Lesson 5: The 2 C's and 4 P's Flashcards
1
Q
CONSUMER MARKET
A
all consumers interested in G&S
2
Q
COMPETITIVE MARKET
A
All G&S that compete with each other for the consumer’s money.
Competition can be narrow (i.e. Movie)
Or broad (i.e. Entertainment industry)
3
Q
PRICE:
A
How much should we charge?
Too low?
Too high?
3
Q
PLACE:
A
- How will we actually get our G&S to our customers?
- Distribution channel - how do we transport goods?
- Location - where will we sell the G&S?
- Inventory Management - how do we ensure we receive the appropriate goods at the right time?
- Storage - where will we keep goods?
4
Q
PRODUCT:
A
- What G&S should we sell and how?
- Marketing research
- Product development
- Packaging
- Branding
5
Q
PROMOTION:
A
- How do we create awareness of our G&S for our target market?
- Advertising
- Sales Promotion
- Publicity
- Personal Selling
6
Q
A
