Marketing Mix

Front

The marketing mix is the strategy or set of actions a company uses to market its product or brand.

Back

True

Front

What are the 4P's of Marketing?

Back

Product, Price, Place, Promotion

Front

The product is what you’re offering to the market. It MUST be a good, service, or idea.

Back

False

Front

You cannot utilize the other elements without this part of the mix.

Back

Product

Front

A ________ is a consumer's desire for a product or service's specific benefit, whether that be functional or emotional.

Back

Need

Front

A tangible product that is purchased for consumption by the consumer. Has a manufacturing process.

Back

Good

Front

A service is tangible.

Back

False

Front

Pricing strategies should reflect what customers are willing and able to pay.

Back

True

Front

The practice of pricing goods at a high level in order to give the appearance of quality.

Back

Prestige Pricing

Front

Offering a lower price per unit for the purchase of two or more products of the same type when bought together.

Back

Multiple Unit Pricing