4P

Question 1

The 4P are part of which section of the marketing mix, and what does it refer to?

Answer 1

Second, which refers to the tactical marketing tools in a program to engage the target customer and deliver customer value.

Question 2

The 4s are

Answer 2

1. Product
2. Price
3. Place
4. Promotion

Question 3

Regarding the product, the company must consider numerous factors form the

Answer 3

Product Life Cycle, as this will dictate costs, where the product should be placed and how it should be promoted, to its packaging, since this is what attracts customers.

Question 4

what is this an example of: DeWalt designing a box for a tool kit, taking into consideration how the consumer is going to utilize the product, and thus making it as comfortable as possible by adding a handle to facilitates transportation.

Answer 4

An example of incorporating packaging

Question 5

Price refers to:

Answer 5

the amount customers are willing to pay for a particular product.

Question 6

Marketeers must relate the price to what factors?

Answer 6

1. products real value
2. percived value
3. supply cost
4. seasonal discounts
   etc

For example, a brand like Pingo Doce, sells products belonging to countless brands, including its own. By establishing a list of prices, Pingo Doce should be reasonable, but still competitive in order to generate max profits.This list of prices is important as it enables consumers to be informed and compare prices.

Question 7

Place is a consideration of

Answer 7

Where the product should be available and how it must be displayed.

An example is: Louis Vuitton, when considering where to open new stores. As a luxury brand it would make sense to open a store in an area specifically designed for luxury shopping, like Avenida da Liberdade, in Lisbon. Here Louis Vuitton has access to local customers, as well as tourists.

Question 8

The goal of promotion is

Answer 8

to communicate to consumers that they need this product and that it is priced appropriately.

Question 9

Promotion encompasses what?

Answer 9

advertising
public relations
overall media strategy for introducing a product into the market.

Question 10

Marketeers must make sure that they successfully target their intended customers. and example:

Answer 10

For example, Disney should make sure their ads reach children, since its their main target. They do so using the allure of fantasy and magic. As a consequence, Disney also seeks to sell to parents, who wish to make their kids happy.