Entrepreneur Module 6: The 7P's and Branding Marketing Strategy Quiz

Marketing Fundamentals

• In the context of marketing, a 'product' refers to goods, services, or ideas that satisfy customer needs and wants.

Marketing Mix

• The 7P's of marketing include Product, Price, Place, Promotion, People, Process, and Physical Evidence.
• One of the elements that is NOT one of the 7P's of marketing is Profit.

Extended Marketing Mix

• The original 4 P's of Marketing (Product, Price, Place, and Promotion) are extended to form the 7P's by adding People, Process, and Physical Evidence.

Marketing Strategy

• The enterprise's overall game plan for reaching potential customers and turning them into customers is referred to as a Marketing Strategy.

Marketing Mix Influence

• The target market always influences every aspect of the marketing mix.

Product Types

• The Four General Types of Products are Convenience, Shopping, Specialty, and Unsought Products.

Breakthrough Product

• An example of a Breakthrough product is the iPod, which revolutionized the music industry.

Product Differentiation

• A Differentiated product is uniquely different from those of competitors.

Distribution Channel

• A Wholesaler in the distribution channel acts as a middleman, buying products from the manufacturer and selling them to retailers.

Direct Distribution Channel

• In a Direct Distribution Channel, the manufacturer has a direct transaction with the consumer, eliminating intermediaries.

Test your knowledge of marketing strategy, the 7P's of marketing, and branding with this quiz. Explore key concepts such as value proposition, brand messaging, target customer demographics, and more.