Marketing Flashcards
(8 cards)
1
Q
What is the marketing mix?
A
The 4Ps: Product, Price, Place, Promotion.
2
Q
What is market research?
A
Gathering information about customer needs and preferences.
3
Q
What is segmentation?
A
Dividing the market into groups of consumers with similar needs.
4
Q
What is product differentiation?
A
Making a product stand out from competitors.
5
Q
What is branding?
A
Creating a unique name, design, or symbol for a product.
6
Q
What is penetration pricing?
A
Setting a low price to enter a competitive market.
7
Q
What is cost-plus pricing?
A
Adding a markup to the cost of making the product.
8
Q
What is promotion?
A
Activities to increase awareness and sales (e.g., advertising, sales promotions).
