Question

chapter 8 - global marketing
please address all of the items below in about 4 - 6 sentences (or fragments) in total. try to address each bullet, or if you have to skip one of them, write an extra sentence on a different bullet.
we talked extensively about \5\ marketing mix strategies.

• could you briefly identify each of them?
• please come up with a scenario that provides an example for any 2 of these 5 strategies.

(no need to give an example for all five).
edit view insert format tools table
12pt paragraph b i u a t²

Explanation:

The 5P Marketing Mix strategies are Product (goods/services offered), Price (cost to customers), Place (distribution channels), Promotion (communication methods), and People (employees interacting with customers). For example, a coffee shop (Product) with a loyalty card (Promotion) offers discounts (Price) via its app (Place) and trains baristas (People) for good service. Another example: a tech firm (Product) uses social media ads (Promotion), sells online (Place), has competitive pricing (Price), and ensures customer - facing staff (People) are knowledgeable.

Answer:

The 5P Marketing Mix strategies are Product, Price, Place, Promotion, and People. Examples: Coffee shop with loyalty card (Promotion) and trained staff (People); Tech firm with social media ads (Promotion) and online sales (Place).