WorksheetsMarketing and Demand
Total questions: 12
Worksheet time: 21mins
(a) is a means of communication with the users or potential users of a good or service where messages are intended to inform and/or influence.
(a) provides information about the benefits and features of a product, for example, what it does, how it compares with other products, and where it can be purchased. (b) tries to convince a consumer to buy a particular product. Persuasive advertising often appeals to (c) while informative advertising more often deals with (d) .
"Now with real strawberries and almonds"
"Help lower your cholesterol"
"Now with bananas, a good source of potassium"
"Crave those crazy squares"
"Mikey likes it!"
"Tigers start their day with a bowl"
(a) refers to promoting and selling products or services.
Marketing Mix (The 4 Ps)
A business makes four decisions with respect to how to promote and sell its product:
The need the product satisfies, product features, the size/color/style/etc. of the product, the product’s name and brand, the difference from competitor’s product, how/where customers use the product, the product’s packaging
Product
Value to the consumer, elasticity of demand for the product, price of competitors’ products, buyers’ income, discounts
Price
Target market, where consumers shop for the product, distribution channels, sales methods, competitors’ locations
Place
Advertising and public relations, how to reach potential buyers, how competitors reach potential buyers, when to promote, where to promote, how to promote
Promotion
Drag and drop to match each of the 4 Ps to its appropriate example.
A free temporary tattoo is included in every box of a cereal
Product
50-cent coupon attached to the outside of package
Price
Free samples given out at a retail store that sells the product category
Place
Website and placement of product in search engines
Promotion
(a) refers to any kind of marketing where the business initiates the conversation and sends its message out to potential customers. (b) attracts customers by creating content and experiences that connect to potential customers by providing content they are looking for.
Search engine optimization (SEO)
Provide free webinars
An interactive calculator for a product website
Direct mail postcards
Social media advertising
Print and radio ads
______ ____ is buying goods and services not for their intrinsic value but to impress others in hopes of improving one’s social status.
(a)
Drag and drop each item below to classify it as probably an example of conspicuous consumption or probably not an example of conspicuous consumption.
Milk
Luxury watch
Expensive purse
Mansion
Luxury SUV
Plain white T-shirt
Affordable car
House
With conspicuous consumption consumers may overestimate the (a) of a product.
Cars and furniture are examples of (a)
