Product...
Vocabulary: all the products that a company makes or sells.
Product Mix
How many stages are in the product life cycle?
4
The ____________________ is the idea that businesses should try to satisfy the wants and needs of their customers while also making a profit.
Marketing Concept
_________________ is used to define the target market.
Market segmentation
Which part of the marketing mix focuses on customer convenience?
Place
Vocabulary: A group of closely related products manufactured or sold by a company.
Product Line
The focus of ________________________ is the image that a product projects.
Product positioning
Tangible (you can touch them) items that have value to consumers are called __________________.
Goods
Information based on region, state, and zip code:
Geographics
Which part of the marketing mix focuses on cost?
Place
____________________ refers to the number of different product lines a business manufactures or sells.
Product Width
Which stage of the product life cycle is the least profitable?
Introduction
Haircuts and legal advice are examples of ________________.
Services
Information based on age, gender, income, occupation, or education level:
Demographics
Pricing a new product at a high price in order to make maximum profits due to a short product life span.
Price Skimming
_________________ refers to the number of items offered within each product line.
Product Depth
Big Mac is an example of a _________________.
Brand name
The marketing mix has __________ elements.
4
Information based on personality, opinions, and lifestyle elements:
Psychographics
Pricing method for new product that uses a low price in order to get people to try the product.
Penetration Pricing
The _____________________ represents the stages that a product goes through during its life.
Product life cycle
The gold and red in the McDonald’s sign is an example of ___.
Brand mark
Which is the correct statement?
Wholesalers sell products to retailers who then sell them to the final customers.
Which part of the marketing mix deals with how companies communicate to potential customers?
Promotion
Which of the following is not necessary for a market?
Both are required