Marketing Mix Flashcards
1
Q
What is Marketing Mix?
A
In order for a business to be successful, it must find the right balance between its product/service, price, place and promotion.
2
Q
What is a Product?
A
This is the good or service the business provides to its customers.
3
Q
What is a Price?
A
This is how much a business chargers for its products/service.
4
Q
What is a place?
A
This is where (location) and how (method of distribution) the product is sold by the business.
5
Q
What is a Promotion?
A
This is how customers are made aware of the product/service and are persuaded to purchase it.
