4.5 The Four Ps (Product, Price, Promotion, Place)

how much a brand is worth in terms of its reputation potential income, and market value

the course a product passes from its development to its decline in the market

Setting a high price when introducing a new product to the market

Plans by firms to stop sales from falling by lengthening the product’s life cycle

Charging a price that is in line with or just below the competitors prices

A form of communication that gives a business direct control over its promotional activities

Low cost unconventional marketing strategy has an innovative/significant promotional effect

name, symbol, sign, or design that differentiates a film’s product from its competitors

Setting a low price for a product with the aim of gaining a high market share

Good or service that is offered to a market with the aim of satisfying consumer needs or wants

When firms consider how pricing affects consumers’ perception of the value of their products

Peer to peer communication where individuals are encouraged to pass on promotional messages

Both above-the-line and below-the-line methods used by a firm to support its marketing goals

Paid form of communication that uses independent mass media to promote a firm’s products

the design and production of the physical container or wrapper of a produc

analysis method of a firm’s product portfolio regarding its market share and market share

The process of distinguishing one’s firm’s product from another

Path taken by a product from the producer or manufacturer to the final consumer

Adding a mark up the average cost of producing a product

Ability of consumers to recognize the existence and availability of a firm’s goods or services

Charging a low price price for a product to attract consumers to buy other high priced products

consumers become committed to a firm’s brand and are willing to make repeat purchases over time

Charging different prices to different groups of consumers for the same product