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Marketing

Involves identifying and meeting customer needs through products and services.

4 P's of Marketing

Product, Price, Place, and Promotion are key elements of the marketing mix.

New Product Development Process

Stages include idea generation, screening, business analysis, development, testing, and commercialization.

Branding

Creates identity and loyalty for a product or service.

Product Line Extension

Increasing market share or appealing to different customer segments by extending the product line.

Sales Process Steps

Generate leads, approach customers, determine needs, present product, overcome objections, close sale, follow up.

Advertising Media Types

Includes television, radio, print, direct mail, and outdoor advertising.

Consumer Behavior

Understanding customer needs to create relevant marketing strategies.

Market Segmentation

Divides a market into distinct groups to target marketing strategies effectively.

Promotional Mix

Combines advertising, sales promotion, personal selling, public relations, and direct marketing.

ROI in Advertising

Compares the cost of an ad campaign to the profits generated.

Ethics in Advertising

Focuses on truthfulness, transparency, and fairness in advertising practices.

Self-Regulation in Advertising

Industry groups set standards to ensure ethical advertising practices.

Consumer Purchase Classifications

Categorizes purchases as impulse, routine, or complex.

Advertising Effectiveness Evaluation

Measuring brand awareness, sales figures, customer feedback, and engagement metrics.

Pricing Strategies

Includes price skimming, penetration pricing, competition pricing, and supply and demand.

Advertising Plan Steps

SWOT analysis, set objectives, determine budget, develop strategy, execute plan, evaluate results.

Advertising Media Selection Criteria

Reach, frequency, lead time, and cost effectiveness influence media selection.

Types of Consumer Products

Convenience, shopping, specialty, and unsought goods.

Importance of Interpersonal Communication

Essential for building relationships with consumers and stakeholders.

Diversity in Advertising

Marketers tailor messages to appeal to diverse consumer groups.

Economic Factors in Advertising

Consumer spending, downturns, and disposable income changes impact advertising strategies.

Challenges of Global Marketing

Include regulatory issues, cultural sensitivities, and language differences.

Types of Internet Advertising

Includes email, banner ads, search engine marketing, and social media ads.

Consumer Regulation

Consumers use platforms to voice concerns and regulate businesses.

Advertising Industry Careers

Includes roles such as copywriters, designers, media planners, and account executives.

Advertising Creative Formats

Print ads, TV commercials, online banners, radio jingles, and social media ads.