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Marketing

Marketing Mix (4Ps)

Key Points

  • 4Ps: Product, Price, Place, Promotion
  • Product life cycle: Introduction → Growth → Maturity → Decline
  • Penetration pricing: low price to gain market share
  • Promotional mix: advertising, personal selling, sales promotion, PR
  • Market research: primary (new data) vs secondary (existing data)

Practice Questions

2 questions
1

Which of the following is NOT one of the 4Ps of the marketing mix?

2

The process of dividing a market into distinct groups of buyers with different needs is called: