Marketing Flashcard

Front

What are the 4 Ps in the Marketing Mix?

Back

Product, Price, Place, Promotion

Front

What is defined as an item or service offered by a company to satisfy consumer needs?

Back

Product

Front

Which term describes the amount of money a consumer must pay to acquire a product or service?

Back

Price

Front

What strategy is used to get a product from the manufacturer to the consumer?

Back

Place (Distribution)

Front

Which activities are used to communicate the value of a product to potential customers?

Back

Promotion

Front

What is a specific group of consumers at whom a company aims its marketing efforts?

Back

Target Market

Front

What gives a company an edge over its competitors by attracting and retaining customers?

Back

Competitive Advantage

Front

What is the process where buyers and sellers trade goods, services, or money?

Back

Exchanges

Front

What term refers to the international network of economic activities affecting marketing strategies worldwide?

Back

Global Economy

Front

What does 'Demographics' refer to in marketing?

Back

Statistical data relating to the population and particular groups within it