Marketing Final Exam Review 2

Developing, promoting, and distributing products to satisfy the wants and needs of a customer

• Goods
• Services
• Marketing
• Tangible

This tells you who your customer is by providing statistical information about their age, gender, location, education level, income level, etc

• demographics

• psychographics

• geographics

• target marketing

This tells you ‘why’ your customer buys something by providing information about their habits, hobbies, attitudes, beliefs, values, etc.

• Demographics

• Psychographics

• Geographics

• Target marketing

What is the purpose of performing a SWOT Analysis?

• Identifies internal and external factors that may affect the business future performance.

• Access a organisations performance

• Evaluates whether the business venture is a good idea.

• Gives the management team a broader view on the potential opportunity

The S in SWOT Analysis stands for:

• Super

• Supreme

• Strengths

• Support

The W in SWOT Analysis stands for:

• Weaknesses

• Willingness

• Want

• Wellness

The O in SWOT Analysis stands for:

• Outcome

• Outstanding

• Optimize

• Opportunities

The T in SWOT Analysis stands for:

• Thanks

• Tip

• Threats

• Treaties

In a SWOT analysis, the two external factors not in a business’ control are

• Target Market and Opportunity

• Strengths and Weaknesses

• Opportunities and Threats

• Marketing Mix and Weaknesses

In a SWOT analysis, the two internal factors that are in a business’ control are

• Strengths and Weaknesses

• Opportunities and Threats

• Target Market and Opportunities

• Marketing Mix and Threats