Strategic Foundations
This tool analyzes internal strengths & weaknesses and external opportunities & threats.
What is SWOT analysis?
This type of marketing targets everyone with one offer.
What is undifferentiated marketing?
This is the first step in the consumer decision-making process.
What is need recognition?
The 4Ps of marketing are product, price, promotion, and ____.
Place
This measures the value of a customer over their entire relationship.
What is Customer Lifetime Value (CLV)?
This is the central idea that guides all marketing strategy by focusing on customer satisfaction.
What is the marketing concept?
This targeting strategy focuses on a single, small market niche.
What is concentrated marketing?
The decision-making unit in B2B purchases.
What is the buying center?
A pricing strategy where a product enters with a low price.
What is penetration pricing?
This metric shows how well a marketing investment performs.
What is Return on Marketing Investment (ROMI)?
Porter’s Five Forces includes this force that deals with how hard it is for others to enter your market.
What is the threat of new entrants?
For segmentation to be actionable, segments must be this.
What is measurable, accessible, substantial, differentiable, and actionable?
These 4 factors influence buyer behavior.
What are psychological, social, cultural, and situational factors?
IMC stands for this.
What is Integrated Marketing Communications?
This performance framework includes customer, internal process, and learning goals.
What is the Balanced Scorecard?
This is a competitive benefit that is valuable, rare, and difficult to imitate.
What is a competitive advantage?
This process involves designing an image and offering in the customer’s mind.
What is positioning?
Derived demand is more typical of this type of buying.
What is business (B2B) buying?
This life cycle stage involves high competition and slowing growth.
What is maturity?
This metric shows what percentage of the total market your company controls.
What is market share?
This visual tool maps out brand perceptions among competitors.
What is a perceptual map?
This strategy changes how customers perceive a brand.
What is repositioning?
This person in the buying center controls access to information.
What is the gatekeeper?
The AIDA model stands for Attention, Interest, Desire, and ___.
Action
This measures how much it costs to get one new customer.
What is Customer Acquisition Cost (CAC)?