Marketing Fundamentals
This is the group of consumers a company designs its marketing efforts to reach.
What is a target market?
This process involves designing, creating, and refining a product before it is sold to customers.
What is product development?
A fan buys the same team's merchandise year after year and attends games whenever possible. This demonstrates this type of connection to the team.
What is brand loyalty?
This visual symbol or design represents a company or brand and helps customers identify it.
What is a logo?
"America runs on _______________."
What is Dunkin’?
Age, income, and education are examples of these characteristics that marketers use to divide consumers into groups.
What are demographics?
This practice allows a company to earn money by letting another business use its brand name, logo, or characters on products.
What is licensing?
This is the process of bringing a sponsorship to life through promotions, experiences, and interactions with fans.
What is activation?
This is the process of changing a company's existing brand identity to create a new image or perception.
What is rebranding?
"Red Bull gives you _______________."
What are wings?
These are the interests, values, attitudes, and lifestyles that marketers use to understand consumers.
What are psychographics?
A water bottle has double-wall insulation. The fact that it keeps drinks cold all day is an example of this.
What is a benefit?
This revenue stream includes money earned from broadcasting games on television or streaming platforms.
What are media rights?
When a company changes its logo, colors, or packaging, it risks losing this if customers no longer recognize the brand.
What is brand recognition?
"Like a good neighbor, _______________."
What is "State Farm is there"?
The reason why marketers use target markets.
What is to focus their marketing efforts and resources on the consumers most likely to buy their product?
Name all four elements of the marketing mix.
What are product, price, place, and promotion?
Identify all four parts of a SWOT analysis.
What are strengths, weaknesses, opportunities, and threats?
The Olympics provides specific requirements that designers must follow when creating official emblems, logos, and other branded materials. These requirements are examples of these.
What are brand guidelines?
"The Few. The Proud. _______________."
What are "the Marines"?
This is the process of gathering information about consumers before launching a product or service.
What is market research?
A luxury watchmaker sells its watches through only a small number of carefully selected retailers. This is an example of this distribution strategy.
What is selective distribution?
During our Brewers field trip, we learned the team has around how many corporate sponsors?
What is just over 100? (Roughly 110)
A designer chooses images, fonts, and colors that all support the same overall look and message. This helps create a visually ___ design.
What is cohesive?
"The best part of wakin’ up is _______________."
What is "Folgers in your cup"?