marketing Flashcards
1
Q
purpose of marketing
A
- to persuade
- inform
- raise awareness
- to encourage
2
Q
4 Ps of marketing mix
A
product promotion price place
3
Q
invention
A
introduction of a totally new idea
4
Q
innovation
A
improve my of an original idea
5
Q
design mix
A
function, aesthetics, economic manufacture
6
Q
product life cycle
A
development, introduction, growth, maturity, decline
7
Q
extension strategies
A
sponsorship, special offers, biodegradable, limited edition
8
Q
competitor pricing
A
set price the same as competition
9
Q
cost plus pricing
A
makes sure you get profit
10
Q
penetration pricing
A
set lower than competitors, then becomes more expensive when u have loyal customers
11
Q
skimming
A
setting prices high becos high quality etc
12
Q
promotional pricing
A
reduced prices to give products a boost
13
Q
distribution channels
A
producer ➡️wholesaler ➡️retailer ➡️consumer
