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SingaporeBusiness StudiesQuick questions
Marketing
Quick questions on The marketing mix explained: O-Level Business Studies
7short 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
The product is the good or service the business offers, including its features, quality, design, packaging and brand. The product must meet customer needs better than rivals. Many products follow a product life cycle: introduction, growth, maturity and decline. Firms use extension strategies (new packaging, new uses, slight redesigns) to lengthen the mature stage and delay decline.
What is price?Show answer
Price is what the customer pays. Common pricing methods include:
What is place?Show answer
Place is how the product reaches the customer - the channels of distribution. A firm may sell direct (its own shop or website), through retailers, or through wholesalers who supply many small shops. The aim is for the product to be available where the target customers actually shop, increasingly online as well as in stores.
What is promotion?Show answer
Promotion is how the firm communicates with customers to inform and persuade them. Methods include:
What is q1?Show answer
State the four elements of the marketing mix. [2 marks]
What is q2?Show answer
Explain what is meant by penetration pricing. [2 marks]
What is q3?Show answer
Explain why the four elements of the marketing mix must be consistent with one another. [4 marks]
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