Marketing Basics
A _____ is desired result a business wants to achieve.
goal
Name the 4 P's
product, price, place, promotion
_____ is when you divide a market into smaller groups of similar customers.
segmentation
_____ is aspecific group of customers a business aims to reach
target market
______ is a unique feature or benefit that sets a business apart.
USP
Dear future _____ , here's a few things you need to know....
BONUS POINTS FOR SINGING
husband
A _____ is a plan of action to reach a goal.
strategy
_____ are goods, services, or ideas offered to customers.
product
_____ is segmentation based on physical and social traits (age, gender, income, etc)
demographic
______ is marketing to the entire market with one approach.
mass marketing
Why is the USP important?
helps a business stand out from the competition
I got a feeling that tonight's gonna be a ______ _______ .....
BONUS POINTS FOR SINGING
good night
_____ are specific actions used to carry out strategies.
tactics
______ is where and how the product is made available to customers.
place
______ is segmentation based on location (city, region, climate, etc)
geographic
_______ is marketing to specific groups with tailored strategies.
segment marketing
Give an example of a USP and its corresponding company.
----
Clap along if you feel like a room _____ ___ _____ .....
BONUS POINTS FOR SINGING
without a roof
Why are strategies important?
They guide the Business in reaching its goals efficiently.
_____ informs, persuades, and reminds customers to buy.
promotion
_____ segmentation is based of lifestyle and personality.
psychographic
Name an advantage of segmentation marketing.
Better meets customer needs
more precise marketing
What makes a USP effective?
it's clear, specific, meaningful, and unique
I'm walking on sunshine, woah-oh, and don't it feel ______ .....
BONUS POINTS FOR SINGING
good
What is the relationship between goals, strategies, and tactics?
goals are what you want
strategies plan how to get there
tactics are actions to make it happen
Why does the marketing mix have to work together?
Because all the elements are connected. Changing one affects all the others.
______ is based on customer behavior (usage, loyalty, benefits, occasions)
behavioral
Name a disadvantage of segmentation marketing.
requires more time, effort, and resources.
costs more
How does a USP help marketing?
It gives a clear message and a competitive advantage
Is this the _____ ______, is this just fantasy? .....
BONUS POINTS FOR SINGING
real life