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The Marketing Plan Chapter 2 (Pages 26- 32, 37-41)
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JEOPARDY Geographics, Demographics, Psychographics Name the three methods used to segment a market.
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JEOPARDY WWWWhat is our market share? WWWWhat advantages do we have? AAAAre competitors taking our business? Name a question you might want to ask when evaluating your competitive positioning in a SWOT analysis
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JEOPARDY Baby Boomers This generation currently controls the majority of the US wealth and is now approaching retirement age.
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JEOPARDY Gender, Income, Marital Status, Ethnic Background, Education, and Occupation Aside from age, name four types of general data that is collected when surveying a market’s demographics
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JEOPARDY Disposable Income All the money left after paying taxes
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JEOPARDY Competitors Aside from the various Environmental Scans, what else should you evaluate as part of your external scan in a SWOT analysis
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JEOPARDY New York and Chicago Name the two US cities that have the highest concentrations of African Americans
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JEOPARDY Demographics ______________ are statistics that describe a population in terms of personal characteristics
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JEOPARDY SSSStaff (Employee) Related Questions FFFFinancial Questions PPPProduction Capability Questions Aside from questions about the marketing mix, name a type of question you might want to ask regarding your own company in a SWOT analysis.
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JEOPARDY Generation X This generation has been bombarded with media from an early age and tends to very skeptical and savvy.
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JEOPARDY Psychographics This type of market segmentation involves the study of a market based on lifestyle, and the attitudes and values that shape it.
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JEOPARDY California and Florida Name the two US states that have the largest number of elderly people
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JEOPARDY Millennials This generation grew up in a technology/computer age; can process information very quickly; and can at times become inattentive if something does not maintain their interest.
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JEOPARDY Getting married older Divorcing more Living longer (widowers) Remarrying less Name 3 of the 4 reasons for the decline in the percent of married couples
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JEOPARDY Discretionary Income The money left after paying taxes, basic living necessities, such as food, shelter, and clothing.
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JEOPARDY Generation X What term is used to describe people born between 1965 and 1974?
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JEOPARDY Caucasians What ethnic group makes up 71 percent of the U.S. population, but its percent of the population is projected to decline?
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JEOPARDY Disposable Income Would Farmlands Dairy (a producer of milk) be more focused on the disposable income or discretionary income of their target market?
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JEOPARDY C Company ustomers ompetitive positioning What are the 3 C’s that comprise the internal scan of a SWOT analysis?
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JEOPARDY Emphasis on health/exercise Desire for more leisure time Desire to have more than the prior generation Name two of three lifestyle trends currently happening in the US.
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JEOPARDY African Americans What ethnic group makes up 12 percent of the U.S. population, is not projected to increase its share of the US population, and spends about $400 billion annually?
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JEOPARDY B. 50% (down from 80% in the 1950’s) Married couples account for about what percent of total households in the U.S. today? A. 30%C. 60% B. 50%D. 80%
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JEOPARDY Asian Americans What ethnic group makes up 4 percent of the U.S. population and is projected to grow to 6 percent by 2025?
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JEOPARDY WWWWho is target market? WWWWhat are buying habits? HHHHow satisfied are our customers? Name a question you might want to ask regarding your customers in a SWOT analysis.
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JEOPARDY Hispanics What ethnic group makes up 12 percent of the U.S. population and is projected to grow to 18 percent by 2025?
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JEOPARDY The Baby Boom Generation What term is used to describe people born between 1946 and 1964?
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JEOPARDY BET TV, Telemundo TV, SinoVision Spanish radio stations, Korean radio stations, Black Enterprise Magazine, El Dario newspaper Name three media outlets that target specific ethnic groups?
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JEOPARDY Internal looks at factors within the company, while external looks outside the company When doing a SWOT, what is the difference between an internal and an external scan?
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JEOPARDY B. 25% Married couples with children account for about what percent of total households in the U.S. today? A. 15%C. 35% B. 25%D. 50%
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JEOPARDY Upscaling That desire to have a better quality of life than the prior generation is known as:_____________
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JEOPARDY Geographics This refers to the segmentation of a market based on where people live.
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JEOPARDY Local, regional and national Aside from global, name 3 other levels of geographic segmentation.
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JEOPARDY Los Angeles, New York, Miami, Chicago, and Houston Name two of the five US cities that have the highest concentrations of Hispanics/Latinos
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JEOPARDY Psychographic Data (Scouting Enthusiasts) The New Jersey Nets send a mailing to all Boy/Girl Scout leaders inviting them to purchase a group sales package for their troop to an upcoming “Scout Night At The Nets.” This mailing list was developed by the Nets based on what type of market segmentation data?
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JEOPARDY Demographic Date (Age) Insurance advertises its life insurance products in AARP Magazine, a magazine targeted to the elderly/retired individuals. What is the basis of their market segmentation?
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JEOPARDY Many businesses find that 20% of their customers generate 80% of their sales Many businesses find that 20% of their customers generate 80% of their sales What is the 80/20 Rule?
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JEOPARDY Mass Marketing What type of marketing plan involves a single marketing plan to reach all customers?
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JEOPARDY Millennials (Gen Y) What term is used to describe people born between 1975 and 1997?
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JEOPARDY Market Segmentation (or Niche marketing) Using different marketing strategies based on demographics, psychographics, and geographics
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JEOPARDY Can a point such as level of customer satisfaction be a strength for one company and a weakness for another company? Yes!
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Let’s Play Final Jeopardy
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JEOPARDY What is an Environmental Scan? Name the 4 types of Environmental Scans and provide an example of each.
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JEOPARDY Answer Environmental Scan – Outside influences that could impact company Political Influences (change in laws) Economic Influences (recession) Socio-Cultural Influences (obesity) Technological Influences (digital photography)
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