10 Questions
Which category of products is bought frequently with low customer involvement and little planning or shopping effort?
Convenience goods
What are the elements of the marketing mix according to Philip Kotler?
Product, price, place, promotion
Which individual is referred to as the 'Father of Modern Marketing'?
Philip Kotler
In the context of marketing, what are intangible products often referred to as?
Services
What are the additional elements included in the 7P's marketing mix for intangible products?
People, process, physical evidence
What are the 4P's in the marketing mix concept?
Product, Price, Place, Promotion
Which category of products is characterized by frequent purchase, low customer involvement, and little shopping effort?
Convenience goods
Which individual is credited as the 'Father of Modern Marketing'?
Philip Kotler
What does the term 'final good' refer to in the context of consumer goods?
A good that the consumer consumes directly
What are the additional elements included in the 7P's marketing mix for intangible products?
People, Process, Physical Evidence
Study Notes
Marketing Concepts
- Convenience products are bought frequently with low customer involvement and little planning or shopping effort.
- According to Philip Kotler, the elements of the marketing mix are the 4P's and 7P's.
Marketing Mix
- The 4P's in the marketing mix concept are:
- Product
- Price
- Place
- Promotion
- The 7P's marketing mix for intangible products includes additional elements:
- People
- Process
- Physical Evidence
Marketing Terminology
- Philip Kotler is referred to as the 'Father of Modern Marketing'.
- Intangible products are often referred to as services.
- A 'final good' refers to a consumer good that is ready for consumption, having completed the production process.
Product Categories
- Convenience products are characterized by frequent purchase, low customer involvement, and little shopping effort.
Test your knowledge of the marketing mix with this quiz. Explore the concepts introduced by Philip Kotler, including the 4P's for tangible products and the 7P's for intangible products. Evaluate your understanding of product, price, place, promotion, people, process, and physical evidence in the marketing strategy.
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