5Ps
What are the five components of the marketing mix, often called the 5 Ps?
Answer: Product, Price, Place, Promotion, and People.
What is a “target market”?
Answer: The specific group of customers most likely to buy a product or service.
What are the 4 components of a SWOT analysis?
Answer: Strengths, Weaknesses, Opportunities, and Threats
When and where is DECA Districts?
Answer: Friday, November 14th at Trojan Arena (Fountain-Ft. Carson HS)
What is one thing you should always do before handling food or drinks at Kadet Coffee?
Answer: Wash your hands with warm, soapy water for at least 20 seconds.
What is the “Product” in the marketing mix?
Answer: A good or service that satisfies a want or need.
Which four main ways can marketers segment a market?
Answer: Demographic, Psychographic, Geographic, and Behavioral segmentations.
What is the main goal of “Place” in the marketing mix?
Answer: To get the right product to the right customer at the right time, place, and quantity.
Give three examples of characteristics that would fall under the demographic segmentation.
Answer: Age, gender, income level, education level, marital status, etc.
What is the difference between a feature and a benefit of a product?
Answer: A feature is a fact or attribute of the product, while a benefit explains why that feature matters to the customer.
What does psychographic segmentation focus on?
Answer: People’s lifestyles, attitudes, values, and opinions.
What is one internal factor and one external factor that can affect pricing decisions?
Internal – cost of goods or operating expenses. External – competition, supply and demand, or government regulations.
A company learns that customers who buy protein shakes are loyal to a certain brand, buy the drinks often, and like to order online. What type of segmentation in this?
Answer: Behavioral
What’s the most forgotten item to be cleaned in the shop?
Answer: The milk steamer wand