The 4 Ps
Cohesive business decisions
If the marketing concepts in the mix are strategically coordinated, they can work together to create this
Making customers aware of products
NOT a consideration associated with product
Lowering production costs
NOT one of the strategies included in price
Psychological
Price is this type of variable
Customer habits
Pricing strategies must relate to this to be succesful
Satisfy a customer want or need
Products must do this
Internet and service-based organizations
The marketing mix often limits these types of organizations
The company's target market
The marketing mix should directly relate to them
Naming and packaging products
a consideration associated with product
Customer driven
The marketing mix must be this
Customers' buying decisions
A store's location may impact this
Determining available payment methods
Carrie has decided to offer her customers financing for the products in her store. This would be considered part of this strategy.
Helpful and needed suggestions
Customers can often provide this
Benefits
Customers do not buy products, they buy this
Personal selling
Decisions about this are associated with promotion
Market coverage
Gloria has a product which she has decided to sell in select locations only. This is an example of this basic place decision
Place
Jordan is making a decision about how the products his business sells are transported to his store. This decision would fall under this one of the four Ps
The Internet
Leveraging the full power of __________ may be a key business strategy.
Repairs and support
NOT a basic place decision
Determining packaging
NOT a basic pricing decision
Determining sales associate pay rates
NOT a basic pricing decision
Examining the location life cycle
NOT a consideration associated with place
Packaging
NOT a promotional decision
Distribution
Place is also described as this
Branding
Promotion does NOT include decisions about this
Message communicated to customers
Promotion refers to the type of this
Media outlets
Promotion requires selecting this
A need and desire to buy
Promotion should stimulate this
Promotion
This one of the 4 Ps includes creating a 50-percent-off coupon
Product
This one of the 4 Ps relates to packaging
Place
This one of the 4 Ps relates to warehouse inventory
Price
This one of the 4 Ps would include offering credit arrangements
The Internet
can be used to change, optimize and enhance marketing strategies
Establishing an enthusiastic sales force
concept that is NOT associated with the fifth P
Inventory shortage
may drive customers away
People
sometimes referred to as the "fifth P"
Brand awareness
the first step toward product sales
The key management decisions needed to be successful in marketing
the marketing mix defines this
Word-of-mouth
the most powerful form of buying suggestion
Extended services and warranties
used to create customer loyalty
