Questions and Answers
Marketing is based on thinking only about the customer wants and their satisfaction and making it as a business
False
How do you understand 'Creativity'?
What is innovation?
The factor or consideration presented by the seller as the reason one product/service is different from and better than other competitors.
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The strategic functions involved in identifying and appealing to particular groups of customers
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Importance of Unique Selling Proposition.
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Marketing is focused on developing demand for the product and fulfilling customer needs.
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Which of the following is a characteristic of selling?
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What are three potential USPs for corned beef?
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Bakit mo _______?
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Study Notes
Marketing Concepts
- Marketing involves strategic functions to identify and appeal to specific customer groups.
- It focuses on understanding and satisfying customer needs, differentiating it from mere selling techniques.
- Selling aims to persuade people to exchange money for a product, whereas marketing develops demand and fulfills customer needs.
Unique Selling Proposition (USP)
- USP defines the unique factor presented by a seller that differentiates a product/service from competitors.
- A strong USP communicates why the product is better or different, influencing customer choice.
- Examples of USP vary across products; for toothpaste, it can be chemical composition or added features like organic ingredients.
Creativity and Innovation
- Creativity involves generating new ideas or approaches, important for differentiating products in the market.
- Innovation refers to the implementation of creative ideas into new or improved products/services enhancing market competitiveness.
Activity: Product Reflection
- Students should select a product and answer three reflective questions:
- Why did you buy it?
- Why did you use it?
- Why not choose other brands?
Application: Creating Your USP
- Encourage students to individually create a product and define three unique selling propositions.
- Suggested products for USP creation include:
- Ballpen
- Lipstick
- Corned Beef
Importance of USP
- Realizing the importance of USP helps businesses effectively market products, define their value, and stand out in the marketplace.
- A well-defined USP can lead to better customer recognition and loyalty.
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Description
Test your understanding of the Unique Selling Proposition in marketing with this comprehensive quiz. Explore key concepts such as creativity, innovation, and the strategic functions of marketing. Perfect for students looking to deepen their knowledge in marketing strategies.
