Unit 3.4 Marketing Mix

Question 1

What are the 7 elements of the marketing mix ?

Answer 1

1. Place
2. Price
3. Product
4. Promotion
5. Process
6. People
7. Physical evidence

Question 2

What are the 3 types of consumers goods ?

Answer 2

• Durable good e.g. microwave
• Non-durable e.g. food
• Services e.g. hair cut

Question 3

What is a durable good ?

Answer 3

• a product that is designed to last for a long time, typically more than 3 times

Question 4

Examples of a durable good ?

Answer 4

• Machines
• Appliances
• Furniture
• Electronics

Question 5

What is a non-durable good?

Answer 5

• products that are purchased for immediate consumption

Question 6

What is an example of a non durable good?

Answer 6

• Fruits
• Food items
• Mineral Water
• Cloths
• Disposable items

Question 7

What is an industrial good?

Answer 7

• are products that are used to produce goods which will be bought by customers

Question 8

What is the Boston Matrix ?

Answer 8

• marketing panning tools helps managers to plan for a balanced product portfolio

Question 9

What are the 4 stages of the Boston Matrix

Answer 9

• Star
• Question mark
• Cash cow
• Dog