Marketing Mix 4Ps & 7Ps

Place refers to __________________.

• the goods or the services of the business is selling.

• how much people will pay for the product.

• where the product will be sold

Price refers to _________.

• where the product will be sold

• How much people will to pay for the product

• how the business tells people about the product

Is this ....

• Place?

• Product?

• Promotion?

• Price?

Is this...

• Place?

• Product?

• Promotion?

• Price?

What is promotion?

• The value placed on a product, usually given in monetary terms.

• A company's portion of the total industry sales for a certain type of product.

• Determining how to get the product to the right people, in the right amounts, at the right time and place.

• Any form of communication that a business uses to inform, persuade, or remind potential customers about their products.

It is the most commonly used tool of promotion.

• Advertising

• Sales Promotion

• Public Relation

• Personal Selling

Which is NOT a traditional advertising media?

• Television

• Radio

• Twitter

• Newspapers

________ involves dividing a market into smaller segments of buyers with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes. 

• Mass customization
• Market targeting
• Market segmentation
• Differentiation

Marketing to specific customers based on their location

• Pyschographic

• Behavioral

• Geographic

• Demographic

The term "Demographics" refers to

• Grouping potential customers based on their beliefs and preferences

• Grouping potential customers based on whether or not they have purchased a product in the past

• Grouping potential customers using statistical data such as age, race and gender

• Grouping potential customers based on where they live