Unit 1
Product, Price, Promotion, Place (distribution).
Marketing Mix
Marketing method using print, television, radio, or billboards to reach a target audience, known for its high cost but high return on investment.
Traditional Marketing
extends the marketing concept by acknowledging that some products that customers want may not really be in their best interests or the best interests of society as a whole
Societal Marketing Orientation
Marketing through websites and social media platforms like Facebook or Instagram, is cheaper than traditional methods but may be less effective.
Digital Marketing
A form of marketing communication that promotes goods and services through various channels such as television, radio, print, online ads, and social media.
Advertising
A group of buyers for a specific product or service, where understanding customer needs and satisfaction is crucial for success.
Target Market
Type of product advertisement introducing a new product or service to the market.
Pioneering Advertising
products and services are marketed with the philosophy that customers care about price and bargains more than quality
Sales Orientation
are the internal factors that are negative compared to competitors. these factors are likely to prevent or delay the business from achieving its organizational objectives.
Weaknesses
Approaches businesses use to engage customers, including production, product, sales, marketing, and societal marketing orientations.
Marketing Philosophies
What are the four categories of Market Segmentation and what are they for?
Demographics, Geographic, Psychographic and Behaviors.
Marketing aimed at branding a company, establishing long-term relationships, building trust, and associating the brand with causes or ideals.
Institutional Advertising
the business focuses on improving efficiency in producing its products or services, appealing to customers with efficiency and low prices
Production Orientation
Marketing to influence public opinion on an issue, commonly used by organizations to promote products or services.
Advocacy Advertising
Informing people about a product so that they want to buy the product.
Advertising
Determining where a product fits in the market based on unique features and competitive advantage, crucial for marketing strategy.
Product Positioning
Advertisement indirectly contrasting a brand with another to showcase quality and features to consumers.
Comparative Advertising
business with this philosophy develops innovative, high-quality products that excite consumers into purchasing them
Product Orientation
Promotion of a specific product or service, focusing on short-term relationships with customers and creating awareness.
Product Advertising
A useful tool for a company to understand what forces internally and externally will affect its business or product launch.
SWOT
Strengths, Weaknesses, Opportunities and Threats
Strategy to distinguish a product from competitors, highlighting unique features and advantages to create brand awareness.
Market Differentiation
Advertisement that brings up a challenger's brand or services to sell their own by comparison.
Competitive Advertising
considers the needs of customers when developing a marketing mix
Marketing Orientation
Ms Washburn Says: How many pets do I have and name at least one of them.
Ms Washburn says: Name one of my historical ops. (Universally hated figures don't count)
Answers may vary.