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BSBMKG502B: Establish and adjust the marketing mix T2-2015 1 Explain the idea of the “marketing mix What are the the 4 main elements of the marketing mix list and briefly describe them

BSBMKG502B: Establish and adjust the marketing mix. T2-2015 1. Explain the idea of the “marketing mix”. What are the the 4 main elements of the marketing mix, list and briefly describe them. What informs (guides or directs) the marketing mix. (Monger 2007 pg15) 2. Explain the extended marketing mix. What are the 3 “extra P’s. List and briefly describe them. Why has the mix been extended? 3. Why is the idea of the ‘marketing mix’ a central (important) marketing principle? 4.0 What is a ‘product’? in a marketing context What is meant by ‘market or value offer’. Why do we say a business should always focus on the benefit a product or service provides rather than the product/service itself ? (Monger 2007 pg) 4.1 Is a service a marketing product? What are the main characteristics of a service. What are the implications for the marketer? 4.2 Explain the three levels of product ( provide a diagram). Why is this an important principle for marketers to understand? Give an example. - 5. Consult the BSBMKG502B. Establish and Adjust the Marketing Mix. Unit Descriptor. Look at the section ‘Range statement’ under the heading Characteristics of products or services. Select 4 of these or any other variables you can think of, briefly describe and give an example, commenting on the significance of the characteristics to the buyer or target market. 6.1 What is price? List and briefly describe the price setting process. What are the 3 main pricing objectives. What are some factors that influence price setting? 6.2 Explain the difference between cost plus and demand based pricing models.

Jul 31 2020 View more View Less

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