Marketing Mix: Product

Question 1

Define Marketing Mix (2)

Answer 1

Four marketing decisions needed for the effective
marketing of a product. Price, product, promotion and
place (2)

Question 2

Define product

Answer 2

Good and service being produced and sold in the market

Question 3

What makes a product successful

Answer 3

• Satisfies existing needs and wants of consumers
• Able to stimulate new wants from the consumers
• its design, performance, reliability, quality, should all be consistent with the product brand image
• distinctive from its competitors and stands out
• not too expensive to produce, and the price will be able to cover up the costs