Marketing Basics Quiz

What is Marketing?

• Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.
• It involves understanding consumer needs, creating products or services that meet those needs, and communicating the value of those products or services to potential customers.

Marketing Mix (4 Ps)

• Product: What your company sells or offers to meet the needs of your target market.
• Price: The amount your target market pays for your product or service.
• Promotion: All the ways you communicate with your target market to persuade them to buy your product or service.
• Place: The channels or methods you use to get your product or service to your target market.

Types of Marketing

• B2B (Business-to-Business): Marketing products or services to other businesses or organizations.
• B2C (Business-to-Consumer): Marketing products or services directly to individual consumers.
• Digital Marketing: Marketing through digital channels such as social media, email, and search engines.
• Experiential Marketing: Creating memorable experiences for customers to engage with a brand or product.

Marketing Objectives

• Awareness: Creating awareness of a product, service, or brand among a target audience.
• Acquisition: Attracting new customers or converting prospects into customers.
• Retention: Keeping existing customers and encouraging repeat business.
• Loyalty: Building long-term relationships with customers to create loyalty and advocacy.

Marketing Strategies

• Segmentation: Dividing a larger market into smaller groups based on shared characteristics.
• Targeting: Selecting a specific segment to target with a marketing campaign.
• Positioning: Creating a unique identity or image for a product or service in the minds of the target audience.
• Differentiation: Creating a unique selling proposition (USP) to differentiate a product or service from competitors.

What is Marketing?

• Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.
• It involves understanding consumer needs, creating products or services that meet those needs, and communicating the value of those products or services to potential customers.

Marketing Mix (4 Ps)

Product

• What a company sells or offers to meet the needs of its target market.

Price

• The amount the target market pays for a product or service.

Promotion

• All the ways to communicate with the target market to persuade them to buy a product or service.

Place

• The channels or methods used to get a product or service to the target market.

Types of Marketing

B2B (Business-to-Business)

• Marketing products or services to other businesses or organizations.

B2C (Business-to-Consumer)

• Marketing products or services directly to individual consumers.

Digital Marketing

• Marketing through digital channels such as social media, email, and search engines.

Experiential Marketing

• Creating memorable experiences for customers to engage with a brand or product.

Marketing Objectives

Awareness

• Creating awareness of a product, service, or brand among a target audience.

Acquisition

• Attracting new customers or converting prospects into customers.

Retention

• Keeping existing customers and encouraging repeat business.

Loyalty

• Building long-term relationships with customers to create loyalty and advocacy.

Marketing Strategies

Segmentation

• Dividing a larger market into smaller groups based on shared characteristics.

Targeting

• Selecting a specific segment to target with a marketing campaign.

Positioning

• Creating a unique identity or image for a product or service in the minds of the target audience.

Differentiation

• Creating a unique selling proposition (USP) to differentiate a product or service from competitors.