The 4Ps
Product
What is a brand?
A name, term, design, or symbol that identifies a product.
What is promotion in the 4Ps?
Communicating with customers to encourage purchases.
What is a target market?
A specific group of consumers a business aims to reach.
What is the marketing mix?
A combination of the 4Ps used to market a product.
Which "P" involves decisions on how much to charge?
Price
What is a brand’s slogan meant to do?
Make the brand memorable.
Give one example of sales promotion.
Coupons, discounts, contests, etc.
What are demographics?
Characteristics like age, gender, income, etc.
Which P of the marketing mix involves packaging design?
Product
Which "P" includes how a product gets to the customer?
Place
What is brand loyalty?
When consumers consistently prefer one brand over others.
What is public relations (PR)?
Promoting a brand through media exposure and events.
Why is identifying a target market important?
To focus marketing efforts effectively.
Which P includes where a product is sold (online, retail, etc.)?
Place
Which "P" is about communicating the value of the product?
Promotion
What’s the difference between a brand name and a logo?
Name is text; logo is a symbol or image.
What is the purpose of advertising?
To inform, persuade, and remind consumers.
What are psychographics?
Interests, values, attitudes, and lifestyles.
True or False: Promotion is only advertising.
False
Name all 4 Ps.
Product, Price, Place, Promotion
What is brand equity?
The value of a brand based on consumer perception.
What's the difference between advertising and publicity?
Advertising is paid; publicity is free.
What is market segmentation?
Dividing the market into smaller groups.
What is the main goal of a successful marketing mix?
To satisfy customer needs and business goals.