Marketing Mix
What are the 4 Ps?
Product, Price, Place, Promotion
What are the seven functions?
Product/Service Management, Pricing, Promotion, Channel Distribution, Marketing-Information Management, Selling, and Market Planning
Ryan is working with his marketing team to set goals and create a budget for the upcoming year. Which marketing function is Ryan performing?
Market Planning
Taste the rainbow.
Skittles
What is considered the "5th" P of marketing that helps businesses identify and better understand their ideal customers?
People
Gathering, accessing, synthesizing, evaluating, and disseminating data for use in making business decisions is the responsibility of
Marketing-Information Management
An online clothing retailer offers customization options, allowing customers to choose fabric, design, and size. Which of the 4 Ps is the focus of this strategy?
Product
Are you in good hands?
Allstate
Which of the 4 Ps determines what packaging will look like and how customers will experience what you're selling?
Product
In what marketing activity do businesses determine the business’s image or brand?
Product/Service Management
A high-end jewelry brand sponsors a prestigious fashion event to enhance its brand image and target a more upscale clientele. What element of marketing is the focus of this strategy?
Promotion
Get your own box.
Cheez-It
A fast-food chain decides to expand its presence by opening new outlets in strategic locations within urban areas. Which of the 4 Ps is the focus of this strategy?
Place
The marketing function which involves the matching and satisfying of customer wants and needs with available goods or services is
Selling
McDonalds conducts extensive research to determine the most cost effective way to transport their products. This is which component of the marketing mix (4 Ps)?
Place (distribution)
Which global company allows workers to bring their dogs to work with them?
Amazon
Which of the 4 Ps is the most important?
None! They are all equally important!
Making both buyers and sellers feel they are getting good value is part of the ________ function of marketing.
A novelty store owner ordered 500 Freddy Kreuger masks to sell during the Halloween season because they sold out early last year. This year, only 50 sold, and the owner was left with a large surplus. Which marketing function could have been used to prevent this situation?
Marketing-Information Management
Which fast food chain has the most locations around the world?
Subway