Vocab
The group of all potential customers who have similar needs and wants and have the ability to buy the product / service
What is a market?
Target market for new tennis shoes by Nike
What is athletes?
What are the three types of ads you can make?
Informational
Lifestyle
Sales
A question with that offers a unique response.
What is an open-ended question
Teen Vogue's target market...
What are teenage girls?
The percentage of total sales revenue acquired by a business within a market
What is market Share?
Target market for cribs, strollers, and mini-vans
Who are new or soon-to-be parents?
The term when a customer clicks on the ad and pays for a product.
a Conversion
Data that is presented as numbers,
information that can be quantified, that is counted
What is quantitative data
Teenage boys between the ages of 14 - 19 that live in Eastern Virginia is this type of segmentation
What is demographic and geographic segmentation?
The group or groups of potential customers identified as most likely to shop at a business and buy their specific products / services
What is target market?
Target market for fast food restaurants?
Who are parents, teenagers, or kids?
This social media symbol, when used correctly, can help increase the visibility of your posts and attract a larger audience.
Hashtags
Research done outside of the company
What is secondary research?
What businesses do to increase their share of the market
What is focus on target markets?
When the entire market is divided into smaller market segments that share similar characteristics
What is market segmentation?
Target market for health food stores
Who are health conscience people?
Two reasons to use hashtags
Popular hashtags
Start your own traffic
What a focus group is run by
What is a moderator
Strengths, weaknesses, opportunities and threats of a company
What is SWOT Analysis
The shorten version of your data results you provide to the manager/owner. It's a short summary.
What is a abstract?
Target market for new Tesla SUV
Who are people with high incomes or environmentally conscience?
What does CPM stand for?
Cost per 1000. (mille)
When two pieces of data are very similar, but aren't caused by each other
What is correlation?
Increasing market share is important to business so they can...
What is increase sales revenue?