12. Strategic Choices

Question 1

Marketing mix, what is it?

Answer 1

Collection of tools to develop marketing strategy.

Controllable variables

Question 2

What are the 4 main Ps and 3 additional Ps in the marketing mix?

Answer 2

4Ps
- Product
- Price
- Promotion
- Place

3Ps
- People
- Processes
- Physical evidence

7Ps = service marketing mix

Question 3

Outline the Product in the marketing mix.

Answer 3

Goods and services. Qualities of a purchase as perceived by the customer.