{ "@context": "https://schema.org", "@type": "Organization", "name": "Brainscape", "url": "https://www.brainscape.com/", "logo": "https://www.brainscape.com/pks/images/cms/public-views/shared/Brainscape-logo-c4e172b280b4616f7fda.svg", "sameAs": [ "https://www.facebook.com/Brainscape", "https://x.com/brainscape", "https://www.linkedin.com/company/brainscape", "https://www.instagram.com/brainscape/", "https://www.tiktok.com/@brainscapeu", "https://www.pinterest.com/brainscape/", "https://www.youtube.com/@BrainscapeNY" ], "contactPoint": { "@type": "ContactPoint", "telephone": "(929) 334-4005", "contactType": "customer service", "availableLanguage": ["English"] }, "founder": { "@type": "Person", "name": "Andrew Cohen" }, "description": "Brainscape’s spaced repetition system is proven to DOUBLE learning results! Find, make, and study flashcards online or in our mobile app. Serious learners only.", "address": { "@type": "PostalAddress", "streetAddress": "159 W 25th St, Ste 517", "addressLocality": "New York", "addressRegion": "NY", "postalCode": "10001", "addressCountry": "USA" } }

Definitions Flashcards

(15 cards)

1
Q

Define ‘marketing’.

A

Marketing is the management process responsible for identifying, anticipating and satisfying customer
requirements profitably. (CIM Definition)

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2
Q

What is the marketing mix?

A

The factors that can be controlled and changed in order to influence customers to buy your business’ product/service.

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3
Q

What is the Ansoff Matrix, and what are its four quadrants?

A

A framework to help executives, senior managers and marketers devise strategies for future growth. The quadrants are Market Penetration, Market Development, Product Development, and Diversification.

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4
Q

What is market penetration?

A

A focus on increasing sales of an existing product in an existing market.

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5
Q

What is market development?

A

A focus on selling an existing product in a new market.

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6
Q

What is product development?

A

A focus on selling a new product in an existing market.

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7
Q

What is diversification?

A

A focus on selling a new product in a new market.

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8
Q

Define ‘branding’.

A

Any name, design, style, words or symbols, singly or in any combination that distinguish one product from another in the eyes of the customer.

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9
Q

Define ‘DMP’.

A

Decision Making Process; the process by which a consumer/buyer arrives at the decision to buy (or not buy) a business’ offering.

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10
Q

Define ‘DMU’.

A

Decision Making Unit; the team/collection of individuals involved in making a purchase decision.

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11
Q

Define segmentation.

A

The act of dividing the market into specific groups of consumers who share common needs, and who might require separate products and marketing mixes.

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12
Q

Define targeting.

A

The process of evaluating each market segment’s attractiveness and selecting one or more segments to enter.

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13
Q

Define positioning.

A

The process of creating an image in the minds of the target market relative to competitor products/services.

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14
Q

Define ‘persona’.

A

A summary of the characteristics, needs, motivations, environment and behaviour of typical distinct audience types.

OR

A fictional character that communicates the primary characteristics of a group of users, identified and selected as a key target through use of segmentation data, across the company in a usable and effective manner.

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15
Q

Define PESTELE/STEEPLE.

A

A framework for evaluating the macro environment of an organisation.
Political
Economic
Social/Cultural
Technological
Environmental
Legal
Ethical

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