Introduction to marketing Flashcards
1
Q
What is marketing?
A
“Marketing is the term used to describe all activities involved in getting goods and services from the businesses that produce them to the consumers who wish to purchase them”
2
Q
What are the 4P’s?
A
- Product
- Price
- Placement
- Promotion
3
Q
What is the product?
A
A good or service that is for sale. Elements include quality, features, design, benefits, product/service mix.
4
Q
What is the price?
A
How much the item costs. Consumers are price sensitive.
5
Q
What is the placement?
A
Where can the product be purchased? The channels of distribution are direct, indirect and specialty.
6
Q
What is a promotion?
A
“An attempt to sell a product by convincing consumers to purchase the good or service instead of a competitors offering.”
