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1. List the four interrelated decisions known as the marketing mix Product, Price, Placement, Promotion 2. Describe each of the four growth strategies Market Penetration - Employs the existing marketing mix and focuses on the firm's efforts on existing customers. Product Development - Offers a new product or service to the current market Market Development - Moving existing product to new market Diversification - Entirely new product in new market 3. Another name for the controllable set of activities that the firm uses to respond to the wants and needs of its target markets Marketing 4. List the activities that Marketing involves Create value, Capture value, Deliver the value proposition, communicate value 5. Brian is struggling with the choice of publishing his new book as an e-book or a paperback. What core aspect of marketing is he addressing? Placement 6. Define culture The shared meanings, beliefs, morals, values, and customs of a group of people 7. List the components of the 4E framework Excite, Educate, Experience, Engage 8. Which element of the marketing mix deals with supply chain management Placement 9. Define price from a broad perspective Everything that a buyer gives up in exchange for the product 10. Offering free samples in a grocery store is an example of which aspect of the 4E framework Experience 11. Define generational cohorts A group of people from the same generation - Have similar purchasing behaviors because same shared experiences 12.
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