1. Which of the Four P’s of Marketing are Active in Biz-Café What is being sold? What is being bought?
Ted Mitchell

2. Your Goal In Biz-Cafe
What is your personal goal(s) beyond the the assigned goal of reaching at least $5,000 in retained earning (cumulative net profit over 16 weeks)
How will you know if you have a achieved it?

3. What is the marketing mix or strategy designed to do?
Create a higher sales revenue (Top line)
Create a higher volume of stuff sold
Create more sales transactions
Create more shoppers and store traffic
Create awareness, interest, desire, etc. among prospective customers
Create customers (turn buyers into satisfied loyal customers)
Create more profitable customers
Retain more of the profitable customers
Create higher gross profits
Create higher profit from marketing activities
Contribute more profit to the bottom line (net profits or earnings)

4. What are the 4Ps of the Marketing Mix?
Profit
Profit is NOT an element in the marketing mix Profit is the goal of the marketing mix!
1) Price Strategy
2) Place Strategy
3) Promotion Strategy
4) Product Strategy

5. What are the Push and Pull Elements of the Marketing Mix?
Pull Strategy is any marketing activity in the four P’s designed to get the customer to pull your product of the shelf
Push Strategy is any marketing activity in the four P’s designed to get the distributors, retailers to push your product onto the store shelves

6. What are the 4 P’s in Biz-Café Price
Price: What are you choosing?
How does it impact sales revenue?
Where do you select it? Management Marketing Operations
Where and When is it reported? Does the report(s) indicate the impact it’s having on sales?

7. Place in the Biz-Cafe What are you choosing?
How does it impact sales revenue?
Where do you select it?
Where is it reported? Does the report(s) indicate the impact it’s having on sales?

8. Promotion in the Biz-Cafe
What are you choosing?
How does it impact sales revenue?
Where do you select it?
Where is it reported? Does the report(s) indicate the impact it’s having on sales?

9. Product in the Biz-Cafe
What are you choosing?
How does it impact sales revenue?
Where do you select it?
Where is it reported? Does the report(s) indicate the impact it’s having on sales?

10. What Product is being Sold? What Product is being Bought?
Engagement Ring
Pair of Running Shoes
Toyota Rav 4 SUV
Power Tool Drills
The key to this separation is in the benefits or solutions being sought

11. What Product is being Sold? What Product is being Bought?
In Biz-Café
1) something warm and tasty
2) something comforting
3) a wake-me-up, a jolt, a buzz, a pick-me-up
4) a quite spot to relax and take a break
5) freshen up, go to the washroom
6) read a book
7) use the internet
8) rendezvous point to meet friends before morning class before an evening out, movies
9) last stop on the way home
to sober up
talk about the evening
hang out with friends
10) “I can afford it” status

12. What are the defining characteristics of a customer?
Definable need and want
The money to satisfy it
The authority to spend it

13. What is a market? A market is customers
A set of customers that have articulated their wants in terms of a set of products that provide satisfactions.
In marketing it is not defined as the set of manufacturers and customers in an arena of competition (Industry)

14. What is a market segment?
A group of customers with a homogeneous set of needs, wants, problems, who respond to a firm’s 4P marketing mix in a similar way with similar intensity.

15. What are some popular and important segmenting dimensions?
Benefits sought
Demographics
Geographical
Psychographics (vals)
Sociological (cultures, reference groups,)

16. What are characteristics of a good market segment?
Homogeneity
Substantiality
Accessibility
Receptivity

17. What makes a segment a good target market?
Potential Growth ( Market Attractiveness)
Potential Market Share
Your firm has the ability to produce, communicate and deliver the desired satisfactions to the targeted more effectively and efficiently than your competitors and can achieve the firm’s desired level of profitability doing so.

18. In Biz-Cafe
What is your Target Market?