Commercial Applications
Enumerate the elements of marketing mix.
OR
Mention the four elements of marketing mix.
OR
Mention the elements of the Marketing mix.
Marketing Mix
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Answer
The four elements of the marketing mix (popularly known as the 4 P's) are:
- Product Mix — refers to the combination of various features relating to the product or service offered for sale, including quality, brand, packaging, labelling and after-sale service.
- Price Mix — involves decisions regarding the basic price, discounts, allowances, credit and terms of payment.
- Place Mix (Distribution Mix) — consists of all activities involved in transferring ownership and physical possession of the product to consumers.
- Promotion Mix — consists of all activities aimed at persuading customers to buy the product, including advertising, personal selling, sales promotion and publicity.
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Related Questions
Direct selling, as a channel of distribution, has become popular due to the ……………
- availability of expert services of middlemen
- concentrated markets
- relief from the problem of distribution
- increasing cost of distribution
With reference to growth stage of Product life cycle, which statement is/are NOT correct?
(1) New models of products are introduced.
(2) Sales fall down sharply.
(3) Distribution is widened.
(4) Prices are at competitive levels.
- 1 and 3
- 2 and 3
- 3 and 4
- Only 2
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"Parity pricing is not relevant under the present marketing conditions." Justify either for or against by giving two reasons.