Marketing Review

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Across
  1. 5. segmentation based on personal characteristics. Ex. age, gender, income, background, education, etc.
  2. 8. usually under a logo; the catchphrase to grab your attention; the hook; can also be the company's slogan
  3. 11. the identification symbol for the company in an ad
  4. 12. setting high prices to reflect exclusivity or quality
  5. 14. adding a markup to the cost
  6. 18. coordinating with supplies and partners to make sure that raw materials and finished goods are available when needed without delay
  7. 23. the selling message of the ad
  8. 27. refers to all the ways a company communicates with its target audience to inform, persuade, and remind them about its products
  9. 29. deciding which products to offer, how to differentiate them from competitors, and how to align the products with the company's brand and goals
  10. 33. segmentation based on the hierarchy of consumers needs
  11. 34. headline, illustration, slogan, copy, logo
  12. 35. a catchphrase used to identify the product or company
  13. 36. identifying customers needs through questioning, offering solutions (products), and using persuasive techniques to close the sale
  14. 38. Ensuring customer satisfaction after the sale through follow-up, handling returns or complaints, and offering support services such as warranties or repairs
  15. 40. pricing must cover the cost of production, distribution, and promotion while allowing the company to make a profit
  16. 41. building long term relationships with customers by providing personalized service, addressing concerns, and anticipating future needs
  17. 43. how you sell
  18. 44. direct interaction between a sales representative and a customer, typically in person, to build relationships and make sales
  19. 45. setting low prices to gain market share
Down
  1. 1. an approach which segments the mass market in order to tailor the marketing mix to a specific type of consumer; applies to a homogeneous or similar groups. Advantages include identifying the most profitable customers, improves customer service, allows for more efficient advertising, focus on particular customers, and allows a competitive advantage. Disadvantages include segment size, increased production cost, overlooking potential customers, and potential customers not fitting into any market segment
  2. 2. ensuring the price reflects the perceived value to the customer and its' competition in the market
  3. 3. updating or enhancing existing products to remain competitive, whether through adding new features or redesigning based on customer feedback or new marketing trends
  4. 4. identifying customers needs:researching and designing products that satisfy those needs
  5. 6. ensuring a smooth online purchasing process and fast delivery through digital platforms
  6. 7. a fancy word for font
  7. 9. location-based segmentation; includes consideration of MSAs
  8. 10. managing transportation, warehousing, inventory control, and order fulfillment to ensure the products moves smoothly from manufacturer to consumer
  9. 13. Element of a print and to attract attenttion
  10. 15. the visual part of a logo; can range from simple arrow to a detailed rendition; it can be an icon or symbol
  11. 16. similar groups of consumers a company wants to attract
  12. 17. short-term incentives like discounts, coupons, or special offers to encourage immediate purchase
  13. 19. segmentation based on attitudes, values, lifestyles, and hobbies; requires knowledge on trends; magazine publishers
  14. 20. creating and maintaining a product involves all the decisions and activities a business undertakes to develop, improve, and manage its product or service offerings overtime
  15. 21. managing the different stages of a products' life cycle, from introduction to growth, maturity, and eventual decline, by making adjustments to keep the product relevant
  16. 22. strengths, weaknesses, opportunities, and threats
  17. 24. Engaging in ethical practices and offering reliable customer service
  18. 25. building and maintaining a positive public image through events, press releases, and media outreach
  19. 26. understanding what customers are willing to pay based on market demand, competition, and perceived value
  20. 28. wholesale or retail stores; a type of distribution channel
  21. 30. online efforts, such as social media marketing, email campaign, content marketing, and influencer partnership to engage with a wider audience
  22. 31. paid messages through channels like TV, radio, digital ads, or social media, designed to create awareness or general interest
  23. 32. production-oriented approach using the same marketing mix to vaguely target ALL consumers; applies to a heterogeneous or diverse group. Advantages include cheap, diverse, and less work. Disadvantages include success rates, difficulty to change, increased competition,loss of the "niche effect", and less of a competitive edge
  24. 37. Price, products, place, and promotion
  25. 39. attracts reader's attention; no more than 7 words; 80% of people only read this
  26. 42. the process of promoting, selling, and distributing a product or service