Marketing
Marketing is how a business connects with people and convinces them to…?
Buy its product or service
Name one of the 4 Ps of marketing
Product, Price, Place, or Promotion
What does branding mean?
A business’s identity (how customers see and feel about it)
What does ROI stand for?
Return on Investment
What is demand?
How much people are willing and able to buy at different prices
What’s the difference between marketing and sales?
Marketing gets people interested; sales convinces them to buy
Which P focuses on how much a business charges?
Price
What does USP stand for?
Unique Selling Proposition
What does ROI tell you?
If the money spent on marketing was worth it
What does “ceteris paribus” mean?
All other things being equal
Name one digital marketing technique
Social media ads, paid search ads, email marketing, etc.
Which P involves how customers can access the product (online or in stores)?
Place
What is a USP?
The specific reason a product stands out from competitors
What is the ROI formula?
(Profit – Cost) ÷ Cost × 100
What happens to the quantity demanded when the price goes up?
It decreases
How do companies find out what people want?
Through research, surveys, or studying trends
Which P is about communicating value through ads, PR, or events?
Promotion
What does segmentation mean?
Dividing a market into smaller groups with shared traits
What does the conversion rate measure?
The percentage of people who take action after seeing a campaign
Name one non-price factor that affects demand.
Income, preferences, population, related goods, or expectations
What type of marketing builds customer loyalty and rewards repeat buyers?
Relationship-building marketing
Which P is about what the business is actually selling?
Product
Name one type of market segmentation.
Demographic, geographic, psychographic, or behavioral
If 1,000 people see an ad and 50 buy, what’s the conversion rate?
5%
What is supply?
How much of a product or service is available for people to buy