Marketing
Marketing is NOT ________________ consumer to get them to buy products or services that they do not want.
manipulating
Geographic segmentation is often based on the __________ and/or __________.
climate/weather, location
_______________ ______________is a systematic, objective process of getting information about potential customers to guide marketing decisions.
Marketing research
Specialty products (designer brands, art, concerts) require great search and effort to find and consumers are not willing to accept a _____________.
substitute
Price skimming is charging the highest possible price that buyers who want the product will pay. You would ONLY do this and succeed with ___________ items.
luxury
Products or services are usually marketed to ____________________(3 words) or give some enjoyment.
Solve a Problem
_________________ segmentation is based on age, gender, race, ethnicity, education, social class, etc.
Demographic
The 4 P's of marketing are:
product, price, place, promotion
___________ is the process of naming and identifying products.
Branding
Great Value gets placed next to similar, branded items that are more expensive. This is a ____________ pricing strategy.
The ____________ is the act of giving up one thing in return for something else. Both items must have __________.
exchange; value
Psychological segmentation is based on characteristics and lifestyles of consumers. Give 3 beverage examples.
energy drinks:
gatorade/powerade:
coffee:
water:
protein shakes / meal replacements:
In marketing research, what are the two types of data? What is the difference?
primary & secondary; primary comes directly from the respondents
A product _____ is a group of closely related products that are treated as a unit because of a similar marketing strategy. What is an example for Pepsi?
Line; Pepsi, dt pepsi, mtn dew, dt dew, dr pepper, dt dr pepper, gatorade, Sierra mist, Aquafina
Price Discounting are temporary price reductions What are 2 examples of why you would reduce prices and what is the purpose?
discounts, flawed items, failure items, entry items, or going out of season items; boost sales
_________ is a customer’s subjective assessment of benefits relative to costs in determining the worth of a product. The equation is customer _______________ -customer _____________ = customer __________.
value; benefits, cost, value
________________ segmentation divides the market based on consumer behavior and desires. What are 5 things that would be marketed to people who prioritize their health?
Behavioristic; fitness centers, workout plans, health foods, diets, low calorie/fat/carb foods, water, running/lifting shoes or clothing
Business products are used directly or indirectly in the operation or manufacturing processes of businesses. These include things like ___________, ____________, and ______________.
equipment, materials, parts, supplies
Branding includes a ________ or _________. Many times, branding is located on the ______________, or external container.
name, symbol, design, label; packaging
__________ is a paid form of non-personal communication transmitted through a mass medium, such as TV commercials. A series is called a ___________.
Advertising; campaign
A _______________ ______________ is a plan of action for developing, pricing, distributing, and promoting products that meet the needs of specific customers. The market they focus their efforts on is the __________ ____________
The four types of market segmentation are:
Demographic, geographic, psychological, behavioristic
_____________ products are for household or family use. They include _____________ products, ______________ products, and ____________ products.
consumer; convenience, shopping, specialty
The product life cycle includes these 4 steps that are relative to # of sales and time on a graph.
intro, growth, maturity, decline
Two problems with digital marketing/media & E-Business are _______ ________ & ________ ________. Who commits these crimes?
online fraud; identity theft; cybercriminals