Product
The good or service you're offering to customers.
What is Product?
Where and how your products are available to customers.
What is Place?
Strategies to communicate your value to customers.
What is promotion?
What will you charge for your product or service
What is Price?
When businesses try to attract the same customers.
Ensures the product arrives in perfect condition, makes it easy to use, and uses eco-friendly material.
What is Product Packaging?
Defines how a product gets from the manufacturer to the end consumer.
What is Distribution Strategy?
The model that speaks about the action, desire, interest, and attention.
What is the AIDA model?
Matching or slightly undercutting competitor prices
What is competitive based pricing?
What are the two types of competition?
What is direct and indirect?
These are basic inputs used in manufacturing processes, such as timber, steel, or chemicals.
What is Raw Materials? (Industrial Products)
Utilizing intermediaries like wholesalers, retailers, or distributors to reach customers.
What is Indirect Distribution?
This promotion focuses on creating an image of the organization
What is institutional promotion?
Priced significantly below the competitor’s price but slowly increases over time.
What is penetration pricing?
Knowing your target market helps you ______ better.
What is sell?
Lululemon is this type of product
What is Specialty Products?
Stores, websites, and apps are considered what.
What is Retail and Online Channels?
Ads are designed to keep the product or company visible to the public.
What is Reminder Advertising?
Selected products are sold at cost to attract customers to make other purchases.
What is a loss leader?
Communicates the same message to all potential customers
What is Non Personal Promotion?
A visual or conceptual tool used to map out the aspects of the product.
What is Product Web?
Stay informed of emerging trends and technologies in distribution and adapt your strategies accordingly.
What is Adaptability and Innovation?
Communications initiated within the company for the purpose of image building
What is proactive public relations?
Track sales, analyze competitors, and evaluate customer feedback to optimize performance and stay competitive.
What is Monitoring and Adapting Pricing?
A specific group of people that are most likely to buy your product or service.
What is Target Market?