Key Concepts
The process of determining what to charge for the products or service.
A) price B) pricing
C) promotion D) product
B) pricing
Determined by demand for goods and the cost of the goods. Examples of various pricing strategies: introductory prices, sales prices, odd pricing ($9.99 vs. $10.00)
price
The process of determining what to charge for the product or service:
A) Place B) Pricing
C) Promotion D) Product
B) Pricing
The customers who are most likely to buy the products.
Target Market
Which of the following is the best description of the marketing mix:
A) A combination of the four P's of marketing
B) An element of marketing that puts a product in the right place at the right time.
C)A method of eterming what a marketer want to achieve
D) A strategy that serves as a guide
A) A combination of the four P's of marketing
What element of the marketing mix includes decisions about how to transport the inventory to be sold?
A) product B) price
C) place D) promotion
C) place
The process of planning and executing the pricing promotion and distribution of ideas, goods, and services to create exchanges between buyers and sellers
marketing
Which of the 4 P's of the marketing mix concerns the various outlets and channels a business uses to distribute its products? Where products will be sold.
A) product B) price
C) place D) promotion
C) place
_______________ is the unique combination of pricing, promotion, product offerings and distribution system (place) to reach a specific group of consumer (the target market)
marketing mix
The marketing mix is also referred to as the :
A) Seven Functions B) 4 P's of marketing
C) Place D) 5 utilities
B) 4 P's of marketing
Which of the following places for Apple are included in marketing mix?
A) iTunes B) Apple Store
C) Apple Watch D) all of the above
D) all of the above
Occurs when two parties each have something of value to the other: A buyer buys clothes from a department store. The "Value" acquired by the store is profit and the customer acquired clothes both gaining something to accomplish their goal.
Exchange
Many movie theatres charge a lower admission between 4:00 pm and 6:00 pm to encourage more people to come at that tome. What element of marketing is the focus of this strategy?
A) price B) place
C) promotion D) planning
A) price
different elements that help increase the sale of the product. Examples: advertising, sales, public relations
promotion
A Product's marketing mix consists of:
A) Positioning product price and promotion
B) Product, profit, price, and promotion
C) Product, Price, Promotion, and Place
D) Promotion, psychographics, price, and place
C) Product, Price, Promotion, and Place
Which of the following is NOT a form of advertising?
A) TV Commerical B) billboard
C) newspaper article D) radio spot
C) newspaper article
These are the building blocks of the next years of this course and are often used throughout business and Marketing. There are four of these.
4 P's of marketing
Price, Place, Product, Promotion
Barnes and Noble began airing 30 second television commercials. This is an example of which marketing mix element?
A) product B) price
C) place D) promotion
D) promotion
How a product flows from producer to customer, wholesalers link the producer of the goods to the customer.
Place/Distribution
McDonalds conducts extensive research to determine the most effective way to transport their products. This is which component of the marketing mix?
A) product B) place
C) Price D) promotion
B) place
Which of the following descriptions providees the best definition of the marketing mix?
A) the way products are arranged in a retails store to maximize sales
B) The way a business combines the main marketing elements to sell products that meet the needs and wants of customers
C) The way a business distributes its products through retailers and wholesalers.
B) The way a business combines the main marketing elements to sell products that meet the needs and wants of customers
Can have two different meanings. It is where the products are sold. There are two types of this selling that you will learn about in this pathway. There are brick and mortar stores and online.
Place
Determining whether or not to sell your product through a wholesaler or a retailer relates to which component of the marketing mix?
A) product B) price
C) place D) promotion
C) place
is the firm's goods or services they are selling. This includes not only physical unit, also package, warranty, and brand company image.
product
Management is deciding whether or not offer the entire new line of athletic equipment. This is an example of which marketing mix element?
A) Product B) Place
C) Price D) Promotion
A) Product