1.3.5 Marketing mix and strategy (3/3) Flashcards
1
Q
Marketing
A
The process of identifying anticipating and satisfying customers wants and needs
2
Q
Marketing strategy
A
A set of plans that aim to achieve a specific marketing objective
3
Q
Mass and Niche Marketers have to adapt the
A
Marketing Mix
4
Q
4 elements of the marketing mix
A
Product
Price
Promotion
Place
5
Q
How may Mass Marketers adapt the 4ps
A
1) Product :
products across market may be very generic so business has to find a way differentiate
2) Price :
Competitor pricing and managing costs are key to success as many products will have similar tastes
3)
