4.1 The marketing mix elements for a good/service - Word Drop
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The marketing mix is the set of decisions a business makes to sell a good or service. It contains four elements, known as the ______. A business must match the mix to the needs of its ______.
Product decisions cover what the good or service looks like, how it is ______ from ______, and how it can be developed to extend its ______ through the stages from launch to decline. Price decisions use a pricing ______ to cover ______ and appeal to customers. The price must reflect the ______ that customers believe the product offers.
Place decisions choose where customers can buy the product and the most suitable ______ for the target market. Promotion decisions make customers ______ of the product. Promotion can use ______ methods, such as social media, or non-digital methods, such as leaflets.
The mix must be ______ to the specific good, service or business. A small business may make different decisions from a large one.
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