4.3d Place Flashcards
In the context of the 4Ps, what is Place?
It is where the customer can purchase the product
Where can a customer purchase a product?
Online, through a retailer or direct from the manufacturer
What can Place also refer to?
The route that a product takes to get from the manufacturer to the end customer
Why is Place important?
Customers want products that are convenient to purchase as possible
How does Place contribute to the marketing mix?
Locations, inventory, transportations
What is the benefit of getting your goods manufactured nearby?
Less fuel consumed during transportation, lower carbon footprint, boosts the local economy
How can you reduce the impact on the environment through the marketing mix (for Place)?
Decrease the distance from the manufacturer to the end customer to reduce the carbon footprint
What is an example of how Place was used to reduce the costs of making a product?
The role of TNCs that use out-sourcing such as in China
Give an example of how Place can be used as a USP
Locally sourced ingredients / low carbon footprint
How can Place benefit entrepreneurs?
Franchising can create a reliable source of income
