Principles of Marketing
The process of promoting, selling, and distributing a product or service.
What is the definition of marketing?
To gather data about consumers and the market to make informed business decisions.
What is the main purpose of market research?
The study of how individuals make decisions to spend their available resources on consumption.
What is consumer behavior?
To promote products or services to potential customers.
What is the main goal of advertising?
Search Engine Optimization.
What is SEO?
The 4 P's of Marketing.
What is Product, Price, Place, Promotion?
Surveys and interviews.
What are two common methods of collecting data?
Motivation, perception, learning, beliefs, and attitudes.
What are some psychological factors that influence consumer behavior?
Television, radio, print, online, outdoor, etc.
What are some types of advertising media?
Increased brand awareness, customer engagement, cost-effectiveness, etc.
What are some benefits of social media marketing?
Strengths, Weaknesses, Opportunities, Threats.
What is SWOT Analysis?
A small group of people whose reactions to a product or service are studied.
What is a focus group?
A customer buys the product, while a consumer uses the product.
What is the difference between a customer and a consumer?
The extent to which consumers recognize and remember a brand.
What is “brand awareness”?
To directly reach and engage customers with promotional content.
What is the purpose of email marketing?
Needs are basic human requirements, wants are shaped by culture, and demands are wants backed by purchasing power.
What is the difference between needs, wants, and demands?
Qualitative research explores ideas and concepts, while quantitative research quantifies data and generalizes results.
What is the difference between qualitative and quantitative research?
The feeling of regret after making a purchase.
What is buyer's remorse?
Attention, Interest, Desire, Action.
What is the AIDA model?
Creating and distributing valuable, relevant content to attract and engage a target audience.
What is “content marketing”?
The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market.
What is the marketing mix?
Find out different segments within a market and the specific needs and preferences of each segment.
What is the objective of a market segmentation study?
Culture influences consumers' values, beliefs, and customs, which also affect their buying behavior.
What is the role of culture in consumer behavior?
Above the line refers to mass media advertising, while below the line refers to targeted, direct marketing efforts.
What is “above the line” and “below the line” advertising?
A model of internet marketing where advertisers pay a fee each time one of their ads is clicked.
What is “pay-per-click” (PPC) advertising?