Marketing-the Marketing Mix

Question 1

What is the marketing mix

Answer 1

set of marketing tools that the firm uses to pursue its marketing objectives in the target market

Question 2

Distinguish between local, national and international/multinational marketing contexts

Answer 2

Local-operates in a small geographic location
National- operates in on national level domestically
International-exports to other countries
Multinational- has investment and operations in other countries

Question 3

Marketing mix per business type

Answer 3

Local-focus more on price and products
National- promotion and place
International- promotion, place and price
Multinational- place, promotion and price

Question 4

What is a market strategy definition

Answer 4

The process that allows the business the business to direct its efforts towards achieving their goals