Marketing 1
What is promotion?
Informing potential customers that a product or service exists, and the results they should expect from using it.
What does SWOT stand for?
Strengths, Weakness, Opportunities and Threats
What helps businesses get noticed online through Google, Bing or Yahoo when looking for a website?
Search Engine Optimization
What is a cash cow?
product that has high market share in a low-growth market
What is the low-cost promotion strategy that uses the element of surprise.
Guerilla Marketing
Give an example of a sales promotion that companies use?
BOGO, Food Samples, Discounts, Window Displays
Helps build a relationship between a person or organization and the public. Need to be strategic!!!!
Public Relations
True or False: Marketers assist the organization in gathering and analyzing information not necessary to examine the current situation.
False
Why is integrity so important when doing any promotion?
Some companies may misrepresent facts, attempt social manipulation, and possibly reinforce offensive behavior or stereotypes.
What are the 2 internal of a SWOT
Strengths and Weakness
What type of promotion where a business communicates directly, but not in-person, with their target customers
Direct Marketing
What has Low market share in a high-growth market are called of the matrix
Question Marks
Direct Mail, TV Ads, Radio, Telemarketing, Viral, Grassroot, Influencer etc
The products that have low market share in a low-growth market. These are prime candidates for divestiture or elimination because they have relatively low growth potential.
Dogs
Any media created by a business. This includes company websites, company blogs, social media profiles, webinars, video content, podcasts, and email platforms and automation.
Owned Media
What are the 2 types of product promotion?
Primary and Secondary
Marketing in the strategic planning process has several basic but critical functions:
assist the strategic planning team
assist the organization in gathering
responsible for the identification of trends
Politicians and government officials also use this type of promotion to “sell” their ideas, and to build awareness about their policies.
Telemarketing
Large organizations such as Apple, Alphabet, General Electric, Meta, and Microsoft often have multiple diverse business units called
Strategic Business Units
Promotion of a business or organization as a whole, highlighting its social responsibility or public relations, and its patronage.
What are the 5 things that make up the promotional mix?
Advertising, Personal Selling, Sales Promotion, Direct Marketing, Public Relations
What does PESO stand for?
Paid, Earned, Shared, Owned
In the SWOT Analysis: What are our competition doing we not doing
Threat
What analyze a business product lines and make decisions on which products to invest in the future and which to not invest in. Ex, Stars and Cows
BCG Matrix
Why are strategic promotional plans important?
Successful if they accurately and effectively inform potential customers of the results they should expect, increase sales and demand, clearly highlight the benefits of its product versus its competitors, improve a product and/or company’s image, achieve the desired ROI, and maybe even increase the customer’s standard of living.