Question

1. match the marketing mix element with the appropriate sentence or phrase.

a. product b. price c. place d. promotion
______ 1. finding a good balance between value and satisfaction for the customer
______ 2. getting a selected product in the right place at the right time
______ 3. the amount of money a business asks for in exchange for its products
______ 4. the various types of communication that marketers use to inform, persuade, or remind customers of their products
______ 5. customer feels that the benefits received outweigh the costs.
______ 6. what goods, services, or ideas a business will offer its customers
______ 7. creating convenience for the customer
______ 8. telling the customer about the products
______ 9. finding out what customers need and meeting that need
______ 10. customer can buy the product when and where s/he wants.
______ 11. customer sees the best solution.
17 when the marketing mix elements are put together how does each element affect

Explanation:

• Product: Deals with what is offered (goods, services, ideas), meeting customer needs (finding and meeting needs), and customer perception of it as the best solution.
• Price: Concerns the money asked in exchange and the balance of value (benefits vs costs).
• Place: Focuses on getting the product to the right place at the right time, creating convenience for purchase (when and where wanted).
• Promotion: Involves communication types (informing, persuading, reminding) like telling customers about products.

Answer:

1. B. Price
2. C. Place
3. B. Price
4. D. Promotion
5. B. Price
6. A. Product
7. C. Place
8. D. Promotion
9. A. Product
10. C. Place
11. A. Product