4 p's | Economy | Selling | Advertising | channel mangment |
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What are the 4 P's
Product, Price, Place, Promotion
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What is economy?
An organized way a nation provides for the wants and needs of it's people
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what is personal selling?
person to person contact like a salesman.
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What is advertising?
the activity or profession of producing advertisements for commercial products or services.
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what is channel distribution.
the path a product takes to get to the customer.
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What is Product?
The good/service provided
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what is scarcity?
when a country doesn't have a lot of a resource.
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what is telemarketing?
when company's call your phone to sell you something.
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What is an advertising campaign?
a group of advertisements, commercials, and related promotional materials and activities to promote the plan of a company.
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what are the two types of channles?
direct and indirect.
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What is Price?
How much the consumer pays for product
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What are factors of production?
Land, Labor, Capital, Entrepreneurship
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name two goals of selling?
help customers be satisfied, create repeat business.
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What is a headline?
the phrase or sentence that attracts the reader's attention to a product or service
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what are the distribution intensifies?
intensive, selective, and exclusive.
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What is Place?
The location(s) where the product is marketed/sold
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what are the three types of economy?
traditional, market, and command.
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what is consultative selling?
selling a solution to a customers problem.
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What is an advertising agency?
independent businesses that specialize in developing ad campaigns and crafting the ads for clients.
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what are the two channel markets?
industrial and consumer.
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What is Promotion?
Advertising of the product
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what is a command economy?
when the government controls every market.
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what are the three product features?
basic, physical, and additional.
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What are the 4 key elements of print advertisements?
Headline, Copy, illustrations, signature
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what are intermediaries?
firms that help the company to promote, sell, and distribute its products to final buyers.
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