Place
What is Place?
Concerned with the area getting the product to the right customer at the right time.
What is Product?
This "P" of the marketing mix involves decisions about design, features, branding, and quality.
What is promotion?
This "P" of the marketing mix involves communicating with customers to inform, persuade, and remind them.
What is price?
This "P" of the marketing mix refers to the amount of money a customer must pay to obtain the product.
What is a distribution channel?
The chain of businesses or intermediaries through which a product passes to reach the consumer.
What is a brand?
This is the name, term, or symbol used to identify a product and differentiate it from competitors.
What is sales promotion?
A short-term incentive to encourage the purchase or sale of a product.
What is penetration pricing?
Setting a low price to attract customers and gain market share quickly.
What are retailers?
These types of retailers buy products from manufacturers or wholesalers and sell directly to consumers.
What is the product mix?
The complete set of all products a company offers.
What is advertising?
This type of promotion includes paid messages through TV, radio, print, or digital platforms.
What is psychological pricing?
The practice of pricing products just below a round number
What is intensive distribution?
A strategy where a company sells its product through many retail outlets to maximize availability.
What is the product life cycle?
The progression of a product through introduction, growth, maturity, and decline.
What is public relations (PR)?
This promotional method involves building relationships and goodwill through non-paid media coverage.
What is competition-based pricing?
When companies price their products based on the prices charged by competitors.
What is channel strategy?
This term refers to the decision of whether to use direct or indirect distribution, including logistics and channel partners.
What are specialty products?
Products like luxury cars or designer handbags are classified as this type of product due to strong brand loyalty and exclusivity.What are specialty products?
What is a push strategy?
This promotional strategy focuses on targeting channel members like wholesalers and retailers to stock and sell the product, rather than promoting directly to consumers.
What is price skimming?
A pricing strategy that sets a high initial price to "skim" segments willing to pay more before lowering it over time.