MARKETING MIX

it refers to a mode, means, or tool used by the entrepreneur to position the product in the target market segment to efficiently and effectively deliver it to the consumers.

• Marketing strategy

• Marketing mix

• Marketing research

• Market opportunities

It refers to the tangible good or intangible service offered by the business to the target consumers.

• Promotion

• Product

• People

• Place

Refers to the mode of conveying the presence and attributes of the product to the target consumers.

• Promotion

• Product

• People

• Place

Refers to the process of putting the product in a package or container.

• Promotion

• Product

• People

• Packaging

It refers to the place occupied by the product in the minds of the consumers.

• Promotion

• Positioning

• Product

• Packaging

In entrepreneurship, marketing is about creating strategies and opportunities for both seller and buyer.

• True

• False

When the supply of the competing products is high, the price of the product is usually high.

• True

• False

A product that cannot meet the needs of the consumers should NOT stay long in the market.

• True

• False

When the supply is low, the price is High.

• True

• False

An entrepreneur uses Marketing Mix to convince the target consumers about the benefits of buying and consuming the product.

• True

• False