The Four P Basics
The four Ps.
What are product, price, place, and promotion?
The products that you and I use on a daily basis.
What are consumer goods?
Involves the startup costs to research, manufacture, package, and advertise.
What is Stage 1: introduction?
Establishing an identity to differentiate the product from the competition.
What is branding?
A material or item used to contain, protect, and promote a product.
What is packaging?
Retail price, payment plans, credit terms, and discounts.
What is price?
Tasks performed by others that fill the need of the consumer.
What are consumer services?
Sales and profits begin to decline and businesses must decide whether to support the product or remove it from the market.
What is decline?
A catchy phrase used to remind the consumer of the brand.
What is a slogan?
The 3 reasons why packaging is a necessary evil.
What are containment, protection, convenience?
Retail location, distribution, and delivery.
What is place?
Tasks performed by others to fill the needs of an idustry.
What are industrial services?
Companies may experience profit, but will sacrifice market share to others who start entering the market.
What is growth?
The part of the brand that is a symbol that is usually registered.
What is a logo?
3 examples of packaging aspects.
What are colour, size, label, shape, and brand name?
A group or population with similar characteristics and/or demographics.
What is a target market?
Used to create new products to help with business operations.
What are industrial goods?
The product is no longer relevant and has been taken off the market.
What is withdrawal?
The goal the name, slogan, and logo are trying to accomplish.
The aspects of packaging that deals with the shape and size of the product.
What is form?
The purpose of the marketing mix.
What is a tool that allows companies to promote their product/service more effectively.
Raw flour and paper pulp.
What are industrial goods?
Successful companies earn enough revenue to start making a profit.
What is maturity?
3 types of brands and examples of each one.
What are national, private, and generic? Answers may vary.
The aspect of packaging that deals with how the product is protected and displayed.
What is function?