Chapter 4 Flashcards
1
Q
What the 4Ps stands for?
A
Product, Price, Place, Promotion
2
Q
What is Product?
A
Product is to satisfy customer’s needs and wants
3
Q
What is Branding?
A
It is the use of a name, term, symbol, design or combination
4
Q
What are the functions of packaging?
A
It promotes the image of the brand, protects and contains, makes product easier/safer to use, saves space and is easier to handle, prevents spoilage and prevents shoplifting
5
Q
What is Price?
A
It refers to the setting of the price for a product. It is also the amount of money a business charge for a product
6
Q
What does the 3Cs of pricing stands for?
A
Customers, Costs, Competitors
