Marketing Mix - 4 Ps Flashcards
What are the 4 elements of marketing mix
product, price, place, promotion
Marketing Mix is a …………. concept as it needs to be changed from time to time
dynamic
Marketing mix helps maintaining ……………. between the business firm and business firms and it’s marketing environment
equilibrium
…………………….. mix refers to a combination of various features relating to the product or service offered for sale
product mix
………………. mix involves decisions concerning the brand name, package, quality, size, range etc
product mix
Consumers consider the product as a ……………………. than a ……………………..
bundle of satisfaction, physical item
………………… mix involves decisions regarding the basic price of the product, discount, allowances and credit and terms of payment
price mix
……………………. is the money value a customer has to pay in exchange for the product
price
………………………. mix consists of all the activities involved in transferring the ownership of products to the consumers
place or physical distribution mix
The purpose of ………………….. is to make the product available for the consumer at the right place and right time
place or physical distribution mix
………… are the routes through which the products move from the producer to the consumer
distribution channels
……………………………. mix consists of all the activities aimed at persuading the customers to buy the product
Promotion mix
……………. includes providing the consumers information about the product through means of communication
Advertising
Increasing sales through short term promotional activities is known as ……………………….
Sales Promotion
………………… is the mention of a company, brand or service in newspapers, radio and other means of communication
Publicity
……………. is a relatively minor form of promotion as the seller has no control over what the media will mention
Publicity
Bajaj electricals has a wide range of ……….. comprising bulbs, fans, mixer-grinders etc
product mix
A …………… is a case, container, box, wrapper or other receptacle used in packaging products
package
A package is not just the carrier of the product but also a …………………..
selling tool
Packaging facilitates the ………….. of a product
branding
The package must be ……….. in relation to the value of product
economical
Labelling implies putting identification marks on the ……………
package
…………… indicates the brand type
Brand Label
………………. provides written information about the weight, contents, and other features
Descriptive label
In labelling, consumers prefer the …………… label while the sellers are more interested in the ………….. label
grade, descriptive
What are the stages of the product life cycle?
Introduction Stage Growth Stage Maturity Stage Saturation Stage Decline Stage Abandonment of Product
The product lifecycle is not a ……………….. but an …………………… or standard against which the life of a product may be determined
universal law, ideal type
The ……………………. is not a universal law but an ideal type or standard against which the life of a product may be determined
product life cycle
In the …………. stage the product is born
Introduction Stage
The firm informs the market about the existence of the product in the ……………. stage
Intorduction Stage
Competition is virtually absent in the …………. stage
Introduction
The price of the product is relatively high in the …………… stage of marketing and little is known about it
Introduction stage
Growth in sales of the product in the Introduction stage is low due to ……………. and ………………
lack of customer’s knowledge and limited distribution
The prices of the products in the Introduction stage is high because of the …………………….. and ………………..
Small scale of production and heavy promotional expenditure
Skimming the cream policy or targeting the class market is a strategy used in the …………….. stage of product life cycle
Introduction stage
Demand and sales of a product grow rapidly in …………… stage
growth stage
In ……………… stage, distribution is widened and competition increases and prices fall
Growth
In …………………… stage, the focus shifts from “buy my product” to “buy my brand”
Growth
In growth stage, prices are kept at a ………………. level and greater emphasis is given to ……………………….
competitive, customer service
Heavy advertising is done and distribution channels are expanded in the ……………………… stage to make the product available wherever demaded
Growth Stage
