Homework Week 5

Question 1

Marketing

Answer 1

the activity or business of promoting and selling products or services, including market research and advertising

Question 2

What are the 4ps?

Answer 2

Place
Product
Promotion
Price

Question 3

Advertising campaign

Answer 3

an organized course of action to promote a product or service

Question 4

Advertising media

Answer 4

the medium through which an advertisement is delivered to a target audience for the purpose of marketing, promotion, and selling goods and services

Question 5

What is the point of sale promotion

Answer 5

a form of in-store promotion or marketing campaign that takes place at the point a transaction occurs, in order to increase the number of purchases

Question 6

Price

Answer 6

How much a product is sold for

Question 7

Competitor pricing

Answer 7

Rivalling you’re competitors product price

Question 8

Cost plus pricing

Answer 8

a pricing method used by companies to determine the price of a product or service

Question 9

Penetration pricing

Answer 9

strategy used by businesses to attract customers to a new product or service by offering a lower price initially