What are the four P’s of marketing? |
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Product, Price, Promotion, Place |
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3 Major price considerations when deciding on a price |
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Competition based, Consumer based, Cost based |
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What are the activities in promotion? |
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advertising, personal selling, sales promotion, public relations |
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Promotion: (personal selling) |
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retailer and consumer salemanship |
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Promotion: (sales promotion) |
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event based news worthy to attract attention (ie: cutting prices) |
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Promotion: (public relations) |
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the art to get people to talk about the product (ie: words of mouth and media) |
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Place(one of the p’s of marketing) |
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ditribution and reachable market |
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1. Intro of production
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2. Growth
3.Maturity
4. Decline
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Innovations, Early Adaptors, Early Majority, Late Majority, Laggards.
(Innovators are the word of mouth people. The Early Adaptors help the product move forward. Both of them are the most important people.)
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the process to get through the marketing part. It is the people who want to be the first to get the product. |
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Who are the Early Adapters? |
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The people who buy the product if it looks good. |
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Who are the Early/Late Majority? |
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The large % of product selling. Hoping to move into majority from Life Cycle. (Big amounts being bought) |
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Those who buy the stuff when it is way past the style. |
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What do the Market segmentation look at?Give examples. |
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1. Substantial (is it big enough to go forward?)
2. Measurable (able to be analyzed?)
3. Accessible (can it distribute to it?)
4. Responsive (is target market able to buy product?) {important}
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What does DMA stand for and what is it? |
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-Designated Marketing Area
-geographics bounds of a media market
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locations based (ie: zipcode, state, room#) |
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life style based: [more interest based and hobbies based]. ie(those people who love music or hiking) |
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