last marketing revision - what i need to work on

Question 1

marketing mix - place definition and example

Answer 1

The distribution channels and locations where the product is made available.

Includes: retail outlets, online stores, supply chains, logistics, and coverage.

Question 2

marketing mix - process definition and example

Answer 2

The steps and systems involved in delivering the product or service.

Includes: speed of service, booking systems, delivery processes, consistency.

🔹 Example: A fast-food restaurant with a streamlined ordering process and quick delivery.

Question 3

marketing mix

Answer 3

product
price
place
promotion
physical evidence
people
promotion

Question 4

marketing mix - physical evidence definition and example

Answer 4

The tangible cues that support the service and help build trust.

Includes: physical environment, receipts, packaging, website design, uniforms.

🔹 Example: A clean and modern clinic that gives patients confidence in the service.

Question 5

what is the more for more value proposition

Answer 5

high quality
high price

Question 6

what is the more for the same value proposition

Answer 6

same price as comp
better quality than comp

Question 7

what is the same for less value proposition

Answer 7

low price
same value as comp

Question 8

what is the less for much less value proposition

Answer 8

low quality
much lower price

Question 9

brand name types

Answer 9

evocative - suggests a feeling, image etc
descriptive
founder
synthetic
personality - reflects a character or vibe e.g. energizer

Question 10

market types

Answer 10

monopolistic comp
pure comp
oligopoly
pure comp

Question 11

pure monopoly

Answer 11

one seller
unique product
total price control

Question 12

monopolistic comp

Answer 12

many sellers
slightly different products
some price control

Question 13

oligopolistic

Answer 13

few sellers
similar products
high price control

Question 14

pure competition

Answer 14

many sellers
identical products
no price control

Question 15

personal selling process

Answer 15

prospecting and quantifying
pre approach
approach
presentation and demonstration
handling objections
closing
follow up

Question 16

3 pricing strategies

Answer 16

customer value based
cost based
comp based

Question 17

product mix pricing strategies

Answer 17

product line pricing
product bundle pricing
optional product pricing (add ons)
by-Product Pricing (Selling leftovers from making the main product.)
Product Bundle Pricing

Question 18

three types of promotion based on target audience

Answer 18

trade - retailers and wholesalers
aim - encourages them to stock product e.g. discount for bulk purchase

business -
aim - strengthening relationships e.g. trade shows

consumer - e.g. coupons