Business Studies OCR GCSE marketing mix

Question 1

What are the four elements of the marketing mix?

Answer 1

Product, Price, Place, Promotion

Question 2

True or False: The marketing mix is only applicable to large businesses.

Answer 2

False

Question 3

Fill in the blank: The ________ element of the marketing mix refers to the features and benefits of a product.

Answer 3

Product

Question 4

What does the ‘Price’ element of the marketing mix determine?

Answer 4

The amount customers pay for a product.

Question 5

What is the main goal of the ‘Promotion’ element in the marketing mix?

Answer 5

To communicate with customers and persuade them to buy.

Question 6

Which element of the marketing mix involves distribution channels?

Answer 6

Place

Question 7

True or False: Pricing strategies can include discounts and payment plans.

Answer 7

True

Question 8

What is meant by ‘market segmentation’?

Answer 8

Dividing a market into distinct groups of buyers with different needs or characteristics.

Question 9

List one factor that can influence product design.

Answer 9

Customer preferences

Question 10

Which marketing mix element would you adjust to respond to a competitor’s price drop?

Answer 10

Price

Question 11

What is a ‘target market’?

Answer 11

A specific group of consumers at which a company aims its products and services.

Question 12

Fill in the blank: The ________ element involves choosing the right channels to reach customers.

Answer 12

Place

Question 13

What does ‘branding’ refer to in the context of marketing?

Answer 13

Creating a unique image and identity for a product in the consumer’s mind.

Question 14

True or False: A high price always indicates a high-quality product.

Answer 14

False

Question 15

What is ‘promotion mix’?

Answer 15

The combination of promotional tools used to reach marketing objectives.

Question 16

Name one type of promotional tool.

Answer 16

Advertising

Question 17

Which pricing strategy involves setting a high price initially and lowering it over time?

Answer 17

Price skimming

Question 18

What is a ‘product life cycle’?

Answer 18

The stages a product goes through from development to decline.

Question 19

Fill in the blank: The ________ element can include physical stores, online shops, and direct sales.

Answer 19

Place

Question 20

What does ‘cost-plus pricing’ mean?

Answer 20

Setting a price based on the cost of production plus a markup.

Question 21

True or False: Social media is an effective tool for promotion.

Answer 21

True

Question 22

What is ‘market research’?

Answer 22

The process of gathering, analyzing, and interpreting information about a market.

Question 23

Which element of the marketing mix can affect customer perceptions?

Answer 23

Product

Question 24

What is ‘psychological pricing’?

Answer 24

Setting prices that have a psychological impact, such as $9.99 instead of $10.

Question 25

Fill in the blank: The ________ element includes advertising, sales promotions, and public relations.

Answer 25

Promotion

Question 26

What is 'place' in the context of the marketing mix?

Answer 26

The locations and methods used to make a product available to customers.

Question 27

True or False: Discounts can be part of a pricing strategy.

Answer 27

True

Question 28

What is a 'unique selling proposition' (USP)?

Answer 28

A feature that distinguishes a product from its competitors.

Question 29

Which pricing strategy is used to attract price-sensitive customers?

Answer 29

Penetration pricing

Question 30

Fill in the blank: The ________ element focuses on the channels of distribution.

Answer 30

Place

Question 31

What is 'advertising'?

Answer 31

A paid form of communication to promote products or services.

Question 32

True or False: The marketing mix remains static once established.

Answer 32

False

Question 33

What does 'sales promotion' include?

Answer 33

Short-term incentives to encourage the purchase of a product.

Question 34

Name one advantage of using social media for promotion.

Answer 34

Wider reach and engagement with target audiences.

Question 35

What is 'distribution strategy'?

Answer 35

The plan for delivering products to consumers.

Question 36

Fill in the blank: A successful marketing mix is tailored to the ________ of the target market.

Answer 36

Needs

Question 37

What is the main purpose of the marketing mix?

Answer 37

To effectively market a product and meet customer needs.

Question 38

True or False: All elements of the marketing mix are equally important.

Answer 38

True

Question 39

What does 'place' in marketing also refer to besides physical locations?

Answer 39

Distribution channels and logistics.