Extended Marketing Mix

Extended Marketing Mix is ________

• an approach that professionals take to define clear marketing strategies, objectives and activities.

• an approach that professionals take to define clear finance strategies, objectives and activities.

• an approach that professionals take to define clear operating strategies, objectives and activities.

7 Ps are consists of ___________.

• Product, Price, Promotion and Place

• Place, Promotion, People, Physical Evidence

• Product, Price, Promotion, Place, People, Process and Physical Evidence

The employees who interact with customers, require training, motivation and communication are _________.

• Service

• People

• Price

• Physical Evidence

 

Tangible aspects of a service - For example the restaurant or lobby at a hotel are _______.

• Physical Evidence

• Service

• Promotion

• Processes

Why is extended marketing useful?

• making informed decision, developing a budget

• to persuade customer to buy your product

• for profit

________ refers to where and how you sell products. Businesses may choose to sell their products or services in a variety of unique ways, like in a storefront or online

• Place

• Price

• People

• Physical Evidence

______helps marketers identity the customers' expectations and develop strategies for how to meet those expectations. It includes any of the processes created for the purpose of delivering your product or service to the customer.

• Place

• Process

• Product

• Distribution Channels

Personal selling, direct marketing, sales promotion are the examples of _________.

• Physical Evidence

• Promotion

• Place

• Price

Price Skimming is __________.

• This occurs when you set a high price for a product and gradually assign a lower price over time.

• This type of pricing reflects the value that customers assign to your product and may fluctuate over time.

• This occurs when you set a price that appeals to a target audience that desires low prices in order to help them feel that they received a bargain or a deal.

• This strategy occurs when a company analyzes the pricing of competing businesses and prices their products in response.

Value Based Pricing is _________.

• This occurs when you set a price that appeals to a target audience that desires low prices in order to help them feel that they received a bargain or a deal.

• This type of pricing reflects the value that customers assign to your product and may fluctuate over time.

• This strategy occurs when a company analyzes the pricing of competing businesses and prices their products in response.

• This strategy takes place when you change the price of the product based on the current demand for the item or service.