Develop a Marketing Strategy Flashcard for Students

Front

What is the main goal of customer needs analysis in marketing?

Back

Understand customer needs

Front

What magical tool will help identify the perfect target market?

Back

Market segmentation

Front

What does USP mean in marketing?

Back

Unique Selling Point

Front

Which of the following is NOT part of the marketing mix? Product, Price, Promotion, Partnership

Back

Partnership

Front

What is the main goal of competitor analysis?

Back

Understand competitors' strengths and weaknesses

Front

Which pricing strategy involves starting with a high price to attract tech enthusiasts before gradually lowering it?

Back

Skimming pricing

Front

What is the role of market segmentation in an investigation?

Back

To divide the market into groups with common needs

Front

Imagine you're launching a new product and you need to choose the best way to get it to your customers. Which of the following is a distribution channel? Options: Social media, Online retail platforms, Television advertising, Public relations

Back

Online retail platforms

Front

Why do marketers, like Ava and Scarlett, get excited about understanding consumer behaviour trends?

Back

They provide insights into customer preferences and buying habits

Front

Which part of the promotional mix is used when talking directly to customers to persuade them to buy products?

Back

Personal selling