What is another name for the marketing mix?
The 4 Ps of Marketing (Product, Price, Place, Promotion)
What is the element of the marketing mix that focuses on the good or service itself, including its features, benefits, and branding?
Product
When a company decides how much to charge for their product, they are considering which element of the marketing mix?
Price
How a product gets to the customer, whether in a physical store, online marketplace, or another channel, falls under which element?
Place
Activities like advertising, social media marketing, and public relations are all part of which element of the marketing mix?
Promotion
Imagine a company revamps their packaging to make their product more visually appealing. What element of the marketing mix is this?
Product - Promotion
A company decides to offer a discount on their product for a limited time. Which P are they adjusting?
Price
When a business chooses to sell their products directly to consumers through their own website, they are making a decision about which element?
Place
A company partners with social media influencers to promote their product. This relates to which P?
Promotion
Why is it important for the marketing mix elements to work together effectively?
Because each element affects the others. For example, a high-quality product (Product) might justify a higher price (Price), while a strong promotion (Promotion
