Product

• What is the marketing mix made up of?

  The four Ps: product, price, place, promotion
• Why must all elements of the marketing mix work together?

  To create a successful marketing strategy
• What does the product element of the marketing mix refer to?

  • The products or services a business sells
  • Must meet the needs and wants of the target market
• What is market research?

  Gathering data about customers and market trends
• What is a target market?

  A group a business aims to sell products to
• What are tangible goods?

  Items that can be physically touched
• Give an example of a tangible item.

  A mobile phone
• What is an intangible product?

  A product that cannot be physically touched
• Give an example of an intangible product.

  A spa day experience
• Why does a business need its products to stand out?

  To encourage customers to buy from it
• What is a unique selling point (USP)?

  Distinctive factors that make a product stand out
• How might a business emphasize its USP in marketing?

  By highlighting fair trade practices
• What is the marketing mix made up of?

  The four Ps: product, price, place, promotion
• How can a web developer create a USP?

  By including artificial intelligence in a website
• Why must all elements of the marketing mix work together?

  To create a successful marketing strategy
• What is the product element in the marketing mix?

  • Refers to products or services sold
  • Involves market research to identify customer needs
• What does market research involve?

  Gathering data about customers and competitors
• What is a target market?

  A group of people a business aims to sell to
• What is a tangible product?

  An item that can be physically touched
• Give an example of a tangible product.

  A mobile phone or a chocolate bar
• What is an intangible product?

  A product that cannot be touched
• Give an example of an intangible product.


  A spa day experience or a haircut
• Why does a business need its products to stand out?

  To attract customers away from competitors
• What is a unique selling point (USP)?

  Distinctive factors that make a product stand out
• How might a business emphasize its USP?

  By highlighting fair trade or unique features
• How does a web developer's USP differ from a product's USP?

  It may include features like artificial intelligence