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SingaporeElements of Business SkillsQuick questions
Basic Marketing
Quick questions on The marketing mix (four Ps): N-Level Elements of Business Skills
4short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What is product?Show answer
Product is the good or service the business sells, and how good it is. Getting the product right means making something customers want - the right quality, design, size, flavour, or features. For a bakery, the product is tasty, well-made cupcakes in flavours customers like.
What is price?Show answer
Price is how much the business charges. The price must feel fair to customers and still let the business cover its costs and make a profit. Too high and customers will not buy; too low and the business may not cover its costs. A bakery might price a cupcake at a level that feels good value.
What is place?Show answer
Place is where and how the product is sold and made available to customers - in a shop, at a market stall, online, or for delivery. Good place means the product is easy for customers to find and buy. A bakery might sell in its shop and also online for delivery.
What is promotion?Show answer
Promotion is how the business tells customers about the product and persuades them to buy. It includes signs, advertisements, social media, special offers, and word of mouth. A bakery might use a window display, social media posts, and a buy-five-get-one-free offer.
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