Product
What is a “product” in marketing?
What is anything that satisfies a customer’s need or want.
What does “price” represent in marketing?
What is the amount customers pay for a product.
What does “place” mean in marketing?
What is where and how a product is distributed or sold.
What does “promotion” mean in marketing?
What is activities that communicate a product’s value to customers.
What are the 4 Ps of marketing?
Product, Price, Place, Promotion.
What are two types of products?
What is Goods and services.
What is penetration pricing?
What is setting a low price to attract customers and gain market share.
What’s an example of an online distribution channel?
What is Amazon
Name one example of sales promotion.
What is Discounts and coupons.
Why is the marketing mix important?
What is it helps balance decisions to meet customer needs.
What’s one example of product differentiation?
What is Unique design, quality, or features that make a product stand out
What’s an example of premium pricing?
What is setting a high price to show luxury
What’s a benefit of selling in multiple locations?
What is reaching more customers and increasing sales.
What’s the main goal of advertising?
To inform and persuade customers about a product.
What happens if one “P” is weak?
What is the whole marketing strategy can fail.
What is the product lifecycle?
What is the stages of introduction, growth, maturity, and decline.
What does “price elasticity” mean?
What is how sensitive customers are to changes in price.
Why is location strategy important for retail stores?
What is it affects visibility, convenience, and customer traffic.
What’s an example of public relations?
What is a press release or sponsoring a charity event.
Why is product development important for a company?
What is it keeps the brand competitive and attracts new customers.
Why might a business lower prices temporarily?
What is to boost sales during a promotion or beat competitors.
What’s an example of an exclusive distribution strategy?
What is selling luxury brands only at select stores or boutiques.
How can social media help with promotion?
What is tt builds brand awareness and connects directly with customers.