From Era to Era!
This era focused on mass production, assuming that there was a limitless market for anything produced.
What is the Production Era?
This part of the marketing mix involves motivating potential customers through advertising, public relations, and promotions.
What is promotion?
Grouping customers by the specific benefits they seek from a product.
What is benefit segmentation?
This is the first step in the research process, where you define the problem and understand what you need to learn.
What is defining the question?
This new era of marketing places a premium on consumers' ability to access services and make purchases instantly, often via smartphones.
What is the Mobile-On-Demand Marketing Era?
This self-made entrepreneur, who began his career as a painter, co-founded an online marketplace focused on handmade, vintage, and unique goods, eventually turning it into a billion-dollar company.
Who is Rob Kalin (co-founder of Etsy)?
In this era, businesses realized they had to aggressively sell and advertise their products to persuade consumers to buy what was already made.
What is the Selling Era?
The amount of money a customer pays to obtain a product, which is influenced by competitors, production costs, and distribution.
What is price?
Segmenting a market based on factors like age, gender, income, and education.
What is demographic segmentation?
This type of data is already collected and available, such as from books, online articles, or government reports.
What is secondary data?
This mobile marketing expectation is all about being able to interact with brands anytime, anywhere.
What is instant access?
She is the founder of Spanx, a company known for its innovative shapewear, and became the youngest self-made female billionaire in the U.S. in 2012.
Who is Sara Blakely (founder of Spanx)?
This post-WWII marketing philosophy emphasized meeting customer needs, providing excellent service, and staying profitable.
What is the Marketing Concept Era?
This element of the marketing mix refers to the product itself, including its features, branding, and any related services.
What is product?
Dividing markets by location, such as by region or city.
What is geographic segmentation?
Using the insights from research, this step involves putting strategies into action based on your findings.
What is implementing solutions?
Consumers now expect information that adds value, allowing them to make smarter decisions and use it to their benefit.
What is information that adds value?
Known as a master of scaling businesses, this entrepreneur turned his online platform for selling books into a worldwide marketplace for almost everything, later launching a cloud computing empire.
Who is Jeff Bezos?
This era marks the shift to using Customer Relationship Management (CRM) to exceed customer expectations and build loyalty.
What is the Customer Relationship Era?
This "P" is all about getting the product to the right place at the right time, including choosing the distribution channels.
What is place?
This type of segmentation focuses on consumer lifestyles, values, and attitudes.
What is psychographic segmentation?
This research method involves gathering firsthand data through surveys, focus groups, or interviews.
What is primary data collection?
Today’s consumers demand this in their interactions, expecting their experiences to be tailored to them personally.
What is personalized experiences?
This Apple co-founder, known as "Woz," was the technical mastermind behind the Apple II computer, which revolutionized the personal computer industry.
Who is Steve Wozniak?
This current era is defined by consumers expecting instant access, personalized experiences, and easy interactions, often through mobile technology.
What is the Emerging Mobile/On-Demand Marketing Era?
The combination of product, price, place, and promotion to deliver value to the customer is called the ___ ___.
What is the Marketing Mix?
This approach targets small but profitable market segments, often through tailored products or services.
What is niche marketing?
After collecting data, this step involves interpreting it to uncover meaningful insights for decision-making.
What is data analysis?
In the mobile marketing era, businesses are focusing on providing this kind of interaction for customers quick and simple.
What is simple, streamlined interactions?
This entrepreneur, who founded Scrub Daddy, turned his appearance on Shark Tank into a massive success, growing his company into one of the highest-grossing Shark Tank businesses.
Who is Aaron Krause (founder of Scrub Daddy)?