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OCR GCSE Business Studies
2. Marketing
2.4 The marketing mix
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Cards (58)
The 'Product' element of the marketing mix refers to the goods or services offered by the
business
Match the component of the marketing mix with its definition:
Product ↔️ Goods or services offered by the business
Price ↔️ Amount customers pay for the product
Promotion ↔️ How the business communicates with customers
Place ↔️ Where the product is available to customers
Penetration pricing involves setting high initial prices to maximize profit margins.
False
Match the distribution strategy with its objective:
Intensive Distribution ↔️ Make the product available in as many outlets as possible
Selective Distribution ↔️ Use a limited number of outlets
Exclusive Distribution ↔️ Use a single outlet in each area
Direct distribution involves selling directly to the end consumer through channels like
company-owned
stores or websites.
True
Multi-channel distribution combines direct and
indirect
distribution strategies to provide flexibility and convenience.
True
The amount customers pay for the product is referred to as its
price
The product component of the marketing mix includes considerations like design, features, quality, branding, and
packaging
Apple is known for its innovative product design and high-quality components in its
iPhone
line.
True
The cost of production sets a minimum
price
Premium pricing is used to signal quality and
exclusivity
Distribution channels determine how accessible the product is to
customers
What is the marketing mix often described as?
The 4 Ps
What are the four main components of the marketing mix?
Product, Price, Promotion, Place
The 'Product' element includes considerations such as design, quality, branding, and
packaging
The 'Place' component of the marketing mix refers to how and where a business makes its products available to
customers
Distribution channels refer to the pathways used to get the product to the
customer
What does the 'P' stand for in the marketing mix that refers to the goods or services offered by the business?
Product
The marketing mix consists of four main components known as the
4 Ps
.
True
Match the aspect of the product component with its description:
Design ↔️ The aesthetics and functionality
Features ↔️ Unique capabilities of the product
Quality ↔️ Reliability and durability
Branding ↔️ Name, logo, and image
What does the price component of the marketing mix refer to?
The amount customers pay
What is penetration pricing designed to achieve?
Gain market share
What does the place component of the marketing mix refer to?
Product availability
What is direct distribution?
Selling directly to consumers
What is multi-channel distribution designed to provide customers?
Flexibility and convenience
Indirect distribution involves selling through
intermediaries
The promotion component of the marketing mix focuses on
communicating
with and
persuading
customers
Public relations helps build brand image and
credibility
Match the distribution strategy with its purpose:
Direct distribution ↔️ Maintain control over customer experience
Indirect distribution ↔️ Expand reach to a wider base
Multi-channel distribution ↔️ Provide flexibility and convenience
What is the purpose of the marketing mix elements working together?
Maximize customer value
What is the outcome when the marketing mix elements align effectively?
Attract and retain customers
The 4 Ps are the key decisions a business must make to successfully market its products or services.
True
Which component of the marketing mix involves determining how much customers pay for a product?
Price
What are two key factors that influence a business's pricing decisions?
Cost of production, demand
What is one key consideration for the 'Place' element of the marketing mix?
Distribution channels
Indirect distribution involves selling through intermediaries like retailers, wholesalers, or
distributors
The marketing mix is often described as the 4
Ps
Which component of the marketing mix focuses on how the business communicates with and persuades customers?
Promotion
What does the product component of the marketing mix aim to satisfy?
Customer needs and wants
The price component of the marketing mix is influenced by factors such as cost of production, demand, and
competition
See all 58 cards
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