What are the 4P's of marketing?

Product, Price, Place, Promotion

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year 10 Business - Mastering Marketing

19 termsStudBud Administration15 plays

Test your knowledge and dive into the world of marketing strategies and concepts

Flashcards19 cardsFPractice quizPHost liveL

Questions 19

Answers

1
True or false: Psychological pricing uses .99 endings
True
False
2
True or false: Competitive pricing ignores competitors
False
True
3
Which strategy sets a low initial price?
Value-Based Pricing
Penetration Pricing
Skimming Pricing
Premium Pricing
4
What does 'Total Product Concept' mean?
Product promotion
Single product feature
Product cost
Complete product experience
5
Which strategy focuses on customer value?
Competitive Pricing
Cost-Plus Pricing
Value-Based Pricing
Penetration Pricing
6
Which strategy involves adding a markup?
Cost-Plus Pricing
Skimming Pricing
Penetration Pricing
Competitive Pricing
7
Which strategy sets a high initial price?
Skimming Pricing
Competitive Pricing
Cost-Plus Pricing
Penetration Pricing
8
Which strategy is used in competitive markets?
Competitive Pricing
Penetration Pricing
Skimming Pricing
Premium Pricing
9
What does 'Place' in marketing mix mean?
Promotion method
Distribution strategy
Pricing strategy
Product design
10
True or false: Direct distribution uses intermediaries
False
True
11
Which strategy sets prices based on value?
Value-Based Pricing
Penetration Pricing
Competitive Pricing
Cost-Plus Pricing
12
What is the purpose of 'Place'?
Design product
Set product price
Promote product
Get product to customer
13
Which pricing strategy uses emotional appeal?
Premium Pricing
Value-Based Pricing
Cost-Plus Pricing
Psychological Pricing
14
True or false: Penetration pricing starts high
False
True
15
What are the 4P's of marketing?
Product, Price, Promotion, People
Product, Price, People, Promotion
Product, Price, Place, People
Product, Price, Place, Promotion
16
True or false: Premium pricing creates exclusivity
False
True
17
True or false: Indirect distribution is always cheaper
False
True
18
What is a benefit of online retailing?
High costs
24/7 accessibility
Slow transactions
Limited product variety
19
What is the goal of promotion?
Change product design
Reduce costs
Increase production
Inform and persuade

year 10 Business - Mastering Marketing Flashcards | StudBud

year 10 Business - Mastering Marketing

19 termsStudBud Administration15 plays

Test your knowledge and dive into the world of marketing strategies and concepts

Flashcards19 cardsFPractice quizPHost liveL

Questions 19

Answers

1
True or false: Psychological pricing uses .99 endings
True
False
2
True or false: Competitive pricing ignores competitors
False
True
3
Which strategy sets a low initial price?
Value-Based Pricing
Penetration Pricing
Skimming Pricing
Premium Pricing
4
What does 'Total Product Concept' mean?
Product promotion
Single product feature
Product cost
Complete product experience
5
Which strategy focuses on customer value?
Competitive Pricing
Cost-Plus Pricing
Value-Based Pricing
Penetration Pricing
6
Which strategy involves adding a markup?
Cost-Plus Pricing
Skimming Pricing
Penetration Pricing
Competitive Pricing
7
Which strategy sets a high initial price?
Skimming Pricing
Competitive Pricing
Cost-Plus Pricing
Penetration Pricing
8
Which strategy is used in competitive markets?
Competitive Pricing
Penetration Pricing
Skimming Pricing
Premium Pricing
9
What does 'Place' in marketing mix mean?
Promotion method
Distribution strategy
Pricing strategy
Product design
10
True or false: Direct distribution uses intermediaries
False
True
11
Which strategy sets prices based on value?
Value-Based Pricing
Penetration Pricing
Competitive Pricing
Cost-Plus Pricing
12
What is the purpose of 'Place'?
Design product
Set product price
Promote product
Get product to customer
13
Which pricing strategy uses emotional appeal?
Premium Pricing
Value-Based Pricing
Cost-Plus Pricing
Psychological Pricing
14
True or false: Penetration pricing starts high
False
True
15
What are the 4P's of marketing?
Product, Price, Promotion, People
Product, Price, People, Promotion
Product, Price, Place, People
Product, Price, Place, Promotion
16
True or false: Premium pricing creates exclusivity
False
True
17
True or false: Indirect distribution is always cheaper
False
True
18
What is a benefit of online retailing?
High costs
24/7 accessibility
Slow transactions
Limited product variety
19
What is the goal of promotion?
Change product design
Reduce costs
Increase production
Inform and persuade