BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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product, place, promotion, and price
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a promise from the seller that says that the seller will replace a product that does not perform as expected
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philosophy that all business activities should be aimed towards satisfying that consumer
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form of promotion that determines clients needs and wants
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Detailed explanation-1: -Each of the four Ps has its own tools to contribute to the marketing mix: Product: variety, quality, design, features, brand name, packaging, services. Price: list price, discounts, allowance, payment period, credit terms. Place: channels, coverage, assortments, locations, inventory, transportation, logistics.
Detailed explanation-2: -The marketing mix, also known as the four P’s of marketing, refers to the four key elements of a marketing strategy: product, price, place and promotion.
Detailed explanation-3: -The 4Ps of marketing is a model for enhancing the components of your “marketing mix” – the way in which you take a new product or service to market. It helps you to define your marketing options in terms of price, product, promotion, and place so that your offering meets a specific customer need or demand.
Detailed explanation-4: -Initially 4, these elements were Product, Price, Place and Promotion, which were later expanded by including People, Packaging and Process. These are now considered to be the “7 P’s” mix elements.