Four P's of Marketing
This pillar encompasses the way a product is communicated and sold
What is promotion?
MVP. No, not the most valuable player, but the most basic product a company offers to drum up interest before complicating it
What is minimum viable product?
It's what we're doing to this entire question It's what we're doing to this entire question It's what we're doing to this entire question
What is repetition?
The pricing strategy that sees you think about how a consumer would price your goods
What is value-based pricing?
It's usually the first thing you see from a company, including letters, shapes, and other key icons
What are logos?
It's how much is charged to a product, usually denoted with a currency sign
SWOT. A 2x2 grid that helps you evaluate how your business glows and should grow internally and externally
What are Strengths, Weaknesses, Opportunities, and Threats?
Ads that encompass a well-known person or fictional character, A-lists are key examples
What is celebrity endorsement?
Synonymous for what connects computers, it's what connects consumers by building relationships and establishing a good team
What are networks?
What is narration?
A typical product has more than just its main features: it has a core, actual, and this level of product
What is augmented product?
UX. How a consumer feels or interacts with a product or service, including all their thoughts, reviews, and emotions.
What is User eXperience?
That small earworm at the end of most ads to reinforce brand recognition, like "The snack that smiles back!"
Your business cannot keep all of its customers, hence why it must analyze remaining customers with this three-word phrase for CRR
What is customer retention rate?
It's like a seminar, but you can attend one of these right from your home as long as you have a computer
What is a webinar?
It's the part of the promotional mix comprising of direct, face-to-face marketing
What is personal selling?
B2C. A business model in which you market a product directly to the public
What is Business 2 Consumer?
PepsiCo. and Coca-Cola are notorious for this ad strategy, constantly roasting each other by using their rivals' media depicted badly
What are put-downs?
What are tiered loyalty programs?
Walking down the street, you see numerous of these ads that are just static images
What are print ads?
Disney is a key example of this pricing strategy, initially setting Disney+ at a low price then increasing it as demand increases
What is penetration pricing?
CAC. How much a business spends on marketing and sales per new customer
What is Customer Acquisition Cost?
Fast food chains often make burgers look juicer; a common example of this strategy
What is puffing up?
It's how you analyze which customers are loyal to a brand over time, with a three-word acronym "CLI"
What is customer loyalty index?
You've got one minute to successfully persuade a consumer with this pitch whose name includes a synonym for LIFT
What are elevator pitches?