Marketing Mix (product, price, place)

Question 1

experiential marketing

Answer 1

promotes product by communicating features and benefits and connecting it with unique and interesting consumer

Question 2

relationship marketing

Answer 2

transcends actual product/service to create stronger bonds with consumer

Question 3

permission marketing

Answer 3

practice of marketing to consumers only after gaining express permission

Question 4

mass customization

Answer 4

make products to fit customers’ exact specifications

Question 5

Value pricing

Answer 5

uncover right blend of quality, costs, and prices to fully satisfy needs/wants of consumers to balance product design and delivery, costs, and prices

Question 6

Price segmentation

Answer 6

set/adjust prices for appropriate market segments