2.2.5 Using the Marketing Mix

Question 1

Elements of the marketing mix

Answer 1

Product, Price, Place, Promotion

Question 2

Does the elements of the marketing mix influence each other

Answer 2

Yes and each need to be used in different ways and different amounts

Question 3

How can the marketing mix be used to gain a competitive advantage

Answer 3

Offering products at a lower price than competitors
Ensuring the product has added value to distinguish it from competitors

Question 4

Competitive advantage

Answer 4

How a business endeavours to outperform rivals