Marketing & Attraction

Question 1

Advertising

Answer 1

Any paid form of non-personal mass media presentation of image, goods or services by an identified sponsor.

Question 2

Cost Per Thousand (CPM)

Answer 2

The cost of a single insertion divided by the number of target market members.

Question 3

Direct Mail

Answer 3

A form of advertising in which a message is sent to pre-selected targets.

Question 4

Frequency

Answer 4

The number of times those reached by a marketing technique or message are exposed to it.

Question 5

Geographic Segmentation

Answer 5

Subdividing a market into units such as regions, countries, states, or cities.

Question 6

Image

Answer 6

The sum total of all the perceptions other have about a community or entity.

Question 7

Market

Answer 7

The set of existing and prospective users of a product or service.

Question 8

Market Segment

Answer 8

A distinct or definable subset of a market, also target market.

Question 9

Marketing

Answer 9

The process of analyzing, planning, and executing and controlling messages and programs designed to influence the level, timing, and character of demand in selected target markets for the purpose of achieving an organization’s objectives.

Question 10

Marketing Mix

Answer 10

The combination of different marketing techniques used to reach and influence a target market.

Question 11

News Release

Answer 11

An announcement of community, state, national, or international interest distributed to print media by the organization for which the release is about.

Question 12

Niche

Answer 12

An identifiable market or marketing segment that can be readily and prosperously perpetrated.

Question 13

Personal Selling

Answer 13

A professional market effort involving face-to-face communication and feedback, with the goal of making a sale or inducing a favorable attitude towards a community or company.

Question 14

Promotion

Answer 14

The act of furthering the growth and development of an organization by generating exposure to a target market.

Question 15

Reach

Answer 15

The size of an audience (number of people or organizations) exposed to marketing technique once.

Question 16

Selling

Answer 16

The exchange of goods, services, or ideas between two parties.

Question 17

Social Media

Answer 17

The use of emerging media to communicate interactively with customers.

Question 18

Target Audience

Answer 18

The sector of a total market that an organization has selected to serve, this audience meets the community’s economic development goals and competitive advantages.

Question 19

Target Marketing

Answer 19

Focusing marketing effort on one or more segments within a total market

Question 20

Test Marketing

Answer 20

Selecting one or more markets in which to introduce a new product or service and marketing program to observe and assess performance and what revisions are needed, if any.

Question 21

Trade or Industry Association

Answer 21

An organization established to serve the needs of members of that same industry or trade.

Question 22

Trade Show

Answer 22

A commercial or industrial formal gathering in which sellers at pre-assigned stations present goods or services for possible sale to prospective buyers.

Question 23

Web 2.0

Answer 23

The interactive, integrated and responsive platform of the World Wide Web.

Question 24

Marketing and attraction requires that the ED practitioner

1. know the product
2. know the market
3. know the process

Explain each one a little further.

Answer 24

1. An EDO must have an inventory of the factors that contribute to its comparative and competitive advantage that is updated on a regular basis. This includes community’s assets and strengths, ranging from physical infrastructure to living costs and tax rates.
2. An EDO must identify industries that best fit the community’s economic assets and development goals. They must understand the overall business market, be aware of trends within the specific industries, and third how do they compare to competitors?
3. craft and deliver the community’s marketing message; provide the right information to prospects