Marketing 101
The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers.
What is Marketing?
The added value endowed to products and services.
What is Brand Equity?
Those who are most likely to by from you.
What is Target Market?
The vital and measurable statistics of a population.
What is Demographics?
Anything that can be offered to a market to satisfy a want or need.
What is a Product?
A statement that an organization develops to share with employees and customers.
What is a Mission Statement?
Deciding to create new versions of a brand within the same product category.
What is a Line Extension?
A written document that details the necessary actions to achieve one or more marketing objectives.
What is a Marketing Plan?
The division of a market into different homogeneous groups of consumers.
What is Market Segmentation?
The advancement of a product, idea, or point of view through publicity and/or advertising.
What is Promotion?
Brand+Experience+Product
What is Value Proposition?
Email, TV, social media and print are all examples
What are Marketing Channels?
A marketing strategy that aims to make a brand occupy a distinct place in the mind of the customer.
What is Positioning?
Dividing up buyers into groups on the basis of their knowledge of, attitude toward, use of, or response to a product.
What is Behavioral Segmentation?
The process of making a product or service available for the consumer or business user that needs it.
What is distribution or Place?
The process of gathering information to identify and define marketing opportunities and problems.
What is Marketing Research?
What does a company have if it is named in answer to the following question: "Name the first company that comes to mind in this industry."
What is Share of Mind?
An analysis of the external and external marketing environment.
What is SWOT?
Method adopted by a firm to establish a product's monetary value.
What is Pricing?
What is the Marketing Funnel?
Define the problem or opportunity, develop the research plan, collect data, analyze data, take action.
What is the five step Marketing Research Process?
Make a product more attractive by contrasting its unique qualities with other competing products.
What is Differentiation?
A deeply held commitment to rebuy or patronize a preferred product or service in the future
What is Brand Loyalty?
Marketing activities and programs that create, communicate, and deliver value such that “the whole is greater than the sum of its parts.”
What is Integrated Marketing?