Unit 1.4.3

The marketing mix is often referred to as the?

• 4Ms

• Ps of marketing

• 4Ps

The 4Ps of the marketing mix are?

• Product, People, Place, and Promotion.

• Product, Price, Place, and Process.

• Product, Price, Place, and Promotion.

• Physical, Price, Place, and Promotion.

The ‘Product’ element of the marketing mix just relates to tangible products.

• True

• False

Three key factors which influence the price a business can charge include?

• The brand image of the business

• The number of employees it hires

• The amount of competitors

• The levels of supply and demand of the product

Public relations fits into which P of the marketing mix?

• Product

• Price

• Place

• Promotion

Businesses have three main options in relation to the distribution channels they use, these are?

• Direct to end users

• Retailers

• Warehouses

• Wholesalers

When a business manufactures, sells, and distributes the product directly to the customer, this is known as?

• Retailing

• Direct to end user distribution

• Wholesaling

There are three key factors which impact how effectively each element of the marketing mix work together, these are?

• The competitive environment

• Employees

• Consumer needs

• Technology

Reducing selling prices or introducing a budget range during tough economic conditions such as a recession is an example of a business reacting to?

• Technology

• Changing consumer needs

• The competitive environment

______ is related to the aesthetics of the product.