The Marketing Mix

Question 1

What are the 3 different levels of products?

Answer 1

1. Core (Customer value)
2. Actual product ( Brand, Features, Packaging)
3. Augmented Product ( Delivery, Warranty)

Question 2

What are the special characteristics of services?

Answer 2

Intangibility
Inseparability
Variability
Perishability

Question 3

What is co-branding? Example?

Answer 3

Using the established brand names of 2 different companies on the same product (Malhotra 2012)
The art and shaving and Gilette, Fusion chrome collection

Question 4

What are the different brand development strategies?

Answer 4

Line extension (Existing brand, existing product)
Brand extension (Existing brand, New product)
Multibrands (New brand, existing product)
New brands (New brand, new product)

Question 5

What are 3 different pricing views?

Answer 5

Company value based pricing
Cost based pricing
Competition based pricing

Question 6

What are examples of pricing strategies?

Answer 6

Market skimming pricing
Market penetration pricing
Product line pricing
Optional product pricing

Question 7

What are the 2 most important goals of promotion?

Answer 7

Create customer value

Communicate the Value

Question 8

What are the 5 major promotional tools?

Answer 8

Advertising
Sales promotion
Personal selling
Public relations
Direct and digital marketing

Question 9

What are the 4 different ways of setting a promotion budget?

Answer 9

Affordable method
% of sales method
Competitive parity method
Objective and task method
 - KOTLER 2017