Marketing Mix & 4Ps of Marketing Flashcard

Front

What is the Marketing Mix?

Back

The tactics a company can use to promote its products or services

Front

Which of the following is NOT one of the 4Ps of Marketing? Product, Price, Place, Profit

Back

Profit

Front

What does the 'Product' element of the Marketing Mix refer to?

Back

The product or service that the company provides

Front

What is the purpose of analyzing consumer needs in marketing?

Back

To predict what types of products consumers will want.

Front

Which of the following is an example of a product feature for a backpack? Advertising, Social media, Padded shoulder straps, Reflective tape

Back

Padded shoulder straps

Front

What does the 'Price' element of the Marketing Mix refer to?

Back

What the consumers pays for in exchange for the product or service

Front

What factors should marketers consider when determining the price of a product?

Back

Production costs and pricing product lines, Seasonal and distributor discounts, Real or perceived benefits of the product.

Front

What does the 'Place' element of the Marketing Mix focus on?

Back

How and where to deliver the product to the consumer

Front

Which of the following is an example of a promotional strategy? Pricing product lines, Search engine marketing, Padded shoulder straps, Reflective tape

Back

Search engine marketing

Front

What is the goal of any promotional activity?

Back

To increase awareness and interest in the product