1
Q
What is this theory?
A
A marketing concept that summarizes the four basic pilars of a marketing strategy
2
Q
What are the 4 p’s?
A
product, price, place, promotion
3
Q
1st P?
A
PRODUCT; what you sell? good, service…
- how does it stand out from other similar produts?
- what problem are you solving?
4
Q
2nd P?
A
PRICE; how much do you price for your product? how does that impact how your customers see your product?
- how to come up with the right price?
- how low are you willing to go & how high are your customers willing to pay?
5
Q
3rd P?
A
PLACE; where do your customers go to find info about your company / industry? WHERE do you promote etc
- location is always key
- do you sell directly?
- where are your customers?
6
Q
4th P?
A
PROMOTION; how do your customers find out about you and are those strategies effective?
business operations exam
flashcards
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