Marketing Mix - Product & Price

All of the processes planning, pricing, promoting, distributing, and selling utilized by a company to place its products in the hands of potential customers

• marketing concept

• return on

  investment (ROI)

• brand

• marketing

Pricing that is determined by using the wholesale cost of an item as the basis for the price charged

• cost-based pricing

• demand-based pricing

• competition-based pricing

Uses the needs of customers as the primary focus during the plan-ning, production, distribution, and promotion of a product or service

• marketing mix

• marketing concept

• positioning

A blending of the product, price, distribution, and promotion used to reach a target market

• product mix

• marketing

• marketing mix

Identifies how marketing goals will be achieved

• marketing plan

• marketing strategy

• marketing

• positioning

The amount earned as a result of an investment

• discount pricing

• product mix

• return on

  investment (ROI)

Pricing that offers a reduced price to encourage customers to buy

• cost-based pricing

• discount pricing

• psychological pricing

• competition-based pricing

Product characteristics that satisfy customer needs

• brand

• product mix

• features

• marketing plan

The name, symbol, or design used to identify your product

• features

• brand

• product mix

Pricing that is based on the belief that certain prices have an impact on how customers perceive a product

• psychological pricing

• competition-based pricing

• demand-based pricing

• discount pricing