The Fast Game Be someone’s hero!

Rules A definition or question will be posted on the board. Provide the correct definition/answer and win You can only answer once; everyone must answer To answer raise your hand… and wait to be called upon.

First – Study Guide for Test Matching Market Segmentation Utilities PEST (Environmental Scan) Multiple Choice Apply terms from chapters 1 & 2 Completion Determine the Marketing Mix/Target Market Short Answer Benefits of Marketing SWOT

Round 1 The projection of probable future sales in units or dollars Sales forecast Use of a single marketing plan to reach all customers Mass marketing A formal written document communicating the goals, objectives, and strategies of a company Marketing plan The money left over after taxes are taken out of a consumer’s income Disposable Income Segmentation based on where people live Geographics

Round II Identification of target markets and determination of marketing mix choices that focus on those markets Marketing strategy The process of analyzing and classifying customers in a given market to create smaller, more precise markets Market segmentation An analysis of outside influences that may impact an organization Environmental Scan Studies of consumers based on social & psychological characteristics Psychographics

Round C Statistics that describe a population in terms of personal characteristics such as age, gender, income, etc. Demographics An assessment of a company’s strengths & weaknesses and the opportunities & threats that surround it. SWOT analysis The money left over from a consumer’s income after paying for basic living necessities Discretionary income PEST stands for this… External Factors – Political, Economic, Socio-Cultural, Tech

Round FOUR Why does marketing help lower the price of goods? Increases demand: Allows company to produce more Allows company to sell at a lower price per unit Increases competition Increased competition requires the competitors to sell their product at a lower price to entice customers. How is a SWOT analysis helpful to a company? Encourages company to take a look at their strengths, weaknesses, opportunities, and threats and create a plan for continued success.

Last Round Name the 5 Utilities… Form, Place, Possession, Time, Information If you buy lunch for your friend, your friend is the (consumer or customer)? Consumer You are the ????? Customer Name the 4 P’s of the Marketing Mix Product, Price, Place, Promotion What is a target market? Group of people who are most likely to be customers