Marketing mix

Question 1

Marketing mix

Answer 1

The marketing mix is the combination of factors (the ‘7Ps’) which affect a customer’s purchasing decision.

Customers may buy a product if they find each of the marketing mix factors satisfactory.

Question 2

7 Ps

Answer 2

People

Process

Physical environment/evidence

Product

Place

Price

Promotion

Question 3

Changing the marketing mix

Answer 3

As market conditions and customer tastes and preferences change, a business may update its marketing mix.

Question 4

People

Answer 4

People includes customer facing staff, such as customer service assistants, and the employees involved in a transaction when a customer purchases a product or service.

Question 5

Process

Answer 5

Process includes the systems in place to support the transaction which the customer must deal with to complete the transaction successfully.

Question 6

Physical environment/evidence

Answer 6

Includes physical premises, the design, and layout of premises and the condition and placement of products within a store.

Question 7

Factors influencing the marketing mix

Answer 7

Availability

Product information

Question 8

Availability

Answer 8

Convenience items, such as basic groceries, need to be accessed quickly by customers so businesses may focus on marketing mix factors related to speed and availability.

Question 9

Product information

Answer 9

Shopping items, such as computer tablets and clothes, may be considered for purchase by customers for a longer period so a business may focus on the customer service ‘people’ factor so that customers can access product information easily.