by hiaja | Aug 22, 2022 | What is Marketing
10. What is a target market? Why is it important to have a clearly defined target market? A target market is a group of people that have been identified as the most likely potential customers for a product because of their shared characteristics such as age, income,...
by hiaja | Aug 22, 2022 | What is Marketing
09. What does it mean for a firm to have a competitive advantage? What gives a firm competitive advantage? Competitive advantage refers to factors that allow a company to produce goods or services better or more cheaply than its rivals. These factors allow the...
by hiaja | Aug 22, 2022 | What is Marketing
08. What are the four elements of the Marketing Mix? Who came up with this concept? The Marketing Mix (aka the 4Ps):ProductPlacePricePromotion The 4 Ps, in its modern form, was first proposed in 1960 by E. Jerome...
by hiaja | Aug 22, 2022 | What is Marketing
07. What is meant by resonance marketing? Resonance Marketing is a strategy for developing loyal customers by expressing the core values your business represents and engaging your audience in a mutually rewarding...
by hiaja | Aug 22, 2022 | What is Marketing
06. What is meant by relationship marketing? Marketers are not interested in one sale, we are interested in repeat purchases – this is where the profit...
by hiaja | Aug 22, 2022 | What is Marketing
05. What is a touchpoint? A touchpoint is any point of interaction with a customer or potential customer at any stage of the customer journey. awareness, consideration, decision, action, and...
