MANAGEMENT

Detailed explanation-1: -A supermarket’s own brand is an item packaged and marketed under the brand name of the supermarket chain, rather than that of the manufacturer. There is also increasing competition from supermarkets’ own brands, which are taking more shelf space. Supermarkets’ own brands often have cheaper packaging than branded items.

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: -Which statement about the marketing mix is true? The primary way that marketers generate value is through decisions on product, price, place, and promotion. These elements are known as the four Ps of the marketing mix.

Detailed explanation-4: -The 4Ps make up a typical marketing mix-Price, Product, Promotion and Place. However, nowadays, the marketing mix increasingly includes several other Ps like Packaging, Positioning, People and even Politics as vital mix elements.