The 4 Ps and Market Segmentation

The Marketing mix is also known as the...

Based on what they are looking for in a product and why they buy the product.

Based on personal characteristics such as age, gender, and income.

A single marketing plan used to reach all customers.

A group of potential customers that share common needs and wants.

Informs and reminds customers of the products available.

Based on values, attitudes and lifestyles.

Is the amount a business charges customers for their products.

What includes packaging, quality, brand name and warranty?

The process of developing, promoting, pricing, and distributing products in order to satisfy customers' need and wants.

Is making products available at the right time and location.

What includes discount, terms and price setting?

The group of consumers that a company desires to have as customers.

What includes channel of distributions, inventory and methods of transportation?

Based on where a person lives.

Known as the 4 P's, is a combination of decisions a business must make in order to best reach its target market.

Is informing and reminding customers of the products available to them.

Businesses become successful by directing all of their efforts to satisfy the needs and wants of the customers.

Dividing the entire market into smaller groups (of people) who share similar characteristics.

Includes the goods and services a business will offer to its customers.