Marketing Mix + Internal/ external factors Quiz

The 4Ps are components that combine to make the:

• Competitors' mix

• Manufacturers' mix

• Production mix

• Marketing mix

The 4Ps stand for:

• Price, place, packaging and promotion

• Product, place, pleasure and promotion

• Product, place, promotion and price

• Product, promise, promotion and price

The 4Ps can help a business:

• Boost staff morale in the workplace

• Meet customers to discuss how the business is performing

• Meet the needs and demands of their competitors

• Meet the specific needs and demands of the customer

When marketing, it is important that the product/service:

• Meets the needs of the business

• Meets the needs of the competitor

• Meets the needs of the customer

• Meets the needs of the environment

The variable charges a business can choose for a product/service is called the:

• Principle

• Price

• Profit

• Purchase

The amount a business charges for their product/service should be enough to allow for a:

• Loss

• Margin

• Principle

• Profit

The pricing strategy for a one-off opening price to generate interest is:

• Discounted

• Increased

• Inflated

• Pre-set

Identify the consequences of a business reducing a product/service in price.

• Increased customer loyalty

• Possible price war

• Higher profit margins

• Improved product quality

Identify what RRP represents.

• Recommended Retail Price

• Reduced Retail Price

• Regular Retail Price

• Required Retail Price

Identify the dedicated place where products are sold and distributed.

• Warehouse

• Outlet

• Showroom

• Market