Marketing Concepts
What is the term for the advantage a company has over its competitors?
What is Comparative Advantage?
What is the first stage of the product life cycle?
What is Introduction?
What type of purchase is driven by a feeling, such as buying a gift?
What is an Emotional Purchase?
What type of segmentation identifies customers based on their geographic location?
What is Geographic Segmentation?
Name a professional sports league that uses product placement effectively in broadcasts.
What is the NFL, NHL, NBA, MLB
What is the marketing mix commonly known as?
What are the 4 P’s?
In which stage do profits typically begin to level off?
What is Maturity?
What purchase type occurs when a customer buys something because of previous experiences with a brand?
What is a Patronage Purchase?
Which segmentation focuses on consumer lifestyles and values?
What is Psychographic Segmentation?
How does Adidas engage with its target market through advertising?
What is by collaborating with athletes and influencers?
What term describes marketing strategies aimed at specific groups of consumers?
What is Target Market?
What is the primary goal during the Decline stage of a product's life cycle?
What is to maintain market share?
What is a purchase made after careful consideration and assessment?
What is a Rational Purchase?
What segmentation method analyzes consumer behaviors and purchase habits?
What is Behavioral Segmentation?
What marketing strategy did Coca-Cola employ during the 2022 FIFA World Cup?
What is a global advertising campaign with limited-edition packaging?
Which marketing concept focuses on meeting consumer needs for long-term benefits?
What is Societal Marketing?
Which stage is characterized by increasing sales and market awareness?
What is Growth?
How do emotional purchases differ from rational purchases in terms of decision-making processes and consumer motivations?
Emotional purchases are driven by feelings and impulses, while rational purchases are based on logic and careful consideration of needs and benefits.
How is demographic segmentation defined?
What is identifying consumers based on characteristics like age, gender, and income?
What major clothing company partnered with the NHL to produce and sell team jerseys, enhancing fan engagement and merchandise sales?
What is Fanatics?
In marketing, what does the term "product placement" refer to?
What is the practice of featuring a brand or product in a TV show or movie?
What strategy might a company use during the Maturity stage to extend the product life cycle?
What is rebranding or introducing new features?
What type of purchase is influenced by brand loyalty, such as consistently buying the same brand of detergent?
What is a patronage purchase?
What psychographic segments would Nike primarily focus on to effectively market its athletic products?
values such as fitness, influencers, lifestyle, and social identity
How does the NHL utilize social media platforms to connect with younger fans and promote the sport of ice hockey through highlights, player interactions, and behind-the-scenes content?
What is by sharing engaging content on platforms like Instagram, TikTok, and Twitter to reach and engage a broader audience?