Overview of Marketing Flashcards
1
Q
What is marketing?
A
Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that
have value for customers, clients, partners, and society at large.
2
Q
Customer value
A
Function of total perceived benefits relative to total perceived costs
3
Q
4 P’s
A
Product, price, promotion, place
4
Q
product strategy
A
Provide tangible and intangible benefits, consistent with chosen positioning and target segment
5
Q
price strategy
A
earn revenue and communicate value to the customer
6
Q
promotion strategy
A
Build awareness, Convey information, Develop positive associations, Increase intent to purchase
7
Q
place strategy
A
Deliver your product at the right place, right time, and right quantity
