Chapter 5 Building a successful marketing mix

Question 1

Chapter 05

How can qualitative market research help a business improve its marketing mix?

Edexcel 2BS01 Business Studies GCSE Unit 3.1

Answer 1

1. Price - it can let them know if it needs to be increased or decreased - what do their customers feel about their prices?
2. Product - it can let them know if the product needs developing in some way to meet changing customer needs - Do the customers feel it needs improving?
3. Place - it can help them decide where they should sell their products - do their customers think that they are not open long enough?
4. Promotion - it can help them find out what advertising method is most appropriate to reach their target market

Question 2

Chapter 05

What are the elements of the Marketing Mix?

Edexcel 2BS01 Business Studies GCSE Unit 3.1

Answer 2

Product
Price
Place
Promotion

Question 3

Chapter 05

What is the marketing mix?

Edexcel 2BS01 Business Studies GCSE Unit 3.1

Answer 3

A combination of factors which help a business to take into account customers’ needs when selling a product, usually summarised as the 4 Ps.

Question 4

Chapter 05

Being an online retailer represents which element of the marketing mix?

Edexcel 2BS01 Business Studies GCSE Unit 3.1

Answer 4

Place