Product
What is Product
2nd P of Marketing
What is Price
3rd P of Marketing
What is Place
4th P of Marketing
What is Promotion
The importance of the 4P's of Marketing
What is they help companies structure and execute a comprehensive marketing strategy by addressing product, price, place, and promotion
An example of a product in the sport industry
What is Sports apparel, equipment, team merchandise, or ticket sales.
An example of a pricing strategy a sports team could use to sell tickets during off-peak games
What is discounted or value-based pricing to fill seats during less popular games.
Why Distribution is important for a sports apparel brand
What is ensuring products are available in the right locations (physical stores, online platforms) helps the brand reach its target audience and boosts sales
Two promotional strategies sports brands use to engage fans
What is social media campaigns and sponsoring athletes or teams
The purpose of the Marketing Mix (4Ps)
What is to ensure a company’s product reaches its target audience effectively by balancing all elements of the 4 Ps
How Products features differ from product benefits
What is features describe what the product is or does (e.g., waterproof), while benefits explain how it helps the consumer (e.g., keeps you dry during games).
How competition influences a company's pricing strategy
What is companies may lower prices to match competitors or differentiate by positioning their product as higher quality and charging a premium.
This is an example of a place strategy for a sports team’s merchandise
What is selling merchandise at stadiums, online stores, and retail outlets like sporting goods stores
How digital marketing enhances promotion for media streaming services
What is tt allows companies to reach a broader audience through targeted ads, social media engagement, and personalized recommendations
How the 4 Ps work together when launching a new product
What is the product must meet consumer needs, priced competitively, available in the right locations, and promoted to attract interest
A product that a media streaming company can use in the terms of services
What is Access to movies, TV shows, music, podcasts, or exclusive content.
How a premium pricing strategy works for a media streaming service
What is a premium price reflects the higher perceived value of exclusive or high-quality content, appealing to consumers willing to pay more for superior service
This is how a streaming company can choose where to advertise its service
What is the company could advertise on platforms popular with its target audience, such as social media, tech blogs, or podcasts
How partnering with a tech brand could boost promotion for a media company
What is partnering can increase credibility and expand the audience reach through cross-promotion on the tech brand’s platforms or devices
How a sports team use all 4 Ps to promote a new season
What is offer season tickets (product) at different price points, sell them online and at stadiums (place), and promote through social media and local ads (promotion)
Offering both free and paid subscriptions affects a company's products strategy by
What is it allows the company to cater to different market segments, with the free version attracting new users and the paid subscription offering premium services.
How price perception affects consumer demand in the sports industry
What is if consumers perceive the price to be too high, they may not attend games or buy merchandise, but if they believe they are getting value for money, demand may increase
How the "Place" element impacts product availability in the entertainment industry
What is effective distribution ensures that consumers can access the content conveniently, whether through physical locations or digital platforms
Factors that should be considered when creating a promotional campaign for a sports event
What is target audience, timing of the event, budget, marketing channels, and the use of influencers or endorsements
Compare the traditional 4 Ps of Marketing with another marketing model
Just explain it and you get points :)