Flashcards on Core Business and Management Principles
Core Business and Management Principles: Your Study Guide
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Product & Channel Marketing
32 cards
Card 1
Question: What are the four Ps of the marketing mix listed here?
Answer: Product, Price, Place, Promotions
Card 2
Question: Give one example of a price-setting approach mentioned.
Answer: Cost-based, competitive, or demand-based pricing (any one is correct).
Card 3
Question: Name three types of place/channel options for getting products to consumers.
Answer: Wholesalers, retailers, direct to consumers.
Card 4
Question: List three promotional activities included under promotions.
Answer: Branding, advertising, sales promotions (also publicity and public relations).
Card 5
Question: What are two primary protective functions of packaging?
Answer: Protects the product during transportation and storage; keeps perishable items fresh.
Card 6
Question: Give two user-related requirements packaging must meet.
Answer: It must be easy to open and use; easy to remove and dispose of.
Card 7
Question: Besides protection and usability, name two informational or legal functions of packaging.
Answer: Provides important product information/instructions; must comply with laws (e.g., storage of hazardous materials, display contents and country of manu
Card 8
Question: How can packaging contribute to brand image?
Answer: Design, colour and shape can help create and reinforce a brand image.
Card 9
Question: What is product benchmarking?
Answer: Comparing rival products so a firm can match or improve them.
Card 10
Question: Define a 'gap in the market.'
Answer: A group of customers whose needs are not currently being met.