Definitions - Marketing Mix Flashcards
1
Q
4 P’s?
A
Product
Price
Promotion
Place
2
Q
Marketing mix?
A
The combination of the 4 P’s that are designed to achieve the marketing objectives of a business
3
Q
Integrated marketing mix?
A
When the 4 P’s are complementary to each other
4
Q
Product?
A
A good or service offered to customers by a business
5
Q
Product line?
A
A set of related goods or services
6
Q
Product mix?
A
The range of products one firm offers - its product portfolio
7
Q
Unique selling point?
A
A feature or function of a product that makes it different from any other product on the market
8
Q
Product differentiation?
A
Creating a perceived difference in the minds of consumers for one business or product in a competitive market e.g. advertising and branding or after sales service
