Cima E3 Exam Question No 52

Question No 52:

Marketing the marketing mix (4+3 Ps)?

• Product - The 'package of benefits' including guarantees, warranties and after sales service.
• Price -The pricing element includes price promotions, discounts, and periods of credit, interest free credit and payment terms.
• Promotion - The promotional mix or promotional plan is comprised of four subcategories: advertising, personal (or direct) selling, sales promotion and public relations.
• Place -Place is where the product can be purchased from e.g. distribution channels.
• People - Often referred to as the 5th P in the marketing mix, because staffs are the essential 'human asset' to support the marketing concept.
• Process - How the service is delivered or how the sale of the good is managed.
• Physical evidence - The tangible evidence that exists and that can be identified to the organisation.