4 P's
What are the 4 P's of marketing?
Product, price, place, promotion
What is personalization?
Products specifically for the identified needs of an audience.
What is high-income consumers?
A company selling high-end luxury cars.
What is a target market?
This term describes a specific group of consumers a business aims to reach with its products or services.
What is Generation Z?
Promotional strategies like influence partnerships are popular in marketing to this age group, often found on social media.
What are fashion items or smartphones?
The youth market is often targeted by brands selling these products.
What is demographic segmentation?
This type of segmentation divides the market based on age, gender, income, or education level.
Which of the 4 P's does distribution fall under?
Place
What is email marketing?
Businesses targeting parents often use coupons and discounts as part of their marketing strategy through this channel.
What are eco-conscious consumers?
This group, characterized by being environmentally conscious.
What is niche marketing?
This marketing strategy focuses on creating products for a narrow audience with specific needs.
The amount of money that customers must pay to acquire a product or service.
Price
What is direct mail?
To effectively reach seniors, brands often use larger print and this traditional method of communication.
What are millennials or Generation Z?
Prioritize innovation and cutting-edge technology.
What is psychographic segmentation?
When a company divides its target market based on lifestyles and values.
What is a B2B (Business-to-Business) market?
Companies selling to other businesses, rather than directly to consumers.
What are Generation Z consumers?
An emerging market known for their purchasing power.
What is market research?
Identifying the motivations and behaviors of a consumer is crucial for this process.