3 Market mix: the 7 P´s 21

Question 1

What is the marketing mix ?

Answer 1

The combination of elements used by a business to enable it to meet the needs and expectations of customers

Question 2

What are the 7 P´s ?

Answer 2

THE TRADITIONAL MM= Product, Price, Place, Promotion,

THE EXTENDED MM= People, Process, Physical

Question 3

What makes an effective Marketing Mix?

Answer 3

Achieves marketing objectives
Meets customer needs
Is balanced and constant
Is consistent with the chosen target market & positioning

Question 4

Influences on the Market Mix ?

Answer 4

Segmentation -> Targeting -> Positioning -> Marketing Mix