The 4 P's + 1
One of the 4 P's - Relates to how much something costs
Price
The basic marketing concept states that businesses must create, identify, and satisfy a customer's?
Needs and Wants
An online presence also satisfies ____ & _____ ?
Hint: Think of the marketing concept
Needs & Wants
A needed is something that is...
Essential or Needed
An online _______ helps businesses meet the needs of the customer better
Presence
One of the 4 P's - Relates to the item being advertised, and shown to as many potential buyers as possible
Promotion
True or False? Technology has a negative influence on customer relationships
False- It strengthens them
Online Presence provides what to the customer?
a) sofas b) seminars c) gift cards d) convenience
d) Convenience
Not essential to human life
The marketing concept ultimately exists to make a ________
Profit
One of the 4 P's - Relates to the actual item being sold. Quality is key here.
Product
The marketing concept exists with business seeking to meet the needs and wants of a customer... (Think Monetary)
At a Profit
Name one way that offering a business online benefits that business?
Faster Service
Personalization/Customization
Variety of Offering (Selection)
Shipping to Front Door
A want adds to the ______ of life
Quality
An online business can do this to a product to make it more individualized for the customer
Personalize it
Refers to the location that a marketing strategy will be aimed or conducted
Place
The marketing concept has a _____ effect on customer loyalty
A) Neutral B) Positive C) Negative D) Huge
B) Positive
True or False: A business that stays offline has an advantage in making a profit
FALSE
Give two blatant examples of needs
Anything needed to sustain human life
Advertising your product would fall under which portion of the marketing mix?
Promotion
Considered to be the non-official 5th "P" of Marketing
People
Even though the concept exists to make a profit, it must be ______-driven
Customer (Consumer)
Name 2 platforms that marketing occurs digitally
Hint: Think technically
Instagram, Facebook, Twitter, Google, Pinterest, etc.
Which of the following do businesses do to meet the needs of the customer better?
a) open a bank account b) create an online presence c) make a donation in their honor d) send them emails about how terrible they are
b) create an online presence
Using the marketing concept correctly has a _______
effect on customer loyalty
Positive