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26 Cards in this Set
- Front
- Back
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Marketing Mix |
Four basic marketing decisions of price, place, product, promotion (4Ps) |
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Marketing Information Management |
Likely to gather consumer trends |
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Marketing Plan |
A formal written document that directs a company's activities for a specific period of time |
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Object Analysis Sheet |
Making a list of reasons for not purchasing a product and possible responses to those reasons |
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Object Ending Questions |
"What brings you in today?" |
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Outdoor Advertising |
When the message needs to be visually impactful |
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Penetration Pricing |
A new-product method that allows a company to attract a large number of customers quickly |
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Physical Inventory |
It's just counting, it does not allow a business to automatically order a new stock |
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Price Planning |
Begins with cost and expense analysis |
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Product Features |
A particular soft drink in regular, diet, caffeine free, vanilla, cherry, etc. |
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Product Promotion |
Advertising for a product |
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Promotional Plan |
Utilizing social media |
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Psychographics |
Takes into consideration hobbies and interests |
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Publicity |
Part of Public Relations |
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Routine Decision Making |
Purchasing the same product over and over with little thought |
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Sales Revenue |
Price x Quantity Sold |
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Selling Function |
When a sales person approaches you in a store |
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Selling Techniques |
When a sales person can't determine a customer's range they should begin a product presentation by offering medium-priced products |
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Shoplifting |
Affects product costs, payroll costs, and retail prices |
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Standing Room Only Close |
"There are only 2 of these left at this price" |
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SWOT Analysis |
Studying strengths, weaknesses, opportunities, threats |
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Target Marketing |
Creating a plan to meet the needs and desires of a specific group of potential customers |
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Third-Party Method |
Using testimonials from satisfied customers or other neutral parties |
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Values |
Beliefs that help you make the choices you do for the way you live |
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VP of Marketing |
Responsible for planning, pricing, promoting, selling, and distributing ideas, goods, and services |
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Which Close |
Determining, choosing between this product or that product |
