Company and marketing strategy - Marketing strategy and the marketing mix

11 important questions on Company and marketing strategy - Marketing strategy and the marketing mix

What is the core of the marketing strategy and the marketing mix?

Is all about creating customer value and profitable customer relationships. (Customer value and relationships)

... Means the goods-and-services combination the company offers to the target market. Which word of the 4P's need to be on the ...?

Product

... Is the amount of money customers must pay to obtain the product. Which word of the 4P's need to be on the ...?

Price
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... Includes company activities that make the product available to target consumers. Which word of the 4P's need to be on the ...?

Place

In  which four ways can consumers be grouped and served?

-Geographic
-demographic
-psychographic
-behavioral

... Refers to activities that communicate the merits of the product and persuade target customers to buy it. Which word of the 4P's need to be on the ...?

Promotion

But how do you explain that there are no services in the marketing mix?

Just because they don't start with a P doesn't justify omitting them. The answer is that services, such as banking, airline, and retailing services, are products too. We might call them service products

What does price mean in the martkeing mix?

Is the amount of money customers must pay to obtain the product.

What does place mean in the marketing mix?

Includes comapny activities that make the product available to target consumers.

As which 4 As might the four p's (product,price,place,promotion) be better described as?

  • Acceptability
  • Affordability
  • Accesbility
  • Awareness

... It is the set of tactical marketing tools, the 4 Ps, that the firm blends to produce the response it wants in the target market.
Which words need to be on the ...?

Marketing mix

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