Chapter 12 5 P’s

Question 1

PRODUCT

Answer 1

Object, service or system being marketed
-liquid, packaging, branding, experience, how is it different

Question 2

PRICE

Answer 2

• price to be paid by consumer
  -defined by costs through he supply chain

Pricing strategy: competitive, low, expensive, luxury , 9.99 or 349

Question 3

PEOPLE

Answer 3

• attitudes and behaviours of the consumer
• will they watch tV, use social media, read the paper, attend a festival , visit a winery,
• also the relationship between the skilled staff who hand sell and tell the story, the distributor and sales reps , engaged or educated tastings , PR

Question 4

PLACE

Answer 4

Where the product is sold , country, supermarkets, ALDI, specialist Wine store
- high or low involvement markets
-identify distribution channels - is there Three Tier system , free market, monopoly,
- is there duty, trade tariffs, what is the exchange rate , price sensitive market