4 Ps
What are the 4 P's?
Product, Price, Place, Promotion
Give me one example of a company that provides a product and one company that provides a service?
DOUBLE JEOPARDY: What is a company that provides both?
Answers may vary.
What does SWOT stand for?
Strengths, Weaknesses, Opportunities, Threats
What is it called when you partner with multiple people to own a business?
Partnership
Who is the demographic for Facebook marketers?
People aged 30+
Uber and GrubHub are examples of
_______-based organizations, rather then product-based.
SERVICE
Which of the 4 P's is about where companies and organizations interact with customers?
Place
What is one group that always works as a Threat to a company?
Competition
What is it called when you partner with a larger corporation to open a branch, such as a Burger King?
Franchise
What is one type of company who would advertise on TikTok and WHY?
many answers, but anyone with short video content.
Which of the 4 P's involves communicating messages to consumers?
Promotion
Why is it important to not price items:
- Too High?
- Too Low?
Maximize profits.
- Too high: no one will buy.
- Too low: You won't make money.
Which parts of the SWOT are internal factors and which are extrenal?
INTERNAL - Strength / Weakness
EXTERNAL - Opportunities / Threats
Explain to me one advantage of a sole proprietorship?
100% of profits, all decision making, more options
What is a social media manager?
The person who is responsible for running social media accounts for a company?
Channel Management is another name for which of the 4 P's?
What are three places for Adidas?
Retail stores, outlet malls, ONLINE, their app, more acceptable answers...
What would be an example of a Strength for AMC Movie Theatres?
Comfortable Seats, New Movies, Big Screen/Nice Speakers, good food, etc.
Explain to one disadvantage of a franchise?
high start up costs, no flexibility, give up some profits on back end
What is called when a business makes more money than it loses?
Profit
Explain the 4 P's for me using Toyota as an example.
Answers may vary
Explain the 4 P's using WAWA as an example.
Answers may vary.
Conduct a SWOT analysis for Gatorade
Answers may vary
Stock holders, executives, employees
Why is social media advertising more valuable than billboards or TV?
It is very focused/targeted and easily trackable.