Marketing flashcards, generated for you.

Product, Price, Place, Promotion. The four controllable elements a company uses to market its offerings. Example: Apple controls iPhone specs (product), sets premium pricing, distributes via Apple Stores & carriers (place), and runs iconic ads (promotion).

Dividing a market into distinct groups of customers with similar needs, behaviors, or characteristics. Example: Netflix segments by viewing preferences (action fans, documentary fans) to recommend different content and target ads.

A clear statement of benefits a product/service delivers to customers and why it's better than competitors. Example: Dollar Shave Club's value prop: 'Our blades are f***ing great' + low price + convenient delivery vs. Gillette's premium positioning.

The complete experience a customer has with a brand across touchpoints: Awareness → Consideration → Purchase → Retention → Advocacy. Example: Facebook ad (awareness) → website visit (consideration) → checkout (purchase) → email follow-up (retention).

How a brand is perceived in customers' minds relative to competitors. Example: BMW positions as 'The Ultimate Driving Machine' (performance/luxury), while Toyota positions Camry as reliable & affordable family transportation.

The value added to a product by its brand name; what customers will pay extra for due to brand loyalty and perceived quality. Example: A Nike shoe costs more than an identical unbranded shoe because customers perceive higher quality and status.

Segmentation, Targeting, Positioning. Identify market segments, select which to pursue, then define how your brand will be perceived. Example: Spotify segments by age/music taste, targets Gen Z, positions as 'Music For Everyone' vs. Apple Music's premium content angle.

Total marketing spending divided by new customers acquired in a period. Formula: CAC = Total Marketing Spend / Number of New Customers. Example: If you spend $10,000 on Facebook ads and gain 100 customers, CAC = $100 per customer.

A model showing how prospects move through stages: Awareness (top) → Interest → Consideration → Conversion (bottom). Each stage has more qualified prospects. Example: 10,000 see an ad (awareness), 500 click (interest), 100 compare (consideration), 10 buy (conversion).

Total profit a company expects from a customer over their entire relationship. Formula: CLV = (Average Transaction Value × Purchase Frequency) - Cost to Serve. Example: A Costco member spending $200/month for 10 years = $24,000 CLV; compare to CAC to determine profitability.