The Marketing Mix 0.0 / 5 ? Business StudiesMarketing mixMarketing and competitive environmentsASAQA Created by: konradekeCreated on: 25-03-16 11:44 What is the marketing mix? The combination of elements through which a firm achieves its marketing objectives 1 of 13 What is Product? The goods and services that the firm provides 2 of 13 What is Promotion? Promotion is the activities designed to communicate with the market thereby increasing visibility and sales of a product 3 of 13 What is Price? The amount of money a customer has to pay to recieve the good or service 4 of 13 What is Place? The physical location where a product is available and also the distribution channel it has travelled 5 of 13 Can a online store have the "Place" in their marketing mix? Yes, it can be both physical market or a virtual location 6 of 13 What is People? People are the employees involved in dealing with customers before, during and after a sale 7 of 13 What is Process? The steps a customer goes through to complete a transaction 8 of 13 What is Physical environment? The design and features of the actual place where a transaction takes place 9 of 13 What influences the marketing mix for a business? The market (B2B, B2C), Nature of the consumer market (Convenience products, Shopping products, Speciality products), Market research, Target market, Internal constraints, External influences 10 of 13 What is a convenience product? One where the ease of which a consumer can get the product is a priority 11 of 13 What is a Shopping product? One where the consumer does not rush into a purchase but compares different options 12 of 13 What is a Speciality product? One a customer will spend time thinking and researching about before buying 13 of 13
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