Marketing: Product and Promotion

Question 1

What are the 4 p’s?

Answer 1

The 4 P’s are the marketing mix: Product, Place, Price and Promotion

Question 2

How will the
buyer use the
product in the consumer market?

Answer 2

Products for
personal
consumption.
B2C

Question 3

How will the
buyer use the
product in the business markets ?

Answer 3

Products used
directly or
indirectly to
produce other
products.
B2B

Question 4

Consumer market segmentation?

Answer 4

• Demographic – gender, ethnicity, age,
  family life cycle, religion, occupation,
  average income, etc.
• Geographic – city, province, country,
  climate (snowfall, temperature, rain,
  etc.)
• Psychographic/Behavioral – lifestyle,
  attitudes, values

Question 5

What is value?

Answer 5

Value is defined as a customer’s perception that a
certain product offers a better relationship between
costs and benefits than competitors’ products do.

Question 6

What is a product mix?

Answer 6

Product:
A Good or Service That Can Satisfy Buyers’ Needs
Product Line:
A Group of Products Designed for a Similar Market
Product Mix:
The Combination of All Product Lines

Question 7

what are the 6 stages of developing a new product?

Answer 7

1. Idea generation
2. Product screening
3. Product analysis
4. Product development
5. Test Marketing
6. Commercialisation

Question 8

What is a brand ?

Answer 8

A brand is a unique name, symbol, or design that identifies an
organization and its product or service.