Term
| What is the purpose of a marketing plan? |
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Definition
| It defines how to best achieve the company’s objectives. |
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Term
| What does SWOT stand for? |
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Definition
| Strengths, Weaknesses, Opportunities, and Threats. |
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Term
| Why are objectives important? |
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Definition
| They ensure the goals are clearly defined and measurable. |
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Term
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Definition
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Term
| Why set measurable goals? |
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Definition
| They enable companies to track progress and evaluate success. |
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Term
| What is the purpose of a mission statement? |
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Definition
| To state the organization’s purpose and direction. |
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Term
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Definition
| A specific action to implement a plan. |
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Term
| What is first-party data? |
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Definition
| Information collected directly from your own customers. |
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Term
| What is marketing research? |
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Definition
| The process of collecting and analyzing information to make marketing decisions. |
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Term
| What is a strategy in marketing? |
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Definition
| A directed course of action to achieve organizational goals. |
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Term
| What are external factors in SWOT? |
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Definition
| Opportunities and threats. |
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Term
| What are the two key axes in the BCG matrix? |
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Definition
| Market growth rate and relative market share. |
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Term
| What are the four BCG categories? |
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Definition
| Stars, question marks, cash cows, and dogs. |
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Term
| What does the Ansoff Matrix analyze? |
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Definition
| New versus existing products and markets. |
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Term
| What is primary research? |
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Definition
| Direct customer feedback and research. |
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Term
| What is competitive intelligence? |
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Definition
| Gathering information on competitors to inform strategy. |
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Term
| Which is not market research? |
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Definition
| Internal employee performance reviews. |
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Term
| What is the first step in the research process? |
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Definition
| Defining the problem and research objectives. |
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Term
| What is qualitative research? |
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Definition
| Research focused on opinions and motivations. |
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Term
| What is not part of the consumer buying process? |
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Definition
| Internal budget meetings. |
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Term
| What is relationship marketing? |
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Definition
| Building long-term customer connections. |
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Term
| What type of decision involves extended consideration? |
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Definition
| A complex buying decision. |
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Term
| Which is not a factor in consumer purchase behavior? |
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Definition
| Quality factors are not a separate category. |
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Term
| What is the consumer decision-making process? |
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Definition
| Steps consumers take before and after purchase. |
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Term
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Definition
| A specific purchase situation a consumer faces. |
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Term
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Definition
| An additional cost imposed on a purchase by a government. |
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Term
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Definition
| A group involved in a business purchase decision. |
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Term
| Which is not part of the business buying process? |
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Definition
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Term
| What is a habitual decision? |
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Definition
| A purchase requiring little effort or thought. |
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Term
| What is a routine purchase? |
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Definition
| A low-involvement, habitual purchase. |
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Term
| Which data is best for spotting customer patterns? |
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Definition
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Term
| Give an example of first-party data. |
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Definition
| Information collected directly from your own customers. |
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Term
| Which data type reveals customer behavior best? |
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Definition
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Term
| What is supplier selection? |
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Definition
| The process of requesting bids or proposals from suppliers. |
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Term
| What is a straight rebuy? |
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Definition
| A repeat purchase with no changes. |
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Term
| Which buying process is fastest? |
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Definition
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Term
| Which sales cycle is longer? |
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Definition
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Term
| What are common B2B marketing tools? |
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Definition
| Trade shows and industry events. |
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Term
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Definition
| Marketing of products or services to other businesses. |
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Term
| Why is content marketing important in B2B? |
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Definition
| It educates and engages business buyers. |
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Term
| What is the main focus of B2B marketing? |
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Definition
| Demonstrating value and ROI. |
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Term
| How important are long-term relationships in B2B? |
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Definition
| Crucial for repeat business. |
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Term
| What distinguishes B2B marketing? |
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Definition
| Multiple decision-makers and longer cycles. |
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Term
| Give an example of B2B marketing. |
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Definition
| A software company selling to a corporation. |
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Term
| Which research type takes longest? |
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Definition
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Term
| What is the first step in marketing research? |
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Definition
| Defining the problem and research objectives. |
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Term
| What are the four P’s of marketing? |
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Definition
| Product, Price, Place, Promotion. |
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Term
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Definition
| Dividing a market into groups with shared characteristics. |
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Term
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Definition
| Selecting which market segments to pursue. |
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Term
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Definition
| Creating a unique place in the customer’s mind. |
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Term
|
Definition
| Making a product distinct from competitors. |
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Term
| What is the marketing mix? |
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Definition
| The combination of the 4 Ps to meet objectives. |
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Term
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Definition
| Key Performance Indicator. |
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Term
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Definition
| They measure progress toward goals. |
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Term
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Definition
| The value a brand adds to a product or service. |
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Term
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Definition
| Unique Selling Proposition. |
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Term
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Definition
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