Basic Principles
4 P's
Hierarchy of Needs
5 Steps
Segmentation
100

What is a need? 

Something necessary for life
100

What are the 4 P's?

Product, Price, Promotion, and Place

100
Name 3 basic (physiological) needs? 

Food, water, air

100

Who invented the 5 steps? 

John Dewey

100

What does segmentation mean? 

division into separate parts or sections.

200

What is the difference between a good and a service? 

a good is tangible and a service is intangible

200

What are 2 important things to recognize with the price portion?

how much revenue you want to make and ensuring your item is properly valued

200

When and who (first and last name) invented the hierarchy of needs? 

Abraham Maslow in 1943

200

What is the 2nd step

Searching for information

200
How many main types of segmentation are there? 

4

300

What is marketing? 

Marketing is the process of developing, promoting, pricing, selling, and distributing products



300

What does promotion encompass? 

Informing and reminding customers of products available to them and persuading them to purchase. Promotion consists of advertising, public relations, sales promotion, and personal selling. 

300

What is the 4th tier and when do we achieve this? 

The fourth level is Self-Esteem. It is achieved when individuals feel comfortable with what they have accomplished, and all prior needs are met. 

300

What is the 3rd step

Evaluating alternatives

300

What two companies use all 4 types (we went over in class)?

Apple and Nike

400

What is the target market for this photo?

Children who want new toys

400

Where would the best location for this advertisement be? 


Sporting goods store/Adidas store

400

Tora has been feeling like she is never included in group activities or social events. He has been feeling a bit lonely lately so according to Maslow, which category of needs has not been fulfilled? 

Love and Belonging (level 3)

400

What is the 1st step and why is it crucial as marketers?  

Identifying the need/problem. Without a need/problem, no one will buy anything. 

400

What are the 2 most common type of segmentation?

Geographical and Demographic

500

Provide an example, used in class, of a company that provides both goods and services

Starbucks

500

What assignment did we do in class to ensure we were all familiar with the P's? 

Shark Tank

500

What are the levels to the needs pyramid in order? 

Physiological Needs, Safet and Security, Love and Belonging, Self-Esteem, and Self-Actualization. 

500

What is the 5th step

Post purchase review/behavior

500

What are all 4 types of segmentation? 

Demographic, Geographical, behavioral, and psychographic

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