Marketing and Strategy Flashcard

Front

What are the Four P's in the marketing mix?

Back

Product, Price, Place, Promotion

Front

Which analysis is also known as Environmental scanning?

Back

PESTLE Analysis

Front

What is the purpose of a SWOT Analysis?

Back

To evaluate strengths, weaknesses, opportunities, and threats

Front

What is a key component of the strategic planning process?

Back

Setting goals or objectives

Front

Which strategy involves being the first to enter a market?

Back

First-mover strategy

Front

What are the two main types of research mentioned in the document?

Back

Exploratory and Conclusive

Front

Which of the following is a method of using technology for research as per the document? Data Mining, Big Data, Cloud Computing, Artificial Intelligence

Back

Big Data

Front

What is one of the segmentation variables used in target market selection?

Back

Demographic

Front

Which of the following is a psychological influence on consumer decision-making? Economic Status, Motivation, Social Class, Cultural Trends

Back

Motivation

Front

What is a tool used for understanding consumer perceptions as mentioned in the document?

Back

Perceptual Maps