The 4 P's
What are the four Ps of marketing?
Product, place, promotion, and price
This is the specific group of consumers a company wants to reach with its product.
Target market
Marketing that follows moral principles and promotes honesty, fairness, and responsibility is called this.
Ethical marketing
Which P includes features, design, packaging, quality, and branding?
Product
The name, symbol, or design that identifies a company or product.
Brand
This "P" focuses on what a company offers to satisfy a customer's need or want.
Product
Dividing a larger market into smaller groups based on shared characteristics is called this.
Market Segmentation
An advertisement says a product is "100% guaranteed to cure acne" even though there is no evidence supporting the claim. What ethical issue does this demonstrate?
Misleading advertising
The path a product takes from the producer to the final customer is known as this.
Distribution channel
A visual symbol used to identify a brand.
Logo
A clothing company decides to sell its products online, in Target, and through its own stores. Which "P" is being addressed?
Place
Age, income, gender, education, and occupation fall under which type of segmentation?
Demographic segmentation
A mobile app secretly collects and sells information about its users. What major marketing ethics issue does this raise?
Privacy concerns
A company uses Instagram ads to make customers aware of a new product. Which P is being used?
Promotion
A short, memorable phrase associated with a brand.
Nike releases a new shoe for $180 and promotes it with professional athletes on social media. Name the TWO Ps described.
Price and Promotion
A company targets customers who enjoy fitness, adventure, and spending time outdoors. Which type of segmentation is being used?
Psychographic segmentation
An influencer is paid $10,000 to promote a product but doesn't disclose that the post is sponsored. Explain why this could be considered unethical.
Multiple answers: Might seem genuine rather than paid
A company sells its products through its website instead of a physical store. Is this primarily a physical or digital presence?
Digital presence
The way customers recognize and remember a brand.
Brand awareness
A company has an amazing product and great advertising, but customers can't find the product anywhere they normally shop. Explain what is wrong with its marketing mix.
What payment method is an arrangement by which businesses or individuals can purchase now and pay later?
Credit
A company discovers that an advertisement is increasing sales but customers frequently misunderstand what the product actually does. What ethical decision should the company consider, and why?
The company should consider changing/clarifying the advertisement to accurately represent the product because misleading customers can damage consumer trust and brand integrity.
A new company sells essentially the same water bottle as its competitors but charges three times as much. Sales are extremely low. Which P should the company reconsidered?
Price
When customers repeatedly choose the same brand over competitors.
Brand Loyalty