unit 4-marketing and promotions

what are the 5 P’s of marketing?

people

place

product

price

promotion

what is the newest P of marketing +why

people because we run everything

what are the most effective forms of marketing channels? (2)

email

tv

what is the smallest number between income, disposable income( what’s left after paying taxes), and discretionary income (the leftover money after paying for basic living expenses)?

discretionary income

what is an example of a campaign based off of demographics?

the Maybelline “Shades of You” campaign- for black history month/ african-american women

what does AIDA stand for?

a-attract attention

i-interest

d-desire

a-action

what is the goal of marketing?

to reach the target audience

what are the five parts of promotion+examples

advertising- commercials

personal selling-cars

public relations-smile cookies

direct marketing-coupons

sales promotion-samples

what is marketing?

the idea that a business should meet customers needs+wants while still making a profit

what are the five parts of market segmentation? give definition of each

demographics- certain characteristics

geographics-where people live

psychographics- interests/ values/ how you think example: trends

behaviour/ product benefits- needs/wants example: shampoo for curly hair vs. straight hair

=customer profile

what are four points that stuck out to me from the Science of Persuasion video?

people want what they can have LESS of

when a waiter turned back, gave a compliment+a mint, tips shot up 23%

people look at behaviours of others to determine their own

if you find things in common, you'll be more successful

why is oprah a success?

she created a nation of readers

what are some of the companies oprah has helped?

LAFCO

Carols daughter

we take the cake

what is the biggest challenge that businesses of the future will face?

finding spaces to advertise

what are naming rights+ give an example

companies buy the rights to a public space+ name it after themselves- Levi’s stadium

ambient advertising+example

ads in public spaces- ads on buses/ bathroom stalls

space advertising +example

ads in space- Pizza Hut rocket

digital/virtual advertising +example

add products when they weren't there originally- baseboards at NHL game

stealth endorsers+example

pay celebs to wear clothes/shoes nonchalantly- Drake wearing streetwear with a company logo

targeted advertising+example

tracking consumers to show certain ads-cookies

cross merchandising+ example

2 related products next to each other-ice cream+ ice cream cones

product placement+ example

showing products in tv/movies- Chevy in the Barbie movie

how have promotional strategies changed with consumers?

changes are being made because of demographics, lifestyle, media use, and buying/shopping patterns

how have promotional strategies changed with technology?

the internet is affecting more traditional media choices

how have promotional strategies changed with the media?

shifting to other strategies like internet direct marketing/sales promotion

what are the 6 parts to the science of Persuasion?

reciprocity

scarcity

authority

consistency

liking

consensus

Why does the government want to make cigarette packaging ugly

discourage people from smoking

where is plastic a big problem +why?

in the oceans because that’s where the plastic collects

they only break down into micro plastics, not completely