Quiz 2 entrep

• The marketing mix 7P's in relation to the business opportunity
• Product - The product or service that is being offered
• Place - Where the product will be distributed and sold.
• Promotion - How the product will be advertised and promoted
• Place - Where the product can be bought from, e.g. online, shops etc.
• Promotion - Advertising, public relations, sales promotion, personal selling, direct marketing, sponsorship, guerrilla marketing, etc.
• People - Who will work on the project, who are the key people involved
• Processes - How the product will be made, how it will be delivered
• People - Employees who work at the company, as well as customers and other stakeholders.
• Price - What price the customer has to pay for the product/service
• Processes - How things get done within the organisation
• Processes - What processes need to take place to make sure everything runs smoothly
• People - Who are involved with the company, including employees, customers, suppliers, shareholders, distributors, partners, investors, etc.
• Profitability - Whether the business will make enough money to cover costs and make a profit
• Physical evidence - The physical aspects of the business that customers interact with, such as the store layout or website design.
• Pricing strategy - Determining what price to charge for your products/services
• Product - The goods or services being offered by the business.
• Product - The item or service that is being sold
• Place - Where the business is located, where products are sold or distributed
• Physical evidence - Tangible items such as packaging, signage, and displays that communicate information about the brand or product
• Physical evidence - Tangible aspects of the brand such as packaging, signage, store layout, etc.
• Place - Where the business is located, where products or services are sold
• Positioning - Creating a unique image or position in the minds of consumers through advertising, branding, and messaging
• Product - The goods or services that the business offers
• Promotion - How the business promotes itself (advertising)
• Promotion - How the business promotes itself and its products/services
• Products & Services - The products or services that the business offers
• Product - The goods or service that the business provides
• Place (Distribution) - Where the business sells its products/services
• Productivity - The amount of output produced by an employee or machine per unit time
• Promotion - Advertising and marketing campaigns used to promote products and services
• Quality - The level of quality that is expected from a product or service
• Product development - Creating new products/services to meet customer needs
• Marketing mix is a set of controllable and connected variables that a company gathers to satisfy a customer better than its competitors, also known as the “Ps” in marketing.
• The original 4 P’s stand for product, place, price and promotion.
• Three elements have been added to the 4 P’s, namely, people, packaging and positioning, to comprise the 7 P’s.
• Marketing strategy typically starts with the product.
• Marketers can plan a distribution system or set a price if they don’t know exactly what the product will be offered to the market.
• The price is the amount or value that a customer gives up to enjoy the benefits of having or using a product or service.
• Penetration pricing is when the price charged for products or services is set artificially low in order to gain market share.