Marketing and Customer Development Flashcards
6 cards from real Entrepreneurship practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Marketing and Customer Development flashcards as text
What is content marketing?
Answer: Creating and distributing valuable content to attract and engage a target audience
Content marketing involves producing relevant, valuable content—blogs, videos, podcasts—to attract, educate, and retain a defined audience and drive profitable action.
What is search engine optimization (SEO)?
Answer: Optimizing a website to rank higher in organic search engine results
SEO is the practice of improving a website's content, structure, and authority to increase its visibility in unpaid search engine results.
What is customer lifetime value (CLV or LTV)?
Answer: The total revenue a business can expect from a single customer over the entire relationship
Customer lifetime value estimates the total net profit a business generates from a customer throughout the entire duration of the relationship.
What is viral marketing?
Answer: A technique that encourages customers to share marketing messages, growing reach organically
Viral marketing relies on existing customers to spread a message or product recommendation, enabling organic, exponential audience growth at low cost.
What does 'churn rate' measure?
Answer: The percentage of customers who stop doing business with a company in a given period
Churn rate measures the percentage of customers who cancel or stop purchasing during a specific timeframe, indicating customer retention health.
What is the marketing mix (4Ps)?
Answer: Product, Price, Place, Promotion
The 4Ps of marketing—Product, Price, Place, and Promotion—are the core elements entrepreneurs manage to effectively bring a product to market.