark
A brand that is very plain with no advertising or marketing efforts.
Generic Brand
The highest tier of Maslow's hierarchy of needs.
Self Actualization
What are the 4 phases of the business cycle?
Introduction, growth, maturity, decline
This "P" is responsible for any advertisements.
Promotion
What would Coca-Cola be considered on the BCG Matrix?
Cash Cow
What is the difference between Mass Marketing and Niche Marketing?
Mass is general; Niche is specific
The base of Maslows Heirarchy of Needs
Psychological Needs
The percentage or portion of the market that is controlled by a company.
Market Share
The utility where the physical state of a finished product can provide value to customers
Form Utility
What are the two measures in the BCG Matrix?
Market Share, Market Growth
Things like colors, design, and logo are all a part of what?
Brand Identity
To achieve the next level in the pyramid, maslow says you must do what?
Acheive the current tier.
This opposite of price skimming, this pricing strategy offers products at a low price to start to attract customers.
Penetration Pricing
The idea that a product is accessible to customers whenever they need them.
Time Utility
What two elements on the BCG Matrix have high market share?
Star and Cash Cow
An image that a company creates for themselves through marketing efforts that customers react and connect to is called what?
Brand Positioning
What is one of the 7 core functions of marketing?
The seven core functions of marketing are: promotion, selling, product management, pricing, marketing information management, financing, and distribution.
The total number of items in all product lines.
Length
Which utility is the exchange of products for money?
Posession Utility
What does BCG stand For?
Boston Consulting Group
This is the long term plan for the creation, development, delivery, and operations of the brand.
Brand Strategy
If you don't have "Love and Belonging" according to Maslow you can not achieve what two tiers?
Esteem and Self-Actualization
Which utility is the idea that the best way to sell a product to a consumer is to show them how the product could provide value to their life.
Marketing Utility