Marketing mix

• What is the Marketing Mix also known as?

  The 4 P’s
• Why should the 4 P’s be incorporated in planning?

  They increase the chance of success
• What are the elements of the marketing mix?

  • Product
  • Promotion
  • Price
  • Place
• What does the 'Product' element of the marketing mix focus on?

  It focuses on the product or service offered
• What is a USP in relation to the 'Product' element?

  Unique Selling Proposition
• What is the purpose of the 'Promotion' element in the marketing mix?

  To find and persuade customers to buy
• What does the 'Price' element of the marketing mix determine?

  How much the customer pays for the product
• What can happen if a product is priced too high?

  Customers may go to competitors
• What can happen if a product is priced too low?

  It may lead to losses or poor quality perception
• What does the 'Place' element of the marketing mix refer to?

  How the product is distributed
• What are the two main distribution channels mentioned for the 'Place' element?

  Online and in real life