Marketing Mix Flashcards
1
Q
What is marketing mix?
A
Tactics a company use to to promote a product
2
Q
What is product mix?
A
The total range of products.
3
Q
What is product range?
A
Variations of one product
4
Q
Advantages of a narrow product mix
A
- Specific target market
- more time for each product
5
Q
Disadvantages of a narrow product mix
A
- higher risk
- only appeals to smaller market
6
Q
Advantages of a wide product mix
A
- more products to fall back on
- appeal to larger market
7
Q
Disadvantages of a wide product mix
A
- harder to manage
- more expensive costs
8
Q
What is a brand?
A
A product manufactured by a company under a particular name
9
Q
What is an own brand?
A
Product manufactured under retailers name
