Marketing Strategies Flashcards

Front

Surveys

Back

How it works:
Customers answer questions online, on paper, by phone, or in person.

What businesses learn:

• Customer satisfaction

• Product preferences

• Buying habits

• Opinions about prices or ads
  

Example:
A clothing store emails a survey asking customers how satisfied they were with their last purchase.

Strengths:

• Can reach many people

• Easy to organize data

• Inexpensive
  

Limitations:

• People may not answer honestly

• Low response rates
  

Key word to remember: Feedback

Front

Transactional Tracking

Back

What it is:
Transactional tracking collects data from actual purchases customers make.

How it works:
Businesses track sales receipts, loyalty cards, or online purchase history.

What businesses learn:

• What products sell best

• How often customers buy

• How much customers spend
  

Example:
A grocery store tracks which items are most frequently bought together.

Strengths:

• Uses real behavior (not opinions)
  Very accurate
  

Limitations:

• Does not explain why customers buy.

Key word to remember: Purchases

Front

Interviews and Focus Groups

Back

What it is:

• Interviews: One-on-one conversations
  

• Focus Groups: Small group discussions led by a moderator
  

How it works:
Participants answer open-ended questions and share thoughts in detail.

What businesses learn:

• Customer feelings

• Reasons behind choices

• Reactions to new ideas
  

Example:
A company invites 8 people to discuss a new snack flavor.

Strengths:

• Deep, detailed information

• Allows follow-up questions
  

Limitations:

• Time-consuming

• Small sample size
  

Key word to remember: Discussion

Front

Observation

Back

What it is:
Businesses watch how customers behave without asking them questions.

How it works:
Researchers observe shoppers in stores or users on websites.

What businesses learn:

• How customers move through stores

• Which products attract attention

• How people actually behave
  

Example:
A store tracks which aisles customers visit most often.

Strengths:

• Shows real behavior

• No customer bias
  

Limitations:

• Cannot explain customer thoughts

• Privacy concerns
  
  

Key word to remember: Behavior

Front

Online Tracking

Back

What it is:
Online tracking collects data from websites and apps.

How it works:
Uses cookies, analytics tools, and click tracking.

What businesses learn:

• Pages visited

• Time spent on a site

• Products viewed but not purchased
  

Example:
An online store tracks which products users click on most.

Strengths:

• Detailed data

• Helps improve websites

Limitations:

• Privacy concerns

• Requires tech tools
  

Key word to remember: Clicks

Front

Social Media Monitoring

Back

What it is:
Businesses analyze what people post, like, share, and comment on social media.

How it works:
Companies use tools to track mentions, hashtags, and trends.

What businesses learn:

• Public opinion

• Brand reputation

• Trending topics
  

Example:
A brand tracks comments about a new product launch on Instagram.

Strengths:

• Real-time feedback

• Large audience
  

Limitations:

• Opinions may be extreme

• Not all customers use social media
  
  

Key word to remember: Trends