Question

According to the text, some marketing scholars refer to __________________ as the fifth P (next to product, price, promotion, and place) because of its importance in target marketing.

a. power
b. planning
c. positioning
d. purchasing
e. people

Answer 1

Positioning is referred to as the fifth P in marketing and is essential for how a product is perceived by consumers. In the given survey example, 120 out of 200 surveyed households indicated women as the primary decision-makers, which aids in positioning strategies.

Step-by-step explanation:

Some marketing scholars refer to positioning as the fifth P in marketing, in addition to product, price, promotion, and place, because of its crucial role in target marketing. Positioning is about how a product is perceived in the minds of consumers and how it stands out from competitors. Taking the marketing survey provided as an example, if we are interested in the population proportion of households where women make the majority of the purchasing decisions, we would look at the survey which found that in 120 out of 200 surveyed households, women were the primary decision-makers. This gives us valuable information for targeting and positioning products that are more likely to be chosen by women who make these decisions.