Edexcel A-Level Business Theme 1.3 Marketing mix and strategy overview quiz quiz

People, process, physical evidence and product

Product, price, promotion and place

Function, aesthetics, economics and place

Stars, cash cows, question marks and dogs

A star

A question mark

A cash cow

A dog

To launch a completely brand-new product into the market

To lower the firm's unit production costs significantly

To exit the market and withdraw the product entirely

To prolong the maturity stage and delay decline

Price skimming

Penetration pricing

Predatory pricing

Competitive pricing

Maximise the profit margin earned on an exclusive luxury product

Win market share quickly in a competitive market

Drive its rivals out of the market through illegal means

Match a premium brand's high price exactly to the penny

Above the line is always free of charge, whereas below the line is paid for

Above the line is purely digital, whereas below the line is purely print based

Above is paid mass media; below is targeted and directly controlled

There is no real or meaningful difference between the two at all

It makes demand more elastic

It has no effect on elasticity

It makes demand perfectly elastic

It makes demand more inelastic

Selling through several routes at once, such as stores, website and app

Selling exclusively through one single chosen retailer and nowhere else

Using only wholesalers to reach the final customer and no other route

Distributing free product samples to potential customers as promotion

Spending exactly the same budget equally across all four of the Ps

The four Ps are consistent and reinforce one position

Using only digital promotion and no other media at all

Selling the product in as many different countries as possible

A single standardised marketing mix aimed at the whole mass market at once

Selling the product only online and through no physical outlets at all

A tailored mix aimed at a small, specialist segment, often at a premium

Pricing deliberately below cost to remove rivals from the market