3.3.4 Marketing Decisions - The Marketing Mix

What are the traditional 4Ps of the marketing mix?

• Product, Price, Place, Promotion

• People, Physical Environment, Process, Promotion

• Product, Price, People, Process

• Place, Promotion, People, Physical Environment

Which sector is the biggest in the UK economy, leading to the addition of 3 extra Ps in the marketing mix?

• Manufacturing

• Agriculture

• Service

• Technology

What are the extra 3Ps added to the marketing mix for service industries?

• Product, Price, Place

• People, Physical Environment, Process

• Promotion, Price, Place

• People, Product, Promotion

In an integrated marketing mix, what is the consequence if one of the factors is wrong?

• It can increase the revenue generated from the product.

• It can decrease the revenue generated from the product.

• It has no effect on the revenue generated from the product.

• It can double the revenue generated from the product.

Which of the following is NOT a factor that influences the integrated marketing mix?

• Market research

• Competitors in the market

• The target market segment

• The color of the product

What does the presentation of the physical environment in a service industry influence?

• The price of the product

• The customer's experience

• The production cost

• The product's quality

What is an example of a process factor in the marketing mix?

• The price of the product

• The waiting times and ordering systems

• The physical environment

• The product's quality

What can happen if a company develops an innovative new product but has inefficient ordering and delivery processes?

• The company will sell more products.

• The company will get a bad reputation among customers.

• The company will have no change in sales.

• The company will increase its market share.

What is the marketing mix?

• A combination of factors that can be controlled by a company to influence consumers to purchase its products.

• A set of financial strategies to increase company profits.

• A list of products offered by a company.

• A method to reduce production costs.

Which of the following is NOT one of the 7Ps in the marketing mix?

• Product

• Price

• Promotion

• Profit