Marketing Unit Jeopardy

1

1

This is the company's portion of the total sales in any market. 

Market Share

1

This type of market segmentation groups consumers based on where they live. 

Geographic 

1

What type of product does this PLC graph represent?

Seasonal Product

1

Draw the distribution path for retailer distribution. 

Producer -> Retailer -> Consumer

1

This type of market segmentation groups customers based on lifestyle, values, interests, or attitudes. 

Psychographic Segmentation

2

1

This stage of the PLC is where companies determine if they want to revamp their product or discontinue it. 

Decline Stage

1

This type of product development takes something existing and improves it. 

Innovations

1

List the 4 main pricing strategies (1 mark for each)

cost-plus pricing, competitive pricing, penetration pricing, and skimming pricing

1

This type of competitor sells different products or services.

Indirect Competitor 

1

This stage of the PLC is where competitors enter the market and companies focus on branding. 

Growth Stage

3

1

List the 6 different ways companies innovate their products (1 mark for each)

new materials, new scents, new flavours, new colours, new designs, new packaging

1

List the four components of the marketing mix (1 point for each). 

Product, place, price, and promotion

1

What does the acronym AIDA stand for? (1 mark for each letter)

Attention, Interest, Desire, and Action

1

Monthly snack boxes and vending machines are an example of what type of distribution?

Specialty Distribution

1

What are the 4 strategies companies use for social media marketing? (1 mark for each)

paid ads, influencer marketing, organic content, and engagement & interaction

4

1

This type of product development creates something brand new.

Invention

1

Draw the distribution path for direct distribution

Producer -> Consumer

1

What type of graph is used to show a company's market share?

Pie chart

1

A giant version of a product used for promotional reasons is an example of what type of marketing?

Stunt marketing

1

This part of the marketing mix is how a business communicates with customers to inform, persuade, and remind them about a product in order to encourage buying. 

Promotion

5

1

This type of competitor competes in the same market with similar products

Direct Competitor

1

This type of market segmentation groups consumers based on age, gender, income, or family status. 

Demographic 

1

List the six factors that affect the price of a product (1 mark for each)

cost of production, competition, target market, supply and demand, brand reputation, and convenience

1

This stage of the PLC is where sales level off and competition is at its highest point. 

Maturity 

1

This stage of the PLC has high marketing costs and low sales. 

Introduction Stage