4 P's
What are the 4 P's of marketing?
What is . . Product, price, place, promotion
This happens to price as demand decreases.
What is . . price also decreases
The combination of products lines offered by a manufacture.
What is . . Product mix
This happens to price as demand increases?
What is . . Price also increases
A group of products that are physically similar or are intended for a similar market.
What is . . Product line
Advertising would fall under which of the four P's?
What is . . Promotion
People that a business wants to sell to
What is . . Target Market
The creation of real or perceived product differences.
What is . . Product differentiation
The people who produce and sell goods and services
What is . . Producers
Pricing goods and services at price points that make the product appear less expensive than it is.
What is . . Psychological pricing
Options for this “P” include Value-based, Cost- plus, going-rate, and loss-Leader.
What is . . Price
When a customer purchases products from one brand over another
What is . . Brand loyalty
Those products that the consumer buys only after comparing value, quality and price, and style from a variety of sellers.
What is . . Shopping goods and services
Buyers, need or want goods or services
What is . . Consumers
If a brand has high loyalty, name awareness, perceived Quality, strong brand associations, and channel relationships, the brand is said to have high...
What is . . Brand Equity
Options for this “P” include retail or direct sales
What is . . Place
The activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large
What is . . Marketing
Communicating directly with potential customers to determine and satisfy their needs.
What is . . Selling
Not enough goods or services are available
What is . . Scarcity
True/False The following factors are used by marketers to position a product or business. Feature/benefits
What is . . True
This “P” involves the quality, features, options, Services, Warranties, and brand name in addition to the thing actually being purchased.
What is . . Product
What does SWOT stand for?
What is . . Strengths, Weakness, Opportunities, and Threats
Grouping two or more products together and pricing them as a unit.
What is . . Bundling
Resources that are supplied by nature
What is . . Natural Resource
The pricing Strategy in which prices are set lower to actual price to trigger short term sales is classified as
What is . . Promotional pricing