The Marketing Mix
Coke, Diet Coke, Cherry Coke, and Coke Zero all fall under this "P" in the Marketing Mix.
What is Product?
This is deciding where products need to be sold in order to reach the customer.
What is a purchase order?
This consists of consumers who purchase goods and services for personal use.
What is Consumer Market?
Cougar Corner uses this type of pricing strategy.
What is Cost Plus pricing?
This "P" refers to what is exchanged for products and services.
What is Price?
This includes decisions about using things like Venmo, CashApp and PayPal to run a business.
What is the Finance Function?
This document lists the company name, date, items purchased, amount of purchase, amount of sales tax, and what method was used for payment.
What is a sales receipt?
When a customer purchases products from one brand over another.
What is brand loyalty?
What happens to the price of something as demand increases?
What is increase?
Many companies include social media in this mix.
What is Promotion?
This includes modifying packaging colors on an existing product.
What is Product/Service Management?
This document serves as road map for anyone wanting to start a business.
What is a business plan?
This group shares common needs and wants/
What are customers?
Companies that similar products are all part of the same _______.
What is market share?
This is a percentage of the total sales volume generated by all companies that compete in a given market.
What is Market Share?
This term is used when a company gains fame overnight.
What is going viral?
SWOT stands for?
What is strengths, weaknesses, opportunities, and threats.
Purchasing name brand items, eating out multiple times a week, and using a delivery service for groceries is analyzing this segment of your target market.
What are buying behaviors?
How much a consumer is willing to pay for a product helps determine this.
What is value?
This "P" is the means of getting the product into the customers hands, as well as what stock levels are most effective.
What is Place?
A company sales team is an example of this function of marketing.
What is distribution?
By law, a buyer cannot hold a seller to a quoted price for more than this amount of days.
What is 90 days?
Breaking down your target market into smaller sections is called this?
What is Market Segmentation?
Companies use this market strategy to drive customers away from the competition.
What is market penetration?