Marketing Fundamentals Quiz

Marketing Fundamentals

• Marketing: Promoting, selling, and distributing products/services to satisfy customer needs & wants.
• Pricing: Determining product/service value and setting a cost balancing profitability and demand.
• Marketing Importance for Business Owners: Attracting customers, increasing sales, building brand awareness, and maintaining competitiveness.
• Advertising Role: Informing, persuading, and reminding customers about products/services to encourage purchase.
• Promotion: Activities to inform and persuade customers.
• Branding: Creating a unique identity for a product/company through logos, colors, messaging, and reputation.
• Product (4Ps): The actual good or service offered to meet customer needs.
• Target Audience: A specific group of consumers a business aims to reach with marketing.
• Selling: Persuading customers to purchase.
• Market Research First Step: Identifying the problem or research objective.
• Product Planning 5th Step: Commercialization (launching the product).
• Understanding Target Audience Importance: Tailoring strategies to customer needs, increasing engagement, and improving sales.
• Toy Store Target Audience Example: Parents with young children, grandparents, and kids (3-12).
• Teenager Ad Tailoring: Use social media, trendy visuals, relatable language, and highlight features appealing to their interests.
• Target Audience Research Methods: Surveys, focus groups, social media analytics, competitor analysis, and customer feedback.
• Slogan: A short, memorable phrase representing a brand/product.
• CTA (Call to Action): A statement/phrase encouraging audience action.
• Good Slogan Attributes: Short, catchy, memorable, reflecting the brand's message.
• Most Expensive/Effective Promotion: Television advertising.
• CTA in Advertising Importance: Encourages specific actions (purchase, sign-up).
• Advertisement Key Components: Headline, visuals, message, call to action, and brand elements.
• Visuals in Advertising Role: Grabbing attention, enhancing the message, creating emotional appeal.
• Color Impact on Ads: Evoking emotions and influencing consumer perceptions.
• Ad Design Balance Importance: Clarity, professionalism, and effective communication.
• Persuasive Advertisement Techniques: Emotional appeal, celebrity endorsements, scarcity.
• Product/Service Management Purpose: Developing, maintaining, and improving products based on customer needs and market trends.
• Market Research: Gathering information about consumers, competitors, and industries.
• Competitors: Businesses offering similar products/services to the same target audience.
• Marketing Strategy: A plan of action to meet a specific goal.
• Profit: Money remaining after all expenses and costs.
• Promotion (Marketing Function): Communicating product/service information to potential customers.
• Distribution Channel (Supply Chain): The route a product takes, including businesses involved, from producer to consumer.
• Marketing Strategy Steps: Identifying the target market and creating a marketing mix.
• Product Development: Creating new or improved products.