Marketing basics Flashcards
What are the 4 p’s of marketing
Product, Price, Promotion, Place
what are the 7 p’s of marketing
Product, Price, Promotion, Place, people, process, Physical evidence
what are the differences between marketing goods and services
Goods: goods are something you can see, touch and physically get after purchasing, e.g. a phone or groceries
services: services are something that are not physical and someone does them for you e.g. house cleaning or car wash
Differences between market orientated and product orientated
product orientated: focuses on creating the best product possible, very risky because market needs are ignored and there is no customer input
market orientated: focuses on market research before developing and selling a product, unfortunately market research is very expensive and customer needs change all the time meaning the product would need to change all the time
differences between social and commercial marketing
social marketing: is used to change behaviours and tries to get people to stop or start doing something (e.g. stop smoking Champaign)
Commercial marketing: is used to get clients to buy something based on client demands, wants and needs. (e.g. bier commercials, mc Donald’s commercials etc.)
