Podcast
Questions and Answers
Which category of products is bought frequently with low customer involvement and little planning or shopping effort?
Which category of products is bought frequently with low customer involvement and little planning or shopping effort?
- Convenience goods (correct)
- Specialty goods
- Shopping goods
- Unsought goods
What are the elements of the marketing mix according to Philip Kotler?
What are the elements of the marketing mix according to Philip Kotler?
- Product, price, people, process
- Product, price, place, promotion (correct)
- Product, price, place, physical evidence
- Product, price, place, packaging
Which individual is referred to as the 'Father of Modern Marketing'?
Which individual is referred to as the 'Father of Modern Marketing'?
- Seth Godin
- Philip Kotler (correct)
- David Ogilvy
- Michael Porter
In the context of marketing, what are intangible products often referred to as?
In the context of marketing, what are intangible products often referred to as?
What are the additional elements included in the 7P's marketing mix for intangible products?
What are the additional elements included in the 7P's marketing mix for intangible products?
What are the 4P's in the marketing mix concept?
What are the 4P's in the marketing mix concept?
Which category of products is characterized by frequent purchase, low customer involvement, and little shopping effort?
Which category of products is characterized by frequent purchase, low customer involvement, and little shopping effort?
Which individual is credited as the 'Father of Modern Marketing'?
Which individual is credited as the 'Father of Modern Marketing'?
What does the term 'final good' refer to in the context of consumer goods?
What does the term 'final good' refer to in the context of consumer goods?
What are the additional elements included in the 7P's marketing mix for intangible products?
What are the additional elements included in the 7P's marketing mix for intangible products?
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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.
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