The Marketing Mix
This term describes the combination of factors a company uses to influence consumers to buy its products.
The Marketing Mix
This determines how much customers pay for a product or service.
Price
This is the focus on how a product gets from the manufacturer to the customer and strategic planning.
Place
This goal of promotion focuses on letting your target audience know your brand exists.
Build Awareness
This refers to the item or service a company offers to meet consumer needs or wants.
Product
The marketing mix is often called this catchy phrase, made up of four key elements starting with the same letter.
The 4 P's
This term describes a company’s approach to setting the cost of its product to achieve business goals, like maximizing profit, increasing market share, or matching customer expectations.
Pricing Strategy
An electronics company sells its products online, in big-box stores, and through specialty retailers to reach as many customers as possible. Which key aspect of Place does this illustrate?
Distribution Channels
When planning a promotion, marketers must first identify this about the people they want to reach to effectively build awareness.
Target Market
How many levels of a product are there?
3
A strong marketing mix helps a company reach this specific group of people most likely to buy their product.
The Target Market
This pricing strategy sets a high initial price for a new product to attract customers willing to pay more, often before lowering it later.
Skimming
True or False - the question "Where do your ideal customers go to find information about your industry?" can be answered by using place strategies?
True
This goal of promotion encourages your audience to take action, such as clicking a button, making a purchase, or signing up for an offer.
Make them Take Action
The most basic level of a product that answers the question, “What need or want does this satisfy?”
Core Level
Functionality, Brand, Packaging and services related to which P?
Product
A café charges slightly less than nearby coffee shops to attract more customers. What pricing strategy is this?
Penetration Pricing
When deciding where to open new stores, a company uses this strategy to make sure locations are accessible to their target customers.
Location Strategy
This promotion goal encourages people to feel that your product meets their needs and motivates them to want it.
Create Product/Service Demand
This level of the product includes extra benefits such as warranties, delivery, or customer service.
Augmented
Sales Force, Publicity, and advertising are all aspects of which P?
Promotion
A video game company sells a console together with two popular games for one lower price than buying them separately. What pricing strategy is this?
Bundle
This aspect of Place considers how easy it is for customers to buy a product, such as store hours, delivery options, or online checkout.
Convenience for the customer and Location Strategy
A sneaker company launches a new shoe. They post eye-catching videos on social media to get people curious, highlight why their shoes are unique compared to competitors, and include a “Shop Now” button for easy purchase. Which three goals of promotion are they using in this campaign?
make people interested, create demand, and make them take action
What is the more subjective term that consumers purchase when they buy a product or service