Chapater one Flashcards
The Marketing Mix
1
Q
what is Product?
A
Designing, Naming, Packaging
2
Q
What is Price?
A
selling price, cost price, related expenses
3
Q
What is Place?
A
retail stores, internt, catalogues, door to door
4
Q
what is Promotion?
A
advertising, sales promotions, publicity, personal selling
5
Q
law of Demand?
A
Price goes UP, quanity demand goes DOWN and vis versa
6
Q
Law of supply?
A
Price goes UP, quanity supplied goes UP or price goes DOWN, qunaity supplied goes DOWN
7
Q
Business Ownership?
A
Sole Proprietorship, Partnership , Corporation
8
Q
Sole Proprietorship
A
One owner ex; sports merch
9
Q
Partnership
A
2 or more owners Ex; Warner bros
10
Q
Corporation
A
A business entity with shareholders Ex; Walt Disney
