Terms
The _____ ___ is the strategy or set of actions a company uses to market its product or brand.
Marketing Mix
Promotion is the _____ element of the marketing mix.
communication
Pricing strategies should reflect what customers are ___ and ___ to pay.
willing and able
The element of the marketing mix that refers to distributing products to make sure they get into the hands of the customers at the right place and right time.
Place
This element of the extended marketing mix is about ____ who make contact with customers in delivering the product
People
Marketing professionals use the elements of the marketing mix to communicate with and reach their intended ____ ____.
target markets
The goal of promotion is to create a _____ _____ from the customer.
(e.g. customers buy the product)
positive response
The price is the amount of ____ exchanged for the product.
money
This is the elements of the physical environment the customer experiences.
physical
This P of the extended marketing mix are the systems and processes that deliver a product to a customer
Process
How many "P's" are used in the traditional marketing mix?
4
Promotion helps communicate the products’ ____ and how the product will benefit customers
value
This is what you’re offering to the market. (It can be a good, service, idea, event, person, etc)
Product
The layout and design of a premises (including ambience and ease of movement) are elements of which P in the extended marketing mix?
physical
Customer service and relationship management skills & experience are valued in this element of the extended marketing mix
People
There are 7 P's in _____ marketing mix.
extended
_____ selling, advertising, public relations (publicity), and sales promotion are all forms of promotion
Personal
If the customer sees the product as the best ____, marketers have succeeded at product development.
solution
The goal of distribution (part of Place) is to create ____ and make it easier for the customer to obtain your product
convenience
A business's transaction process, website design, and operational support are all a part of this element of the extended marketing mix
Process
Goods that are used up by consumers. (e.g. food, cake)
Consumer goods
Promotion includes all communication types that marketers use to _____, persuade, or remind customers of their products.
inform
In pricing, the goal is to strike the right balance between the customer’s perception of ____ and meet the company’s _____.
value - objectives
Marketers must make decisions about where to sell products, how to transport products, and what ___ __ ______ to keep on hand
levels of inventory
One of the most important questions marketers must ask to be successful at promotion is "How will we _______ if our promotional messages were effective?"
evaluate