3.4a - The Marketing Mix Flashcards
1
Q
Marketing mix definition
A
The use of the seven P’s to market and sell its product
2
Q
What are the seven P’s?
A
- Price
- Product
- Place
- Promotion
- People
- Process
- Physical environment
3
Q
What are the main influences on the marketing mix?
A
- Finance available
- Market research
- Competitors
- Target market segment
- Type of product
4
Q
Actual product definition
A
The specific thing customers receive
5
Q
Core product definition
A
The primary product benefit customers receive
6
Q
Augmented product definition
A
The characteristic that makes the product different to any other similar product
7
Q
What is business to consumer marketing also known as?
A
Consumer marketing
8
Q
What are the different types of products?
A
- Convenience products
- Shopping products
- Specialty products
9
Q
Features of convenience products:
A
- Regular purchases
- Bought by habit
- Low price
- Impulse buys
- E.g. sweets and crisps
10
Q
Features of shopping products:
A
- Purchased often but not as often as convenience products
- Planned purchases
- Bought for augmented qualities
- Potential to add value
- E.g. TV’s, hairdressing
11
Q
Features of specialty products:
A
- Unique
- Brand is important
- High prices
- E.g. designer clothes, cars
12
Q
What is business to business marketing also known as?
A
Industrial marketing
13
Q
What are the features that a product must have in order to be successful?
A
- Fashionable
- Aesthetically pleasing
- Convenient
- Legal
- Durable
- Safe
- Reliable
