5.3 the marketing mix

Question 1

Products

Answer 1

• Products and services, including sustainable products and services
• Product life cycle

Question 2

Promotion

Answer 2

Marketing campaigns
* web-basedinternet & social media platforms, blogs, podcasts
* destination branding
* direct marketing
* TV, radio, newspaper, magazine advertising

sales promotion

• Public relations
• e-brochures/leaflets
• Trade promotions

Question 3

price

Answer 3

• Market penetration
• Market skimming

pricing strategies

Discount pricing
* reduced prices

Variable pricing
* charging diff prices for same product (reducing in low szn)

Loss leader pricing
* setting low price to raise customer interest in other products

Promotional pricing
* setting temporary low price for a promoted product.

Premium pricing
* setting higher prices to make products seem special.

• Price bundling

Question 4

place

Answer 4

• Distribution channels, e.g. direct selling, wholesalers, retailers, online
• Physical location, e.g. cost, character and features of the area, adjacent facilities, availability of suitable premises, availability of staff, access and transport links

Question 5

what is the product life cycle
what are the 4 stages in it

Answer 5

stages in the marketing existence of a product.

• introduction
• growth
• maturity
• decline

Question 6

what are distribution channels

Answer 6

ways in which products research customers