Name and provide a brief description of the 4 Ps of marketing
What will be an ideal response?
The description of the 4 Ps is:
Product–Distinguish your product from that of your competitors. Product differentiation is critical.
Price–The product must be competitively priced to appeal to customers.
Promotion–Consists of all methods to inform and persuade targeted customers to buy a product and build positive customer relationships.
Place–The place (or distribution) component of the marketing mix refers to all the methods involved in getting a product into the hands of customers.
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A ________ is an incentive to order larger quantities, where the price per unit decreases when the order is sufficiently large
Fill in the blanks with correct word
When borrowing money from a ban for a home mortgage, 30 year interest rates are generally
A) the same as 15 year and 20 year rates. B) between .5% and 1% lower than 15 year rates. C) between .5% and 1% higher than 15 year rates. D) The term of the mortgage has no bearing on rates; only the borrower's credit rating matters.