A-level Business Studies Lesson 17 (3.3.4)

Question 1

Marketing mix

Answer 1

Those elements of a business’s approach to marketing that enable it to satisfy and delight its customers.

Question 2

Product

Answer 2

The good or service provided by the business for its customers.

Question 3

Price

Answer 3

The sum of money paid by a customer for one product.

Question 4

Promotion

Answer 4

Communicating with customers or potential customers.

Question 5

Place

Answer 5

The location at which the purchase of a product is made and the means of distributing the product to the consumer.

Question 6

People

Answer 6

Anyone who represents the firm and comes into contact with the firm’s customers.

Question 7

Process

Answer 7

The system involved in ensuring that an efficient service is provided to prospective and actual customers.

Question 8

Physical environment

Answer 8

The nature and appeal of the physical evidence a customer will observe during a transaction, such as company stationery,
delivery lorries, and staff uniforms.