Marketing Mix

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11 Terms

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Product
The item or service that is offered for sale.
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Price
The value placed on a product, which is often what a customer is willing to pay.
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Cover Costs
Expenses that must be paid to create a product or service.
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Target Market
The specific group of consumers a business aims to reach with its products or services.
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Promotion
The activities aimed at raising customer awareness about a product or service.
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Sales Promotion
Special offers used to encourage customers to make a purchase.
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Personal Selling
Direct interaction with customers through face-to-face meetings or telemarketing.
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Public Relations
The practice of communicating with the media to create a positive public image.
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Advertising
Messages sent to customers to encourage them to purchase a product or service.
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Persuasive Advertising
A type of advertising designed to convince people that they need a specific product or service.
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Reminder Advertising
Advertising used to remind customers that a product or service is still available.