marketing leap exam

What is marketing?

The process of planning, pricing, promoting, and distributing goods/services to satisfy needs.

What are the 4Ps of Marketing?

Product, Price, Place, Promotion.

Why is marketing important?

It connects businesses to customers, drives growth, and satisfies customer needs.

What is the Production Era in marketing?

Focused on mass production and efficiency.

What is the Sales Era?

Focused on aggressive selling techniques.

What is the Marketing Concept Era?

Focused on customer satisfaction.

What is the Societal Marketing Era?

Focuses on ethics and sustainability.

What are the 4 types of markets?

Consumer, Business, Government, International.

What is market segmentation?

Dividing a market into smaller groups with common needs.

What does STP stand for in marketing?

Segmentation, Targeting, Positioning.

What is positioning?

Creating a unique image of a product in the consumer’s mind.

What are the factors affecting consumer behavior?

Cultural, Social, Personal, Psychological.

What are the 5 steps of marketing research?

Define problem, plan research, collect data, analyze data, present findings.

What are the 3 product levels?

Core, Actual, Augmented.

What are the 4 product life cycle stages?

Introduction, Growth, Maturity, Decline.

What are 3 common pricing strategies?

Cost-based, Value-based, Competition-based.

What are the 2 types of distribution channels?

Direct and Indirect.

Who are the channel members?

Wholesalers, Retailers, Agents.

What is logistics?

Managing the movement and storage of goods.

What are the 5 tools of the Promotional Mix?

Advertising, Sales Promotion, PR, Personal Selling, Direct Marketing.

What does IMC stand for?

Integrated Marketing Communications.

What is e-marketing?

Using digital platforms to promote products/services.

Give examples of digital marketing tools.

Social media, SEO, Email, E-commerce platforms.

What is ethical marketing?

Marketing practices that are honest, fair, and responsible.

What are the parts of a marketing plan?

Executive Summary, SWOT, Objectives, Strategies, Implementation, Evaluation.

What is the difference between standardization and localization in global marketing?

Standardization uses one approach globally; localization adapts to local cultures.