Product involves either the product or service the business is selling to satisfy customer needs and wants

Promotion includes advertising only

What does target market mean?

The __________ is the amount the customer will pay for the product. The value of money or its equivalent placed on a good or service.

Selling my product at the Auckland Night Markets is an example of a distribution channel, which falls under __________________.

Personal selling, Youtube ads and billboards are all examples of ___________________.

Price decisions refer to how much the company will sell the product for. When establishing a price, companies must consider and determine a price based on which of the following? Select all that apply.

With the 4Ps, how a business will decide to distribute it products would fall under which of the 4Ps?

It includes a variety of activities such as advertising, selling, sales promotions, public relations, direct marketing and sponsorship.

At its core, marketing seeks to take a product or service, identify its ideal customers, and draw the customers' attention to the product or service available.

Which of the 4P's does this represent: Transportation

Which of the 4P's does this represent: Discounts

Which of the 4P's does this represent: Air Jordans

Which of the 4P's does this represent: Advertisements in the newspaper

Sean is trying to decide where he should locate his new business. Under which marketing function does this action fall?

A cell phone manufacturing company is working to improve its least popular cell phone by adding more advanced features, color options and different size screens. Under which marketing function does this action fall?

When customers rushed to H&M to buy jeans for $19.99, the Gap decided to offer customers a similar discount. Under which marketing function does this action fall?

Paul owns a small sandwich shop. He has been so successful that he is going to open a second shop. He is trying to decide where the shop should be located. Under which marketing function would his action fall?

Coca-Cola decided to offer a new type of soft drink called Coke 2. Under which marketing function does this decision fall?

The marketing mix is also known as?

A group of individuals with similar traits who might purchase a particular product & you are aiming your product towards:

Which of the following questions might marketers ask when they are working on the product element of marketing?

McDonald's conducts extensive research to determine the most cost-effective way to transport their products. This is which P of the marketing mix?

Communication used to inform, persuade, and remind customers about a business’s product would be part of... ?

Many movie theatres charge a lower admission during specific times (e.g. Super Saver tickets or Cheap Tuesdays) to encourage more people to come at that time. What element of marketing is the focus of this strategy?

Determining whether or not to sell your product through a wholesaler or a retailer relates to which component of the marketing mix?

A business wants to build customer awareness of features and benefits in its products that are better than their competition. Which element of the marketing mix is most likely to help them achieve this?

This is when a business creates a list of information and details that describe consumers, such as by age, gender, and income level. They are grouped by similar wants and needs and become know as my target market. What is this?

customer profile helps you make decisions

about

data such as age, income level, education, buying habits are not part of your customer profile

What is the point of a customer profile?

Which of the following is a customer profile type

Why is income important

The process of dividing a market of potential customers into groups based on different characteristics is called

What does 'market share' refer to in business?

If Company A has 30% of the total sales in its industry, what is its market share?

How does Tesla decide who to sell its electric cars to?

A target market is a group of consumers that have similar wants and needs.

What does a target audience refer to?

A group of people identified as those most likely to become customers

Is the process of classifying customers by needs and wants

Type of customer who purchases goods and services for personal use

Type of customer who purchases businesses that buy products, often in large quantities, to use in their operations;

A soda company made $2,000 in sales. The total market revenue for sodas is $10,000.
👉 What is the company’s market share?

Fresh Juice Co. sold $800 worth of juice. The total juice market revenue is $4,000.
👉 What is Fresh Juice Co.’s market share of the market?

Snack Shack earned $1,500 in total sales. The snack market brought in $6,000 overall.
👉 What is Snack Shack’s market share percentage?