7P's Flashcards
(34 cards)
refers to any goods or services that is produced to meet the consumers’ wants, tastes and preferences
products
location where the buyer and seller exchange goods or services
place
distribution channel
place
channel 1
producer > wholesaler > retailer > consumer
channel 2
producer > retailer > consumer
channel 3
producer > consumer
value of money in exchange for a product or service.
price
price is determined by:
- A buyer is willing to pay,
- A seller is willing to accept
- A competition is willing to
be charged.
complete set of activities, which communicate the product, brand or service to the user
promotion
gives the advantage of selecting the territory and audience to which the message is to be directed
radio
more effective as compared to radio as it has the advantages of sound and sight
television
carry their messages entirely through the visual mode. These media consist of newspapers, magazines and direct mail.
important for every business, as each happy customer can steer dozens of new ones your way.
word of mouth
the article that features your company is not paid for. The reporter, whether broadcast or print, writes about or films your company as a result of information he or she received and researched.
public relations
occurs when an individual salesperson sells a product, service or solution to a client.
personal selling
five stages of personal selling
- Prospecting
- Making first contact
- The sales call
- Objection handling
- Closing the sale
any initiative undertaken by an organization to promote an increase in sales, usage or trial of a product or service
sales promotion
promotional method that involves presenting information about your company, product, or service to your target customer without the use of an advertising middleman
direct marketing
ultimate marketing strategy; sell and push the product; people are one of the most important elements of the marketing mix today
people
a silent hero in the marketing world; refers to the outside appearance of a product and how it is presented to the customers
packaging
to provide for the effects of time and environment for the natural and manufactured products.
protection
involves the ability of the packaging to maintain its integrity during the handling involved in filling, sealing, processing, transportation, marketing, and dispensing of the food.
containment
necessary information; includes general features of
the product, ingredients, net weight of the contents, name and address of the manufacturers, maximum retail price (MRP).
information
The convenience packaging has been devised for foods, household chemicals, drugs, adhesives, paints, cosmetics, paper goods, and a host of other products.
utility of use
